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
This role is within RISK Markets and Financial Institutions (RISK MFI) – Analysis & Decisions (A&D) – Market & Liquidity Risk (MLR) team. This team is covering the market risks generated by Global Markets (GM) activities covering the main asset classes: equities, rates, credit, FX and commodities.
Main responsibilities of MLR team are:
Centre of expertise and point of contact for the business line, able to provide a holistic view of risks and activities, escalating issues as appropriate. Understanding the application of processes under the responsibility of other RISK MFI teams to the business line.
- Risk anticipation and detection
Anticipation, detection, monitoring, analysis, and opinion on all market and issuer risks:
- Early identification and in-depth review of hidden risks and potential threats, concluding with a clear view and recommendation for risk mitigating actions.
- Escalation to RISK and business management.
Design and continuous improvement of the market risk control framework including risk analysis tools, limits and stress testing. Holistic vision on valuation and capital metrics, escalating issues or concerns in these areas.
Job purpose
The role is to assist senior team members in the day-to-day business activities and contribute to a variety of tasks allowing a general introduction to the business of RISK MFI and Global Markets. The role will focus on one or more asset classes among equities, rates, credit, FX and commodities.
Specific processes managed by the team:
Business line leadership
- Point of contact for Global Markets (GM) on one or more asset classes market risk topics.
- Articulation of main risks and risk opinion to management.
- Review of and opinion on information and views provided by GM.
- Understanding valuation, capital, funding, and liquidity impact of business line.
- Provide support as business-line expert to other RISK teams.
- Understand business-line valuation models and methodologies and escalate weaknesses and concerns.
- Understand market risk capital framework and escalate weaknesses and concerns.
- Market risk analysis of structured/complex transactions.
Risk anticipation and detection
- Understanding the valuation, risk and P&L of business line activities in the context of current, past and potential market conditions.
- Chairing of Main Positions meetings and other forums with Trading, providing independent risk analysis and opinion, escalation of risk topics, and challenge to the business view.
- Providing accurate and appropriate risk information and opinion to the FMRC (senior risk management) and other senior management forums. Escalating risk topics to senior management as needed.
- Performing in-depth, ad hoc analysis, formulating an opinion and escalating as needed, while judging priority, on all market risk topics affecting the business line.
Risk control framework
- Analysing risk within the business line with the tools available, driving the improvement of these tools, and ensuring that risks for which tools or data are inadequate are nevertheless adequately understood.
- Setting and ensuring timely review of market risk limits in line with framework.
- Provide support of IPV methodologies and control of non-tradable/exotic market parameters.
- Review and approval of the market risk of exceptional transactions.
- Approval of amendments to trading mandates for French Banking Law/Volcker Rule desks.
- Definition of risk measurement methods such as stress tests, regulatory measures, and VaR methodologies.
- Contribute to French Banking Law/Volcker Rule control plans.
Key responsibilities
- Support senior team members with day-to-day activities as described in Job Purpose.
Requirements
- Degree from a leading university with an excellent academic record; or equivalent work experience.
- Good understanding of financial markets.
- Good knowledge of options principles (trading, risk management) and derivatives markets (products and markets).
- Curious and eager to learn.
- Confident verbal, written communication and networking skills.
- Excellent spoken and written English. Additional languages are an advantage.
- Proficient with MS Office tools, including Excel. Python/R/VBA preferred.
- Great organisational, multitasking and time management skills.
- Team player, proactive, independent, enthusiastic self-starter with strong interpersonal skills.
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).
PLEASE NOTE
* You may only apply to four Long Term Internships over the course of a year. These may be across any business area.
* Successful candidates for this long term internship will be considered for London ONLY.
* Please discuss the available start dates with your interviewers.
Unsuccessful candidates’ CVs will be shared with other teams within BNP Paribas and considered for potentially suitable roles. In this way we hope to maximise opportunities for candidates and hiring teams. By submitting your CV for this role you agree to it being shared securely with other hiring teams within BNP Paribas for the relevant recruitment round.
Location: London
Duration: 11 months
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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