Corporate Coverage Chile – Investment Banker

About BNP Paribas:

BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 68 countries and territories, with more than 193,000 employees, including more than 147,000 in Europe. The BNP Paribas Group has key positions in its three main activities: Domestic Markets and 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. The Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporate and institutional clients) to realize their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP Paribas Personal Finance is the leader in consumer lending. BNP Paribas is rolling out its integrated retail-banking model in Mediterranean countries, in Turkey, in Eastern Europe and a large network in the western part of the United States. In its Corporate & Institutional Banking and International Financial Services activities, BNP Paribas also enjoys top positions in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific.

Business Overview:

The Latin America region is a key market for BNP Paribas. While Brazil remains the largest economy in Latin America, other major countries in the region are significant contributors for the business and for long standing relations with clients. 

CIB in Hispanic Latin America has world-class teams of roughly 400, thus ensuring an overall coverage of BNP Paribas’ client franchise in the region. All BNP Paribas’ business lines have operations in Hispanic Latin America and are structured in such a way as to provide their clients with the best combination of specialists according to sector, product or geographic region. In the context of growing globalization, they are able to accommodate their clients thanks to their powerful regional platforms:

• In New York (and Sao Paulo with a number of professionals covering Latin America). 
• In the whole of Europe with major hubs such as Paris, London, Frankfurt, Madrid, etc.
• In Asia with broad coverage of all major economies in the region.

The BNP Paribas Group has had a long-term presence in Chile and Peru. Today, CIB covers a wide range of regional and international clients including large companies and institutional investors, as well as financial institutions.

Job Purpose

: 

The Investment Banker in Chile is responsible for developing and executing the commercial strategy with corporate clients in Chile and is often known as a Senior Relationship Manager. The role involves originating deals, executing transactions and maintaining strong and durable relationships with clients to be able to provide them with the full fledge of capabilities a global bank such as BNP Paribas has to offer.

Duties and Responsibilities

The Investment Banker (IB) will report directly to the Head of Corporate Coverage Chile & Peru and will be responsible, among other duties, for the following:

9. Client management: 

   1. Strategic clients: manage the client relationships with the support of a Corporate Banker (CB). IB will maintain relationships at the Shareholders/Board of Directors and CEO/CFO levels, while the CB should maintain relationships at the CFO/Treasurer and, when applicable, trader / financial analyst levels. 
   2. Other clients: manage the global client relationship (Shareholders, Board of Directors, CEO, CFO…). 

10. Business origination:

    1. Investment Banking: originate Investment Banking transactions in Chile (including but not limited to structured finance products, debt capital markets issuances and financial advisory and M&A). 
    2. Corporate Banking: support the origination of Corporate Banking transactions in Chile, including but not limited to fixed income and commodities derivatives, short term facilities, working capital solutions, contingent credit facilities, syndicated loan participations, cash management solutions and global custody products. 

11. Credit management and administration: 

    1. Credit management: monitor the credit process, coordinating with credit analysts and Head of Credit Management to have a seamless credit/risk process (including but not limited to the submission of new credit files, event driven reviews and annual reviews). 
    2. Other business processes: oversee the negotiation of legal documentation (term loan facilities, ISDAs, etc.) and execute business-as-usual tasks related to compliance, Corporate Social Responsibility (“CSR”) and Know Your Costumer (“KYC”) in due time and manner. 

To execute the tasks described above, the IB, in some cases with the support of the CB and the Marketing Associate (MA), shall perform a thorough analysis of its portfolio of clients (local and international companies with annual revenues of over USD 500 million) and promote a trust-worthy relationship to distribute BNPP products to the client’s satisfaction. 

The IB will be responsible for designing and developing an account strategy with each of its clients to achieve the business plan and budget (in terms of both revenues and profitability) that is set out in agreement with its management for her / his client portfolio as well as for prospects under his /her coverage. 

The IB will also maintain close contact with BNP Paribas’ business lines based in New York, Europe and in the LatAm region. The candidate shall be a Chile knowledge subject matter expert and be able to provide local economic and political context both to clients but also internally to métiers located in other countries. By leveraging in his/her deep relationships and connections with clients and the financial industry in general, the candidate will ensure the relevant teams get valuable and timely information on competitors’ activity in the country.

The IB will have to leverage on the industry bankers to achieve high levels of client service and will have to employ a “multi-métier” approach to maximize cross selling opportunities.

It will be paramount that the IB develops and maintains an accurate knowledge of each product through (i) proactive interactions with the product specialists, (ii) constant research and learning and (iii) BNPP’s internal training programs. 

The IB must comply with all applicable regulations (local or those defined by Group) and BNPP internal policies, this includes but is not limited to Financial Security, Know Your Client/Costumer/Supplier, Due Diligence, Client Interest Protection, Market Integrity, Professional Ethics and Respect for colleagues.

Strict compliance with the BNP Paribas Code of Conduct is enforced: Display exemplary behavior aligned with the Mission, Values and Rules of Conduct covering all 7 angles: customers’ interests, financial security, market integrity, professional ethics, respect for colleagues, group protection and involvement with society.

Qualifications

We would expect the candidates to fulfill at least the following requirements: 

• Excellent communication skills with fluency in both written and spoken English as a working language
• Exhaustive knowledge of the local financial market
• Broad-based knowledge and experience in the CIB industry, ideally with a proven track record of building and developing client relationships in the local corporate space 
• Working experience of no less than 10 years and 7 years in the Chilean financial sector
• Strong commercial skills with proven ability to originate and win new business, drive and execute transactions and develop networks both internally and externally
• Existing relationship with at least some of our existing clients
• Solid understanding of CIB products and services such as: M&A, Project Finance, Export Finance, and Loan Capital Markets. Should also be proficient at financial products such as derivatives, long term financing solutions (syndicated loans, asset backed finance…) and trade solutions (stand-by letter of credit, export loans). Previous experience selling one of these products is a plus
• Strong partnership skills. Ability to pull in and collaborate with the various product groups.
• Proactivity and autonomy are paramount
• Probity 

Additionally, individuals with one or several of the following characteristics will be considered as stronger candidates: 

• Previous experience in an international institution or work experience in Europe or North America 
• Strong relationships with BNPP’s strategic clients
• Commercial or Civil Engineering degree from PUC, U de Chile, Adolfo Ibañez, Universidad de los Andes 
• Post graduate degree

Annex

BNPP’s Chile & Peru Corporate Coverage team is a team of 5 members and is part of Corporate Clients Group (CCG) which also includes the Chilean Advisory team. 

BNPP applies a double coverage (i.e. IB/CB) approach with its most important clients (“Strategic clients”). 

IB bankers in Chile cover their Strategic Clients base and their “Other” clients via the origination and support in the execution of IB and, when applicable, CB businesses. It will leverage on the support from the CB (when applicable) and the MA to ensure proper allocation of its time. 

Our business is mainly driven by the following product mix: 

4. Global Markets: BNPP is locally recognized for some areas of excellence (e.g. FX derivatives, commodities, deal contingent hedging) and can benefit from the exit or the weakening of traditionally strong competitors (e.g. HSBC). The model with IB bankers pushing at C-suite level for better entries and with dedicated CB bankers allow BNPP to seize those opportunities on a broad base of clients by ensuring a fluid and daily communication at the deputy-CFO, treasurer and trader (when applicable) level 
   • FX – in particular for strategic clients with a global footprint and large currency exposures: the CB bankers will concentrate their efforts in originating derivatives transaction and (i) constantly analyze the clients’ balance sheet structure to anticipate their FX risk management needs, in particular where BNPP has shown competitiveness (EUR, BRL, Asian currencies), (ii) anticipate exceptional needs linked to event-driven transactions (M&A, large investments), (iii) update the clients regularly (in coordination with Global Markets sales team) of our views and anticipations on FX moves and valuations, (iv) proactively market more structured trades (deal contingent hedging, options, etc.) 
   • Interest Rates – in particular for strategic clients with a broad and diversified funding structure (all Strategic Clients): the CB bankers will (i) constantly analyze the client´s balance sheet to anticipate potential funding / refinancing needs, (ii) push the Bank´s participation in large financings (Debt Capital Markets, Syndicated Loans) which provide a direct opportunities for Swaps and Cross Currency Swaps and (iii) anticipate potential M&A transactions and their associated needs for interest rate hedging, focusing on specific expertise (ex. Deal contingent swaps) 
   • Commodities: BNPP is locally perceived as a strong Commodity derivatives player, in particular energy and base metals and has a successful track record with corporate clients. The CB bankers will expand the client universe for Commodities Derivatives (i) by building a solid relationship with the Clients’ commodity traders (often a specific individual), (ii) by analyzing and monitoring the client´s commodity hedging needs and policies, (iii) by connecting the Global Markets sales team at the right level and right moment, and (v) by anticipating large trades 
   • Liquidity management: Anticipate the needs for structured products such as structured notes as alternatives to vanilla Cash Management 
   • Anticipate needs for appropriate authorization of lines and monitor the ISDA negotiations and implementations 

5. Trade & Treasury Services (“T&TS): Ensure a fluid and daily communication at the deputy-CFO, treasurer and trade manager (when applicable) levels in order to monitor and anticipate needs for:
   • Corporate deposits: BNPP and its strong credit rating are attractive deposit destinations for Chilean corporates and should be marketed systematically by the CB bankers on their entire client portfolio to grow significantly our volumes. IB and CB bankers will look to maximize the cash management from clients (especially those we finance), pushing for vanilla solutions (Term Deposits) as well as the opening and implementation of Cash Management Accounts (stickier). The CB bankers will use their relationships at the Treasurer and deputy CFO levels to market BNPP as a deposit bank; they will benefit from the IB bankers’ strong access at C-Suite level. 
   • Trade solutions: to be profitable in a very competitive rate environment, the CB banker will need to focus on value-added services where BNPP offers a differentiating service. The CB banker will (i) support and monitor the execution of existing programs (ii) identify new potential by understanding the working capital structure of the clients and strategically think about solutions to optimize cash flows (Letter of Credit confirmation, discount of trade receivables, inventory programs, trading programs, comprehensive trade solutions), (iii) offer products linked with the Client’s performance (SBLC, bid bonds such as mining performance bonds – decommissioning- that allow for better pricing as per the amounts needed)
   • Security Services: although Security Services’ solutions in the region are more fit for Institutional clients, some large Corporate clients tender global custody or liquidity management projects where our Security Services’ and/or Asset Management solutions could be competitive. The CB bankers will be responsible for anticipating these tenders and properly introduce the Asset Management and/or Security Services teams to those opportunities while the IB will utilize its C-suite influence to help win RfPs.

In Chile, each IB banker covers a total of 15-25 clients, including Strategic and Others, allocated following a strategic rationale and in agreement with the rest of the coverage team. The IB will normally cover half of the Strategic client pool (5-7) with the support of the CB. 

Portfolio allocation will not necessarily follow a sectorial approach. 

For context, the main sectors covered are the following:

1. Energy & Power: dynamic and key sector in Chile where BNPP holds specific expertise across several products (Project Finance, Advisory, Export Finance). Strong interest in developing cross-selling opportunities (trade solutions and Global Markets products). 
2. TMT: very dynamic sector globally, very capex intensive. BNPP holds outstanding credentials and deep knowledge of the sector with renowned sector specialists in the region
3. Materials: BNPP is a market leader in terms of sustainable finance and helping clients in the Materials sector through their transition efforts is a key driver. Very strong relationship with Pulp & Paper companies.
4. Mining: as we expect a positive cycle during the coming years. Strong potential for Structured Debt and CB products (with certain CSR challenges)
5. Retail: Chile hosts the two Latam retail giants but also several other companies with strong regional or local positions. 
6. Food & Consumer: dynamic sector in constant consolidation with large regional players with potential for T&TS products and Global Markets, also advisory 
7. General Industrials: BNPP has a specific credibility on this sector which can be leveraged and replicated on other clients