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Head of Execution Desk Full-time

de BNP Paribas em Lisboa (Publicado em 02-06-2020)

BNP Paribas is a leading European bank with an international reach. It has a presence in 72 countries, with more than 202,000 Employees ? including more than 154,000 in Europe and over 5,000 in Portugal alone.


BNP Paribas is present in Portugal since 1985, having been one of the first foreign banks to operate in the country. Today, BNP Paribas has several entities operating directly in this territory, offering a wide range of integrated financial solutions to support its clients and their businesses.

Worldwide, 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, corporate and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance.


As a leading global private bank, we deliver a tailor-made experience, with outstanding attention to detail along with precise, local knowledge backed by the global know-how of a worldwide banking group. With a strong presence of almost 7.000 employees working in Europe, Asia and the United States and ?393 billion of assets under management as of December 2019, BNP Paribas Wealth Management (?WM?) is a global leader of the Private Banking industry.


Since 2015, BNP Paribas Wealth Management has a competences center in Lisbon named the Portugal International Markets Hub (?PIMH?). This center manages certain activities for the International Markets (?IM?) sites of BNPPWM namely Switzerland, Luxembourg, Germany and Monaco.


We are currently reinforcing this team and are looking for a:


Head of BNPP WM PIMH Execution Desk


1) Team


BNP Paribas Wealth Management PIMH Execution Desk (?the PIMH Execution Desk?, ?the team?) is in charge of executing, on the various authorised markets where the Bank operates, orders from Wealth Management clients on the following instruments:


  • Equities & ETF (>50?000 transactions annually),


  • Bonds (~20?000 transactions annually),


  • Listed derivatives (~15?000 transactions annually),


  • To a lesser extent, vanilla equity OTC derivatives (validated only for a couple of clients).


    The team services private clients from different BNP Paribas WM entities that are of BNPP WM International Markets (Switzerland, Luxembourg, Monaco, Germany, Dubai & Spain). The team operates on an 8:00-22:30 CET rolling basis. Some sophisticated clients have a direct access to the Execution desk to place orders directly with a Trader, usually by phone (?Direct Access Clients?). The team operates on all majors markets (Asia, North and South America, Europe, etc.).

    The team also includes structured products (SP) traders ? the execution of SP orders being split between Switzerland, Luxembourg and the PIMH Execution Desk (~3?000 transactions annually).


    The PIMH Execution desk doesn?t execute FX-related orders (those are executed by BNPP WM IM entities). Orders for funds are executed by a separate execution team located within PIMH.


    From a functional reporting point of view, the team is part of a broader, multi-asset execution desk within BNP Paribas (Suisse) SA (BNPPS) ?Products & Services? department.


    2) Mission


  • Contribute to building BNPP PIMH Execution Desk in Portugal, which notably includes: hiring of strong candidates, contribution to systems? build-up & coordination of parallel run period.


  • Manage a team of dealers


    • Equities, ETFs, bonds and derivatives dealers,


    • Structured products dealers ? with functional reporting on the head of BNPP WM IM structured products (located in Switzerland).


  • Make sure the team / each dealer provides high quality service on execution of orders on equities, bonds, ETF, listed derivatives, structured products (and vanilla equity OTC derivatives for a limited number of clients) for BNPP WM IM clients .

  • Ensure monitoring of transactions? processing and related risks involved in execution activities. Represent the Bank in meetings with Brokers, technology providers, internal departments and, as the case may be, with clients.


  • Be the primary link between PIMH execution teams (located in Portugal) and BNPPS Products & Services management, located in Switzerland.

    3) Main tasks


    Management & reporting:


  • Contribute to the hiring and training of dealers of various seniority to form the team.


  • Manage a team of dealers.


  • Report issues and trading errors to local management (Portugal) & Product & Services teams? management (Switzerland).


  • Organise relevant meetings with Swiss management; create and send business review documentation to Swiss management, notably those required by SLAs and based on predetermined KPIs.


    Execution:


  • Make sure that orders for the Bank?s clients are executed within applicable laws and regulation (best execution, internal procedures, code of conduct, work ethics, etc.). Be the major stakeholder in terms of best execution for equities, ETF, bonds and listed derivatives. Coordinate best execution on structured products with the head of BNPP WM IM structured products.

  • Ensure that all traded products are approved products for the Bank, and that transactions are executed with approved Brokers.

  • Know and apply relevant procedures in case of operational errors. Log all operational errors made by the desk in a single database and regularly and proactively report about errors to local & Swiss management.


  • Ensure transaction control and execution of orders from Direct Access Clients.


    Organisation, IT & setup:


  • Organise and contribute to the night desk coverage for North American markets.


  • Organise and contribute to dealing coverage on selected local bank holidays, in order to ensure the desk?s execution ability on open markets.


  • Manage the search for and selection of execution brokers.

  • Be the major force behind increased automatisation of order flows ? from order taking to settlement and accounting, focusing on the potential replacement of the Bank?s OMS (Predator).


  • Centralise and follow up on all major IT topics related to execution: notably, know and share (1) the long-term vision related to execution tools IT developments and (2) the current state of execution tools, including open bugs and associated status and resolution date.


    Other:


  • Be responsible for the timeliness and quality of the market comments prior to market opening, as well as newsflash related to major market events.


    4) Required skills


  • +10 years of experience in a similar position


  • Management skills


  • Technical knowledge, product knowledge


  • Project management skills


  • Ability to work under stress


  • Capacity to handle and use significant volumes of information


  • Analytical skills


  • Organisational skills


  • Rigor, reliability


  • Commercial mindset


  • Macro-economic and financial knowledge: understanding of market risk, credit risk etc.


  • Dealer licence on SIX Swiss Exchange and EUREX


  • Language skills (fluent): English & French


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.


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, 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.



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