GROUP BNP PARIBAS
BNP Paribas Group is the top bank in the European Union and a major international banking establishment. It has close to 185,000 employees in 65 countries. In Spain we are more than 5,100 employees within 13 business lines.
Risk HUB
RISK is an integrated and independent control function of the BNP Paribas Group. It is the second line of defense on the risk management activities of the Group which are under its direct responsibilities, including credit and counterparty risk, market risk, funding and liquidity risk, interest rate and foreign exchange risks in the banking book, insurance risk, operational risk, and environmental and social risks.
RISK aims to be a partner of the businesses by contributing to their sustainable development, but also a gatekeeper to ensure risks taken remain compatible with the Group’s Risk Appetite and its strategy.
RISK Iberian Hub Madrid is a transversal platform servicing the RISK Function by covering added-value activities around credit risk, market risk, operational risk and data protection. Offering a wide range of services to RISK teams, from consulting to cyber security, going through data analysis, modelling or artificial intelligence.
ABOUT THE JOB
The role is to develop and implement methodologies, tools, and approaches to identify, quantify, and mitigate the impacts of climate-related physical risks, and nature risks, on the Group’s business operations and financial assets.
The goal is to enhance existing processes and frameworks and facilitate the embedding of physical climate risk, not to ‘carve-out’ activities related to physical climate risk. To meet this objective, the role requires close co-operation with teams within RISK, for example those working on scenario analysis and regulatory models, and outside of RISK, to support these teams with the required expertise whilst avoiding duplication of common elements.
Whilst the role is primarily Madrid based, the role covers all BNPP Group activities and functions and requires strong collaboration with the RISK ESG Team based in London and Paris. The RISK ESG Senior Quantitative Analyst will report to the RISK ESG Physical Climate Risk Modelling Lead in the UK with a local reporting line to the RISK ESG Team Leader in Madrid.
RESPONSIBILITIES
· Climate risk modelling
- Stay abreast of the latest scientific research, climate hazard models, and data sources to design methodologies and help promote the adoption of best practices internally.
- Identify, evaluate, adapt and on-board relevant public-domain or commercial climate hazard models as and when they become available, with emphasis on appropriateness for the Bank’s use-cases.
· Financial risk quantification
- Support the modelling and quantification of physical climate risks and nature risks in collaboration with other RISK teams, particularly those working on scenario analysis and regulatory models. Topics include propagation of physical risks to company financials, capturing portfolio diversification effects and adaptation & insurance measures.
- Perform general research activities around the financial quantification of physical risk.
- Devise vulnerability models (damage functions) having regard for regional, sectoral and asset specificities, with a view to assess physical risk both at asset and counterparty-level.
- Devise metrics and indicators (whether score-based or financial) that are suited to the assessment of physical risk at asset, counterparty, or portfolio-level - with attention given to the use case in scope (e.g. risk management, origination, engagement, etc.).
· Quantitative development
- Contribute to the maintenance and development of the library of climate hazard and vulnerability models available within the BNPP ecosystem.
- Assist in ensuring the framework is designed in a way that facilitates its use or integration within other areas of the Bank (e.g. stress-testing, back-testing).
· Operational insertion & support
- Participate in client engagement technical discussions with a view to continually enhance the internal modelling capability (for example, reflecting adaptation measures and other operational or financial mitigants); share best practises with peers.
- Provide advice and support in relation to operational insertion activities; collaborate with internal stakeholders, including financing teams, risk management, and sustainability departments, to integrate climate risk considerations into the decision-making processes.
- Contribute to the assessment and reporting of physical climate risks, with a view to identify potential vulnerabilities within the Bank’s portfolios.
- Contribute to the implementation of risk mitigation strategies (adaptation measures, insurance solutions, portfolio diversification strategies) to minimize the financial impact of physical climate risks.
REQUIREMENTS
Studies
- A strong academic background, with at minimum a degree in physics, mathematics, quantitative finance, climate science, environmental science or similar.
- A background in climate/environmental science and an advanced degree (at minimum Masters) is an advantage
- A practical knowledge of quantitative risk modelling is an advantage.
Experience
- The ideal candidate would have 5 or more years experience, working in industry or equivalent. Hand-on experience in quantitative financial risk modelling, physical climate risk, catastrophe modelling or climate or environmental research are all highly desirable.
Languages
- Strong communication skills, both written and verbal (English language).
- Ability to speak French is an advantage.
SKILLS
· Strong analytical skills and ability to interpret complex data and scientific research.
· Strong coding skills, e.g. in Python with knowledge of statically compiled languages (e.g. Rust, C#, C++) a distinct advantage.
· A strong interest and knowledge of risk management best practises, financial markets and economic developments.
As well as ability to:
- Work to tight deadlines.
- Work flexibly as part of multiple teams and autonomously.
- Grasp the intricacies of governance-related processes and procedures.
- Juggle changing priorities and a varied workload.
BENEFITS
• Training programs, career plans and internal mobility opportunities, national and international thanks to our presence in different countries.
• Diversity and Inclusion Committee that ensures an inclusive work environment. In recent years, several employee communities have been created to organize diversity and inclusion awareness actions (PRIDE, We Generations and MixCity).
• Corporate volunteering program (1 million Hours 2 Help) in which employees can dedicate time out of their working hours to volunteer activities.
• Flexible compensation plan.
• Hybrid telecommuting model (50%).
• 32 vacation days.
Diversity and inclusion commitment
BNP Paribas Group in Spain is an equal opportunity employer and proud to provide equal employment opportunity to all job seekers. We are actively committed to ensuring that no individual is discriminated against on the grounds of age, disability, gender reassignment, marriage or civil partnership status, pregnancy and maternity/paternity, race, religion or belief, sex or sexual orientation. Equity and diversity are at the core of our recruitment policy because we believe that they foster creativity and efficiency, which in turn increase performance and productivity. We strive to reflect the society we live in, while keeping with the image of our clients.
