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
BNP Paribas Global Markets provides cross-asset investment, hedging, financing, research and market intelligence to corporate and institutional clients, as well as private and retail banking networks. Global Markets' sustainable, long term business model seamlessly connects clients to capital markets throughout 38 markets in EMEA, Asia Pacific and the Americas, with innovative solutions and digital platforms. Through Global Markets, clients can access a full universe of opportunities in equity derivatives, foreign exchange and local markets, commodity derivatives, rates, primary and credit markets and prime solutions and financing.
Job Purpose
The eTrading team on Commodities is working on 3 main areas:
- Improve BNP Paribas Single Dealer Platform Cortex CD, in order to target client of the bank.
- Improve the pricing and the risk management of deals done on the SDP.
- Improve the execution of the QIS (Quantitative Investment Strategy) desk by replicating the roll execution at the settlement.
The scope of products traded includes Energy, Base Metals, Agri and Emissions certificates.
Key Responsibilities
AMM (Automated Market Making) work ranges from building electronic market making strategies, algorithm design, execution strategies to provide liquidity internally and externally on large range of products and subsequently hedging risk inherited from internal and exchange flows. The commodities underlying in the scope are currently oil, base metals, agricultural products, emissions allowances, EU GAS, US GAS and Power. The day-to-day job is highly quantitative, and technology driven.
There will be a strong focus on quantitative research/trading and with frequent interaction between quant traders, voice traders and IT strategists. The primary working landscape will be across execution optimization, ranging from microstructure signals to multi assets analysis.
The two proposed projects are as it follows:
- Investor project: Improve of trading spread roll for BNP Paribas’ Commodities QIS (Quantitative Investment Services) business. Tasks include:
- Price dynamics models;
- Internalisation risk management; Indices pressure analysis.
- Execution project: improvement of the execution layer for BNP Paribas’ client franchise in Cortex CD. Tasks include:
- Improve FV model by developing indicators;
- Develop optimisation algorithm for the liquidation of oil residual spread positions on illiquid maturities;
- Extend the behaviour from oil to US GAS and Agricultural products.
Requirements
- A minimum of a Master's or PhD in a quantitative subject such as Computer Science, Mathematics, Physics, Quantitative Finance or Engineering;
- Excellent Python programming skills is a must;
- Back-test systematic market making strategies;
- Perform simulation of execution strategies;
- Work on modelling cross assets relationships;
- Digest academic research on quant modelling topics;
- Excellent analytic and quantitative skills;
- Statistical modelling and data analysis;
- Optimisation knowledge is a plus;
- Previous internship or work experience related to modelling/programming is a plus;
- Interest in financial markets, economics and quantitative finance;
- Delivery driven mind-set;
- Strong interpersonal skills and proactive approach to problem solving;
- Ability to work under pressure and multi-task;
- Strong organizational skills;
- Team Player.
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.
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).
PLEASE NOTE
• You may only apply to four Long Term Internships over the course of a year. These may be across any business area.
• Successful candidates for this long term internship will be considered for London ONLY.
• Please discuss the available start dates with your interviewers.
Unsuccessful candidates’ CVs will be shared with other teams within BNP Paribas and considered for potentially suitable roles. In this way we hope to maximise opportunities for candidates and hiring teams. By submitting your CV for this role you agree to it being shared securely with other hiring teams within BNP Paribas for the relevant recruitment round.
Location:
London
Duration:
11 months
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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