Trader – Securities Services

As the leading European Union bank, and one of the world’s largest financial institutions with an uninterrupted presence in the region since 1860, BNP Paribas offers a wide range of financial services for corporate, institutional and private investors spanning corporate and institutional banking, wealth management, asset management and insurance. 

We passionately embrace diversity and are committed to fostering an inclusive workplace where all employees are valued and encourage applicants of all backgrounds, including diversity of origin, age, gender, sexual orientation, gender identity, religion applicants who may be living with a disability. We have a number of internal employee networks in place to empower our staff to act and challenge the status quo.

BNP Paribas PRIDE is highly active in favour of the LGBTQIA+ community
BNP Paribas MixCity which fosters better representation of women at all levels of the organization
Ability, the mutual aid network for employees with a disability or a disabling or chronic illness
BNP Paribas CulturAll which celebrates diverse backgrounds

BNP is committed to financing a carbon-neutral economy by 2050. The Group is a founding member of the Net-Zero Banking Alliance and has set up its own Low Carbon Transition Group to support its clients through their energy transitions.

https://careers.apac.bnpparibas/

More information 
BNP Paribas – Diversity & Inclusion Journey 
BNP Paribas – The Bank Of Green Changes 

Award Obtained
BNPP has won Top employer Europe award in a 10th consecutive year

Purpose of Department

The Principal Desk exists to provide Securities Lending and Financing services to our clients, which are considered as value added products to accompany global custody and fund administration services.

Principal securities lending encompasses the provision of fail coverage services to local custody clients and opportunity lending to the investment bank and broker dealer community. 
Securities financing / Repo comprehends the optimization of the cash available in accordance with the Group collateral policy.

The Hong Kong/Asia desk forms part of a global principal lending offer, with other desks in Paris and London.

Purpose of Position

The purpose of the role is to maximise profit from securities lending and financing and within the business and regulatory framework.

Key Responsibilities    

• Borrowing and lending equities on the following markets; Japan, Hong Kong, South Korea, Australia, Singapore, Thailand, so as to maximise P&L for the desk.
• Borrowing & lending bonds (Asian and non-Asian) so as to maximise P&L for the desk.
• Lend equities to fail coverage clients in local custody, to assist in settling their market trades.
• Optimising ALM available cash positions in all currencies (via Financing or Repo trades).
• Re-rating lent securities and cash positions when terms of the deal change.
• Ensuring that all activities are carried out in accordance with regulatory and business requirements.
• Constant check on credit risk and respect limits allocated to the activities.
• Pushing the diversification of trading strategy for the Principal products.
• Maintain and develop strong working relationship with counterparts and also beneficial owners. Plus, promote/market the desk externally and internally (market colour…)
• Adapting to changing regulations.
• Act as an escalation point for Corporate Action and Operational issues.
• Monitor fund holdings of exclusive clients to maximise securities lending opportunities.
• Monitor withholding tax rates on respective markets and adjust trading where necessary.
• Ensure effective co-ordination of trading / pricing with other Principal desks in Paris and London. 
• Implement recalls as a result of client sales within standard settlement cycles.
• Booking returns from borrowers and returning to lenders when and where applicable.
• Risk Analysis; where applicable, simulate trades versus credit lines in Risk Navigator and monitor credit line usage versus trading counterparts and exclusive clients.
• Co-operate with Business Development, credit and legal and monitor the process of client on-boarding with client integration.

Liaises With

Internal:

• Principal desks (Equities, STIR) in  Paris and London.
• Business Development
• Product Development
• Legal
• Credit/Risk – Market & Counterparty Risk (MCRA) and Risk IM
• Operations – Settlements, Exposure, Statics, Billing, Reconciliations
• Corporate Action & Income
• Product Control, ORPC
• Compliance
• Audit

External:
Securities Lending counterparts – Investment banks, broker-dealers, etc.
Fail coverage clients in the fail coverage programme  
Exclusive clients
Market data providers
Industry bodies (where applicable)

Professional Qualifications

Required:
2 Years experience minimum 

Technical Experience

Required:

• Strong interpersonal skills
• Strong technical skills
• Cantonese and/or Mandarin speaker
• Accuracy and numerical skills
• Initiative to develop trading ideas
• Ability to work under pressure in a small enclosed team environment

Desired:

• Extensive experience of the securities lending/financing  market
• Competent to advanced excel (macro) and powerpoint skills

Training

• Does this role require Training and Competence? Yes