Job Title: FICC, ALMT & IAC Controls - Assistant Manager
Department: Global market Operations
About Business line/Function:
Global Market Operations, also known as COE (Center of Excellence) is further divided into 4 departments i.e. Trade Processing & Support, P&L and Valuation Controls, Client Management & Change Management. Product Control in the wider market outside of BNP is Middle Office. Product Control consists of streams like Documentation & Reconciliation, Trade Support, P&L and Valuation Controls & Trading Portfolio & Controls. Product Control teams are in regular contact with Market Front Office, Regional Back Office’s and Regional Finance & other support teams for their BAU.
Within CIB Global Markets Operations, Valuation Controls (VC) is a global function whose main missions are articulated around second level control hubs in Europe, Asia and the Americas.
Valuation Controls, in conjunction with RISK MFI, is in-charge of independently verifying, analysing and reporting on the market parameters used in the valuation, as well as analysing the impact of the use of independent market parameters in the valuation.
Position Purpose:
Purpose:
- To support and control the accurate and independent marking of all parameters as required by regulators along with the derivation, analyse and reporting of results.
- To work on improving IPV (independent price verification) set up with the aim of increasing the accuracy of the figures and the efficiency of the processes.
Scope:
- The scope of the IPV production is aligned by the parameters & GBL’s covered by EMEA Global Markets Valuation Controls team and may change due to new business requirements.
Responsibilities
Direct Responsibilities
* · Ensure the daily IPV (aka independent price verification) of prices for the whole Global Equities activity (Equity Derivatives + Prime Services)
· Ensure the monthly independent price verification of prices for the not complex scopes of Global Equities activity (Equity Derivatives + Prime Services)
· Analyse the drivers of the IPV and communicate clearly the IPV impact and any IPV issues to the appropriate teams.
· Ensure accurate submission to external consensus provider (if necessary).
· Perform second level of control in application of RISK guidelines in the valuation calibrations.
· Be the face of the VC team on questions related to IPV processes and be able to decompose, descript and explain the process front to back.
· Gradually be a participant in discussions with Risk, FO, Finance, Auditors and management for issues/improvements/challenges related to IPV.
· Gradually build and maintain relationships with other Product Control teams, Front Office, Middle Office, Finance and Risk-GM based on trust, respect and professionalism.
· Maintain accurate and clear SOPs (Standard operating procedure) on the allocated IPVs.
· Show initiative to review, challenge, identify and recommend improvements on processes that will benefit control and efficiency. Once approved ensure accurate implementation and update SOPs.
· Contribute to the Cross Risk dashboard by feeding IPV indicator.
· work on the automation of manual processes launched via Excel/VBA/Python spreadsheets and/or Access databases.
· Improve and make evolve our internal systems with the help of IT teams.
Technical & Behavioral Competencies
· Prior experience in Valuation or product control or RISK
· Mathematical or financial academics
· Ability/Confidence to interact at all levels and in a concise manor.
· Strong written and verbal communication skills.
· Willingness to find workaround solutions on issues independently before seeking external assistance.
· The ability to find workaround solutions in the time available.
· Attention to detail.
· Strong product knowledge across a wide range of asset classes including an area of expertise.
· Strong Python skill combined with VBA. The ability to understand and debug spreadsheets efficiently.
· The ability to see the large picture and the impact and changes with have on V&RC and the business.
· Ability to prioritize and systematically organize tasks, demonstrating sensitivity to urgent matters, completing tasks in a timely manner.
· Capability to develop understanding of complex situations.
· Capability to research solutions and gather data from many sources to ensure understanding of all relevant aspects.
· Ability to think pragmatically and step back to take perspective.
· Ability to acquire new knowledge/skills from project/assignment that is utilized in future work.
· Appetite to learn new concepts and seek professional development.
· To be able to work individually and as part of a team across Valuation Controls both locally and globally.
- · Consider the implications of your actions on colleagues, partners and clients before making decisions, and escalate issues to your manager when unsure.
Skills Referential
- Behavioral Skills: (Please select up to 4 skills)
- Ability to collaborate / Teamwork
- Critical thinking
- Creativity & Innovation / Problem solving
- Resilience
Transversal Skills: (Please select up to 5 skills) - Ability to set up relevant performance indicators
- Ability to develop others & improve their skills
- Analytical Ability
- Ability to develop others & improve their skills
- Ability to understand, explain and support change
Education Level: Bachelor’s degree or equivalent
Experience Level: At least 3 years - Other/Specific Qualifications (if required): B.Tech, + MBA / CA / CFA / FRM
Location: Bengaluru
About BNP Paribas Group:
BNP Paribas is the European Union’s leading bank and key player in international banking. It operates in 65 countries and has nearly 185,000 employees, including more than 145,000 in Europe. The Group has key positions in its three main fields of activity: Commercial, Personal Banking & Services for the Group’s commercial & personal banking and several specialized businesses including BNP Paribas Personal Finance and Arval; Investment & Protection Services for savings, investment, and protection solutions; and Corporate & Institutional Banking, focused on corporate and institutional clients. Based on its strong diversified and integrated model, the Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realize their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, BNP Paribas has four domestic markets: Belgium, France, Italy, and Luxembourg. The Group is rolling out its integrated commercial & personal banking model across several Mediterranean countries, Turkey, and Eastern Europe. As a key player in international banking, the Group has leading platforms and business lines in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific. BNP Paribas has implemented a Corporate Social Responsibility approach in all its activities, enabling it to contribute to the construction of a sustainable future, while ensuring the Group's performance and stability.
About BNP Paribas India Solutions:
Established in 2005, BNP Paribas India Solutions is a wholly owned subsidiary of BNP Paribas SA, European Union’s leading bank with an international reach. With delivery centers located in Bengaluru, Chennai and Mumbai, we are a 24x7 global delivery center. India Solutions services three business lines: Corporate and Institutional Banking, Investment Solutions and Retail Banking for BNP Paribas across the Group. Driving innovation and growth, we are harnessing the potential of over 10000 employees, to provide support and develop best-in-class solutions.
Commitment to Diversity and Inclusion
At BNP Paribas, we passionately embrace diversity and are committed to fostering an inclusive workplace where all employees are valued, respected and can bring their authentic selves to work. We prohibit Discrimination and Harassment of any kind and our policies promote equal employment opportunity for all employees and applicants, irrespective of, but not limited to their gender, gender identity, sex, sexual orientation, ethnicity, race, colour, national origin, age, religion, social status, mental or physical disabilities, veteran status etc. As a global Bank, we truly believe that inclusion and diversity of our teams is key to our success in serving our clients and the communities we operate in. As a global Bank, we truly believe that inclusion and diversity of our teams is key to our success in serving our clients and the communities we operate in.
