Head of UK Private Capital - Director

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 with a special emphasis on growing the Private Capital book of business globally. Within the UK, Private Capital is a high-profile business area comprised of 2 key functions within Client Delivery:

• Private Capital Fund Accounting & Administration services, working in partnership with Channel Islands based operational and management teams to enable the continued strategic growth in Private Capital from our UK based client book with Funds domiciled across Channel Islands, Luxembourg and the UK
• Loan Solutions, working to deliver products and solutions to Asset Manager and Asset Owner clients investing in Private Debt (corporate loans), Infrastructure Debt and Real Estate Debt. This includes providing Loan Administration, Collateral Administration and loan trading closing services designed specifically for General Partners investing in Loans.

Job purpose 

The Head of UK Private Capital will lead and drive Client Delivery across the full suite of Private Capital Fund Accounting & Administration and Alternatives Loan Solutions activity, acting as part of a wider management team

The role involves a high degree of client contact and communication, as well as internal co-ordination both locally and with other Client Delivery teams in the CI and Global Private Capital business. The Head of UK Private Capital will need a forward-looking approach, providing input into an evolving operational model that services production of the clients' requirements covering the three core elements of Platform, People, and Processes. The incumbent takes management responsibility and accountability for our clients' day-to-day deliverables.

Operating as a senior leader within the UK Fund Services leadership team, the Head of Private Capital will define, lead and deliver the ongoing growth strategy for the UK Private Capital model in alignment with the Channel Islands and Global Private Capital operating model as well as acting as the UK escalation point, where appropriate, for clients serviced by the UK Private Capital team 

These responsibilities are to be performed within the policy, objectives and strategic direction approved by the local UK Head of Fund Services and COO Private Capital, Channel Islands & UK

Key responsibilities

Service Delivery, Risk and Control

• To lead the collective UK Private Capital and Loan Solutions Client Delivery teams responsible for the day-to-day servicing of our clients, working with other relevant teams within the Business, and acting as a senior escalation contact for clients serviced by the UK Private Capital team 
• To ensure that our clients fund structures remain fully compliant with the relevant legal and regulatory requirements, fund prospectus, structuring and applicable accounting and administration standards on an ongoing basis
• To ensure that services are in line with the agreed client KPIs, SLA requirements and contractual terms. As and when client requirements evolve then SLAs and terms should be revised as appropriate, working in conjunction with Client Line
• Ensure client and internal change impacting your department is implemented with no detrimental impact to service delivery
• Work with the CI and Global Private Capital teams to drive continuous improvement and efficiencies through the adoption of system enhancements and automation as they are developed, enabling standardised processes that are aligned with the Global operating model
• Whilst supporting the continued evolution and development of our Global operating model, consider at all times the operational risk relevant to our clients service delivery requirements, and ensure that we have appropriate controls implemented and procedures are well understood in production. Working with the Private Capital Business & Digital Solutions team, maintain a robust framework for delivering optimal client service in the safest possible environment
• Proactive closure of actions following incidents, audits and reviews
• Responsible for the Business Continuity plans for UK Private Capital and Loan Solutions, including familiarisation and testing of plans across the department
• To embed a strong risk & control culture within the department and adherence to the Group risk management framework

Team 

• Develop the UK Private Capital and Loan Solutions teams in terms of growth and culture, providing aspirational leadership and support to staff responsible for the operational delivery of services to our clients
• Lead, motivate and retain staff ensuring sufficient resource planning is in place for new and existing business, working with Senior Management to achieve this. Support the production of career ladders for staff, including provision for training and development opportunities that are in line with both their personal development and our business strategy
• Ensure the Managers manage their staff with the objectives of building competency, capability and progression alongside their day-to-day technical production activities. Use these elements to build succession planning into the operational model 
• Participate effectively in the recruitment and employee on-boarding process, ensuring that all new joiners receive a positive induction experience and that probation processes are conducted appropriately
• Act in full accordance with all aspects of the UK management charter & UK HR policies & guidelines
• Promote inclusion & respect the code of conduct
• Be accountable, and drive accountability within your team, for general management responsibilities such as objective setting, performance and absence management as well as regular team and one-to-one meetings

Business Growth and Strategy

• Provide a positive contribution towards working with the Global teams to optimise the delivery of our services. This role requires significant connectivity at the local level, but also importantly within the wider Group to enable collaboration with other locations and SME’s in delivery of our client’s requirements, and to ensure that Global capabilities are leveraged to the maximum extent
• Work with our partner clients, Client Line and the Private Capital Business & Digital Solutions team to understand how our day-to-day operational services can meet clients' current and developing requirements, regulatory requirements and market requirements in order to contribute towards a set of solutions and services that are profitable, client aligned, efficient, risk managed and competitive
• Stakeholder Management including liaison with various Fund Sponsors, Auditors, Board Directors, Regulators and other external and internal bodies for operational related activities. 
• Ensure integration with the wider Private Capital business and good co-ordination of both local and global stakeholders.
• Participate in RFP processes and new business presentations as appropriate
• To engage with Client Development and Client Line teams and support the effective management of the client relationships as appropriate

Budget Management

• Ensure all expenditure is within budget and authorising limits unless approved otherwise
• Monitor unit cost and capacity drivers across the suite of private capital services and develop MI to support key decision making 
• Oversee the T&C regime of your department and ensure adherence to company policy
• Work with the CI Private Capital team and Client Line to periodically review profitability, costs and allocation of resources across clients and ensure that it correctly reflects the work being undertaken 
• In a controlled risk environment and in alignment with the global strategy, managers must ensure full compliance with Conduct policies:
• Ensure Conduct governance is fully operational, as per standard guidelines: Conduct is a standard item at the agenda of management or team meetings, Conduct dilemma are well managed and documented, the escalation process is in place, Conduct responsibilities are delegated throughout the perimeter in charge
• Be aware of the Conduct risks arising in the perimeter in charge and make sure that appropriate mitigating processes and controls are in place
• Ensure Conduct principles are fully embedded in processes including people management processes (appraisal, promotion, mobility, recruitment, …)
• Develop understanding of Conduct principles by ensuring staff participation to awareness & training sessions 

Requirements

Essential Requirements

• Demonstrable experience leading large teams of technical experts preferably within private capital
• Proven track record in servicing Private Capital Structures across a broad range of asset classes
• A thorough detailed knowledge of various Private Capital fund structures and the administration and accounting required as well as a strong understanding of the valuation process for complex financial instruments and the economics involved in transactions involving these
• In depth knowledge of industry recommended standards (e.g. BVCA, ILPA, IPEV) and how they are applied in practise
• First class stakeholder management skills with the ability to connect with all levels of stakeholders internally and externally
• Proven leader & change agent with the ability to inspire, motivate and engage teams through transformational change
• Strong track record in operations and controls
• Client focus & results driven
• Strong written and verbal communication (internal and external)
• Strong Planning & organising inclusive of project management/sponsorship experience
• Professional Accounting Qualification (ACCA/ICAEW or equivalent) would be an advantage, although not essential

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 Scotland – include free monthly massage and yoga, mental health first aiders and seasonal flu vouchers.
• 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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