Head of Market & Financing Services, Asia-Pacific (SMP)

In Asia Pacific, BNP Paribas is one of the best-positioned international financial institutions with an uninterrupted presence since 1860. Currently with over 18,000 employees* and a presence in 13 markets, BNP Paribas 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.

Worldwide, BNP Paribas has a presence in 68 markets with more than 193,000 employees. It has key positions in its three main activities: Domestic Markets and International Financial Services (whose retail-banking networks and financial services are covered by Retail Banking & Services) and Corporate & Institutional Banking, which serves two client franchises: corporate clients and institutional investors. Asia Pacific is a key strategic region for BNP Paribas and it continues to develop its franchise in the region.

* excluding partnerships

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.

https://careers.apac.bnpparibas/

Business Team Overview:

Market & financing services (MFS) is a specialist team within Securities Services (2S) that manages discretionary front office trading services such as agency & principal securities lending, foreign exchange and financing solutions. In addition to these traditional front office services MFS also offer a suite of products that support investment optimisation, risk management and efficiency such as tri party collateral management and passive currency hedging services. All of these services are provided to both clients in custody with 2S and on a stand-alone basis to attract new clients to 2S.

In regards to APAC, MFS is present in all major branches of BNP Paribas and works closely with the Client Development/FIC/Global Markets and other teams such as Wealth Management to identify new business opportunities. Services are integrated within the wider product suite of 2S and CIB which includes custody, fund administration, derivatives execution and clearing, markets execution etc. to offer a one bank approach to servicing clients across all segments including Asset Owners, Asset Managers, Alternatives and Financial Institutions & Corporates.

In regards to staff, the incumbent will be responsible for leading a regionally located team of approximately fifteen to twenty headcounts comprising traders, sales, client management and product solutions/on-boarding staff whom all work in an integrated manner with rest of MFS staff and the global 2S and CIB teams. The incumbent will work closely with our Client Delivery teams whom provide back and middle office services as one team with the front office.

The team includes trading desks located in Hong Kong and Sydney interacting with clients and counterparties across Asia Pacific, and European clients who have Asian activities.

In regards to trading, all activities within 2S are managed within the BNP Paribas group-wide governance and Conduct protocols for front office activities - controls, procedures, limits and lines etc. are regionally and centrally managed and must be strictly adhered to. The incumbent will be expected to have a background in trading, risk, and credit and business development.

The full suite of MFS products has been implemented in Asia-Pacific in line with our global growth plans. The Head of MFS APAC is responsible for the deployment and communication of these strategies within the region whilst ensuring that the market and client needs of Asia Pacific are well understood and prioritised appropriately within the global strategy. In line with our APAC objectives a strong background in Agency Securities Lending, Principal Securities Lending and FX will be required.

Job Overview:

The Head of MFS is located in HK, it is a regulated role with responsibility for the trading desks, MFS sales, client management, solutions/implementation teams and representing MFS in the region. Operations and IT functions are a separate reporting line into 2S Client Delivery / CIB ITO and the Head of MFS APAC must work closely with the ITO regional representatives to ensure a smooth business as usual delivery and change management for MFS services to clients.

General Management:

Financials / strategy

• Definition of Budget on many angles (NBI, FTE, Costs, NSB,...) and achievement of Budget
• Manage the implementation of the global strategy and for ensuring the inclusion/optimisation of local markets and client nuances
• Work closely and transversally with all 2S client facing teams to support new business and product initiatives, pricing and strategy
• Promoting vocally and demonstrating collaboration across the Bank

Communication / reporting

• Oversee the activities of the Desk and accountable for financials, regulatory and compliance/governance/ conduct topics and strategy
• Financial reporting and communication of NBI performance and drivers

Supervision / controls

• In regards to regulations ensure that the higher standard of local or global applies
• Ensure that all client/counterparty interactions are managed within the context of the appropriate pricing, suitable services, and relationship strategy
• Ensuring adherence to all trading principles in line with the Conduct hand book and other policies and regulatory needs
• Organisation of the team to meet client requirements, optimise performance and manage and mitigate risk
• Ensuring that regional Business Continuity Planning or other contingency requirements are in place and all contingency measures are active and current

Risk Management

• In a controlled risk environment and in alignment with the global procedures, ensure full compliance with Conduct policies
• Ensure Conduct governance is fully operational, as per standard guidelines: Conduct is a standard item at the agenda of management or team meetings, Conduct dilemma's are well managed and documented, the escalation process is in place, Conduct responsibilities are delegated throughout the perimeter in charge
• Be aware of the Conduct risks arising in the perimeter in charge and make sure that appropriate mitigating processes and controls are in place
• Develop understanding of Conduct principles by ensuring staff participation to awareness & training sessions

Commercial development of the MFS activities in APAC

Promote and support business via the expansion of the 2S and MFS franchise via:

• Working closely with 2S Client Development and other Group resources such as FIC to represent MFS transversally as relevant
• Development of industry and client/prospect network
• Internal collaboration with existing clients and teams, routine deep diving to identify new opportunities
• Management of or participation in due diligence sessions, rfp/rfi's, meetings or other forums to actively construct new business opportunities
• Working with Brand and communications and other forums to actively promote press releases, articles or other market facing initiatives including speaking or participating in industry events such as conferences, forums etc.
• Represent BNP Paribas in industry groups or associations
• Identify service, market and regulatory requirements unique to the region and work with the central teams to review, assess (prioritise/de-prioritise)
• Work with the global product heads/central business development teams to construct market, segment of product strategies ensuring cohesion between the product strategies and local market deployment strategies
• Ensure post implementation or post sales loss review for any lessons to be learnt/product enhancements to be reviewed and implemented
• Management of regional product/business development specialists ensuring regional collaboration, cross training and coverage with on-going interaction with relationship, client service, FIC and other teams

Specifically in regards to product development:

• Participate in all Product development initiatives sponsoring, editing, authoring and researching or co-ordinating as needed to support Asia Pacific requirements including NAC/TAC sponsorship
• Oversee regional on-boarding to ensure a measured approach and co-ordination

Knowledge, Skills and Experience:

The incumbent will need to have:

• General management experience with a focus on managing teams (direct reports/manager of managers)
• Experience in trading products gained from a front office trading role ideally dealing with Institutional Investors. Experience in agency securities lending is a plus; an experience in the Asia Pacific Region, in particular for the restricted markets, would also be advantageous
• Strong understanding of risks and risk management (credit, market, counterparty, operational)
• A demonstrated approach in regards to management with a strong attention to detail, with accuracy and timeliness being paramount to the decision making process.
• Market recognised profile in Asia Pacific and ability to represent the Bank publicly and be press certified
• Strong presentation skills and able to represent the bank across forums from one to one prospect interactions to conference presentations
• Experience in product development, project management, change management or sales would be advantageous
• A background and commercial experience in financial services or banking, with broad market exposure in particular with securities services or the business model of a custodian banks would be advantageous

As this is a general management and regulated role, culturally the incumbent will demonstrate:

• Personal standing and professionally qualified to be licensed/regulated for the Branch
• In applying judgement, they will consider operational risk and compliance factors, timely execution and escalation.
• Their interpersonal skills will allow them to work and communicate effectively with a larger number of internal and external parties across levels
• Maintain a constant improvement focus, seeking to find and implement process or workflow efficiencies whilst ensuring any change or improvement meets compliance standards and operational risk requirements.
• Maturity and judgement in their place in the management team, ensuring the effective day-to-day operation of the team and the achievement of team targets. This collaborative approach to the day to day workings of the desk is crucial
• They will be autonomous if needed and recognise that skills and training will be provided by a mixture of on-the-job training and building technical knowledge.

Given the global nature of the activity and our organization as well as our client base, this role will require travel and a flexible approach to hours.

It is noted that this role will evolve in line with our expansion plans in Asia Pacific, and may in the future be reconstructed in line with the strategy of the Bank.