G10 Rates Options Trader

Job description

Bank Overview
BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 73 countries, with more than 196,000 employees, including around 149,000 in Europe. The Group has key positions in its three main activities: Domestic Markets, International Financial Services (whose retail-banking networks and financial services are covered by Retail Banking & Services) and Corporate & Institutional Banking, which serves two client franchises: corporate clients and institutional investors.
BNP Paribas Corporate and Institutional Banking is a globally recognised leader offering capital markets, securities services, financing, treasury and advisory solutions.

Business Area/Dept 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 organizations.

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. Their global network comprises more than 1,700 professionals working on our six main trading floors in London, Hong Kong, New York, Paris, Singapore and Tokyo. They are supported by regional offices throughout Europe, the Americas, Middle East and AsiaPacific.

Purpose & Scope of role
• Market making vanilla EUR rate options : all client pricing, book risk management
• Participate in the improvement of the set-up (risk monitoring, industrialisation, automatisation)
• Backup EUR gamma book

Key Responsibilities of role
Market making, operating with limited supervision from line management:
• To provide market liquidity through market making and put in place hedging if appropriate
• To monitor market news, events and evaluate the risk and opportunities for positions and strategy according to the overall desk strategy
• To book transactions, monitor, conduct follow-ups with Middle Office and Back office.
• To ensure robust risk management with a focus on risk assessment and compliance with regulatory policies.
To work with sales and structurers, where appropriate, to develop customer order flow and trade ideas that meet specific client requirements.

Desired profile

Qualifications :

Experience, Qualifications & Competencies
• Proven demonstrable experience in swaptions market making

COMPETENCIES
Business Skills :

Proficient level Market, Product & Business
• Promotes his/her market and area of expertise inside and outside the Bank. Analyses opportunities and likely risk/return, identifies mitigation strategies and trade-offs. Identifies and transforms client and/or market opportunities into revenues. Has the courage to grasp market opportunities when they arise. Has an effective relationship with Sales, Structuring and Research, and engages in discussions with them on market conditions and trends
• Continuously develops insight and expertise into his/her market and products; is genuinely interested in financial markets. Evidences a sound appreciation of market dynamics, including short and long-term flows, themes, regulations, applications, players, consensus trades, risk appetite, liquidity, models and technology that drive the market, to form a personal view on market conditions and trends. Understands the internal set-up of the Bank and its business model, and how it compares with its competitors
• Prices transactions within his/her perimeter in an accurate and diligent manner, properly assessing market liquidity, hedging cost, risk management slippage, funding and balance sheet usage. Is a market maker: creates pricing taking into consideration the Bank’s franchise, including the overall relationship of the Bank with the clients. Is a position taker and decision maker: is not married to positions, has the discipline and rigor to assess risk/reward positions and adjust strategy accordingly. Participates actively in large transactions, including those where execution risk is material due to their complexity, model dependency or magnitude. Leverages information to promote trade ideas Business risk
• Demonstrates a good awareness of risk and fundamental risk concepts. Always considers risk in his/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 he/ she managers. Focuses on trades with the right profitability and risk/reward balance. Complies with local laws, Stock Exchange rules and demonstrates market integrity
• Disciplined attitude to active risk management skills. 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

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

Professional clients
• Extensive knowledge of professional clients, main profiles, needs, and relevant products and services for professional clients
• Participates in building a sustainable client franchise

Behaviour Skills :

Ability to deliver / Results driven
• Delivers tasks/projects on time, with qualitative results. Is able to redefine activities according to priorities.
• Acts with tenacity.
• Is able to identify solutions to overcome obstacles and drive results to conclusion.
• Identifies opportunities to initiate new deliverables or improve existing deliverables to achieve the objectives set. Where relevant, works autonomously, implementing work processes, ideas and solutions.

Adaptability
• Works harmoniously in different environments, on various tasks and jobs and with different responsibilities and individuals.
• Is open to change, detects situations/circumstances that require adaptation, easily adapts to changing circumstances and supports others to facilitate required adaptation.
• Formulates personal learning and development goals and rapidly learns from experiences. Shows curiosity to learn more about topics outside their immediate scope.
• Is a role model in the ability to quickly adapt their behaviour, style, approach, priorities, communication or working methods according to the needs of the task, indi-vidual/group, situation, constraints and circumstances. Critical thinking
• Questions existing models and procedures; challenges the status quo; steps out of existing limitations, concepts and models and develops solutions that make a difference.
• Gives their opinion based on sound review of all relevant issues and objective arguments.

Communication skills - oral & written
• Is an effective communicator, who can delivers complex and clear information or messages, both oral or written
• 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. Communicates pro-actively with management when facing difficulties.
• Is capable of influencing and convincing others to gain acceptance of an idea, an activity or a product
• Uses non verbal communication where appropriate.
• Is able to balance listening and talking to foster a productive dialogue.

Ability to collaborate / team work
• Team player & cross cultural awareness - Develops ambitious team goals. Actively collaborates and shares ideas, information flows, client knowledge, trading, modelling, risk management and product expertise with colleagues

Transversal skills :

Analytical Ability
• Handles information, recognises links, identifies trends, similarities or differences, translates the information into relevant analyses and interprets them to establish a diagnostic.
• Is able to identify the root causes of a problem.
• Is able to interpret available data and identify various conclusions.
• Evaluates the consequences of solutions or actions on people, systems and the organisation with precision and accuracy.

Ability to anticipate business / strategic evolution
• Puts forward ideas for the direction and development of the organisation.
• Anticipates changes in the internal and external environment and anticipates internal and external developments of the company or business area..

Ability to develop and leverage networks
• Capable of developing and maintains a broad network of relationships within, as well as outside, the company - includes partners, suppliers or clients.

Ability to develop and adapt a process
• Able to develop new processes or adapt existing processes

Ability to set up relevant performance indicators
• Participates in identifying/producing various performance indicators and improves existing ones. Closely monitors and controls these indicators to ensure their relevance and reliability. Produces synthesis, analysis and reporting adapted to the target objectives.

Personal Skills :

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.