Securitisation Risk Analyst (“SRA”)
3 days ago
Madrid
GROUP BNP PARIBAS BNP Paribas Group is the top bank in the European Union and a major international banking establishment. It has close to 185,000 employees in 65 countries. In Spain we are more than 5,100 employees within 13 business lines. Business Area/Dept Overview The RISK Corporate Securitisation (“RCS”) team, part of RISK Securitisation, within RISK Corporates is a transversal team responsible for: • Analysis of new activities and exceptional transactions that use securitisation structuring technology, primarily but not exclusively generated by the CIB Capital Markets business line., • Upon accreditation, exercising Credit Delegation or Right of Concurrence for securitization activities and certain other SPV counterparties structured using securitisation methods., • Representing RISK in Capital Markets underwriting activities and other relevant approval forums., • Developing and maintaining relevant governance frameworks for risk management of Capital Markets activities in scope, including CIB Portfolio Management and to represent RISK in the relevant approval committees. Job Purpose Purpose: • Contribute to RISK’s mission to act as an effective and independent 2nd LOD for the activities of various Business Lines that fall in scope., • Undertake holistic risk analysis, and exercise RISK delegation within decision making forums. Scope: • EMEA and APAC activities of Securitisation Business (Securitised Products Group in EMEA, Asset Finance & Securitisation in APAC) and other Business Lines such as Balance Guaranteed Swap Trading within Primary & Credit Markets of Global Markets, and from time to time other Business Lines within CIB or BNP Paribas poles and metiers, when RCS is required to either consider credit approval or contribute towards the risk on-boarding decision process for exposures involving securitisation technology or securitised assets., • The Business Lines (1LOD) are primarily based in London and Paris for EMEA and Hong Kong and Sydney for APAC. Core accountabilities of role Specific responsibilities of a Securitisation Risk Analyst (SRA, AVP Level) • Undertake holistic assessment of Credit Requests covering all relevant topics: e.g., a.o., regulatory capital compliance, strategy, rationale, fit with bank’s risk appetite, risks including a.o., market, credit, economic, funding, liquidity, operational, reputational, ESG/CSR, jurisdictional, structural risks, stress testing, profitability, internal rating (IR) and global recovery rate (GRR)., • Such reviews are to be undertaken at inception of a file, then at least annually, but potentially on ad hoc basis. Such reviews can also be for new products, activities and envelopes. A written RISK Opinion must be prepared on the basis of such reviews. Primary focus will be on annual review stock, although new transactions will also be part of the mandate as decided by management or work flow requirements., • Participate in client Due Diligence visits (seller/servicer/originator)., • The SRA, upon relevant authorisation, will be required to perform the role of Securitisation Credit Committee RISK Delegation Holder (Right of Concurrence or credit committee chair), and exercise delegation. Where RCS acts as a contributor to credit committees organised by other RISK Streams, or to the Transaction Approval Committees/New Activity Committees and Fixed Income Commitment Committees processes, the SRA will need to present RISK Opinions and relevant recommendations to such forums., • Perform all necessary RCS credit approval process related roles: i.e. prepare agenda and minutes of credit committees, ensure committee approved regulatory capital parameters and limits are recorded timely in appropriate systems, and disseminate decisions timely., • Undertake timely and effective escalation to management, adverse risk evolutions at transaction or portfolio level, and other relevant matters concerning compliance with the policies and procedures of the bank., • Develop professional relationships with the Business Lines in scope, as well as key stakeholders and contributors across Functions., • Contribute to various periodic portfolio analysis, and Watch List and Doubtful Debt monitoring reviews., • Assist Securitisation RISK Officers in transaction and portfolio analysis. General Responsibilities include active contributions: • To the application, adaptation and continuing improvement of the credit decision processes and policies and procedures framework, and ad hoc projects., • To RISK Corporate permanent control framework and to Corporate Clients continuum initiatives, • To data quality and to the monitoring of operational risk :, • improving data quality via ensuring the accuracy of key risk parameters (counterparty ratings, GRRs, use of the relevant policies) in minutes & other relevant/applicable systems, and by prompting Business to follow on corrective actions, • communicating to RISK ORC CIB any operational risk incidents (potential fraud, breach of security package, documentation errors…), • To the continued enhancement of RISK Corporate and RCS monitoring and anticipation capabilities i.e.:, • detect potential threats on the portfolio that falls under his/her responsibility (sectorial/product/country levels, concentrations,…) and identify files for Watch Listing, • contribute to produce dedicated portfolio reviews on Securitization perimeter when requested, • contribute to exposure monitoring process (e.g. any periodic securitization risk reports, …), • CIB (Capital Markets, Global Markets, Primary & Credit Markets, BNP Paribas Security Services, Global Markets Strategic Oversight Office), • Functions: RISK, Legal, Compliance, IT & Operations, TAX, Finance, Inspection Generale, Value Preservation Group, as well as RISK SRT Securitisation. Knowledge, Skill and Experience Technical experience and skills • Securitisation risk assessment experience (credit, market, counterparty, liquidity..) covering a combination of new transaction reviews, annual reviews through 2 to 3 cycles and other ad hoc reviews. Experience to have gained from securitisation activities at large international banks (essential) and preferably also from Rating Agencies; covering at EMEA or Americas, and or APAC., • Experience (as noted above) across a two or more Securitised Products (ABS, RMBS, CMBS, CLO, Warehouse financing, securitisation swaps*…. and, • …. Two or more asset classes (corporate trade receivables, consumer unsecured, residential and commercial, CRE, auto, equipment, NPL/REO, leveraged loans (BSL/MML) with .,, • Two years plus prior experience in exercising Delegated Lending Authority (DLA) for Securitised Products at a bank is essential., • Demonstrated substantial autonomy managing end-to-end transaction review process, including negotiating with the 1st line of defence stake holders., • Demonstrated experience in running multiple live transactions simultaneously., • Review of transaction term sheets; financial covenants, loan documentation, corporate balance sheets and financial statements., • Experience in undertaking client Due Diligence visits, and producing DD reports., • Familiarity with alternative forms of financing including via repo or collateral exchange., • Experience in practical application of relevant regulatory capital regime for securitisations., • Experience in practical application of Rating Agency criteria and methodology for rating securitisation transactions in a broad range of asset classes., • Strong experience interrogating Stress Testing models., • *Securitisation swaps: Interest Rate Swaps, Cross Currency Swaps, Caps; Securitisation derivatives (including balance guaranteed swaps with good understanding of prepayment risk management techniques). Behavioural for all level hires • Ability to work effectively in a team environment, • Working under high pressure and to tight deadlines; prioritisation skills., • Negotiation skills., • Good interpersonal and relationship building skills at multi stakeholder level, • Focus on client/commercial/risk sensitivities and risk reward balance., • Critical thinking and sound judgement., • High degree of ethical standards, • Self-starter; high levels of initiative and ownership (takes accountability for own portfolio in all aspects falling under the job description); with an innovative spirit and technological-solutions based mind-set. Diversity and inclusion commitment BNP Paribas Group in Spain 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.
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