Senior Agency Lending Trader
BNP Paribas Securities Services is a multi-asset servicing specialist with local expertise in 36 markets around the world and a global reach covering 90+ markets. This extensive network enables us to provide our institutional investor clients with the connectivity and local knowledge they need to navigate change in a fast-moving world.
As of 31 December 2018, BNP Paribas Securities Services had USD 10.660 trillion in assets under custody, USD 2.662 trillion in assets under administration, 10,545 funds administered and 11,932 employees.
The MFS agency securities lending trading team (AGL) lends securities to a range of approved borrowers as authorised by the underlying custody or non-custody client of BNP Paribas Securities Services (BP2S) Revenues generated are shared with the underlying client. The Agency Lending team acts as an agent for a variety of clients (sovereign wealth funds, asset managers, and other asset owners such as insurance companies and financial institutions) The main function is to lend securities for either cash collateral or securities as an agent for both custody clients and non-custody clients.
The purpose of the role for the senior agency lending trader is to maximize the revenue from lending available supply while developing and maintain relationships with external borrower clients. The role also requires support and liaison with all internal stakeholders and departments to ensure that the lending product achieves maximum revenue within an efficient and compliant framework. Outside of daily business activities, the role focuses on developing new business, product development, and relationship management.
Key Responsibilities of the role:
• Generate revenue through the lending of assets versus approved collateral types
o Negotiate and agree fee rates for securities lending loans
o Monitor fund holdings to maximise lending opportunities.
• Research and development of the Agency Lending product; current trading levels, new markets, market trends, market demand and automation
• In-depth understanding of money and repurchase (repo) markets, and interest rate environments.
• Knowledge of portfolio management techniques in respect of cash collateral
• Maintain and develop strong working relationship with counterparts and also underlying clients.
• Mentor and develop trading staff on the agency lending desk.
• Experience utilising automated processes such as industry vendors to facilitate loan execution
• Analyse BP2S AGL performance versus the market in respect of basis point return and highlight potential areas for improvement
• Provide revenue estimates for potential new clients
• Ensures risks are properly managed, monitored, and minimised
• Possess an in-depth understanding of the regulatory environment
• Proven track record of implementing efficient processes in the daily flow of activity
• Support the management of Agency Securities Lending client relationships and maximising returns on client portfolios on a risk adjusted basis
• Develop understanding of clients’ business, objectives, goals and market challenges, and liaises with the group’s relationship management teams to ensure consistency with the overall client development plan
• Promote the business at industry conferences while supporting the business development and relationship management initiatives
• Provide relevant market commentary and product expertise for business development opportunities
• Provide input on implementing product enhancements
• Follow relevant regulations and determine the implications to the product and the Bank, and make appropriate recommendations for product developments
Skills and Experience required
• Experience in a similar role in the securities lending field is essential
• Demonstrable experience of speaking with & interacting with clients is imperative
• be able to communicative effectively and to have the ability to develop excellent working relationships internally and externally
• Proven ability to learn quickly on the job and work in a busy, evolving environment.
• The ability to perform well under pressure, multitask and meet time-sensitive deadlines
• Understanding of nuances associated with securities finance markets
• Advanced proficiency with industry standard tools, e.g., Bloomberg, Excel and PowerPoint a must.
• A knowledge of database/data management is a strong preference
• Ability to implement automated solutions to daily processes
• A strong performer, proactive and a self-starter
• Strong organisation skills and excellent attention to detail
• The ability to work well in a team and also have the ability to think and analyse situations independently (while managing up to superiors in times of needed assistance and collaboration)
Qualifications required for the role:
• CISI required examination
• IMC or CFA
BNP Paribas promotes equality of opportunity and is 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.