Director – Product Manager Local and Global Custody
About BNP Paribas:
BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 72 countries, with more than 202,600 employees, of which almost 155,000 in Europe. The 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, corporates 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 European 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.
The overriding purpose of the role is to develop BNP Paribas’s Securities
Custody business in the United States of Americas working in tandem with the
Americas Head of FI&C Client Line, Custody Operations, Client Development
team (Sales and RM), Central Product Teams based in Paris. This will entail:
- Developing and maintaining product solutions, anticipate and address the US market’s needs on an ongoing basis, to create the market-leading solution for our target market segments;
- writing business cases, and product approval documents for any new developments
- sponsoring new product implementation projects (executed by IT and Operations) in tandem with Program Management
- Developing and maintaining pricing models, pricing guidelines, setting pricing strategy; reviewing and approving financial proposals;
- Managing and monitoring unit costs and product profitability
- Product training and support for the sales and relationship management teams,
- Monitoring service delivery to maintain/enhance client satisfaction levels and to preserve/enhance BNP Paribas’s market reputation.
Product development and maintenance:
- Develop solutions for new service requirements;
- Proactively identify product development opportunities, building business cases and sponsoring
- Maintain the product road map; planning and agreeing developments with IT suppliers and operations;
- Assessing and planning for the new requirements from existing clients in conjunction with head of products
- Maintaining data on client segments and the competition;
- Industry watch: sourcing, compiling and interpreting information on pertinent developments within industry bodies and services (e.g. the regulators, market depositories/clearers, central banks, consultants) in conjunction with Client Segment.
- Creating Market Updates to keep our clients updated with the market evolution.
- Participating to conference’s panels to
discuss the product evolution and development
- Training and support for the sales and relationship management teams
- Replying to RFPs received from clients
- Direct involvement in certain aspects of
the sales process as an expert & for ad hoc solution design
Product P&L Management
- Managing the revenue and cost lines month on month – forecasting impact of sales plan
- Operational cost analysis – monitoring and challenging the cost drivers;
- Setting cost income ratio targets;
- Setting price and prices guideline.
- Service delivery monitoring through the use of KPIs prepared by operations, regular meetings with relationship and operations;
- Obtaining feedback from existing clients,
prospects or ex clients directly where appropriate;
- New business proposals: approving clients, price, terms, service specification; developing proposals with Coverage for larger/complex deals;
- New business contract negotiations – depending on the complexity this can be limited to determining the bank’s position on sticking points (in conjunction with Legal);
- Providing product/business expertise in
the sales process as required.
Minimum Required Qualifications
It is important that the individual is knowledgeable and credible in front of clients, consultants and internal stakeholders.
- 10-15 years experience in the securities services industry especially in custody of the US market; sound knowledge of the evolution of the custody business and the impact of digital on this activity
- Ability to assess business/new product opportunities and to develop and present business cases where appropriate.
- Client focus
- Result driven
Well connected to the custodians network and industry
Ability to talk in public and in the medias
- Series 7-63
FINRA Registrations Required:
- Series 7-63 not mandatory
BNP Paribas is committed to providing a work environment that fosters diversity, inclusion, and equal employment opportunity without regard to race, color, gender, age, creed, sex, religion, national origin, disability (physical or mental), marital status, citizenship, ancestry, sexual orientation, gender identity and gender expression, or any other legally protected status.