BNP Paribas is the European Union’s leading bank and a key player in international banking. We operate in 65 countries and employ 190,000 people, including nearly 145,000 in Europe. Our Group holds key positions in its three main fields of activity: Commercial, Personal Banking & Services; Investment & Protection Services; and Corporate & Institutional Banking (CIB) for corporate and institutional clients.
Our Securities Services business, which forms part of CIB, is a leading global custodian providing specialist post-trade and asset servicing solutions to buy and sell-side market participants, corporates and issuers. Based in 35 locations around the world, our award-winning Securities Services teams have built one of the most extensive custody network in the industry, giving clients the connectivity and local knowledge they need to navigate change in a fast-changing world.
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
Securities Services is a leading global custodian and securities services specialist that provides multi-asset post-trade and asset servicing solutions for buy and sell-side market participants, corporates and issuers.
The MFS department within Securities Services business line acts as a central actor in the provision of financing and liquidity solutions for the Securities Services client base. We notably offer:
- Securities Lending and Repo services: Agency Lending and Financing & Collateral Services (ex-principal lending) for asset classes of government debt, corporate bonds, equities, and ETFs. Financing & Collateral Services also includes a fail coverage programme for local custody clients.
- FX and Passive Currency Overlay (PCO) services are key products in our offer. Including automated netting services, on demand FX execution services, passive currency overlay services including the identification of currency risk, the calculation of FX exposures and hedging adjustments, the execution of transactions and monitoring cash flows.
- Financing Solutions: solutions that maximize the use of securities while maintaining access and movement to cover trading obligations. Clients benefit from global credit facilities to cover funding needs including failed settlements and on-exchange margin calls. Solutions include FoHF Financing, Committed Overdraft and Assets Based in Custody (ABC) Financing – incorporating UK Investment Trusts.
- Triparty Collateral Management: supporting a range of market activities including securities lending, repo, financing, and derivatives.
Job purpose
Agency Lending offers institutional investors the opportunity to generate returns through the provision of a guaranteed return on their investment portfolio. We provide securities lending services to our clients, which is considered as a value-added product to accompany global custody, fund administration and middle office outsourcing.
The Trader acting at Vice President level will be responsible for the day to day Agency Lending activity, trading with counterparties to maximise revenues in line with regulatory requirements and BNPP policies.
They will act in a senior capacity in the absence of the Trading Desk Head and ensure all key procedures and processes are carried out by the trading team.
The role covers not only the AGL EMEA, but includes collaborating with trading desks in Hong Kong, New York and Sydney
Key responsibilities
The purpose of the role is primarily to trade securities lending with a high level of customer service and to maximise profit within the business and regulatory framework.
Key Responsibilities of the role:
- Manage the day to day business of Agency lending
- Delegate key tasks to team members, ensuring they are completed
- Point of escalation for sensitive topics in order to resolve in a timely manner
- Negotiate and agree fee rates for securities lending trades within business
- Act on direction from desk head and implement trading strategies to meet client needs
- Covering short position request from borrowers
- Adept at managing and building borrower relationships
- Identify and agree trade structures and collateral swaps
- Book management to ensure we are in line or outperform the market
- Effective co-ordination with global teams Hong Kong, Sydney, London and New York desks
- Ownership of claims in need of payment to reduce costs incurred by BNP
- Ensure procedures are up to date, well maintained and improved where possible while enhancing control functions
- Assist Operations, Corporate Actions, Dividends and Billing with relevant information to facilitate their daily tasks
- Ensure AGL adhere to credit lines, VaR, BEST, NC+, PFE and client limits. Running simulations where needed prior to trading
- Provide training to new / less experienced team members where needed
- Strong grasp of regulation and trading strategies required to adhere to these
- Ownership of revenue estimates for potential and existing clients
- Knowledge of Revenue metrics and performance to forecast and budgets
- Propose solutions to streamline existing processes and improve efficiency across the product
- Assist with KYC requirements as requested
Requirements
Competencies required for the role:
Essential
- Strong trading experience and understanding of Securities lending front to back operational flows
- Strong technical skills
- Excellent verbal and written communication skills
- Ability to work under pressure and to strict deadlines
- Attention to detail and accuracy
- Computer literate with sound working knowledge of all Microsoft Office programmes
- Ability to work both alone and in a team
- Knowledge of regulatory framework from a macro perspective and directly impacting BNP and our clients, with an ability to mitigate potential risks faced
- Competent Microsoft Office and VBA skills
- Able to delegate and communicate across internal teams
- Familiar with Bloomberg
- Previous securities lending experience
Desirable
- Coding experience: Python and Microsoft BI
- Second language
Qualifications required for the role:
Essential::
- CISI Regulatory and Securities Exams
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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