Vice President - Middle Office APAC IR Derivatives

About BNP Paribas Group

BNP Paribas Group is a leading European bank with a strong global footprint across 72 markets and more than 202,000 employees. The Group provides corporates, institutional and private investors with product and service solutions tailored to their specific needs. It offers a wide range of financial services covering corporate & institutional banking, wealth management, asset management, insurance, as well as retail banking and consumer financing through strategic partnerships.

About BNP Paribas Solutions - Philippines Branch

Established in 2024, BNP Paribas Solutions Philippines Branch is a branch of BNP Paribas Group, a leading bank in Europe with an international reach. We provide support services. back-office operations services related to or which further the accomplishment of the corporation’s investment services, banking transaction processing, and equity investment.

Commitment to Diversity and Inclusion

At BNP Paribas, we passionately embrace diversity and are committed to fostering an inclusive workplace where all employees are valued, respected and can bring their authentic selves to work. We prohibit Discrimination and Harassment of any kind and our policies promote equal employment opportunity for all employees and applicants, irrespective of, but not limited to their gender, gender identity, sex, sexual orientation, ethnicity, race, colour, national origin, age, religion, social status, mental or physical disabilities, veteran status etc. As a global Bank, we truly believe that inclusion and diversity of our teams is key to our success in serving our clients and the communities we operate in.

About Business Line/Function

Global Market Operations, also known as COCE (client operating center of excellence), is further divided into 4 departments i.e. Trade Processing & Support, Product Control, Client Management & Change Management. Product Control in the wider market outside of BNP is Middle Office. Product Control consists of streams like Documentation & Reconciliation, Trade Support, P&L & Trading Portfolio & controls. Product Control teams are in regular contact with Market Front Office, Regional Back Office’s and Regional Finance & other support teams for their BAU.

Position Purpose

The role of the IRD Trade Validation Lead – is accountable for the delivery of the IRD Derivatives Trade Support Activities within the OTC & LD Trade Validation team which processes any OTC & LD Transaction for which terms & conditions are negotiated, with the mandate to ensure that it is correctly represented in the booking system, consistent with the sale and allocated if necessary. They will also ensure that the transaction is correctly feeding FO to BO booking systems.

The Trade validation team is (1) responsible for accurate trade validation of OTC Derivative Product within BNPP Systems. (2) Ensure trade amendments are performed in a timely fashion, and their PV are checked & validated. (3) Escalate any mismatch on the trade to the FO & Management that may indicate a wrong position or transaction in the FO System. (4) Run all required controls on key elements

Responsibilities

Direct Responsibilities

• Booking validation of IRD trades at inception and Amendments responsibility as per the Amend & Cancel policy
• Implementation of transversal controls complying with new Regulatory constraints
• Definition and implementation of remediation plan following potential incidents
• Contribution and implementation of transformation projects
• Build strong association with Desk Head, Traders, Business Managers and Sales.
• Liaison with Associated teams within the Service Control utility to help resolve trade related Fobo breaks.
• Liaison with Global Operations lead to driving product strategy, work with Front to back teams to eliminate manual work and increase STP
  
  

• Design and align process and organization so it is globally consistent
• Ensure procedures are updated regularly
• Ensure proper segregation of duties and level of controls across Trade Validation teams
• Monitor global production of IRD Trade Validation activity
• Help to define and implement improved weekly KPIs and KRIS which are globally consistent for the IRD Perimeter showing volume, capacity, STP rate, and breakdown by top client .
• Provide weekly commentary and analysis on KPIs and KRIs vs Thresholds.
• Ensure OPC reporting is affected thoughtfully and comprehensively
• Follow up on any audit finding and implement corrective action as necessary
• Ensure the Control framework is properly implemented for Trade Validation Derivatives activities, promoting awareness and following implementation and sign-off of RCSAs and controls reviews by the team managers
• Being escalation point of contact toward the business
• Responsible of the global level of service delivered
• Build a strong control framework and ensure strict adherence to controls
• Build SME Framework within the teams & minimum 3x3 model for all activities
• Effective escalation management and Control mindset
• Work with support teams: BCM team to devise resiliency strategy, Risk team to test the controls and build a strong control framework
  
  

• Providing solutions to new business initiatives
• Reviewing workflow and propose enhancements to improve processes
• Review controls are updated and reviewed regularly
• Providing training and guidance to junior members
  
  

• Candidate must have at least 15 years of relevant work experience. At least 10 years on management role of 10 or more Headcount.
• Must have expert knowledge in Interest Rates Derivatives products (IRS, CCS, Swaption, Range, Callable) and FX Options
• Strong familiarity with Middle Office Support functions
• Extensive experience in people management while maintaining strong grasp on operational processes.
• Sound knowledge on VBA – Hands on experience to develop and modify Macro spreadsheet
• Strong focus on accuracy, attention to detail and ability to work under pressure
• Effective time management and ability to prioritize workload and escalate issues to management
• Possess great team spirit but yet can work independently
• Strong communication skills and stakeholder management capabilities.
• Highly driven, resourceful and result oriented
• Must have at least a bachelor’s degree in Financial Management, Business Administration, other related field.