Risk Global Markets - Market and Counterparty Risks Trainee - Lisbon
BNP Paribas is a leading European bank with an international reach. It has a presence in 72 countries, with more than 202,000 Employees – including more than 154,000 in Europe and over 5,000 in Portugal alone.
BNP Paribas is present in Portugal since 1985, having been one of the first foreign banks to operate in the country. Today, BNP Paribas has several entities operating directly in this territory, offering a wide range of integrated financial solutions to support its clients and their businesses.
Worldwide, 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, corporate and institutional clients) to
realise their projects through solutions spanning financing, investment,
savings and protection insurance.
RISK Global Markets – provides full transparency and dynamic analysis of the market, counterparty, valuation and liquidity risks managed by CIB Global Markets to BNP Paribas top management. Based on the Group’s risk appetite statement, RISK GM contributes to the definition of GM’s target risk profile, its risk decision-making process and the optimisation of capital allocation to support its development. It will monitor the actual risk profile of GM versus this target one, and assess how it may be impacted by new activities and upcoming evolutions.
More specifically, RISK GM proactively identify, analyse and review market and counterparty risk exposures on an ongoing basis; contribute to define or approve a risk measurement framework, in particular official market and counterparty risk measurement methodologies used to compute Value-at-Risk (VaR), counterparty exposures, regulatory capital, as well as to define limits and control exposure; assist and advise all levels of Management on risk-taking decisions; contribute to the valuation process and the valuation risk monitoring; define a consistent collateral framework across the covered perimeter.
We cover products in Equities, Commodities, Interest Rate, Foreign Exchange, Emerging Markets and Credit trading desks while also covering the dimensions of financing and counterparty risk hedging desks (i.e. XVA).
We are looking to
recruit individuals who are technically competent to embrace the depth of
products encountered in the capital markets today from a technical market risk
analysis perspective, who champion diversity with open mind-set, who are
receptive to change and comfortable to fit into a fast pace working
environment, who are motivated to learn and who are sufficiently self-driven to
achieve their goals.
WHAT THIS INTERNSHIP REPRESENTS FOR YOU
· A truly diversified role where you can interact and learn about the challenges faced by the Market, Counterparty and Financing risks experts.
· A chance to expend your network within BNP Paribas Europe and worldwide RISK GM experts from APAC to Americas.
· The opportunity to develop a detailed understanding of the Bank’s products and activities (Capital Markets, Financing activities, etc.), both from a conceptual and from a practical viewpoint.
· The opportunity to concretely apply academic principles related to option theory or data analysis & science.
ROLE AND RESPONSIBILITIES
· Automate and industrialise the various tools used by the market risk and counterparty risk analysts while keeping consistency in mind.
· With support from the relevant RISK GM analysts, propose enhancements of the limit framework nomenclature to drive further consistency.
· Take ownership of the third phase of the development of a Fair Value Reserve dashboard coded in Python.
· Participate to the second phase of the industrialisation of the sensitivity limit calibration into a Light IT platform.
· As first successes are delivered, participate to other projects on Fair Value Reserve calibration automation.
· Support and take ownership of the monitoring of some of trading book metrics for Europe notably:
o Basel 2.5 metrics as Var, sVar and IRC and their daily sign-off.
o Sensitivities contributing to the Prudent Valuation Adjustment and to the Reserve Framework.
o Stress Test
o Main sensitivities Controlled and Monitored by Market Risk
o French Banking Law and Volcker rule metrics
o FRTB metrics as Standard Approach, NMRF and P&L Attribution
o Generally, all P&L Explain related metrics.
Regularly provide updates to the Head of RISK GM Lisbon and to the project sponsors on project advancements.
· Master Degree in Engineering, Financial Engineering, Finance, Maths, Sciences, Economics, Econometrics (or related areas)
· English fluency
· Proficient written & oral communication
· Maths skills obtained through relevant studies (engineering mathematics level or higher – calculus, Taylor’s theorem – is essential)
· Knowledge of financial markets
· Motivation to proactively work as part of a team
· Curious and highly motivated to learn
· Problem solving and ability to offer different perspectives
· An interest in developing practical solutions to a data analysis problems by being proficient with R or Python;
· Some familiarity with financial products would be a definite advantage (bond pricing, definition of Greeks (Delta/Vega/Gamma), concepts of option pricing) and will be preferred;
· Exposure to banking regulation issues is a plus.
Please note that only
applications submitted in English will be considered.
In case you are selected for this role, further documentation will be requested to support your hiring process.
BNP Paribas 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, 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.