Graduate Market Risk Analyst Programme London 2022

BNP Paribas has a presence in 75 countries with more than 185,000 employees, including 145,000 in Europe. It ranks highly in its two core activities: Retail Banking & Services and Corporate & Institutional Banking.

In its Corporate & Institutional Banking and International Financial Services activities, BNP Paribas also enjoys top positions in Europe, a strong presence in the Americas and solid and fast-growing businesses in Asia-Pacific. The bank is a global leader in Debt Capital Markets and Derivatives. It is a top European house in Equity Capital Markets and it has leading franchises in Specialized Financing. In Securities Services, it is a top five House worldwide. BNP Paribas CIB strives to service the global economy by providing solutions to its clients in financing (ECM, DCM, specialized financing), flow banking (trade finance and cash management), financial advisory (M&A, project finance), global markets (interest rates, credit, foreign exchange, equity derivatives), risk management, and securities services.

Strong risk management, combined with the stability that comes from being part of one of the largest banking groups in the world, underpin our success. Joining us, you will become an integral part of a dynamic team that spans nationalities, cultures and backgrounds, drawing together people from around the globe and reflecting our commitment to international placements.

Department overview

In many respects, banking is the business of managing risks. At BNP Paribas, our well-developed Risk management culture is based on a long-term perspective, a committed management, and a strong and independent risk organization led by RISK.

Created at the same time as BNP Paribas, RISK is today a global function present in five continents and at the forefront of Risk management through best-in-class expertise. RISK is a global, integrated, and independent function, covering all Business Lines and encompassing the whole chain of risk-taking. Main missions are:

• Advise the Bank Management on the definition of risk policy;
• Contribute as a “second pair of eyes” to ensure that risks taken by the Bank are aligned with its policies;
• Report and Alert Bank Management on the status of risks to which the Bank is exposed.

The main mission of the Market, Counterparty, Liquidity Portfolio Analysis and Capital Team (MCL PAC), a fully integrated team within RISK in constant contact with all the teams in the department, is to provide General Management, CIB and RISK with a global independent view and added-value analysis of key risks related to Market, Counterparty, Liquidity and Equity risks, supporting optimal decision-making.

MCL PAC is organized in three dedicated teams, reflecting the three interlinked areas of responsibilities:

• Management Information framework (MCL PAC MI)
• Capital framework (MCL PAC Capital)
• Capital Markets Stress Testing framework and Regulatory Measures (MCL PAC ST&RM)

Based in London, Paris, Brussels, and New York, the analysts of the MCL PAC “Management Information” team are responsible for the weekly consolidation of all the market and counterparty risks of the BNP Paribas group by activity: Rates, Forex and Commodity Derivatives, Credit and Equity Derivatives. This analytical consolidation is used as a basis for Senior Management’s (both front office and RISK function) discussions and for the disclosure of risk information to the Regulators (ACPR, ECB, etc).

In addition, the analysts of the team produce, for the consideration of the General Management, analysis and studies on various issues related to market, counterparty risks. As part of his remit, the team will work to make sure that the risk capture, calculation, analysis and reporting processes, as well as the related controls, work in a way to support the effective functioning of the risk reporting framework.

Position

The MCL PAC team are seeking to hire a Graduate market risk analyst to cover the Rates, FX and Commodities activity within the MI stream. The position is based in London and reports to the Head of MCL PAC Market Risk MI London.

Preferred background

• Master’s degree graduate

The main tasks of the role will be

• Preparation and in-depth analysis of risk information concerning the Market Risks generated by Rates, FX and Commodities trading activities in all BNPP locations. This includes data collection, data validation, report prototyping as well as identification and appropriate analysis of key risks, trends and development of BNPP portfolios.

• Participation in the weekly summary of the market risks of the G10 Rates and FXLM and Commodities desks. This synthesis for Trading Management includes specific analysis to be implemented (particular market configuration, strategy changes, new structured products, etc.).  
• Contribution on related topics to the production of the monthly “Financial Market Risk Committee” (FMRC) documentation, which is presented and discussed with the Senior Management of the Group.
• Participation in the execution of “deep dives” on market risks related to trading strategies or complex structures / specific transaction.
• Stress testing (production of results and platform development) and related regulatory reporting contributions (e.g. EBA stress test).
• Participation in the drafting of market notes/updates in order to highlight the major associated risks.
• Development and enhancement of risk analysis tools.

During their mission, the graduate will have the opportunity to develop the following:

• Understanding the risks inherent in each financial product
• Understanding the various systemic and structural risks underlying a portfolio of assets
• Macroeconomic understanding of financial markets
• Get a cross-sectional view of the different activities of an investment bank

Skills required for the role

• A good understanding of Fixed Income derivatives is essential for the role. The candidate is expected to have a core appreciation and understanding of the fundamentals of the main categories of derivatives and associated risks, as an experience with simulation models.
• Ability to synthesize large amounts of diverse information at any one time, to identify emerging risks or weak signals and to effectively track data quality issues.
• The candidate will be expected to have a general all-round IT competence. Knowledge of Microsoft Office / Excel is required. Exposure to other programming languages desirable, in particular Python, VBA or R.
• Good verbal and written communication skills (English language) are an absolute requirement, due to the need to establish and maintain contacts and information flow with people from different entities, beyond the market activities perimeter.
• Strong delivery focus as strict deadlines are to be respected and limited time is available to collect, analyse and synthesise risk information while maintaining a controlled environment.
• The candidate should be able to organise tasks in project mode and be able to ensure their timely progress.