BNP Paribas Overview
BNP Paribas has a presence in 72 countries with more than 200,000 employees, including 154,000 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 30,000 employees in over 57 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.
Business Area/Dept Overview
On the Global Markets and ALMT perimeters, and on a global basis
•Product Control is responsible to ensure that trade representation is in line with internal reference during all the lifecycle of the products, including fixing management (Term-sheet or similar). In order to ensure this responsibility, Product Control
oacts as independent validator of the complex operations, and in particular, ensures they are valued with the appropriate model and accounting scheme at initiation and during their lifecycle,
orelies on Trade Processing function on vanilla products.
•In accordance with the Charter of Responsibility on Valuation defined within the Group, Product Control is responsible for the accuracy of the economic result calculation for the Business, Risk and Finance departments. To do so, the team is in charge of P&L production and analysis, performance reporting to management, and controls on Valuation in cooperation with Group Risk Management and Finance.
•Product Control contributes to the Monthly FACT reporting to Finance, ensuring proper controls have been performed and guarantee the accuracy of the P&Ls.
•Product Control acts as a second level control function for the benefit of Heads of GBLs and ALMT to monitor that trading activity is conducted within a specified framework.
•Product Control acts as a second level control function on trading contribution to market indices for the benefit of Heads of GBLs and ALMT, OPC and Compliance.
•Product Control is part of the control framework for valuations (“Independent Price Verification” process) and Anti-Fraud. As a consequence, Product control is the point of contact for operations on valuation, risk or trader mandates related issues.
•Product Control contributes to the projects related to Finance or regulatory requirements.
•Product Control contributes to some transversal projects related to their mandate (WW Program Blue, FBL/Volker Rule implementation….), and other one-off related analysis as necessary.
Product Control sponsors the main transversal projects related to their mandate (e.g. XTarget, FORMA, FEBUS….).
Purpose & Scope of role
•Purpose: Trade Support role for IRD Exotic products monitoring
•Scope: the IRD Exotic Trade Support team supports the activity of EMEA traders
•Exotics Rate Derivatives
Key Responsibilities of role
•Management of flow of new trades and amendments from Front Office systems (MAD, STAR, MarkitWire) to Back Office system (Murex), manually booking and amending in Murex where necessary.
•Reconciliation between Front Office systems (STAR, MarkitWire) and Back Office system, checking Present Value are in line, as well as other economic details (fixing dates, rates, cashflows etc)
•Working with Middle Office P&L and confirmations teams to reduce operational risk and maintain highest levels of support for each portfolio.
•Build and maintain good working relationships with other internal clients such as legal, marketers, trading & back office, as well as external clients.
•Ensure accurate and timely processing of rebooking initiatives and migrations
•Oversee all reconciliations and reports in the area and investigations are completed on a timely basis.
•Dealing with queries from back-office, marketers, trading and clients, relating to booking discrepancies.
•Provide cover for other members of the Trade Support team when necessary, ability to flex between teams depending on daily volume and demand.
•Management of Options (expiry report, checking confirmations, processing etc).
•Contribute to the implementation of new system functionalities and raise IT requirements for bug fixing or system enhancements when possible.
•Participate, and if necessary, take the lead in Transversal projects.