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Securitisation Risk Officer – Vice President - BNP Paribas

26 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., • Undertake portfolio reviews and management across the over the specified scope of SPG EMEA and/or of AFS APAC as relevant. 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., • 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 target hire will have primary focus on the activity of financing direct lending clients of BNPP Paribas, with broadly syndicated and middle market leveraged loans as underlying collateral. Thus, priority will be given for individuals with relevant experience (financing structures + analysis of underlying leveraged loan credit). The Business Lines (1LOD) are primarily based out of London and Paris for EMEA and Hong Kong and Sydney for APAC. Core accountabilities of role Specific responsibilities of a Vice President, Securitisation Risk Officer (SRO) • 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., • Participate in client Due Diligence visits (seller/servicer/originator)., • The SRO, 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 CommitmentCommittees processes, the SRO will need to present RISK Opinions and relevant recommendations to such forums., • Perform all necessary RCS credit approval process related roles: i.e. prepareminutes 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., • SRO would be required to undertake portfolio reviews and management across specified asset class/desk activity defined to be in one’s scope (where relevant with the support of analysts)., • Maintain and develop professional relationships with the Business Lines in scope, as well as with key stakeholders and contributors across Functions, and act autonomously. With the foundation of one’s experience and strength of relationship with stakeholders, at a VP level, the SRO will be expected to develop constructive opportunities/ways in which an otherwise difficult to approve Business Strategy/trade proposal can be supported. They will also be expected to implement their approach with minimal guidance from management. General Responsibilities include active contributions: • A Vice President in RCS will be expected to propose and drive operational process improvements including streamlining, challenging status quo, by own initiative, developing them further with guidance from management., • To contribute towards the 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, • 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 for Vice President level hire • Substantial securitisation risk assessment experience (credit, market, counterparty, liquidity..). Experience to have gained from securitisation activities at large international banks (essential) and preferably also from Rating Agencies; covering EMEA and APAC., • Substantial expertise transversally across a wide range of Securitised Products (ABS, RMBS, CMBS, CLO, Warehouse financing, securitisation swaps*…. and, • …. asset classes (trade receivables, consumer unsecured, resi and commercial, CRE, auto, equipment, NPL/REO, leveraged loans (BSL/MML), with experience in at least three asset and product classes (for example, leveraged loans, consumer and securitisation swaps)., • Demonstrated experience in exercising Delegated Lending Authority (DLA) for Securitised Products at a bank would be an advantage, but is not essential., • Autonomously 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., • Strong experience in practical application of relevant regulatory capital regime for securitisations., • Strong 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., • Strong 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 with an innovative spirit and technological-solutions based mind-set., • Ownership and accountability of the activities under the specified asset class scope. 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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