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Senior Analyst Collateral Management Operations

Apply REF: GBR000875

Bank Overview
BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 73 countries, with more than 196,000 employees, including around 149,000 in Europe. The Group has key positions in its three main activities: Domestic Markets, 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.
BNP Paribas Corporate and Institutional Banking is a globally recognised leader offering capital markets, securities services, financing, treasury and advisory solutions.

Business Area / Department Overview

  • The Collateral Management Group processes the Net Present Value of the portfolio of trades between BNP Paribas and its counterparties on a daily (or as specified) basis and ensure that this exposure is sufficiently collateralised. Currently the group handles approximately $50 Billion of collateral globally on behalf of the Bank and its counterparties and this figures 
  • The group interacts closely with Traders, Marketers, Legal, Credit and Operations. The collateralised portfolios consist of practically all products traded within BNPP Capital Markets, including OTC Fixed Income and Equity Derivatives, Swaps, Repos, FX, Credit Derivatives, FRA’s, CAPs, Swaptions Commodities and Exotics. The process requires comparison of exposures with the value of the assets pledged, in accordance with the parameters specified in the legal agreement. Changes in the portfolio PV (due to market price fluctuations, or new / matured trades) will generate changes in the required collateral balance. The collateral teams will call for or post additional collateral funds depending on the direction of movement of the PV of the trade portfolio relative to collateral pledged. This daily margin call process ensures that at all times, the Bank and the counterparties remain as protected as possible from excessive credit risk exposure, and hence can minimise the amount of regulatory capital set aside against credit risk.
  • Collateral Management Operations Group consists of 160 FTEs globally operating across 5 locations.

Purpose & Scope of Role

Mitigate Counterparty risk through the exchange of collateral with counterparties, in line with contractual and regulatory obligations. Includes regulatory dispute management practice of counterparty portfolio reconciliation.

Key Responsibilities of Role

  • Oversight of Key controls within Collateral Operations
  • Aged Trade Breaks as part of PRDR or dispute management
  • Key Controls on Regulatory Reporting on PRDR 
  • Reg IM Forbearance Monitoring
  • Ensure Escalated disputes are being effectively managed in line with internal workflow.

New business initiatives and Client service management

  • Set-up new processes in response to new business initiatives

Relationship with stakeholders

  • Act as primary point of contact for key stakeholders to Collateral Operations

Experience, Qualifications & Competencies

  • Good understanding of Legal / Regulatory framework surrounding Collateral Management (OTC, Repo, SLAB activity),
  • Good understanding of OTC products and front to back trade lifecycle.
  • 5 years’ experience in Derivative Middle offices or similar CIB functions.
  • Strong Communications and time management skills.
  • Ability to prioritise 
  • Strong Analytical skills.
  • Ability to understand and to adapt to cultural difference – Experience in a multi-location environment considered as a plus
  • Strong risk awareness and good judgement for escalation purposes
  • Commercial mind-set
  • Ability to strike the right balance between client service and the requirement to “protect” the bank
  • English required – French would be an advantage
  • Tenacity / Drive – Must be able to get to the “bottom” of issues and challenge assumptions
  • Flexibility – Ability to modify work practices to respond to an ever changing environment
  • Experience in using key vendor tools to support Collateral Management (Acadia / TriOptima) preferable.
Primary Location: GB-ENG-LondonJob Type: Standard / PermanentJob: OPERATION PROCESSINGEducation Level: Bachelor Degree or equivalent (>= 3 years)Schedule: Full-time Reference: GBR000875