Vice President – Credit & Asset Management - CLO & SPF

ABOUT THE JOB

In the UK, Global Banking focuses on 4 main business areas: Corporate Clients Group, Global Capital Markets, Low Carbon Transition Group and Transaction Banking.

This role sits within Global Capital Markets, which is a platform designed to provide a fully integrated offer across debt and equity, and work closer with its issuer and investor clients.

Capital Markets encompasses several business lines including Global Securitised Products which is split into Origination & Structuring (O&S), Credit & Asset Management (C&AM) and COO.

The C&AM team is accountable for risk-taking, portfolio resilience and active lifecycle management of the SP financing portfolio.

This role sits within C&AM with a primary focus on Collateral Loan Obligations (CLO), and also Senior Portfolio Financing (SPF).

In the CLO business, the bank originates, ramps and manages leveraged-loan portfolios through Warehouse (WH) facilities ahead of term securitisation.

The SPF activity covers structured financing secured by pools of middle market loans and other credit assets, applying the same rigour of collateral approval, monitoring and reporting.

The C&AM team works in close cooperation with Origination & Structuring, Risk and Operations, and benefits from a dynamic, entrepreneurial and international environment, collaborating daily with colleagues across London, Paris and Lisbon.

This is a Vice President role within the C&AM team, focused on the credit and asset management of CLO warehouses, SPF transactions and related activities. The successful candidate will own the day-to-day collateral approval for assets brought into CLO warehouses, and support the broader monitoring through reconciliations, portfolio reviews, annual reviews and facility waivers.

As an advanced, fully experienced Global Banking professional, you will apply substantial technical expertise to perform complex tasks and resolve complex credit, collateral and reconciliation issues in creative and effective ways, exercising independent judgement in new situations and drawing on prior experience across leveraged-loan and structured-credit portfolios.

You will manage these workstreams end to end, ensuring the quality and timeliness of deliverables while coordinating the planning of work for, including the Lisbon team. You will manage relationships with internal stakeholders and with external counterparties independently, under the strategic guidance of senior colleagues, and delegating routine tasks appropriately to build the overall capability of the C&AM team.

KEY RESPONSIBILITIES

• CLO Warehouse

• Collateral approval: review and approve each asset proposed for inclusion in each CLO warehouse, checking compliance with the facility’s eligibility criteria, concentration limits, portfolio profile tests and documentation requirements.
• Portfolio monitoring: prepare monthly warehouse dashboards, prepare and present quarterly portfolio reviews summarising portfolio composition, key portfolio metrics, compliance with eligibility and concentration tests, rating distribution and migration, weighted-average metrics (e.g. spread, rating factor, life) and the main risk indicators for internal stakeholders. Contribute to and present to the credit committee annual reviews and facility waivers.
• Liaise with the Lisbon team to prepare and/or review the WH reconciliations – positions, cash, purchases/sales and collateral – against custodian, collateral administrator, trustee and counterparty records, investigating and resolving any breaks on a timely basis, as well as rating assignment for assets brought into the CLO warehouse.

• SPF portfolio

• Monitor and analyse the ongoing performance of the underlying assets over the life of each facility, detecting names in difficulty, reviewing available materials (information memoranda, current trading, covenant compliance) and forming a high-level credit view and appropriate valuations.
• Assess requests for waivers and amendments, including the inclusion of non-conforming assets in the borrowing/collateral base, leading or supporting Origination & Structuring as required.
• Support the origination, structuring, execution and onboarding of new SPF transactions.
• Produce internal and external reporting, including exposure breakdowns, risk dashboards and quarterly / annual transaction and portfolio reviews.

• Transversal Projects

• Contribute to automation and continuous improvement of the team’s portfolio-management, reconciliation and reporting tools and processes to enhance efficiency and reliability.
• Assist with transversal projects, the maintenance of internal policies and procedures, and the oversight of transaction execution, KPI monitoring and incident management.

We aim for optimal work/life balance (depending on role, this includes hybrid working, flexible working and agile) 

PROFILE & SKILLS

Knowledge, skills and competencies expected of a VP in Global Banking, applied to the Credit & Asset Management of CLO and SPF transactions, namely:

• A degree from a leading Business School, Engineering School or University, ideally with a specialisation in Finance, or equivalent experience.
• Demonstratable professional experience in leveraged finance, structured/securitised products, CLO management, private debt or credit portfolio management, acquired within a bank, asset manager or CLO manager.
• Proven credit analysis skills: including analysis of corporates’ financial data and the ability to quickly assess the credit quality of leveraged-loan issuers across a variety of sectors, including forming a rating view.
• Familiarity with CLO / warehouse mechanics – eligibility criteria, concentration limits, borrowing base, portfolio quality tests – and with collateral reconciliation and reporting.
• Strong analytical skills and attention to detail, with the ability to synthesise information quickly and propose effective, well-controlled solutions. You should be able to translate technical credit and structuring concepts, provide specialist guidance and advice to others, and construct a clear, well-supported point of view and market conviction on individual names and portfolios.
• Excellent written and oral English to ensure precise and effective communication with clients and colleagues.
• Advanced Excel skills; experience with external tools (e.g. Bloomberg, Intex, Dealogic) is an advantage. Good knowledge of standard software and hands-on experience of investment-banking and portfolio data tools is valued.
• A collaborative, entrepreneurial and multi-tasking mindset, comfortable operating with autonomy and judgement in a fast-paced, growing and international environment. Strong stakeholder and people-management skills are important to ensure the delivery of timely, commercial and well-controlled solutions for the business and its clients.
• Good working knowledge of a wide range of company-wide policies, procedures, regulations and legislation and of Global Banking processes within your area of specialism.

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). 

WHY JOIN BNP PARIBAS?

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 

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 

READY TO MAKE A DIFFERENCE?

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. 

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.

Recruitment Process

We do not use artificial intelligence for CV screening; all applications are reviewed manually by our hiring team. The recruitment process may include video or in person interviews, and any relevant assessments deemed necessary.

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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