Standard / Permanent
The BNP Paribas Group is a leader in banking and financial services, employing over 184,000 people across 75 countries and 5 continents. BNP Paribas Corporate & Institutional Banking (CIB) is a leading European investment bank with global leadership in many of our businesses. BNP Paribas CIB, with nearly 30,000 employees in over 57 countries, can offer you an exciting and truly global career.
The Collateral Management Operations 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 $90 Billion of collateral globally on behalf of the Bank and its counterparties as regulators to require Banks to mitigate counterparty 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.
The Collateral Management Operations Analyst will be responsible for the full front to back daily margin call process for specific clients:
- Performing Data Quality analysis prior to issuing margin calls
- Margin Call issuance and responding to incoming margin calls
- Booking of eligible Credit Support (Free of Payment cash/ bonds / Tri-Party or repricing)
- Dispute resolution through portfolio reconciliation
- Monthly interest settlements
- Perform and respond to control reporting to ensure effective break/ fails and exception management
Degree in Economy/Finance/Management or experience in the banking industry
- Between 0 to 5 years’ experience within Investment Bank Operations / Capital Markets
- Previous experience in Collateral Management, Derivative Middle-Office and reconciliation are a plus
- Knowledge of derivative products and experience of ISDA /GMRA documentation are a plus
- Fluency in English is mandatory
- Strong Excel / Access skills
- Strong communication skills and team player, required for an effective liaison across multiple stakeholders
- Risk awareness and attention to detail
- Time management and ability to prioritise effectively based on the risk / time criticality of the tasks required
- Innovative mindset and able to improve processes to minimise risk and increase efficiency