Director - Derivatives Execution & Clearing (DEC) Product Manager

Business Overview:

BNP Paribas’ Global Markets business offers a broad range of products and services in the global interest rates, credit, currency, equities & commodity markets. Global Markets help their franchise of clients find effective ways to raise and invest capital as well as manage their exposure to risk. Their client base comprises of corporations, institutional investors, banks, governments and supranational organizations.

Global Markets has the scale and reach to conduct business anywhere in the world and deliver products denominated in almost all of the world’s currencies. Their global network comprises more than 1,700 professionals working on our six main trading floors in London, Hong Kong, New York, Paris, Singapore and Tokyo. They are supported by regional offices throughout Europe, the Americas, Middle East and Asia-Pacific.

Derivatives Execution & Clearing (DEC) is an agency, cross-asset, integrated execution and clearing business serving Corporate and Institutional clients. 

DEC offers the following services:

• Listed Execution: Electronic and Voice brokerage services on listed futures and options
• Corporate Clearing: Futures & Options on energy, metals and soft commodities
• Institutional Clearing: Futures & Options on equity indices, fixed income, FX, commodities 
• OTC Clearing: Clearing of OTC derivatives (Rates and Credit)

Candidate Success Factors:

Candidates are measured on the following four performance drivers, which will dictate how individual impact is considered on the Americas platform:

• Results and Impact
  • Able to influence peers and team.
  • Demonstrates good judgement when making decisions of high complexity and impact.
  • Exercise appropriate autonomy in the execution and delivery of work. 
  • Responsible for driving outcomes, which have meaningful effect on team or department.
• Leadership and Collaboration:
  • Creates trust with colleagues.
  • Acts in leadership capacity for projects, processes, or programs.
• Client, Customer and Stakeholder Focus: 
  • Able to build relationships with a mix of colleagues and clients.
  • Interacts regularly with management and department leaders.
  • Demonstrates the ability to influence stakeholders at the team level. 
• Compliance Culture and Conduct: 
  • Takes full responsibility for personal actions and demonstrates courage in facing problems and conflicts.
  • Perceived as a person of high moral character; upholds corporate values and displays high ethical standards.

Responsibilities: 

DEC Product Manager-Director level role leads the global product strategy and sponsor the platform design, evolution and alignment with client, business and regulatory needs. The role holder will oversee a significant area of the DEC Product Management team scope, define the strategic vision, liaise with business sponsors, manage priorities and resources and be responsible for the implementation. Product managers support the DEC business in its market strategy by prioritizing platform resources, by documenting and communicating platform enhancements and by sharing product expertise to client meetings and industry events.

Minimum Required Qualifications:

• Product strategy and sponsor platform design, evolution and alignment with client needs
  1. Define short-, mid-, and long-term objectives for execution and/or clearing product development accounting for business ambition, regulatory environment and industry evolution 
  2. Consolidate requirements to develop the product strategy and propose book of work priority
     • Aggregate stakeholder platform requests and evaluate business justification in context of the platform strategy
     • Develop business cases for new platform functionality and enhancements
     • Interact with ITO to assess cost and feasibility and stakeholders to confirm business rational
  3. Oversee the delivery of the projects on the roadmap
     • Participate in the governance of projects with business and functional stakeholders
     • Communicate progress and roadblocks to senior management
  4. Own the product lifecycle for new services from product design to post-implementation review
  5. Develop pricing models, pricing guidelines for new platform functionality
  6. Improve and optimize cost efficiency of the platform
  7. Coordinate with Finance to define accounting flows and entries for relevant products 
  8. Coordinate with Tax to analyze and validate product vs tax policy 
  9. Prioritize major projects with sponsors in light of revenue and efficiency
• Management of platform and roadmap initiatives 
  1. Represent Product management in ITO pillar prioritization within the specific area coverage
  2. Manage relationships with key external stakeholders and builds partnership with relevant internal stakeholders
  3. Share the responsibility for the performance and functioning of the platform, keeping it under close supervision
  4. Timely escalation to the head of the team of any complex client or product issues and queries that require more seniority
  5. Contribute to the coordination of the product offering with the global team
  6. Support the development and growth of more junior colleagues to support their ongoing development within the Bank
• Market watch and representation to internal and external governance bodies

• • Contribute to market, competition and regulatory watch
  • Stay current on the evolving regulatory landscape and how this impacts both business and clients
  • Ensure platform compliance with Risk, Legal, and DEC Compliance requirements
  • Assess impact of regulatory change and include in planning

1. Advise client-facing teams of key updates that will enable them to discuss with clients
2. Join internal and external market/industry working groups to bring representative views 
3. Act as SME and contribute to internal audits and external regulatory audits

• • Develop and deliver product training and support on Product Offer for the Sales, Relationship Management and Client Solutions teams

1. Contribute to marketing material (i.e. pitchbook) in co-operation with Marketing and Client Development for the area they cover
2. Provide product specialist knowledge in client meetings across all Execution and/or Clearing product they are responsible for

• • Liaise with Sales to agree proposed commercials with the customer
  • Promote BNP Paribas through panels, conferences, thought leadership in industry forums

• • Maintain knowledge of professional clients, main profiles, needs, and relevant products and services for professional clients
  • Provide Specialist Knowledge in client meetings without close supervision

Preferred Qualifications: 

n/a

FINRA Registrations Required:

• 3 & 7

CFTC Swap Dealer Associated Person (if yes, NFA Swaps Proficiency Program is required): 

• Not Applicable 

SEC Security-Based Swap Dealer Associated Person:

• Not Applicable 

The expected starting salary range for this position is between $255,000 to $300,000 annually. The actual salary may vary based upon several factors including, but not limited to, relevant skills/experience, time in role, base salary of internal peers, prior performance, business line, and geographic/office location.

In addition, our comprehensive benefits package aims to support our employees in various aspects of their lives. From healthcare and wellness programs to retirement plans and childcare services, we prioritize the well-being and growth of our employees. Our benefits include medical, dental and vision coverage, a 401(k) Savings Plan, backup childcare, life, accident and disability insurance, mental health support and paid time off. Additional details about our benefits offerings, inclusive of eligibility for a discretionary bonus, will be provided during the hiring process.

This application will remain open until a candidate has been selected for the role. There is no specific application timeline.

About BNP Paribas:

BNP Paribas is a leading bank in Europe with an international reach across the US, EMEA and APAC. It has a presence in 65 countries, with nearly 190,000 employees. The bank employs over 3,500 people in offices in the US across 10 states including New York, Jersey City, Chesterbrook, PA, San Francisco, Boston, Chicago, Denver, Miami, and Washington, DC. BNP Paribas has built a strong and diversified presence to support its client base. We continue to grow and strengthen our commitment to the US market through our Corporate & Institutional Banking activities. We are one of a few non-US banks to offer a full value chain for our clients, from trading to financing, and clearing and custody in the US with the international footprint and capacity to deliver both globally and locally. Leveraging the strength of our European roots, our network can support clients in virtually every region of the world, enabling more connectivity and efficiency wherever our clients conduct business. We take pride in our expertise and our ability to adapt while constantly looking ahead to create a more sustainable world.

As an international company with a global footprint, the unique cultures and viewpoints of our team members are an integral part of the fabric of BNP Paribas. We are a company with a purpose - to be a responsible and sustainable global leader. We aim to create an environment where our employees feel empowered to drive change, make an impact and be true to themselves. We employ talented individuals from a wide variety of backgrounds, locally and globally, and are inspired by our employees who help us in cultivating a diverse, equitable and inclusive workplace through initiatives such as our Diversity, Equity & Inclusion (DEI) Leadership Forum and Employee Resource Group (ERG) communities. We strive to be a workplace where all team members can grow and thrive and offer robust training, development, and mentoring opportunities to make that vision a reality. Our leaders are deeply committed to DEI and highly accessible to our employees, consistently soliciting feedback on how we can continue to support our employees to reach their highest potential. 

BNP Paribas. The Bank for a Changing World - https://usa.bnpparibas/en/homepage/join-us/our-opportunities/

BNP Paribas is committed to providing a work environment that fosters diversity, inclusion, and equal employment opportunity without regard to race, color, gender, age, creed, sex, religion, national origin, disability (physical or mental), marital status, citizenship, ancestry, sexual orientation, gender identity and gender expression, or any other legally protected status.