Head of Principal Lending Trading, APAC
BNP Paribas
Hong Kong, Hong Kong, HK
3天前

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.

BNP Paribas offers you an exciting career in an international business environment that is fast-paced, diverse and focuses on creating high-value relationships with our clients.

We offer competitive salary and benefits, as well as a working environment where you’re valued as part of the team.

  • excluding partnerships
  • https : / / careers.apac.bnpparibas /

    Position Purpose

  • Govern, develop, manage and grow the Principal Securities Lending Trading activities in APAC
  • Key Responsibilities

    MANAGEMENT & GOVERNANCE

  • Direct management and development of a team locally of three staff
  • Management of the Hong Kong Principal desk, ensuring that all activities are managed in accordance with regulatory and business requirements
  • 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) to maximise P%L for the desk
  • Optimising ALM available cash positions in all currencies
  • Direct management of the Hong Kong desk trading team day-to-day activity and ensure a strong co-ordination / consistent strategy on a global basis
  • Management of risk and respect limits allocated to the activity
  • Contribute to the increase of supply; exclusive mandates and new counterparts
  • Pushing the diversification of trading strategy
  • Provide revenue estimates / bids for potential new clients
  • Maintain and develop strong working relationship with counterparts and beneficial owners, promoting / marketing the desk externally and internally (e.g. market colour).
  • Research and development of the product, including monitoring and adapting to changing regulations
  • Analyse performance of the Hong Kong desk
  • Manage budget and forecasts process for the Hong Kong Principal desk
  • Contribute to the Global Markets Monthly Governance and global & regional MFS business strategy
  • Management of trading mandates, minimum on an annual basis
  • Management of audit and compliance reviews
  • Act as an escalation point for Corporate Action and Operational issues
  • TRADING

  • Negotiate and agree fee rates for securities (equities & bonds) lending borrows and loans trades.
  • Negotiate and agree levels on the cash lent to the street.
  • Monitor fund holdings of exclusive clients to maximise securities lending opportunities.
  • Lend equities to fail coverage clients in local custody, to assist in settling their market trades.
  • Respond to counterparty demand for securities & cash by lending our long inventory & ALM available cash positions to such clients, including responding to Equilend requests.
  • Maximise revenue from yield enhancement.
  • Re-rating lent securities and cash positions when terms of the deal change.
  • Monitor withholding tax rates on respective markets and adjust trading where necessary.
  • Ensure effective co-ordination of trading with other Principal desks in Paris and London.
  • Implement recalls in support 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.
  • LIASES WITH : Internal :

    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
  • 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)
  • CONDUCT ROLES & RESPONSIBILITES :

  • In a controlled risk environment and in alignment with the global strategy, managers 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 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
  • Ensure Conduct principles are fully embedded in processes including people management processes (appraisal, promotion, mobility, recruitment, )
  • Develop understanding of Conduct principles by ensuring staff participation to awareness & training sessions
  • Competencies (Technical / Behavioral)

  • Experience in Stock loans, good knowledge of the range of products (exclusive business, flow and dividend, liquidity structures) and of operational, credit, liquidity risks.
  • Commercials skills, Develop commercial relationships and launch a trading book (equity and fixed income)
  • Team worker
  • Superior verbal and written communication and presentation skills
  • Specific Qualifications Required

  • Graduate or relevant market experience
  • At least 5 years of securities financing experience gained as a borrower / lender / market counterparty
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