BNP Paribas Group
BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 75 countries, with more than 189,000 employees, including more than 146,000 in Europe. 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, corporates and institutional clients) to realize their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP Paribas Personal Finance is the leader in consumer lending. BNP Paribas is rolling out its integrated retail-banking model in Mediterranean countries, in Turkey, in Eastern Europe and a large network in the western part of the United States. In its Corporate & Institutional Banking and International Financial Services activities, BNP Paribas also enjoys top positions in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific.
About BNP Paribas Corporate and Institutional Banking
Fully integrated in the BNP Paribas Group, BNP Paribas Corporate and Institutional Banking (CIB) is a leading provider of solutions to two client franchises: corporates and institutionals, and operates across EMEA (Europe Middle East Africa), APAC (Asia Pacific) and the Americas. The bank is a global leader in Debt Capital Markets and Derivatives. It is a top European house in Equity Capital Markets and it has leading franchises in Specialized Financing. In Securities Services, it is a top five House worldwide. BNP Paribas CIB strives to service the global economy by providing solutions to its clients in financing (ECM, DCM, specialized financing), flow banking (trade finance and cash management), financial advisory (M&A, project finance), global markets (interest rates, credit, foreign exchange, equity derivatives), risk management, and securities services.
BNP Paribas, one of the major banks in Europe with a strong presence throughout the world, is a leader in Global Equities & Commodity Derivatives. As part of this activity, the Middle-Office is an important component, with teams established in the major financial places (New-York, London, Tokyo, Hong-Kong and Paris). The main missions of these teams are:
- The management of operations in the booking systems.
- The follow-up of client billing and reporting.
- The reconciliation of positions between FO and booking systems.
- The calculation, explanation and analysis of the daily profits and losses including reconciliation with Financial accounting results.
- The management of the referential data.
- The management of relationships with BO and Custodians.
- The management of Corporate Action events and advice to FO teams.
- The management of trades are in compliance with Dodd Frank and EMIR rules for real time reporting, SEF execution and mandatory clearing for eligible trades
These missions are accomplished through a close relationship with Back-Offices, Traders, Sales, IT and Business Analysts. In this context, the OTC Flow Trade Support is a key component of the North America Global Market Middle Office (55 team members between NYC and Montreal Office). They cover all the activities and products of the Global Market business in North America, which includes equity derivatives, commodities, credit, delta one products and prime services.
- Supervision of Daily Production
- Daily supervision of a team of 7. Continuous review and monitor of controls that are in place and performed daily by the team to ensure operational risk and risk of fraud are set at a minimum.
- Review progress against objectives for all reporting staff, monitor staff performance as compared to defined responsibilities and addressing performance issue.
- In the event of resignation, vacation or any staffing shortage, the daily supervisor will be expected to be “hands-on” and perform production tasks when necessary
- Act as an escalation contact for internal and external clients. Escalate to upper management on any high risk issues.
- Monitoring of Operational Risk
- Provide proper FO Support: Products included but, not limited to; equity derivatives, Equity swaps, ETFs.…
- Operational risk and risk of fraud set to a minimum with consistent and adequate controls
- Challenge any ad-hoc requests/amendments by Trading on T+2
- Orus: ensure signoffs are completed daily with full disclosure of detailed reports checked, issues faced and risk accurately assessed.
- Improve existing processes with overall STP flow and ensure highest quality of booking.
- Issues identified and timely escalated to direct management, FO management and Permanent Control team.
- Position Management
- Guarantee accurate trading positions in FO systems
- Reconcile positions between FO, MO and BO.
- Daily goal is to correct all discrepancies originated by system bugs, input mistakes, information loss
- Ensure/guarantee the payoff accuracy in the Front-Office systems
- Ensure all the reconciliations are performed in timely manner and every breaks are addressed on T.
- Guarantee Up to date Middle Office Databases
- Includes expiry of products, amendments of deals characteristics, deal insertion/cancellation, secondary trade management.
- Includes Corporate Action Management, Index simulation and composition monitoring.
- General Functions outside of daily activity
- Promote an efficient dialog/discussion between the Front office and the Back-Office
- Contribute and keep up with new market initiatives and regulatory projects
- Ensuring all regulatory and internal targets are met
- Produce and review of management reports including KPIs and monthly statistics.
- Participate in recruitment/training of temp/trainees/permanent to ensure team objectives are met and develop a control mentality.
- Support any new activity done by various desks supported by team (NAC and TAC)
Minimum required qualifications
- Strong qualification level in equity derivative markets. Financial market knowledge of derivatives products including TRS, ETFs, Equity Swaps, Variance products etc.
- In-depth knowledge of EQD and Delta one Business. Including understanding of index methodology, corporate actions and dividends monitoring.
- Ability to take initiatives and manage projects from front to back.
- Time management to meet rigorous deadlines on multiple concurrent tasks.
- Experience on financial markets (Middle Office and Back Office).
- Strong sense of risk and critical thinking.
- Flexibility to adapt to a new and changing environment.
- Rigorous and very organized
- Maintains high quality of customer service.
- Ability to effectively listen and communicate.
- Display good relationship qualities, team spirit, and ability to work across teams.
- Direct contribution to BNP Paribas operational permanent control framework.
- At least 5+ years of relevant financial industry experience.
FINRA Registrations Required:
- Series 99 FINRA certification
BNP Paribas is committed to providing a work environment that fosters diversity, inclusion, and equal employment opportunity without regard to race, color, gender, age, creed, sex, religion, national origin, disability (physical or mental), marital status, citizenship, ancestry, sexual orientation, gender identity and gender expression, or any other legally protected status.