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
ALM Treasury is a Transversal Activity within BNP Paribas Group. ALM Treasury has three operational responsibilities and two prudential mandates. The three operational responsibilities are the management of the Group's liquidity position, the management of the interest rate risk in the banking book (IRRBB) and the management of the foreign exchange risks. The prudential mandates refer to the liquidity risks linked to the Group’s profile and geographical presence, for which ALM Treasury exercises a responsibility similar to a Group function. ALM Treasury’s mandates consist in assessing the liquidity risks of the Group and protecting the Group’s signature.
Job purpose
The Treasurer & Bond Portfolio Manager, Vice President, supports ALMT in its GBP Bond Portfolio Management mandate by contributing to the strategy, execution and risk management of the HQLA liquidity buffer (“investment portfolio”) located within the banking book of London Branch.
As part of the treasury team, the role also contributes with the management of the liquidity position in the London Branch banking books along with its associated liquidity, interest rate and foreign exchange risks.
Key responsibilities
An advanced level professional exercising considerable creativity, foresight, and judgment in conceiving, planning, and delivering initiatives within ALMT. As required without exception for all front office staff, a sound and prudent approach to risk management and exemplary conduct behaviour.
Responsible for:
GBP Bond Portfolio Management (BPM):
• Oversight and optimization of the GBP HQLA position of the London Branch by proposing and refining portfolio investment strategies, contributing to the development and management of the portfolio structure/mix, and addressing market and liquidity risks.
• Maintaining at all times a forward-looking and dynamic (i.e. evolving) view of both macro and of products within the BPM investment scope.
• Initiating discussions about opportunities and risks, and monitoring activities and exposures with the objective of maximizing profitability within the portfolio's objectives and the constraints of BNP Paribas' risk tolerance.
• Maintaining a prudent risk management environment and ensuring proper trade documentation is complete, demonstrating conformity with the investment strategy, performance expectations, and evaluation of inherent market, credit, and interest rate risks. All investment analytics must be prepared independently of the selling counterparty.
• Market risks and value creation (liquidity, interest rate, foreign exchange, credit): generation of market optimization strategies by maintaining constant interaction with market participants (internally and externally) and facilitating their execution (from all relevant aspects such as regulatory, accounting, etc).
• Liquidity Management: Managing and optimizing the liquidity position of the main currencies impacting the London Branch and their relevant reserves account, within ALCO guidelines, ensuring an appropriate liquidity position at all times and proper access to Central Bank facilities.
• Risk, P&L and Budget: Participating in the budget process and closely following and explaining its achievement throughout the year. Assisting with the review and request of risk limits.
• Regulation & Regulatory Reporting: Actively managing operational risk, including the implementation and maintenance of appropriate business-specific policies, procedures, internal controls, and monitoring tools that align with the Operational Risk Management Policy.
• Data Analysis and Operational Efficiency: Retrieving and analysing data from multiple sources (market and liquidity risks, limits, balance sheet, etc.) and conveying important messages simply and efficiently.
• Driving innovation by bringing market insights, leading market knowledge, and best practices to ALMT. Assisting in defining and enforcing business procedures and policies.
• Managing medium-sized projects or acting as a key resource in large-scale projects, maintaining appropriate reporting levels, and contributing to relationships with key stakeholders.
• Training and mentoring other team members within the scope of their activity, ensuring adequate cover during times of leave, and providing proactive support/backup for all other operations when required.
Requirements
Professional qualification and expert knowledge of the matters listed below and how these matters fit within the broader organisation as well as more deeply within ALM Treasury:
• Extensive knowledge of Sterling Markets, particularly of Gilts and Interest Rates
• Ability to create, maintain, and refine forward-looking investment strategy for a fixed-income bond portfolio
• Strong understanding of G10 rates and related macro-economic drivers of those markets
• Strong track record of managing a bond portfolio or portfolio or rate-based products
• In depth product knowledge and mechanics of highly-liquid GBP interest rate and spread products (e.g. Gilts, Linkers, SSAs, rate futures, interest rate swaps, FX swaps, secured funding trades, etc.)
• Solid knowledge of key UK and Global regulations impacting funding and liquidity risk management (LCR, NSFR, French Banking Law, Volcker Rule, etc)
• Excellent analytical skills with the ability to translate technical concepts and provide specialist guidance and advice to others. Capacity to treat large amount of data as part of daily activities
• Strong relationship management skills and an ability to work with individuals to ensure the delivery of set objectives. Experience in providing effective feedback and developing others through support and encouragement.
• Proven commercial and communication skills.
• Good computer and coding literacy
• Good understanding of business risk and displays great diligence to their activities within the business
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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