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Flow and Light Exotic Options Trader

Horaires Temps plein
Marque BNP Paribas
Niveau d'études Niveau BAC+2/3
Postuler REF: GLO002541

BNP Paribas Overview

 

BNP Paribas has a presence in 73 countries with more than 198,000 employees, including 145,000 in Europe. It ranks highly in its two core activities: Retail Banking & Services and Corporate & Institutional Banking (CIB).

 

 

BNP Paribas Corporate & Institutional Bank is a leading European investment bank with global leadership in many of our businesses. With nearly 30,000 employees in over 57 countries, CIB can offer you an exciting and truly global career.

 

At BNP Paribas CIB, we work continuously on behalf of our clients, helping them to realise their projects around the world. You can be an important part of this, helping us to serve our clients both in mature and emerging markets, providing them with financial solutions across a diverse range of expertise, products and services. Our  

origins lie in Europe but nearly a quarter of our employees now work in our multi-award-winning Asia Pacific offices and we are a committed player in all markets.

 

 

Strong risk management, combined with the stability that comes from being part of one of the largest banking groups in the world, underpin our success. Joining us, you’ll become an integral part of a dynamic team that spans nationalities, cultures and backgrounds, drawing together people from around the globe and reflecting our commitment to international placements.

 

 

Department purpose / objectives

 

Global Markets is BNP Paribas’ capital markets business within the Corporate & Institutional Bank (CIB), delivering solutions across asset classes, and industry-leading services for clients including Institutionals, corporates, private banks and retail distribution networks.

 

Global Markets encompasses seven global business lines; G10 Rates, Equity Derivatives, Forex & Local Markets, Commodity Derivatives, Credit, Prime Solutions & Financing and Primary Markets, helping their franchise of clients find effective ways to raise and invest capital as well as manage their exposure to risk.

 

Global Markets is made up of over 3,700 staff globally based in EMEA, the Americas and Asia Pacific, with the main trading floors located in London, Hong Kong, New York, Paris, Singapore and Tokyo.

Purpose of the position:

 

To trade the liquid part of the GBP Vanilla Interest Rate options and provide backup on the EUR gamma desk when required. Develop the pure flow book on Bond Options and on light exos (midcurve, spread options) for FMs. Develop the franchise by sending out relevant market colour and good risk/reward trade ideas to Institutional clients.

 

 

 

Specific Responsibilities of Role:

 

- Buying and selling a defined range of GBP/EUR Rates Options and within defined limits originate trading positions on behalf of the Firm.

- Monitor market news and events and evaluate the risk and opportunities for clients and the firm's positions and strategy

- Working collaboratively with Sales, FIRST, Structuring and Research team to deliver the firm to our target clients.

-Help to develop the franchise by sending out relevant market colour to client and recommending good risk/reward trades for our institutional clients.

Develop/liaise with IT to build better tools for better risk management and capturing relative value opportunities in the market.

- Focusing on trades with the right profitability and risk/reward balance.

- Monitoring market news and events and evaluate the risk and opportunities for clients and the firm's positions and strategy.

- Contributing to and facilitating with trading middle office, the confirmation of daily P&L at the close of the day.

- Attending relevant regulatory and product/skill training and keep up-to-date with market issues.

- Preparing a P&L explanation each day and escalate any unexplained elements to their desk head for sign off.

- Directing contribution to BNPP operational permanent control framework.

- Understanding and valuing all business and transaction related risks, including market, credit, operational, compliance, legal, regulatory and reputation risks.

 



Skills & Qualifications

- Degree educated (at least Masters) in a numerical discipline from a leading University

- Prior experience in trading vanillas/light exo interest rates options and bond options on European government bonds is essential.

  -Prior experience on a flow desk covering Macro Hedge Funds and large Asset managers for EMEA rates products is required as an important part of the job is to drive the business by identifying and pitching macro as well and relative value trade ideas to our institutional clients.

Completion of the CFA and FRM programs will be viewed favorably.

- Strong theoretical knowledge of option pricing and theory is essential

- Knowledge of Rates products and the wider market is strongly preferred

- Discipline and active approach to risk management is essential

- Ability to work in a team and to contribute with trade idea generation

- Ability to interact with other desks and with clients.


Competencies required for the role:

Drive for results ‐ Delivers high quality work

 

Risk awareness ‐ Demonstrates a good awareness of risk and fundamental risk concepts. Always considers risk in his/her daily activities and abides by the Key Front Officer Responsibilities, where relevant

 

Corporate role model, integrity & ethics ‐ Acts with discipline and high ethical standards

 

Team player & cross cultural awareness ‐ Works effectively in a team. Collaborates and shares information and solutions with colleagues, with other teams and stakeholders

 

Client focus ‐ Sees stakeholders as well as external clients as “customers”

      

Technical competencies

 

Market, product & business ‐ Is genuinely interested in financial markets and continually learning and staying abreast of new developments. Evidences a good appreciation of economics and market dynamics, with enough understanding to present views on market conditions and trends

 

Business risk ‐ Understands the market, credit, operational, compliance, legal, regulatory and reputational risks of transactions he/she managers

   

  

Essential personal skills

      

Diligence ‐ Displays dedication and prioritises problems by considering the impact on the business; identifies quick‐wins

      

Resilience ‐ Stays calm and positive, controls his/her emotions in conflict or any situation of intense stress ﴾due to market,time or client pressure﴿.

 

Communication ﴾Active listener and clear communicator﴿ ‐ Communicates clearly in both native and English languages.

      

Communicates pro‐actively with management, escalating issues as necessary.

 

Innovation ‐ Thinks laterally to identify other sources of useful information and sees ways around obstacles and barriers.

 

 

Conduct

 

Be a role model, supporting and fostering a culture of good Conduct

Demonstrate proactivity, transparency, and accountability for identifying and managing conduct risks

Consider the implications of your actions on colleagues, partners and clients before making decisions, and escalate issues to your manager when 

Technical skills and qualifications required for the role

Market, product & business ‐ Is genuinely interested in financial markets and continually learning and staying abreast of new developments. Evidences a good appreciation of economics and market dynamics, with enough understanding to present views on market conditions and trends

 

Business risk ‐ Understands the market, credit, operational, compliance, legal, regulatory and reputational risks of transactions he/she managers

 

Strong quantitative background with experience in maths applied to finance

 

IT skills, XL, developing in VBA

 

  

Business risk

Demonstrates a good awareness of risk and fundamental risk concepts.  Always considers risk in his/her daily activities and abides by the Key Front Officer Responsibilities (and FXLM Principles) and  Guidelines. Understands the market, credit, operational, compliance, legal, regulatory and reputational risks of transactions he/ she manages

  

Essential personal skills

  • Effective communicator who can align people to the broader vision for the business whether they are directly managed or simply influenced by the individual in question

  • Communicates pro-actively with management, escalating issues as necessary.

     

 

Diligence

 

  • Displays dedication & prioritises problems by considering the impact on the business; identifies quick-wins

 

Resilience

 

  • Stays calm and positive, controls his/her emotions in conflict or any situation of intense stress (due to market, time or client pressure).

  • Ability to undertake a number of  issues simultaneously is essential as well as the ability to work under considerable pressure

  • Passion, tenacity and resilience in an ever changing environment

 

 

 

Innovation

 

  • Thinks laterally to identify other sources of useful information and sees ways around obstacles and barriers.

 

 

Please note that all applicants must disclose whether that they possess the right to work in the U.K. as per the Immigration, Asylum, and Nationality Act of 2006.

 

Primary Location: GB-ENG-LondonJob Type: Standard / PermanentJob: FINANCIAL AND TECHNICAL EXPERTISEEducation Level: Bachelor Degree or equivalent (>= 3 years)Schedule: Full-time Behavioural competency: Resilience, Client focusedTransversal competency: Ability to conduct a negotiation, Ability to set up relevant performance indicators