IRD Exotics Trade Validation – Associate

Employment contract:

Permanent

Location:

London, London, City of, United Kingdom of Great Britain and Northern Ireland

Job/mission:

OPERATION PROCESSING

Reference:

12351891

BNP Paribas is a leading bank in Europe
with an international reach. It has a presence in 73 countries, with more than
196,000 employees, including around 149,000 in Europe. The Group has key
positions in its three main activities: Domestic Markets, International
Financial Services (whose retail-banking networks and financial services are
covered by Retail Banking & Services) and Corporate & Institutional
Banking, which serves two client franchises: corporate clients and institutional
investors.

BNP Paribas Corporate and Institutional
Banking is a globally recognised leader offering capital markets, securities
services, financing, treasury and advisory solutions.

Encompassing
a variety of different teams globally across Global Markets and ALMT
perimeters:

  • 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 P&L team
    oversees P&L production and analysis, performance reporting to
    management, and controls on Valuation in cooperation with Group Risk
    Management and Finance.
  • Within Product Control,
    Trade Support’s function overflow and exotic products for Global Markets
    is the monitoring of transactions, the Front-to-Back workflow from FO to
    Post Trade systems and the validation of trade representation.
  • 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 is part of
    the control framework for valuations (“Independent Price
    Verification” process) and Anti-Fraud. Consequently, Product control
    is the point of contact for operations on valuation, risk or trader
    mandates related issues.
  • Product Control is a key
    contributor to projects related to Finance or Regulatory requirements.
  • Product Control sponsors and
    contributes to strategic transversal projects related to their mandate and
    other ad hoc analysis as necessary.

Job Purpose & Scope

The role of the IRD Exotic
Trade Validation – Associate is accountable for the delivery of the IRD Exotic
Derivatives Trade Support Activities within the OTC & LD Trade Validation
team which processes any OTC & LD Transaction for which terms &
conditions are negotiated, with the mandate to ensure that it is correctly
represented in the booking system, consistent with the sale and allocated if
necessary. They will also ensure that the transaction is correctly feeding FO to
BO booking systems.

The
role falls within the IRD Exotic Trade Support Team

  • Management of trades in the
    STP workflow (Star), progressing to validation of any amends performed
  • Booking of simple to
    intermediate complexity trades in the MAD workflow with minimal errors
    initially, developing to advanced complexity trades in the MAD workflow
    with minimal errors
  • Running all reconciliations
    and investigating any breaks identified
  • Once the analyst can exhibit
    high levels of accuracy and understanding, they will progress to
    validation of trades in the MAD workflow with maximal accuracy
  • Advanced understanding of
    the products, GBLs covered, systems and trade processing workflow. Able to
    solve and respond on the majority of queries.
  • Management of the different
    blotters, ensuring the trades are picked up and if necessary, allocated
    for processing in a timely manner
  • Assist the manager and
    senior analysts on ad-hoc projects.
  • Assist in the training of
    new and junior members of the team

Scope

  • The IRD Exotic Trade Support
    team supports the activity of EMEA traders across G10 Rates, FXLM and
    PCMGlobal Macro and Global Credit.

Product

  • Exotic Rates and FX
    Derivatives
  • Exotic Options
  • Inflation
  • Balance Guaranteed Swaps
  • Credit hybrids/FX Hybrids
  • Credit Structured

Key Responsibilities

  • 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.
  • Manual booking of simple to
    intermediate complexity trades with minimal errors initially, developing
    to advanced complexity trades
  • 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 and external clients and 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 internal and external 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.

The Requirements

  • Positive and dynamic
    attitude to complying with deadlines and objectives.
  • High level of technical
    competency and product knowledge
  • High degree of interest in
    product and process issues affecting the department.
  • Effective time management
    and ability to prioritise workload and escalate issues to management.
  • Have strong interpersonal /
    communication skills.
  • The candidate must display a
    very professional attitude and be adaptable to the workload volume.

Core
Competencies

  • Team Spirit
  • Communication
  • Motivation and Commitment
  • Change Management
  • Technical Business Knowledge
  • Controls and Production
  • Results Orientation
  • Analytical and
    Organisational skills

Equal
Opportunities

BNP Paribas promotes equality of
opportunity and is committed to ensuring that no individual is discriminated
against on the grounds of age, disability, gender reassignment, marriage or civil
partnership status, pregnancy and maternity, race, religion or belief, sex or
sexual orientation.

As an employee with BNP Paribas London Branch, we want to
make sure that you are rewarded for your commitment. As such, you will be
entitled to our award-winning benefits package which includes a generous
holiday allowance of at least 34 days (including bank holidays), a
non-contributory pension of 12%, private healthcare, GP service and dental
cover all as standard, along with a number of personal insurances such as
income protection, life assurance and personal accident insurance. We believe
in ensuring all our employees have a positive work life balance so in addition
you will also have access to a variety of flexible lifestyle benefits such
as cycle to work and green car leasing schemes, season ticket loans and reduced
cinema and gym membership to name a few.

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