Analyst - EQD P&L Controller
About BNP Paribas:
BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 74 countries, with more than 192,000 employees, including more than 146,000 in Europe. The Group has key positions in its three main activities: Domestic Markets and 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. The Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realize their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP Paribas Personal Finance is the leader in consumer lending. BNP Paribas is rolling out its integrated retail-banking model in Mediterranean countries, in Turkey, in Eastern Europe and a large network in the western part of the United States. In its Corporate & Institutional Banking and International Financial Services activities, BNP Paribas also enjoys top positions in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific.
Business Overview:
The Equity Derivatives business has a substantial trading presence in Asia, Europe, and New York. This position is for a P&L controller supporting and controlling these businesses in New York. The selected candidate will be part of the Global Markets P/L team which produces daily P/Ls and Explains for dedicated trading desks.
The role will encompass daily P&L responsibilities and the successful candidate will need to fully understand and explain the key P&L drivers. The individual will be required to establish effective working relationships with both Front Office and other areas of support. (E.g. Trade Support, VR&C, Market Risk, Finance & IT) - allowing for an integrated and proactive approach to the business’ requirements, understanding the lifecycles of the products traded and the systems and reporting mechanisms required to enable full control and accurate and appropriate information to be supplied. The Individual will join a “split team” organization with team members located in both Montreal and New York City, under a functional management located in New York.
Responsibilities:
- Prepare daily and monthly management revenues for the EQD activity
- Perform analysis and reporting of daily P&L with detailed Greek breakdown for multiple products including futures, options, equities, variance & correlation Swaps, interest rated derivatives, and structured products.
- Reconcile front office estimates to official PnL
- Provide commentary on PnL using analytical tools
- Work with front office and trade support part of the middle office to resolve operational and booking issues
- Work with front office, market risk, and V&RC to finalize month end PnL validating Map and Reserves at the trading book level
- Collaborate with Risk to evaluate and explain cash and PV movements above established thresholds to facilitate risk reporting
- Responsibilities Cont’d:
- Ensure the pricing configuration complies with trading strategy and internal controls, collaboration with V&RC and Risk required to enforce consistency
- Substantiate and contribute to the resolution of Back office ledger vs. P&L systems cash breaks on a daily basis
- Ensure the MTD management P&Ls are consistent with the final end of month general ledger P&L
- Participate in business development initiatives across BNP Paribas support functions and locations
- Lead new systems deployment which is not limited to being part of TAC/NAC, gathering requirements, testing UAT database, ensuring results match expectations and reporting impacts
- Discuss and review trading P&Ls with management
- Liaise with trading floor personnel and ensure a satisfactory resolution of all FO inquiries
- Interact with Operations functions and other infrastructure groups to support a ‘one team approach’
- Manage deadlines and objectives
- Ensure timely and efficient dissemination of data and the resolution of inquiries
- Identify and escalate time / risk sensitive issues to the team supervisor
- Cohesively explain and maintain own position, logically, in light of differing views
- Focus on the needs of the business
- Act with integrity, accepting responsibility for actions
- Recognize opportunities for creativity and development of processes
- Ensure the business area conducts its activity in accordance with all relevant external regulators and internal policies.
Minimum Required Qualifications
- Bachelor’s degree
- 1 plus year of previous experience in P&L Control, Financial Control, or a Middle Office environment
- 1 plus year of experience in financial markets with an emphasis on Equities
Preferred Qualifications:
- Graduate degree in Finance, Math or Engineering or other quantitative disciplines
- Working Knowledge of the following products: Equities, Futures, Options, equity swaps, variance swaps, dispersion swaps, interest rate swaps, and structured notes
- Knowledgeable of the Greeks
- Working knowledge of Programming languages such as VBA, SQL & Python
- Experience in pricing, valuation or hedging of derivatives
- Superior attention to detail and accuracy
- Strong interpersonal and communication skills a must
- Ability to work in a fast paced environment and part of a team in a “split team” organization
- Strong Excel & PC skills with proven ability to work with multiple systems
- Display good relationship qualities, team spirit, and ability to work across teams
FINRA Registrations Required:
- None Applicable
BNP Paribas is committed to providing a work environment that fosters diversity, inclusion, and equal employment opportunity without regard to race, color, gender, age, creed, sex, religion, national origin, disability (physical or mental), marital status, citizenship, ancestry, sexual orientation, gender identity and gender expression, or any other legally protected status.