BNP Paribas is the European Union’s leading bank and a key player in international banking. We operate in 65 countries and employ 190,000 people, including nearly 145,000 in Europe. Our Group holds key positions in its three main fields of activity: Commercial, Personal Banking & Services; Investment & Protection Services; and Corporate & Institutional Banking (CIB) for corporate and institutional clients.
Our Securities Services business, which forms part of CIB, is a leading global custodian providing specialist post-trade and asset servicing solutions to buy and sell-side market participants, corporates and issuers. Based in 35 locations around the world, our award-winning Securities Services teams have built one of the most extensive custody network in the industry, giving clients the connectivity and local knowledge they need to navigate change in a fast-changing world.
Company purpose:
Our company purpose is to contribute to a responsible and sustainable economy by financing and advising clients according to the highest ethical standards.
Our employer promise is built around three pillars:
• Being a great place to work
• Committed to sustainability and having a positive impact
• Being dedicated to the development of our people
Business area
Securities Services is a leading global custodian and securities services specialist that provides multi-asset post-trade and asset servicing solutions for buy and sell-side market participants, corporates and issuers.
The Global Head of Hedge Fund Services has overall responsibility for the management of the respective Client Line and Client Delivery responsibilities within the perimeter of the role, and to ensure that the respective local/regional teams are organised to drive the strategy and value proposition for our clients with a view to generate sustainable and profitable growth and to deliver quality services to clients
Job Purpose
Purpose & Scope of the position:
The specific purpose of the position is to organise and lead the following team structure:
- Go-To-Market Strategy which includes the articulation and promotion of the global strategy and value proposition for each regional Hedge Funds Services Client Line
- Products & Solutions designing the business operating models and client experience and driving related development to maximise the P&L of products, adapting to client needs.
- Product Management Framework, ensuring that product capabilities are fully aligned with Compliance, Risk and Conduct policies and develop standard product management practices
- Client Digital Experience, designing a combination of solutions to deliver an end-to-end user experience that exceeds clients’ expectations
- Strategic Client Integration, ensuring a consistent and efficient integration of new strategic business
- Client Delivery: provide a high-quality service to our clients in a secured operating environment.
- Improve efficiency by leveraging on digitalisation and industrialisation of our business delivery model
The role has risk reporting and escalation responsibilities for the respective product sets, client solutions within the perimeter.
Key Responsibilities
- Lead strategic market and competitive analysis for Hedge Fund Services including risks identification & assessment: market trends & drivers, wallet size, regulatory evolutions, client critical business issues and competitive positioning
- Define value proposition for Hedge Fund Services answering current and future client’s critical business issues, differentiating Securities Services from competitors, enhancing client digital experience and identifying required product developments
- Define a go-to-market plan to fully capture strategic growth opportunities while considering and managing financial and non-financial risks, articulate the Hedge Fund Services financial ambition and steer progress versus defined objectives
- Maximise Hedge Fund Services P&L by driving profitable growth, ensuring competitive client pricing, monitoring costs & expenses closely with Client Delivery, mitigating risks, ensuring strategic investments are aligned with Hedge Fund Services strategy
- Provide clients with superior insight on Securities Services value proposition and client segment thought leadership with a primary focus on strategic clients and transformational opportunities
- Along the Hedge Fund Services strategy, define and maintain selectivity guidelines aiming to define the targeted business scope (clients & prospects / products), taking risk patterns into account and in line with Group, CIB and 2S risk policies.
- Manage portfolio of products under responsibility and drive related development with the objective to increase penetration across all Client Lines and maximise P&L while identifying, assessing and mitigating financial and non-financial risks
- Prioritize all Client Lines requirements and align product capabilities to regulation
- Identify required investments, develop a roadmap and ensure it is properly executed
- Ensure all risks pertaining to the portfolio of products under responsibility are properly assessed and mitigated
- Support the product development process (incl. TAC/NAC)
- Develop standard pricing policies
- Act as sponsor for relevant TAC/NAC activities
- Design and maintain business operating and client experience models in line with client needs, in coordination with Client Delivery and Client Development
- Drive an overall client-centric approach, foster entrepreneurial spirit and collective behaviour
- Design and maintain the Global Target Operating Model for HFS Client Delivery.
- Bridge Hedge Fund Services Client Delivery with other Securities Services activities.
- Deliver high-quality service and client experience
- Improve efficiency of the business delivery model and ensure its compliance with regulations, market infrastructure evolution and BNP Paribas internal control rules
- Minimise the operational risk and ensure the business continuity plans are available and tested. Ensure both financial and non-financial risks are closely managed and monitored
- Ensure the business delivery model is relevant for our clients’ actual and future needs and ensure a smooth implementation of new products and solutions
- Ensure the transversality of our business delivery model to facilitate end-to-end integrated services for the benefit of our clients
- Lead the digital transformation and pursue the 2S business delivery model industrialisation by notably continuing to leverage on the operational hubs
- Manage the business IT and its transformation plan to satisfy actual and future client needs in collaboration with the IT function
- Monitor and optimise Operations and IT cost base
Requirements
Essential
- Proven experience in a similar position servicing Alternative clients (including strategic planning, commercial influence and negotiation, p&l management)
- Excellent understanding of the securities services industry and its trends with deep knowledge of the Alternatives industry
- Strong working knowledge and experience within risk management
- Excellent networking skills, ability to co-ordinate internal and external stakeholders and negotiate solutions and client facing skills.
- Excellent decision-making skills
- Entrepreneurial Self Starter
- Strong marketing and client centric focus
- Strong operations background with transformation skills with excellent understanding of technology, especially related to the Hedge Fund segment
- Coordination and organisational skills
- Sound analytical skills
Preferred
- Proven project management expertise, with strong transversal components (cross-business lines).
- Extensive experience at a similar position in an organisation servicing Hedge Funds and Funds of Hedge Funds clients.
- Proven experience in defining and implementing cost optimization programs (e.g. offshoring strategy).
And of course, we expect all our colleagues to embody and practice the Group values (alignment with the Bank’s strategy, commitment, work ethic, integrity and Code of Conduct).
A bit more about why you should join us
1. We’re a great place to work
We aim for optimal work/life balance (depending on role, this includes hybrid working, flexible working and agile)
We are proud of our award-winning flexible benefits and health & wellbeing strategy. Our flexible benefits include:
• Generous holiday allowance of at least 26 days (plus bank holidays) – with option to buy and sell holidays.
• Valuable financial plans – a 12% non-contributory pension which has been moved to sustainable investments*, life assurance*, income protection and personal accident insurance.
• Extensive wellbeing and mental health offering – one of the most advanced private medical schemes in the UK, dental cover, wellbeing app, Cognitive Behavioural Therapy support, subsidised gym memberships, bespoke health assessments including genetic testing, Private GP (including digital GP services to parents of employees), Employee Assistance Programme, menopause & fertility support (we are an accredited Menopause Friendly Employer), neurodiversity assessment and support.
• Key onsite services and facilities in London – include physiotherapy, nutrition, massage therapy, physiology, mental health first aiders, seasonal flu vaccinations and free onsite fitness centre.
• Plus, emergency back-up care for dependants, green car leasing, season ticket loan, and a range of other benefits.
* Subject to relevant caps
2. As the eurozone’s largest bank, we are committed to having a positive impact in the world.
For example, we are committed to Net Zero in all of our financing and investment portfolios by 2050. By 2030, 80% of our energy production financing will be low carbon.
But impact for us means more than climate. It means empowering our people every day. Everyone gets four volunteering days each year - in 2023, we achieved over 18,000 hours of volunteering across the UK and reaching over 4,500 young people.
3. We believe in our people
We support our people to develop skills to adapt to the ever-evolving world of work and to prepare for the jobs of today and tomorrow. We do this through a comprehensive training offering, talent programmes, mentoring, career days and inhouse career tools.
We are proud of the number of our people who progress and secure new roles internally. In fact, in 2023, nearly half of our positions in UK CIB were filled internally.
Investing in our people also means we have a collaborative and inclusive culture:
• Direct feedback from our people shows that our internal culture sets us apart from our industry peers.
• Each year, nearly 30,000 employees globally are involved in professional networks that play an active role in promoting Diversity and Inclusion within the Group. These include our:
Pride Network, Ability Network (which supports disabled employees), MixCity (gender equality network), Women in Global Markets, Women in Global Banking, Women in IT, Diversity Equity & Inclusion in Technology, Early Careers Network, Multicultural Network and Parents & Carers Network.
Equal opportunities
BNP Paribas is committed to providing a work environment that fosters diversity, inclusion, and equal employment opportunity without regard to age, disability, gender reassignment, marriage or civil partnership status, pregnancy and maternity, race, religion or belief, sex or sexual orientation, or any other legally protected status.
Adjustments
We don’t want anyone to be disadvantaged in our recruitment processes, so if you have a disability or health condition which may mean that you’d benefit from some adjustments or additional support, please let us know as early in the process as possible.
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