IRD Exotic Trade Validation - Associate

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

Encompassing a variety of different teams globally across Global Markets and ALMT perimeters:

• In accordance with the Charter of Responsibility on Valuation defined within the Group, Product Control is responsible for the accuracy of the economic result calculation for the Business, Risk and Finance departments. To do so, the P&L team is in charge of P&L production and analysis, performance reporting to management, and controls on Valuation in cooperation with Group Risk Management and Finance.
• Within Product Control, Trade Support’s function over flow and exotic products for Global Markets is the monitoring of transactions, the Front-to-Back workflow from FO to Post Trade systems and the validation of trade representation.
• Product Control acts as a second level control function for the benefit of Heads of GBLs and ALMT to monitor that trading activity is conducted within a specified framework.
• Product Control is part of the control framework for valuations (“Independent Price Verification” process) and Anti-Fraud. As a consequence, Product control is the point of contact for operations on valuation, risk or trader mandates related issues.
• Product Control is a key contributor to projects related to Finance or Regulatory requirements.
• Product Control sponsors and contributes to strategic transversal projects related to their mandate and other ad hoc analysis as necessary.

Job purpose 

The role of the IRD Exotic Trade Validation – Associate is accountable for the delivery of the IRD Exotic Derivatives Trade Support Activities within the OTC & LD Trade Validation team which processes any OTC & LD Transaction for which terms & conditions are negotiated, with the mandate to ensure that it is correctly represented in the booking system, consistent with the sale and allocated if necessary. They will also ensure that the transaction is correctly feeding FO to BO booking systems.

Scope

• The IRD Exotic Trade Support team supports the activity of EMEA traders across FICC derivatives

Key responsibilities

• Management of flow of new trades and amendments from Front Office systems  to Back Office system 
• Manual booking of simple to intermediate complexity trades with minimal errors initially, developing to advanced complexity trades 
• Reconciliation between Front Office systems and Back Office system, checking Present Value are in line, as well as other economic details 
• Working with Middle Office P&L and confirmations teams to reduce operational risk and maintain highest levels of support for each portfolio. 
• Build and maintain good working relationships with internal and external clients
• Ensure accurate and timely processing of rebooking initiatives and migrations
• Oversee all reconciliations and reports in the area and investigations are completed on a timely basis. 
• Dealing with queries from internal and external clients, relating to booking discrepancies. 
• Provide cover for other members of the Trade Support team when necessary, ability to flex between teams depending on daily volume and demand. 
• Management of Options (expiry report, checking confirmations, processing etc). 
• Contribute to the implementation of new system functionalities and raise IT requirements for bug fixing or system enhancements when possible. 
• Participate, in Transversal projects.

Requirements

• Typically require a university degree as an indicator of an ability to understand and apply complex theoretical concepts, although may have progressed into the role via equivalent business experience. 
• Experience within Financial Services or a similar control environment
• Knowledge and understanding of IRD Exotic products and trade support processes. 
• High degree of interest in product and process issues affecting the department
• Strong analytical skills and ability to meet deadlines and objectives 
• Ability to handle multiple tasks simultaneously and prioritise independently
• Stakeholders management skills and ability to collaborate across teams
• Effective time management and ability to prioritise workload and escalate issues to management. 
• Good written and oral English skills in order to articulate technical issues associated to work area. 
• Strong focus on accuracy and attention to detail
• Computer literacy and a good knowledge of standard computer software and able to learn and utilise specialist applications appropriately

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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