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Associate - Risk Controls - Market Risk
Risk & Compliance
Job Title: Associate – Risk and Controls
Department: Market Operations
About Business line/Function: Product Control is part of COCE (Client Operating Centre of Excellence), performing multiple Middle Office functions. Product Control have 6 verticals - P&L and Valuation Controls, OTC Trade Validation, Securities Trade Validation & Documentation, OTC Documentation, Trading & Portfolio Control and Position Management. Team works very closely with Trading, Sales, Business Managers and various FtB teams like Back Office, Regional Finance and COO community
Position Purpose: Risk Control (is a distinct group within the V&RC organization, whose main objectives are:
· Perform controls over end-of-day and intraday risk limits
· Ensure compliance with trader mandates
· Escalate and report breaches to management
Responsibilities
Direct Responsibilities
- Contribute to Risk Control framework: End-of-day Risk Limits, Intraday Risk Limits and Trader Mandates. This increasingly complex and demanding function requires ongoing participation in process execution, analyses, and project coordination by all team members.
- Ensure that daily end-of-day/intraday limits and mandate breaches are investigated, understood, promptly escalated according to the global policy and all the comments are well documented in the daily/weekly/monthly summary reports and Dashboard.
- Particularly regarding the risk limits monitoring there is a need for constant dialogue and interaction with Traders, Front Office management, Risk and Operations department and IT to:
- Understand the methodologies used to compute the market risks indicators in the risk systems to calculate end-of-day risk and Intraday risk limits
- Identify, research and resolve limit discrepancies between the FO system and Risk system
- Identify inconsistencies across risk indicators
- Coordinate with other internal groups to resolve issues and post accurate market risk in the official Risk system
- Ensure control exhaustiveness
- For the trader Mandate management function:
- Understand the different mandate characteristics and controls across the various product asset classes
- Identify, investigate and escalate policy breaches
- Summarize and report outstanding issues to global V&RC management, coordinate to resolve the issue (ie: update the mandate systems globally, amend the mandate reconciliation logic)
- Ensure timely signoff if Trading Mandates by FO personnel
- Ensure control exhaustiveness
- Changes are documented and exhaustively maintained.
· Implement new controls and processes arising changes in the regulatory environment such as Volcker and the French Banking Law.
Contributing Responsibilities
· Contribute to the Permanent Control framework
· Practical understanding of option theory and an interest in financial markets
· Ability to explain various option pricing parameters, particularly Equity Options.
· Project coordination skills. Effectively communicate and coordinate across diverse global groups to meet challenging targets.
· Prior Risk, P&L, Product Control or Audit experience or other experience working in a control function
· Working product knowledge across a wide range of asset class, Equities preferred.
· Strong IT skills including Excel, VBA, and PowerPoint. Intermediate to advanced Excel skills.
· Technically strong in areas of financial mathematics complemented by knowledge of market practice.
Technical & Behavioral Competencies
- 2+ years of relevant financial industry experience
- Strong control oriented mindset
- Thrive under tight deadlines to produce accurate and thorough results. Attention to detail is essential especially when under pressure and time constraints.
- Strong written and verbal communication, listening skills. Ability to effectively communicate to various audiences (senior, junior, trading, IT, non-technical, audit, etc.)
- Results/Solutions driven: Manage constraints and competing priorities; ability and mindset to compromise and build consensus to optimize outcomes
- Intellectual interest in operational risk; overall concern over the effectiveness of the bank’s control structure.
- Ongoing curiosity in the evolution of the market environment, the organization, and the bank’s businesses.
Education Level:
· Bachelor or Master Degree on Economics, Mathematics or Finance.
· Fluent in English (both oral and written communication)
Location: Bengaluru
About BNP Paribas Group:
BNP Paribas is the European Union’s leading bank and key player in international banking. It operates in 65 countries and has nearly 185,000 employees, including more than 145,000 in Europe. The Group has key positions in its three main fields of activity: Commercial, Personal Banking & Services for the Group’s commercial & personal banking and several specialized businesses including BNP Paribas Personal Finance and Arval; Investment & Protection Services for savings, investment, and protection solutions; and Corporate & Institutional Banking, focused on corporate and institutional clients. Based on its strong diversified and integrated model, the Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realize their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, BNP Paribas has four domestic markets: Belgium, France, Italy, and Luxembourg. The Group is rolling out its integrated commercial & personal banking model across several Mediterranean countries, Turkey, and Eastern Europe. As a key player in international banking, the Group has leading platforms and business lines in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific. BNP Paribas has implemented a Corporate Social Responsibility approach in all its activities, enabling it to contribute to the construction of a sustainable future, while ensuring the Group's performance and stability.
About BNP Paribas India Solutions:
Established in 2005, BNP Paribas India Solutions is a wholly owned subsidiary of BNP Paribas SA, European Union’s leading bank with an international reach. With delivery centers located in Bengaluru, Chennai and Mumbai, we are a 24x7 global delivery center. India Solutions services three business lines: Corporate and Institutional Banking, Investment Solutions and Retail Banking for BNP Paribas across the Group. Driving innovation and growth, we are harnessing the potential of over 10000 employees, to provide support and develop best-in-class solutions.
Commitment to Diversity and Inclusion
At BNP Paribas, we passionately embrace diversity and are committed to fostering an inclusive workplace where all employees are valued, respected and can bring their authentic selves to work. We prohibit Discrimination and Harassment of any kind and our policies promote equal employment opportunity for all employees and applicants, irrespective of, but not limited to their gender, gender identity, sex, sexual orientation, ethnicity, race, colour, national origin, age, religion, social status, mental or physical disabilities, veteran status etc. As a global Bank, we truly believe that inclusion and diversity of our teams is key to our success in serving our clients and the communities we operate in. As a global Bank, we truly believe that inclusion and diversity of our teams is key to our success in serving our clients and the communities we operate in.