Head of EGB Asset Swaps Trading – Director

Business Area / Department Overview

BNP Paribas' Global Markets business offers a broad range of products and services in the global interest rates, credit, currency, equities & commodity markets. Global Markets help their franchise of clients find effective ways to raise and invest capital as well as manage their exposure to risk. Their client base comprises of hundreds of corporations, institutional investors, banks, governments and supranational organisations.

Global Markets has the scale and reach to conduct business anywhere in the world and deliver products denominated in almost all of the world's currencies.

FICC is a leading global franchise servicing Institutional and Corporate clients from credit origination and syndication, to secondary market trading on credit, FX, rates and commodities in both developed and emerging markets.

Job Purpose

Purpose:

Global Markets encompasses seven global business lines including G10 Rates. Our purpose is to help our franchise of clients find effective ways to manage their exposure to risk and execute transactions at a fair price.

Scope:

Senior Trader in charge of market making of asset swaps for EGBs, block trades for Bond futures and X Country spreads.

Manager of a trading team (EGB ASW Trading).

Reporting to Head of Desk, Market-Maker operating autonomously with responsibility to report and escalate to line management and managing day-to-day with high level of expertise in the product she is responsible for:

• Monitor the aggregated risk and P&L, adhere to relevant trading limits and escalate any unexplained elements for sign off.
• Promote the firm's brand, products and services to new and existing clients for long dated Italy & Spain and Portugal
• Working with sales colleagues, play a role in developing new and innovative products and services to meet client requirements.
• Develop the skills of the junior team trader(s).
• Monitor market news and events and evaluate the risk and opportunities for clients and the firm's positions and strategy,
• Ensures that annual revenue budgets are achieved,
• Contributes to franchise development by enhanced cooperation between trading, sales and DCM,
• Ensures conduct and compliance of the team with all existing and future regulatory policies,
• Supervises and ensures training & development of an early career trader,
• Lead the expansion of the whole franchise (CT100 clients, relationships with UK DMO) by facilitating communication and cooperation within the trading group and with all relevant parties:
• Other European Traders,
• Sales.
• Structuring,
• DCM.
• Contributes to technical development of the G10 Rates platform in order to maintain/reinforce competitive advantage,
• Contributes to management/optimization of financial resources ﴾ GSIB,BS, Capital, Liquidity﴿.

Direct contribution to BNPP operational permanent control framework.

EXPERIENCE

• Significant experience in a similar role
• A consistent track history of profitability

Market, Product & Business

• Continuously develops insight and expertise into his/her market and products; is genuinely interested in financial markets. Demonstrates a strong appreciation of economics and market dynamics, with broad enough understanding to form opinions and present personal views on market conditions and trends
• Is a market maker: uses understanding of flow, market psychology, liquidity, relative value and correlation between hedge instruments, together with pro-activity and skills, to actively market-make products to clients and in the broker market. Position taker and decision maker: is a role model in demonstrating discipline and rigor when assessing risk/reward and managing his/her position. Actively participates in strategic transactions, where execution risk is material due to their complexity, potential model dependency or magnitude of their market risk. Leverages information to promote trade ideas, including ideas bespoke to specific client needs.
• Actively promotes his/her market and area of expertise inside and outside the Bank. Develops innovative models, tools and techniques, in order to give the Bank a competitive advantage. Leverages experience and perspective, anticipates changes; provides new ideas and solutions to senior management. Works collaboratively with Sales, Structuring and Research to identify business opportunities, and transform them into revenues Grasps market opportunities when they arise. Is instrumental in building strong relationships with key internal stakeholders (including Risk and Compliance)

Business risk
* Demonstrates a good awareness of risk and fundamental risk concepts. Always considers risk in her daily activities and abides by the Key Front Officer Responsibilities and Guidelines. Uses technical skills, critical thinking and discipline to identify, understand and assess the risks of his/her book(s).Understands the market, credit, operational, compliance, legal, regulatory and reputational risks of transactions she managers. Focuses on trades with the right profitability and risk/reward balance. Complies with local laws, Stock Exchange rules and demonstrates market integrity

Conduct

• Corporate role model, integrity & ethics - Acts with discipline and high ethical standards
• 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, partners and clients before making decisions, and escalate issues to your manager when unsure
• Take responsibility for your team's conduct and conduct risks'

Compliance knowledge
* Global knowledge of compliance, its major processes or regulatory framework

Professional clients
* Knowledge of professional clients, main profiles, needs, and relevant products and services for professional clients

Leadership and management skills:

• Create a positive dynamic with Salesforce and DCM to achieve our ambitious target,
• Listen to the traders, create positive incentives to keep them motivated and focus on the implementation of the strategy,
• Lead by example,Take responsibility for the team's actions
• No discontinuity in term of position, PnL and sales/clients servicing for all the activities of the group
• Improve communication within the team,
• Speak about ALL products when visiting clients.

Ability to deliver / Results driven

• Proactively identifies areas of development, improvement or ways to maximise results and takes initiative to implement relevant actions, in the short and long term.
• Where relevant, works proactively and autonomously, implementing work processes, ideas and solutions, including in situations where information is missing or unusual.

Adaptability

• Is a key player in facilitating and helping others to adapt and implement changes.
• Seeks and creates learning opportunities for themselves to continuously develop and learn from, with others, both internally and from the wider industry.

Critical thinking
* Sees the big picture. Identifies relationships that underline complicated situations, identifies areas of improvement or problems to be solved, as well as more subtle influences and variables often missed by others.

Communication skills - oral & written

• Is an effective communicator, who can present or skilfully communicate complex ideas, strategic and critical messages or ideas to large, culturally diverse and unfamiliar audiences, including in conflicting situations, both across and throughout the hierarchy and/or the top management.
• Can adapt the message appropriately according to the communication modes & referential systems of the audience/target, in a balanced and timely manner and in line with business/strategic interests. Escalating issues as necessary.
• Uses non verbal communication where appropriate.
• Is able to balance listening and talking to foster a productive dialogue.
• Shows confidence when presenting and answers challenging questions.

Ability to collaborate / team work

• Works towards developing team goals above their own, supporting team members and acting to suppress self-related constraints. Is a facilitator who unites and creates synergies
• Sees the big picture and understands the interdependence between their activity and other individuals, teams and functions.
• Appreciates, embraces and capitalises on workplace diversity and the various viewpoints and contributions from different nationalities, cultures, backgrounds, gender, age groups, and additional categories protected by the law

Analytical Ability

• Objectively reviews and connects all the relevant information and associated elements related to their work, from multiple angles, and finds appropriate solutions.
• Actively seeks out and monitors critical industry information and activities inside and outside the organisation and integrates this into their activities.
• Handles multiple and complex reports/information sources. Is able to rapidly analyse incomplete information to enable decision-making.

Ability to anticipate business / strategic evolution

• Defines business/strategic objectives, ensuring their consistency and the direction to follow, strengthens the company's market position and influences its strategic decisions based on a clear, well thought out view of the future.
• Gives a clear and relevant view of the company's strategy, challenges and targets to others.

Ability to develop and leverage networks
* Has developed and proactively maintains a broad network of relationships within, as well as outside, the company - both within the industry and beyond. Is able to easily and quickly identify people to contact to deal with a wide range of topics.

Ability to develop and adapt a process

• Able to develop complex processes with a high-added value to the organisation, with impact on a wide range of people/activities. Has full knowledge and a end-to-end view of one or multiple processes.
• Is recognised by their peers as a process owner/expert.

Ability to set up relevant performance indicators

• Develops and adapts performance indicators according to business needs.
• Anticipates and addresses biases in performance indicators.
• Ensures the global consistency and relevance of reporting to articulate and explains gaps in performance

Diligence
* Displays dedication & prioritises problems by considering the impact on the business; identifies quick-wins

Resilience

• Stays calm and positive, controls his/her emotions in conflict or any situation of intense stress (due to market, time or client pressure).
• Ability to undertake a number of issues simultaneously is essential as well as the ability to work under considerable pressure
• Passion, tenacity and resilience in an ever changing environment

Innovation
* Thinks laterally to identify other sources of useful information and sees ways around obstacles and barriers.