Secondary Trade Support Officer – Equity Derivatives
- Standard / Permanent
- PROJECT & TRANSFORMATION MANAGEMENT
About the job
The Secondary Exotic Trade Support Team (SE POS) and ETS is in charge of secondary events like increases, unwinds, early expiries or any coupon payment throughout the life cycle of the trade as well as increases of issuances amounts or Corporate Action events. The team has a strong operational risk and management approach on multiple European Trading desks and works closely with trading on a daily basis to guarantee the correct booking of all positions, cash flows and respective PNL.
Its main missions are:
- Control and manage all Secondary Transactions and ensure each position and trade are correct so that the amount hedged by Front Office is in line
- Increase/unwind existing positions and guarantee all information is clear and transparent
- Smoothen the process of flowing information throughout the remaining teams within the bank
- Daily control of position changes and closely follow updates on existing secondary trades
Your Main Activities Are
- Secondary Trade Support is asked to intervene on positions at the request of FO or in some cases PCA. These requests must be considered from a critical angle, considering the fact that they will impact the position in place. In particular, it is recalled that any modification or cancellation of a transaction beyond T + 2 – on the initiative of a trader – must be duly explained in writing and the trader’s management must be informed. Trade Support should at all times exercise a critical sense of the explanations provided.
- Like all operations members, Trade Support implements the necessary elements to:
- Minimize operational risks and fraud risks by putting in place the regular and sufficient controls inherent to its position (reporting to relevant teams when needed)
- Escalate to his management, the management of the Front Office and / or permanent control the problems identified
- The main goal of Secondary Trade Support is to guarantee traders their transactions and related events on the different products they hold in their portfolio:
- Guarantee Trading Transactions in Front / Operations Systems
- The Middle Office guarantees trading transactions on exotic products and primary operations by comparing the operations received from FO in secondary systems (Exocet) with those retrieved by operations. The goal is to correct within a timely manner the differences that may appear due to system errors, input errors or information loss
- Update Middle Databases
- Following updates in the intrinsic data of a trade such as an UF, a counterparty modification or a maturity change, Secondary MO will update the respective systems that feed these informations for the remaining teams within the bank
- Promote an effective dialogue between the Front Office and the other control teams
- Guarantee Trading Transactions in Front / Operations Systems
- Trade Support must develop an effective dialogue between the various Front Office teams and the other control teams by:
- Knowing how to manage priorities and how to retrieve all relevant information to FO,
- Work closely with Trading, to analyse together any price differences or errors of seizures found
- Replying to PCA’s analysis of reconciliations between Operations and TF
- Acting as a “filter” between the other Operations teams and the Front Office
Profile and Skills to Success
- University Degree (Financial background)
- Good English level
- Should have knowledgement of Financial markets, OTC Derivatives and Swap lifecycle
- Knowledge of Excel
- Good teamwork skills
- Attention to detail
- Ability to solve problems
Why joining BNP Paribas?
· Leading banking institution
BNP Paribas is a leader in the Eurozone, and a prominent international banking institution with strong roots in Europe’s banking history. It has a presence in 65 countries, with around 190 000 Employees – including more than 145 000 in Europe.
· Our presence in Portugal
Since 1985, BNP Paribas was one of the first foreign banks to operate in the country. Today, the Group has around 7.100 employees across several entities operating directly in the territory, offering a wide range of integrated financial solutions to support its clients and their businesses.
· International reach
Thanks to its international presence and regular and close collaboration among its different entities, BNP Paribas has the resources to support all clients with financing, investment, savings and protection solutions that help make their projects a success. BNP Paribas holds key positions in its three core operating divisions:
- Retail Banking, a division that brings together all of the Group’s retail activities and specialised business lines;
- Investment & Protection Services that include specialised businesses offering a wide range of savings, investment and protection services;
- Corporate & Institutional Banking division that offers tailored financial solutions for corporate and institutional clients.
· Diversity and Inclusion commitment
BNP Paribas is an equal opportunity employer and proud to provide equal employment opportunity to all job seekers. We are actively committed to ensuring that no individual is discriminated against on the grounds of age, disability, gender reassignment, marriage or civil partnership status, pregnancy and maternity/paternity, race, religion or belief, sex or sexual orientation. Equity and diversity are at the core of our recruitment policy because we believe that they foster creativity and efficiency, which in turn increase performance and productivity. We strive to reflect the society we live in, while keeping with the image of our clients.
· Commitment towards work/life balance
At BNP Paribas we care about our employees wellbeing and promote a culture of good integration between work and rest. We believe our employees have rich personal lives outside of work, being fundamental to be disconnected from work to recharge both physically and mentally. Only through this balance we may all be at our best while working.
· Remote Working Conditions
At BNP Paribas, we embrace a Smart Working framework based on trust, autonomy and collaboration. Within this framework, eligible employees can benefit from flexible remote working modalities adapted to our hybrid working environment. To guarantee a comfortable and efficient working set-up, eligible employees are provided with both the office and home equipment, are entitled to an equipment allowance and can benefit from exclusive partnerships to purchase additional equipment at reduced prices.
To find out more on why you should join BNP Paribas visit https://bnpp.lk/why-BNP-Paribas-Portugal
* Please note that only applications submitted in English will be considered.
* In case you are selected for this role, further documentation will be requested to support your hiring process.