Company purpose:
Our company purpose is to contribute to a responsible and sustainable economy by financing and advising clients according to the highest ethical standards.
Our employer promise is built around three pillars:
• Being a great place to work
• Committed to sustainability and having a positive impact
• Being dedicated to the development of our people
Business area
Within Product Control, Derivatives Trade Validation teams ensure an independent control of operations and are responsible to ensure the correct representation of products and trades between the trade capture in BNPP systems and reference documentation or Controls
The team is responsible for the monitoring of transactions flows from FO to Post Trade systems and the validation of trade representation from Primary Trade Capture through all life Cycle events.
It ensures that derivatives transactions registered in the books under CIB ITO’s mandate match the commitment taken with counterparties within a secure setup, in accordance with Group and Regulatory Policies and/or the contractual agreements. The main covered processes for these transactions include booking, validation, transaction event related follow-up validation through a secure framework.
Job purpose
This role is within Exotic Rates Derivatives Trade Validation in Product Control, reporting to the Global Head of Macro and Credit Derivatives Trade Validation based in London. It will be integral to the role to work closely with the Sales & Trading teams, Back Offices, Other Middle Offices, DRIVE and project teams globally.
Perimeter mandate:
· Booking validation of Exotic Rates Derivatives trades at inception and during their lifecycle.
· Amendments responsibility as per the Amend & Cancel policy
· Implementation of transversal controls complying with new Regulatory constraints
· Implementation of transversal controls on booking for derivatives and process improvements.
· Definition and implementation of remediation plan following potential incidents
Key responsibilities
Performance Management
· Ensure that progress against objectives for all reporting staff is reviewed
· Coordinate with operational managers the training requirements for individuals and teams and develop training frameworks adapted to Trade Validation teams in partnership with Learning & Development. Train and nurture new joiners to the team(s) by setting clear training programs.
· Contribute to the development of individuals within Exotic Rates Derivatives Trade Validation teams, through coaching, mentoring and internal mobility
Controls & Oversight
• Ensure the robustness of the control framework to ensure the appropriate management of operational risks.
• Ensure OPC / Risk-ORC reporting is effected thoughtfully and comprehensively
• Regularly follow up on any audit finding and implement corrective action as necessary
· Oversight of global production activities
o Regional and Global KPI/KRI analysis and risk identification in coordination with locations, business & other potential stakeholders. Challenge situation by identifying, designing and deploying missing KPI/KRI
o Assess and track incidents having impacts on the overall process and define / monitor related action plans.
o Responsible to identify gaps between client needs versus existing Ops set-up & processes and define any required remediation.
o Functional escalation contact for queries related to global Exotic Rates Derivatives perimeter
o Leadership of SMEs globally on functional topics
· Identifying and implementing process improvements
o Review initiatives related to process reengineering and automation of existing processes
o Review standard vs non-standard process, challenge non-standard processes & design relevant control framework
o Review Business requirements for IT developments
o Centralize & prioritize OPS IT requirements on platforms used by the teams
o Review the delivery of efficiencies within the global Exotic Rates Derivatives perimeter
o Review the working procedures globally in conjunction with offshore teams and SMEs
o Identify and reduce the operational risks by proposing pragmatic solutions to enhance F2B processes
o Contribute to the training of SMEs locally and globally. Knowledge transfer of new and existing activities to the offshore team
o Identify enhancements to key processes and controls.
o Design a plan to prioritize and implement identified enhancements.
· Point of Contact for internal/external stakeholders
o Manage communication channels with managers
o Contribute and represent Ops on new business Activities
o Contribute to the review of the Target Operating Model between Regions, Hubs and Territories taking into account efficiency, capacity management and resilience
o Contribute on transversal projects coordinated by Projects teams (Drive, P&C, IT…) esp. around IT architecture (system migrations)
o Manage ‘medium’ sized Operations projects and interventions to improve the Operations service provision to the business and/ or acts as a key resource in large-scale projects
· Efficiency & Transformation
o Contribute with senior management to the definition and implementation of the transformation strategy for Trade Validation teams
o Work with various Trade Validation teams across the globe to identify potential for harmonisation and realization of the Banks objectives
o Ensure timely and effective delivery of projects and initiatives for Exotic Rates Derivatives Trade Validation teams
Requirements
• Professional qualification required with expert technical knowledge and experience in systems and business domain on the Exotic Rates perimeter F2B chain, typically gained at BNP Paribas or within another top tier investment bank.
• Significant experience in projects: Migration & Transformation
• Broad experience working in control functions within an investment bank
• High degree of knowledge in product and process issues affecting the department
• Strong focus on accuracy and attention to detailEffective time management and ability to prioritise workload and escalate issues to management.
• Good working knowledge of company-wide policies, procedures, regulations and legislation
• Experienced at managing internal and external relationships at all levels (including senior), and capable at working with them to understand requirements and define appropriate solutions.
• Strong people management skills and an ability to work with individuals to set individual objectives and manage performance to ensure their delivery.
• Excellent analytical skills with the ability to translate technical concepts and provide specialist guidance and advice to others and have the ability and willingness to get into the detail to find solutions.
• Excellent written and oral skills in order to articulate technical issues and to be able to take the complex and make simple to enable effective communication with individuals across the business
• Computer literacy and a good understanding of relevant software including Word, Excel and PowerPoint
And of course, we expect all our colleagues to embody and practice the Group values (alignment with the Bank’s strategy, commitment, work ethic, integrity and Code of Conduct).
A bit more about why you should join us
1. We’re a great place to work
We aim for optimal work/life balance (depending on role, this includes hybrid working, flexible working and agile)
We are proud of our award-winning flexible benefits and health & wellbeing strategy. Our flexible benefits include:
• Generous holiday allowance of at least 26 days (plus bank holidays) – with option to buy and sell holidays.
• Valuable financial plans – a 12% non-contributory pension which has been moved to sustainable investments*, life assurance*, income protection and personal accident insurance.
• Extensive wellbeing and mental health offering – one of the most advanced private medical schemes in the UK, dental cover, wellbeing app, Cognitive Behavioural Therapy support, subsidised gym memberships, bespoke health assessments including genetic testing, Private GP (including digital GP services to parents of employees), Employee Assistance Programme, menopause & fertility support (we are an accredited Menopause Friendly Employer), neurodiversity assessment and support.
• Key onsite services and facilities in London – include physiotherapy, nutrition, massage therapy, physiology, mental health first aiders, seasonal flu vaccinations and free onsite fitness centre.
• Plus, emergency back-up care for dependants, green car leasing, season ticket loan, and a range of other benefits.
* Subject to relevant caps
2. As the eurozone’s largest bank, we are committed to having a positive impact in the world.
For example, we are committed to Net Zero in all of our financing and investment portfolios by 2050. By 2030, 80% of our energy production financing will be low carbon.
But impact for us means more than climate. It means empowering our people every day. Everyone gets four volunteering days each year – in 2023, we achieved over 18,000 hours of volunteering across the UK and reaching over 4,500 young people.
3. We believe in our people
We support our people to develop skills to adapt to the ever-evolving world of work and to prepare for the jobs of today and tomorrow. We do this through a comprehensive training offering, talent programmes, mentoring, career days and inhouse career tools.
We are proud of the number of our people who progress and secure new roles internally. In fact, in 2023, nearly half of our positions in UK CIB were filled internally.
Investing in our people also means we have a collaborative and inclusive culture:
• Direct feedback from our people shows that our internal culture sets us apart from our industry peers.
• Each year, nearly 30,000 employees globally are involved in professional networks that play an active role in promoting Diversity and Inclusion within the Group. These include our:
Pride Network, Ability Network (which supports disabled employees), MixCity (gender equality network), Women in Global Markets, Women in Global Banking, Women in IT, Diversity Equity & Inclusion in Technology, Early Careers Network, Multicultural Network and Parents & Carers Network.
Equal opportunities
BNP Paribas is committed to providing a work environment that fosters diversity, inclusion, and equal employment opportunity without regard to age, disability, gender reassignment, marriage or civil partnership status, pregnancy and maternity, race, religion or belief, sex or sexual orientation, or any other legally protected status.
Adjustments
We don’t want anyone to be disadvantaged in our recruitment processes, so if you have a disability or health condition which may mean that you’d benefit from some adjustments or additional support, please let us know as early in the process as possible.
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