The bank for a changing world

FO Surveillance, FXLM

Contract

Standard / Permanent

Location

GB-ENG-London

Job function

FINANCIAL AND TECHNICAL EXPERTISE

Reference

EA'000005

BNP Paribas Overview

 

BNP Paribas has a presence in 75 countries with more than 185,000 employees, including 145,000 in Europe. It ranks highly in its two core activities: Retail Banking & Services and Corporate & Institutional Banking (CIB).

 

BNP Paribas Corporate & Institutional Bank is a leading European investment bank with global leadership in many of our businesses. With nearly 20,000 employees in over 45 countries, CIB can offer you an exciting and truly global career.

 

At BNP Paribas CIB, we work continuously on behalf of our clients, helping them to realise their projects around the world. You can be an important part of this, helping us to serve our clients both in mature and emerging markets, providing them with financial solutions across a diverse range of expertise, products and services. Our origins lie in Europe but nearly a quarter of our employees now work in our multi-award-winning Asia Pacific offices and we are a committed player in all markets.

 

Strong risk management, combined with the stability that comes from being part of one of the largest banking groups in the world, underpin our success. Joining us, you’ll become an integral part of a dynamic team that spans nationalities, cultures and backgrounds, drawing together people from around the globe and reflecting our commitment to international placements.

 

Department purpose / objectives:

Global Markets is BNP Paribas’ capital markets business within the Corporate & Institutional Bank (CIB), delivering solutions across asset classes, and industry-leading services for clients including Institutional, corporates, private banks and retail distribution networks.

 

Global Markets encompasses seven global business lines; G10 Rates, Equity Derivatives, Forex & Local Markets, Commodity Derivatives, Credit, Prime Solutions & Financing and Primary Markets, helping their franchise of clients find effective ways to raise and invest capital as well as manage their exposure to risk.

 

Global Markets is made up of over 3,700 staff globally based in EMEA, the Americas and Asia Pacific, with the main trading floors located in London, Hong Kong, New York, Paris, Singapore and Tokyo.

 

Purpose of the position:

 

As part of the FX Remediation Program, and in response to FCA conduct requirements, BNP Paribas has established a First Line of Defense Surveillance function within Global Markets (GM) FO reporting to OPC. GM Operational Permanent Control is part of Global Markets FO and is independent from the Business and is also part of the 1st Line of Defense. This newly created function aka the FOCS team monitors FXLM Trading & Sales business activity and electronic Communications, with the objective of deterring, detecting, and preventing Conduct Risk breaches.
An addition resource is required to extend the existing coverage to US activities and potentially other areas of Global Markets in the future.

The team is quite unique in the industry and has proved efficient in identifying potential conduct risk to BNPP managers. The team can follow easily market events and work with FO management by being located within the trading floor.


Specific Responsibilities of Role:
  • Contribute to the design, implementation and refinement of the monitoring procedures to more effectively identify actual or potential conduct risk scenarios.
  • Liaise with, and maintain a good working relationship with Desk Heads, and Senior Management and refine the escalation procedures, where possible, in order to help Desk Heads manage their business more effectively.
  • Work in shifts with the established FOCS team to monitor Trading and Sales business activity from 06.30am till 10pm – which allows covering for US working hours.
  • Use tactical spreadsheet-based tools, which can search the FXT Oracle database at a trade level, filter unwanted information and display the remaining results concisely, for subsequent analysis.
  • Monitor the Order Management system to identify “events” that can be associated with potential Conduct Risk breaches, and cross-reference these events against the analysis of the trade data.
  • Monitor chatroom communications using Keyword-based searches. Investigate keyword violations for context, and conduct more “in-depth” analysis on T+2 where there may be a suspicion of inappropriate communication.
  • Escalate potential conduct risk breaches to Desk Heads ensuring that there is an accurate and comprehensive audit trail of all relevant information.
  • Contribute to the design and production of timely Management Information for the Heads of Trading & Sales.
Competencies required for the role:
 
Conduct
  • Be a role model, supporting and fostering a culture of good Conduct
  • Demonstrate proactivity, transparency, and accountability for identifying and managing conduct risks
  • Consider the implications of your actions on colleagues, partners and clients before making decisions, and escalate issues to your manager when unsure
Technical skills and qualifications required for the role:
Market, Product and Business Experience
  • In depth knowledge of the Foreign Exchange market, ideally gained in a Spot FX Trading capacity.
  • Good understanding of the driving factors behind the required remediation of the Foreign Exchange businesses in the major banks.
  • Knowledge of other products would be an advantage.
 
Technical Skills
  • Knowledge of actimize is an advantage
  • Advanced knowledge of Excel is essential
  • Bloomberg knowledge is essential

Business risk
  • Demonstrates a good awareness of risk and fundamental risk concepts.  Always considers risk in his/her daily activities and abides by the Key Front Officer Responsibilities and FXLM Principles and  Guidelines.
  • Understand conduct risks
     
Essential personal skills
  • Excellent communication, writing and presentation skills essential.
  • Strong interpersonal skills (both internal and external).
  • Organization skills
  • Excellent analytical and problem solving skill
  • Diligent
     
Diligence
  • Displays dedication & prioritizes problems by considering the impact on the business; identifies quick-wins
 
Resilience
  • Stays calm and positive, controls his/her emotions in conflict or any situation of intense stress
  • Ability to undertake a number of  issues simultaneously is essential as well as the ability to work under considerable pressure
  • Passion, tenacity and resilience in an ever changing environment
 
Innovation
  • Thinks laterally to identify other sources of useful information and sees ways around obstacles and barriers.