BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 73 countries, with more than 196,000 employees, including around 149,000 in Europe. The Group has key positions in its three main activities: Domestic Markets, International Financial Services (whose retail-banking networks and financial services are covered by Retail Banking & Services) and Corporate & Institutional Banking, which serves two client franchises: corporate clients and institutional investors.
BNP Paribas Corporate and Institutional Banking is a globally recognised leader offering capital markets, securities services, financing, treasury and advisory solutions.
The mission of RISK MFI A&D Market & Liquidity Risk (“MLR”) is to provide Senior Management of the Group, of the RISK Function and of Global Markets (“GM”) with full transparency and dynamic analysis with respect to the market and liquidity risks originated and managed by CIB GM, in order to assist them in their risk decision making.
The MLR GBLs teams cover the market and liquidity risk generated by the GM Global Business Lines (GBLs) [Global Credit, Global Equities, Global Macro] as well as GM Liquidity.
This role covers Global Equities.
- Business line leadership
Centre of expertise and point of contact for the business line, able to provide a holistic view of risks and activities, escalating issues as appropriate. Understanding the application of processes under the responsibility of other RISK MFI teams to the business line.
- Risk anticipation and detection
Anticipation, detection, monitoring, analysis, and opinion on all market and issuer risks:
- Early identification and in-depth review of hidden risks and potential threats, concluding with a clear view and recommendation for risk mitigating actions.
- Escalation to RISK and business management.
- Risk control framework
Design and continuous improvement of the market risk control framework including risk analysis tools, limits and stress testing. Holistic vision on valuation and capital metrics, escalating issues or concerns in these areas.
Management of specific processes
Business line leadership
- Point of contact for GM on GBL market risk topics.
- Articulation of main risks and risk opinion to management.
- Review of and opinion on information and views provided by GM.
- Understanding valuation, capital, funding, and liquidity impact of business line.
- Provide support as business-line expert to other RISK teams.
- Understand business-line valuation models and methodologies and escalate weaknesses and concerns.
- Understand market risk capital framework and escalate weaknesses and concerns.
- Market risk analysis of structured/complex transactions as part of New Activity Committee/Transaction Approval Committee (“NAC/TAC”).
Risk anticipation and detection
- Understanding the valuation, risk and P&L of business line activities in the context of current, past and potential market conditions with a focus on the “Cash Equity” stream (Electronic Execution and High Touch)
- Animation of Main Position meetings and other forums with the business line, providing independent risk analysis and opinion, escalation of risk topics, and challenge to the business view.
- Providing accurate and appropriate risk information and opinion to the Financial Markets Risk Committee (“FMRC”) and other senior management forums. Escalating risk topics to senior management as needed.
- Performing in-depth, ad hoc analysis, formulating an opinion and escalating as needed, while judging priority, on any and all market risk topics affecting the business line.
- Reporting market risk exposure and measures (e.g. VaR, stress tests).
Risk control framework
- Analysing the business line with the tools available, driving the improvement of these tools, and ensuring that risks for which tooling or data is inadequate are nevertheless adequately understood.
- Setting and ensuring timely review of market risk limits in line with RAF.
- Escalation of limit excesses.
- Provide support to the definition and application of IPV methodologies and control of non-tradable/exotic market parameters.
- Review and approval of the market risk of transactions outside of Transactions team scope, with reference to the Exceptional Trade/Maximum Permitted Maturity frameworks.
- Approval of amendments to trading mandates for French Banking Law/Volcker Rule desks.
- Definition of risk measurement methods such as stress tests (Stress Test Committee responsibility), regulatory measures (dedicated committees), VaR methodologies (dedicated “MARCo” committee).
- Work with Platform, Risk Systems and GM to ensure appropriate market risk representation.
- Provide support for regulatory requests and missions: e.g. On-Site Inspections, Quantitative Impact Studies, Bank Reform Committees (e.g. the “Sub-ICC”).
- Contribution to collateral eligibility process.
- Support assessment of quality, liquidity and price volatility of securities;
- Recommend valuation methodologies of complex collateral in collaboration with the Valuation Model Risk Team.
- Contribute to Non-Standard Booking process including Complex Booking approval, review of approximate booking and non-contractual data methodologies (where not covered by Platform).
- Contribute to FBL/Volcker Rule control plans.
- Participate in VaR sign off process.
Collaboration and communication
It is the collective responsibility of the different RISK MFI teams to ensure smooth collaboration between the A&D and Platform, and between the different sub-teams. It is the responsibility of each team to be alert to and act against the formation of silos or other hindrances of smooth and efficient collaboration.
- Coordinate market risk analysis across a range of contexts.
- Continuously improve market risk processes and frameworks, leveraging on experience and best practices.
- Deploy specialised knowledge and expertise in assessment of market risks. Establish appropriate monitoring and reporting.
- Deliver projects at the scale of a single or a few activities, and with some cross-functionality. Contribute to larger projects
- Develop deeper relationships with business to understand needs. Use this knowledge to contribute to the processes and framework.
- Good developed judgement regarding when and how to escalate. Support and act as resource for more junior staff.
- Provide leadership within team, taking responsibility for subjects worked on collectively.
Skills & Experience Required
- Education: Graduate/Post-graduate in relevant subject (e.g. Finance, Economics, Sciences)
- Expert applied knowledge of capital markets, derivatives (products and markets, trading/risk management, vanillas and exotics).
- Excellent organizational and communication skills
- Excellent analytical abilities
- Proficiency in relevant IT skills and packages (e.g. Excel, VBA, Python/R)
- Collaborative approach to team work.
- Capacity for critical judgement.
- Creative and imaginative problem solving.
- Rigorous attention to detail
- Good knowledge of industry and regulation.
- People-management skills
- Leadership skills
- Project management
BNP Paribas promotes equality of opportunity and is committed to ensuring that no individual is discriminated against on the grounds of age, disability, gender reassignment, marriage or civil partnership status, pregnancy and maternity, race, religion or belief, sex or sexual orientation.
As an employee with BNP Paribas London Branch, we want to make sure that you are rewarded for your commitment. As such, you will be entitled to our award winning benefits package which includes a generous holiday allowance of at least 34 days (including bank holidays), a non-contributory pension of 12%, private healthcare, GP service and dental cover all as standard, along with a number of personal insurances such as income protection, life assurance and personal accident insurance. We believe in ensuring all our employees have a positive work life balance so in addition you will also have access to a variety of flexible lifestyle benefits such as cycle to work and green car leasing schemes, season ticket loans and reduced cinema and gym membership to name a few.