We are looking for

VP – Fixed Income Valuation Team Manager

Apply REF: GLO004188

About BNP Paribas:

BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 72 countries, with more than 202,600 employees, of which almost 155,000 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 European 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.

www.cib.bnpparibas.com


Business Overview:


Candidate Success Factors:

Candidates will be measured on the following four performance drivers that will dictate how individual impact is considered on the Americas platform:

  • Results and Impact
  • Leadership and Collaboration
  • Client, Customer and Stakeholder Focus
  • Compliance Culture and Conduct

Responsibilities:

Manage a team of professionals responsible for the independent Price Validation of all fixed income instruments traded in Global Market.

  • Perform Independent Price Verification (IPV) processes for Fixed Income products with emphasis on credit, rates and LATAM products
  • Lead projects, implementing new processes, re-engineering and industrializing current processes. Ensuring handover and methodology documentation on the parameter review processes are up to date and signed off by management.
  • Propose innovative enhancements to valuation methodologies. Implementation through consultation with and validation from local and global Risk (Risk-GM) and Financial Control groups.
  • Effectively manage relationships with Front Office, Risk-GM and Research.
  • Communicate effectively with senior management the results of the IPVs and highlight ongoing issues.
  • Contribute to the evolution of the price verification processes. This includes identification of the instruments that create risk in the corresponding parameters and the assessment of alternative checking methods and sources. Analyze and question current processes and contribute to their improvement.
  • Actively and regularly coordinate with V&RC Central colleagues to ensure:

    • IPV and pre-IPV schedules are agreed and followed

    • Results are accurately communicated and included in Global Reporting

    • Global practices are understood and harmonized where possible

  • Contribute to the maintenance of the matrix (market data cartography) that records the details for all parameters used in the Official PnL,ensuring that all parameters are controlled and accounted for and changes are properly authorized.

  • Organize and store all month end reviews and relevant materials, ensuring that records are accurate and complete. Carry out periodic reviews to ensure that documentation is adequate for internal and external reviews.

  • Work within a limited period as part  of a team and product accurate month end corrections. This might require discussion and timely conclusions with the Front Office and Risk-GM related to the quality and accuracy of the reviews.

  • Maintain good working relationships with other Product Control teams, Front Office, Finance and Risk-GM.

 

Minimum Required Qualifications

  • Undergraduate degree in Engineering, Finance, Economics or Mathematics with high academics.

  • 7+ years of relevant industry experience dealing with valuation and IPV of which 2 as a manager

  • In-depth Knowledge of valuation of all Fixed Income instruments including complex derivatives, swaptions, CDS, Repos, Loans, Interest Rate and Currency Swaps, Bond options, Corporate bonds and LATAM financial instruments.

  • Knowledge and understanding of options basics (Pricing/Models, Greeks, P&L effects, etc)

  • Excellent IT skills including VBA, Excel, Python, Power BI. Quick to assimilate new technology/systems and adapt into processes.

  • Strong written and oral communication, listening skills, including ability to concisely summarize findings and progress to management, especially in short timing under pressure.

  • Ability to think critically, identify gaps in current controls and suggest improvements to existing processes.

  • Ability to think in a control mindset, ensure all work is recorded, documented and readily available for audit.

  • Ability to work in a global organization and build effective relationship with other counterparts/regions.

  • Must be organized, accurate and attentive to detail.

  • Must work well both within a team and independently.

  • Ongoing curiosity in the evolution of the market environment, the organization and the bank’s business.

Preferred Qualifications:

  • Masters in Financial engineering or related graduate degree
  • CFA, FRM or equivalent certification


FINRA Registrations Required:

 

Not applicable

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.


Primary Location: US-NJ-Jersey CityJob Type: Standard / PermanentJob: MISCELLANEOUSEducation Level: Bachelor Degree or equivalent (>= 3 years)Experience Level: At least 7 yearsSchedule: Full-time Reference: GLO004188