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Securitisation Portfolio Management Oversight – Vice President

2 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 Securitisation team, a sub stream 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 business lines., • Upon accreditation, exercising Credit Delegation or Right of Concurrence for securitization risk onboarding activities and certain other SPV counterparties structured using securitisation methods., • Representing RISK in Capital Markets underwriting activities and other relevant approval forums such as Transaction Approval Committees and New Activity Committees., • 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., • Providing Portfolio Management Oversight Job Purpose Purpose: • PMO is a newly set up sub team within RISK Securitisation with the following mission:, • To provide independent second line oversight of the global securitisation portfolio, ensuring robust portfolio risk monitoring, forward-looking risk identification, stress testing, adherence to risk appetite including where relevant ESG policies, regulatory compliance, KPI monitoring, effective challenge to 1LoD portfolio management practices, maintenance of governance frameworks relevant to RISK Securitisation.Coverage spans all products covered in scope of RISK securitisation., • 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., • Facilitate holistic and anticipatory risk analysis., • Act as a central hub facilitating transversal sharing of knowledge, information and analytical support across both RISK Securitisation teams covering client financing/hedging solutions offer (RISK Corporate Securitisation, “RCS”, and RISK SRT Securitisations, “RSS”) in all regions (currently, New York, London, Brussels, Lisbon, with future positions in Montreal, Madrid and Sydney)., • The activities cover both own account Securitisations (Significant Risk Transfer, or SRT trades) and third party Client Financing/hedging solutions offer, globally (currently active in Americas, EMEA and APAC)., • PMO team will interface with the following:, • RCS and RSS teams, team heads and global head, • 1LOD Desk Heads; Credit Portfolio Management and Non Financial Risk team, • Operational Permanent Control and RISK Operational Risk Management, • RISK MFI - Market Risk, • Regulatory Affairs, • RISK Corporate – Permanent Control & Business Management Core accountabilities of role Specific responsibilities of a Vice President, Securitisation Risk Officer (SRO) Core Responsibilities (these are the global responsibilities of the PMO team, anticipated to be split across the 3 initial VP level hires or 1 Director + 2 VP level hires) 1. Independent Portfolio Oversight & Risk Monitoring • Maintain independent risk view across global securitisation exposures., • Portfolio Risk Measurement Architecture – Development & Ownership, • Conduct structured portfolio deep-dives by asset class (ABS, RMBS, CLO, SPF etc.)., • Monitor activity operational limit utilisation (exposure, concentration, product type, geography, ESG risk overlays)., • RWA and Capital Oversight, • Review portfolio migration trends (ratings, delinquencies, collateral performance, covenant metrics, leverage trends)., • Assess early warning signals (EWS) and trigger governance escalation where required., • Trigger and provide challenge to 1LoD portfolio rebalancing decisions., • Undertake Quarterly Portfolio Review (deck preparation, analytical inputs in liaison with 1LOD and 2LOD, presentation to QPR Committee, minutes preparation). QPR Covers both client financing and SRT activities. 2. Risk Appetite & Concentration Governance • Translate high-level risk appetite into granular portfolio risk measurement metrics., • Independently monitor sectoral, counterparty, structural and jurisdictional concentrations., • Assess wrong-way risk exposures., • Provide independent challenge on risk appetite breaches and remediation plans. 3. Stress Testing & Scenario Analysis • Independently design and review portfolio stress testing frameworks., • Challenge scenario severity, assumptions, and transmission channels., • Develop with 1LOD CPM/provide independent challenge for reverse stress testing exercises., • Assess liquidity risk and refinancing risk in warehouse lines. 4. Non-Financial Risk & Structural Risk Oversight • Monitor portfolio NFR profile and trends, • Ensure lessons learned from NFR incidents are embedded., • Assess interconnectedness risk within NBFI ecosystem., • Escalate structural vulnerabilities. 5. ESG & Regulatory Developments Oversight • Monitor exposure to ESG-sensitive collateral., • Ensure portfolio data capture supports regulatory and internal policy requirements. 6. Governance, Escalation & Committees • Prepare materials for periodic and ad hoc portfolio reviews., • Provide independent opinions on material portfolio themes., • Monitor KPI trends, • Escalate material deterioration trends., • Timely update and maintenance of all applicable policies and procedures within the responsibility of RISK Securitisation. General Responsibilities include active contributions: • A Vice President 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:, • communicating to RISK ORC CIB any operational risk incidents (potential fraud, breach of security package, documentation errors…) Knowledge, Skill and Experience Technical experience and skills for Vice President level hire (Level: Expert): • Deep understanding of securitisation structures and relevant risks across range of products and asset classes., • Familiarity/knowledge of SRT trades and structures., • Knowledge of SEC-IRBA, SEC-SA, SEC-ERBA., • Cash flow modelling and stress testing expertise., • Quantitative capability (Python/Excel)., • Portfolio analysis, hedging and risk transfer experience, • Understanding of operational risks, fraud typologies. Experience Profile • 7yrs+ years structured finance experience (VP) and 12+ years (Director)., • Global investment bank or major asset manager., • Regulatory engagement exposure., • Senior committee presentation experience., • Exceptionally strong quantitative backgrounds (credit quant team background), • Surveillance background, • CFA or equivalent qualified. Soft Skills & Leadership Expectations • Clear senior-level communication., • Structured analytical mindset., • Crisis composure., • 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, • 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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