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 RISK Corporate Securitisation (“RCS”) team, part of RISK Securitisation, within RISK Corporates is a transversal team responsible for:
- Analysis of new activities and exceptional transactions that use securitisation structuring technology, primarily but not exclusively generated by the CIB Capital Markets business line.
- Upon accreditation, exercising Credit Delegation or Right of Concurrence for securitization activities and certain other SPV counterparties structured using securitisation methods.
- Representing RISK in Capital Markets underwriting activities and other relevant approval forums.
- Developing and maintaining relevant governance frameworks for risk management of Capital Markets activities in scope, including and CIB Portfolio Management and to represent RISK in the relevant approval committees.
Purpose:
- Contribute to RISK’s mission to act as an effective and independent 2nd LOD for the activities of various Business Lines that fall in scope.
- Undertake holistic risk analysis and present recommendations to decision making forums.
- Depending on the successful candidates experience, the hire can be at a VP level or AVP/Associate level.
Scope:
- EMEA and APAC activities of Securitisation Business (Securitised Products Group in EMEA, Asset Finance & Securitisation in APAC) and other Business Lines such as Balance Guaranteed Swap Trading within Primary & Credit Markets of Global Markets, and from time to time other Business Lines within CIB or wider group, when RCS is required to either consider credit approval or contribute towards the risk on-boarding decision process for exposures involving securitisation technology or securitised assets.
The Responsibilities
Within RCS, keeping with RISK’s role as 2LOD, the Securitization Risk Analyst is responsible assisting Senior Analysts, or in the case of Senior Securitisation Risk Analyst, for undertaking, and (where credit delegation is held, guaranteeing) independent review of the risk assessment presented by the Business Lines concerned with securitization activity within CIB; as well as, for applying where relevant, one’s subject matter expertise to facilitate the RCS team’s effective challenge as 2LOD, and liaising with other functions as necessary.
Specific responsibilities of a Senior Securitisation Risk Analyst are described below:
- Undertake holistic assessment of Credit Requests presented by Business Lines in scope: e.g., a.o., regulatory capital compliance, strategy, rationale, risks including a.o., market, credit, economic, funding, liquidity, operational, reputational, ESG/CSR, jurisdictional, structural risks, stress testing, regulatory capital compliance, profitability, internal rating (IR) and global recovery rate (GRR).
- Such reviews are to be undertaken at inception of a file, then at least annually until full repayment, as well as other ad hoc reviews as may be needed from time to time. Such reviews can also be for new products, activities and envelopes.
- Participate in client Due Diligence visits (seller/servicer/originator).
- Products covered typically fall under ‘financing/funding’ transactions or hedging products commonly seen in securitisation activities, and transacted with limited or no recourse to the clients we service. These include, a.o.,: Warehouse facilities, portfolio purchase facilities, liquidity facilities, term investment commitments, interest rate and cross currency swaps.
- The Senior Securitisation Analyst (“Analyst”), upon agreed accreditation in due course, will be required to perform the role of Securitisation Credit Committee RISK Delegation Holder (Right of Concurrence or credit committee chair), and exercise delegation (where granted) with strict adherence to applicable policies and procedures of the bank. Furthermore, the analyst will also be required to perform the role of analyst on files assigned to him/her by his manager. In such cases the Analyst will not act as a delegation holder. Where RCS acts as a contributor to credit committees organised by other RISK Streams, or to the Transaction Approval Committees/New Activity Committees and Fixed Income Commitment Committees processes, the Analyst will need to present RISK Opinions and relevant recommendations to such forums, ensuring appropriate level of concurrence from line manager or RCS Delegation holder, where relevant.
- Perform all necessary RCS credit approval process related functions: i.e. prepare agenda and minutes of credit committees, ensure committee approved regulatory capital parameters and limits are recorded timely in appropriate systems, and disseminate decisions timely.
- Undertake timely and effective escalation to management, adverse risk evolutions at transaction or portfolio level, and other relevant matters concerning compliance with the policies and procedures of the bank.
- Contribute to periodic monitoring processes, including Watch List & Doubtful Debt committees, portfolio monitoring and reviews, and other ad-hoc monitoring that may be implemented from time to time.
- Interact and liaise with other functions and apply subject matter expertise in order to facilitate better appreciation of transaction proposals, in order to ensure there is effective 2nd Line challenge to the Business, and achieve requisite protections for the bank, and also streamline Q&A process related to Term Sheets/documentation.
- Contribute to other BAU and Governance related processes and projects: e.g., internal and external audits, policy and procedure updates, risk forums, team meetings, ad hoc projects.
- Maintain and develop professional relationships with the Business Lines in scope, as well as key stakeholders and contributors across Functions.
- Undertake ad hoc management responsibilities as may be delegated from time to time, including coaching and training junior team members.
General Responsibilities include active contributions:
- To the application, adaptation and continuing improvement of the credit decision processes and policies and procedures framework.
- To RISK Corporate permanent control framework and to Corporate Clients continuum initiatives
- To data quality and to the monitoring of operational risk :
- improving data quality via ensuring the accuracy of key risk parameters (counterparty ratings, GRRs, use of the relevant policies) in minutes & other relevant/applicable systems, and by prompting Business to follow on corrective actions
- communicating to RISK ORC CIB any operational risk she/he becomes aware of (potential fraud, breach of security package,…)
- To the continued enhancement of RISK Corporate monitoring and anticipation capabilities i.e.:
- detect potential threats on the portfolio that falls under his/her responsibility (sectorial/product/country levels, concentrations,…)
- contribute to produce dedicated portfolio reviews on Securitization perimeter when requested
- contribute to monitoring exposures framework (e.g. any periodic securitization risk reports, …)
- contribute to Risk Policy Committees/Strategic Risk Reviews
Stakeholders (with which direct interaction can be expected as part of the role):
- CIB (Capital Markets, Global Markets, Primary & Credit Markets, BNP Paribas Security Services, Global Markets Strategic Oversight Office)
- Functions: RISK, Legal, Compliance, IT & Operations, TAX, Finance, Inspection Generale, Value Preservation Group, as well as RISK SRT Securitisation.
Skills & Experience Required
Technical experience and skills for VP level hire (Level: Proficient to expert):
- Strong credit risk background and counterparty risk assessment knowledge.
- Experience to have gained from structured finance, securitisations and or financial institutions/corporate credit; with experience gained from large international banks or reputable Rating Agencies; covering EMEA and APAC.
- Managing end-to-end risk assessment and or transaction review process, including negotiating with the stake holders, presenting recommendations to decision committees.
- Exercising credit committee delegation as a committee chairperson or Right of Concurrence holder.
- Running multiple live transactions simultaneously, and if need be through effective delegation and guidance of tasks to junior analysts.
- Review of transaction term sheets; financial covenants, loan documentation, corporate balance sheets and financial statements.
- Experience in undertaking client Due Diligence visits, and producing DD reports.
Product experience for VP level hire (Level Proficient or better)
- Pre-securitisation warehouse financing and associated hedging products.
- Portfolio acquisition financing, as well as financing facilities for ongoing originations.
- Backstop liquidity facilities for securitisation exposures financed via ABCP vehicles or other structures.
- Asset Classes: Wide range of assets that can be securitised (mortgages, consumer credit, auto, trade receivables) and assets which incorporate securitisation techniques in the structure (e.g. NPL & REO portfolios).
Behavioural for all level hires (Level: Proficient or better):
- Ability to work effectively in a team environment
- Working under high pressure and to tight deadlines; prioritisation skills.
- Strong negotiation skills.
- Good interpersonal and relationship building skills at multi stakeholder level
- Focus on client/commercial/risk sensitivities and risk reward balance.
- Critical thinking and sound judgement.
- High degree of ethical standards
- Self-starter; high levels of initiative and ownership; with an innovative spirit and technological-solutions based mind-set.
Preferred
- Knowledge of relevant regulatory capital regime.
- Familiarity with Rating Agency criteria and methodology for rating securitisation transactions in a broad range of asset classes.
- Familiarity interrogating Stress Testing models.
- Coaching junior staff members.
- Derivatives experience: Interest Rate Swaps, Cross Currency Swaps, Caps; Securitisation derivatives (including balance guaranteed swaps).
Equal Opportunities
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.
