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

RISK MFI – Counterparty Risk Team covers the all the below:

• Counterparty risks generated by any corporate, financial (incl. market infrastructure) or sovereign counterparty.
• Collateral risks generated by Global Markets

Job Purpose

The Intern position is available within Counterparty Risk team, part of RISK MFI Analysis & Decisions, based in London. RISK MFI Analysis & Decisions is part of the RISK Function within BNP Paribas.

Main Responsibilities

• Analysis and monitoring of counterparty risk exposures on selected names or portfolios, by:
  • Understanding the origin of the exposures (specific trades, products),
  • Designing, in close coordination with Market Risk and credit officers, of relevant risk measurement methods and stress testing, under both internal and regulatory context
  • Aggregating and monitoring, in coordination with Market Risk, across products and Business Units market risk sensitivities by counterparty, hence providing a transversal view
  • Be the central point of contact with credit officers (corporate, FIs and HFs) and support them by providing relevant analysis and organising dedicated forums.
  • Define and maintain complex overrides, on the global scope of counterparties, for exotic products
  • Review and analyses, from counterparty risk point of view all complex transactions
  • Be the central point of contact for collateral within RISK:
    • Define and maintain eligible collateral policies and organise collateral processes
    • Issue recommendation to RISK Credit Officers for non-standard collateral exceptional requests.
    • Define and monitor the collateral portfolio and concentration envelopes.
    • Define and monitor the adequate stress test
    • Define and validate the specific risk framework for Prime Brokerage activities
    • Analysis & monitoring of Economic and Regulatory Measures – including Stress Testing – linked to Counterparty Credit Risk on the global scope of counterparties
• Perform analysis on BNP Paribas’ risk by counterparty type (Hedge Fund/non-Hedge Fund), by group/asset manager or by sector. This analysis is done at activity level (OTC/PB/DEC) or across activities. Analysis is generally focused on stress testing and liquidity of the underlying markets.
• Perform analysis on BNP Paribas’ collateral positions coming from VM/IM or Financing activities (SLAB/Repo/TRS). Continuous monitoring and analysis of the underlying collateral risk is required, i.e. quality, valuation, concentration & liquidity. Also, be on top of regulatory changes related to it (e.g. BIM).
• Present the outcome of this analysis in dedicated forums (main position meetings) to the front office or the management of the RISK department. The analyst will summarise the main risk drivers, provide an opinion of the risks taken.
• The analyst will interact closely with Market Risk teams as well as traders/sales and T2RS/S&R teams to understand the materiality of the exposure and intricacies of certain types of transactions. Participate to discussions between Risk and Business to define actions to align exposures with current risk appetite levels.
• Contribute proactively to the development of analysis tools. Innovation within the team and challenge existing processes and methodologies.
• The analyst will identify main counterparty risk drivers based on market risk sensitivities analysis combined with knowledge of counterparty risk metrics and methodologies. To follow sensitivity analysis and stress tests of the portfolio.

Requirements

• Excellent analytical, IT and quantitative skills to extract and aggregate promptly risk at the required level with a critical eye on quality of data. Ability to manipulate large amounts of data essential. Solid technical skills including
  • Market VaR and Greeks
  • Collateral operations and legal agreements (CSA terms)
  • Stress testing
  • Initial margin models and calculations
  • Counterparty credit risk exposure models
• Knowledge of Python/R
• Basic understanding of structure of capital markets
• Understanding of different risk metrics and their respective merits and caveats for market and counterparty risk. Knowledge of the below counterparty risk aspects:
• Ability to react quickly but precisely in high pressure trading situations with Front Office interactions.
• Strong interpersonal and communication skills (written and verbal) to further build the business / risk relationship and to clearly and concisely report the risk in a jargon-free way. Ability to work in a team and interact with multiple stakeholders of different technical backgrounds.

Interactions

The analyst will interact with Traders and Sales teams, other RISK teams as well as IT teams, Front-Office Risk teams such as T2RS Team (Trading and Risk Strategy) and Strategy & Risk Teams.

Conduct

• Be a role model, supporting and fostering a culture of good conduct.
• Demonstrate proactivity, transparency, and accountability for identifying and managing conduct risks.
• Consider the implications of your actions on colleagues.
• 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).

Please Note

• You may only apply to four Long Term Internships over the course of a year. These may be across any business area.
• Successful candidates for this long term internship will be considered for London ONLY.
• Please discuss the available start dates with your interviewers.
• Unsuccessful candidates’ CVs will be shared with other teams within BNP Paribas and considered for potentially suitable roles. In this way we hope to maximise opportunities for candidates and hiring teams. By submitting your CV for this role you agree to it being shared securely with other hiring teams within BNP Paribas for the relevant recruitment round.

Benefits

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

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