Associate/Sr. Associate - Collateral Management
Standard / Permanent
To support the operational implementation of new collateral agreements managed by the London Collateral team, both for repos and derivatives.
· 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 $15 Billion of collateral globally on behalf of the Bank and its counterparties and this figures is expected to rise significantly in this environment of declining credit quality and increasing use of Derivatives, together with increasing pressure from regulators to mitigate credit risk.
· 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.
Product knowledge of derivative products
· Understanding of the regulatory requirements
· Previous experience of Collateral management or Derivative middle office. Portfolio reconciliation team would be ideal
· Strong Trioptima experience. The position will require good reconciliation skills which will be performed within Trioptima
· Communication skills – required for effective liaison across the multi stakeholders
· Time management – Ability to prioritise effectively based on the risk / time criticality of the tasks required
Innovation - Looking at way to improve processes to minimise risk / increase efficiency Strong Excel, Access stills favourable.