Global Head of Hedge Fund Services

Job Title: Global Head of Hedge Fund Services

Business Unit: AI - Management

Contract Type: Permanent

Location: Sandyford, Dublin (Hybrid)

About BNP Paribas

At BNP Paribas, we center our values on what drives the company forward. Our driving forces are Agility, Client Satisfaction, Compliance Culture and Openness.

• Agility: we want to behave more simply to embrace useful innovation and digital transformation. 
• Client Satisfaction: we believe that our success lies in being the customers' and clients' preferred choice.
• Compliance Culture: we believe in promoting clear rules to foster a strong culture of compliance and ethics 
• Openness: we promote open-minded attitudes towards our stakeholders. We aim for everyone in Group to feel included, to have their say and be empowered

Role

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 Global Head of Hedge Fund Services has overall responsibility for the management of the respective Client Line and Client Delivery responsibilities within the perimeter of the role, and to ensure that the respective local/regional teams are organised to drive the strategy and value proposition for our clients with a view to generate sustainable and profitable growth and to deliver quality services to clients.

The specific purpose of the position is to organise and lead the following team structure:

• Go-To-Market Strategy which includes the articulation and promotion of the global strategy and value proposition for each regional Hedge Funds Services Client Line 
• Products & Solutions designing the business operating models and client experience and driving related development to maximise the P&L of products, adapting to client needs. 
• Product Management Framework, ensuring that product capabilities are fully aligned with Compliance, Risk and Conduct policies and develop standard product management practices 
• Client Digital Experience, designing a combination of solutions to deliver an end-to-end user experience that exceeds clients’ expectations 
• Strategic Client Integration, ensuring a consistent and efficient integration of new strategic business
• Client Delivery: provide a high-quality service to our clients in a secured operating environment. 
• Improve efficiency by leveraging on digitalisation and industrialisation of our business delivery model

The role has risk reporting and escalation responsibilities for the respective product sets, client solutions within the perimeter.

Key Responsibilities

• Lead strategic market and competitive analysis for Hedge Fund Services including risks identification & assessment: market trends & drivers, wallet size, regulatory evolutions, client critical business issues and competitive positioning
• Define value proposition for Hedge Fund Services answering current and future client’s critical business issues, differentiating Securities Services from competitors, enhancing client digital experience and identifying required product developments
• Define a go-to-market plan to fully capture strategic growth opportunities while considering and managing financial and non-financial risks, articulate the Hedge Fund Services financial ambition and steer progress versus defined objectives
• Maximise Hedge Fund Services P&L by driving profitable growth, ensuring competitive client pricing, monitoring costs & expenses closely with Client Delivery, mitigating risks, ensuring strategic investments are aligned with Hedge Fund Services strategy
• Provide clients with superior insight on Securities Services value proposition and client segment thought leadership with a primary focus on strategic clients and transformational opportunities
• Along the Hedge Fund Services strategy, define and maintain selectivity guidelines aiming to define the targeted business scope (clients & prospects / products), taking risk patterns into account and in line with Group, CIB and 2S risk policies.
• Manage portfolio of products under responsibility and drive related development with the objective to increase penetration across all Client Lines and maximise P&L while identifying, assessing and mitigating financial and non-financial risks
  1. Prioritize all Client Lines requirements and align product capabilities to regulation
  2. Identify required investments, develop a roadmap and ensure it is properly executed
  3. Ensure all risks pertaining to the portfolio of products under responsibility are properly assessed and mitigated
  4. Support the product development process (incl. TAC/NAC)
  5. Develop standard pricing policies
  6. Act as sponsor for relevant TAC/NAC activities
• Design and maintain business operating and client experience models in line with client needs, in coordination with Client Delivery and Client Development 
• Drive an overall client-centric approach, foster entrepreneurial spirit and collective behaviour
• Design and maintain the Global Target Operating Model for HFS Client Delivery. 
• Bridge Hedge Fund Services Client Delivery with other Securities Services activities.
• Deliver high-quality service and client experience
• Improve efficiency of the business delivery model and ensure its compliance with regulations, market infrastructure evolution and BNP Paribas internal control rules
• Minimise the operational risk and ensure the business continuity plans are available and tested. Ensure both financial and non-financial risks are closely managed and monitored
• Ensure the business delivery model is relevant for our clients’ actual and future needs and ensure a smooth implementation of new products and solutions
• Ensure the transversality of our business delivery model to facilitate end-to-end integrated services for the benefit of our clients
• Lead the digital transformation and pursue the 2S business delivery model industrialisation by notably continuing to leverage on the operational hubs
• Manage the business IT and its transformation plan to satisfy actual and future client needs in collaboration with the IT function 
• Monitor and optimise Operations and IT cost base

Key internal stakeholders:

• Global Securities Services and regional Executive Committee Members
• Client Line Management
• Client Development Management
• Client Delivery Management

Key external key stakeholders:

• Clients
• Consultants, Market Influencers
• Regulators, Auditors, Market authorities        

Qualifications & Experience required for this role

• Proven experience in a similar position servicing Alternative clients (including strategic planning, commercial influence and negotiation, P&L management)
• Excellent understanding of the securities services industry and its trends with deep knowledge of the Alternatives industry 
• Strong working knowledge and experience within risk management 
• Excellent networking skills, ability to co-ordinate internal and external stakeholders and negotiate solutions and client facing skills.
• Excellent decision-making skills
• Entrepreneurial Self Starter 
• Strong marketing and client centric focus
• Strong operations background with transformation skills with excellent understanding of technology, especially related to the Hedge Fund segment
• Coordination and organisational skills 
• Sound analytical skills 

Preferred

• Proven project management expertise, with strong transversal components (cross-business lines). 
• Extensive experience at a similar position in an organisation servicing Hedge Funds and Funds of Hedge Funds clients.
• Proven experience in defining and implementing cost optimization programs (e.g. offshoring strategy). 

Essential

• Operates as a strongly motivated change agent with strong influencing skills
• Demonstrates strategic vision with commercial expertise and mind-set
• Drives innovation: challenges status quo to drive game-changing organisational capabilities
• Promotes next generation profitability develops strategy and organisational capabilities driving future material profitability, anticipating clients’ needs
• Develops team as change agents leads, motivates and develops employees to drive long-term transformational change
• Inspires others with a thirst for excellence
• Demonstrates ethics and integrity, treats others with respect

Desirable

• Demonstrates and promotes cultural sensitivity
• Maintains agility by minimising complexity and finding time to simplify
• Displays openness and directness
• Understands business and associated technology, promoting digital solutions
• Listens well, to better understand
• Shares information openly and proactively

Why work with us?

• We are a bank for a changing world and aim to build positive change together with our employees. 
• We are a team of passionate people who genuinely care about what we do and the impact our work delivers to our clients. We operate in a highly collaborative, open-minded environment that embraces innovation and creativity. 
• Our remuneration and benefits packages are generous, with competitive salaries, a discretionary bonus scheme, company pension contribution, comprehensive private healthcare packages, and numerous other benefits.
• We have a genuine commitment to work-life balance throughout the whole organisation. We are also committed to equality, diversity and inclusion and actively promote equal opportunities. 
• Development and mobility is actively encouraged. We are a learning company - there is real opportunity to grow, develop and expand your skills, experience and career path. 
• We are a global company operating in over 60 countries with over 190,000 employees from over 150 nationalities. In Ireland we have approximately 500 employees across Dublin and Galway working in Corporate Institutional Banking (CIB) and BNP Paribas Security Services (BP2S) and Greenval.

Compliance Culture

We believe in promoting clear rules to foster a strong culture of compliance and ethics.  We would expect any incoming member of staff to respect all financial security related legislation, including: anti-money laundering (AML); countering the financing of terrorism (CFT); international financial sanctions and embargoes (IFS); anti-bribery and corruption (ABC); KYC; ongoing client related data screening; and transaction monitoring.  BNP Paribas have clear policies on these topics which all staff are expected to familiarise themselves with upon successful entry to the Group.

Equality and Diversity

BNP Paribas is an equal opportunities employer and proudly cultivates a diverse workforce. We believe that diversity of experience enhances our service offering to clients and leads to a better working environment. We encourage applcations from the best candidates regardless of age, ethnicity, gender, gender identity, nationality, disability, sexual orientation, socio-economic background, parental and caring status, or religious belief.

By submitting your application, you agree to BNP Paribas completing a background check and screening in advance of any potential offer being made