London - 2025 Long Term Internship - FICC (Fixed Income Credit & Commodities) Market Risk - #1742161

Company Purpose

Our company purpose is to contribute to a responsible and sustainable economy by financing and advising clients according to the highest ethical standards.

Our Employer Promise Is Built Around Three Pillars

• Being a great place to work;
• Committed to sustainability and having a positive impact;
• Being dedicated to the development of our people.
  
  

Business area

The main mission of the RISK Markets & Financial Institutions - Management & Supervisory Information (MFI - MSI) team is to provide General Management, CIB and RISK Function with a global independent view and analysis of key risks, related to market, liquidity, equity and counterparty risks, supporting optimal decision-making. As such, the team maintains an associated governance framework including métiers, RISK MFI comprising recurring committees from Financial Market Risks Committee (“FMRC”) to Main Positions meetings. The team also contributes to group-wide internal management information, including the Comité de Contrôle Interne, des Risques et de la Conformité (“CCIRC”).

The RISK MFI MSI team is based in London and Paris, with discrete teams based in Brussels and New York, and interacts closely with regional RISK MFI teams based in these locations and APAC.

The responsibilities of RISK MFI MSI are focused on three interlinked areas:

• Management Information framework,
• Capital Markets Stress Testing framework and Regulatory Measures,
• Capital framework.
  
  

The team is responsible for ensuring an exhaustive and transparent coverage in terms of perimeter and risk types. The team also provides (and concludes upon) external risk disclosures and contributes towards the design, incubation, implementation and ‘run mode’ of the risk analysis governance framework

Job Purpose

• Purpose: The MFI MSI MLR team is responsible for ensuring an exhaustive and transparent coverage in terms of perimeter and risk types. The team also provide (and conclude upon) external risk disclosures and contribute towards the design, incubation, implementation and ‘run mode’ of the risk analysis governance framework. The MFI MSI MLR teamwork in close cooperation with the ST Team on stress testing and general wrong way risk related topics. The team hence forms a key part of the Group’s risk identification platform and provide analysis both to senior management and regulators.
• Scope: Global
  
  

Key Responsibilities

• Centre of expertise and point of contact for the business line, able to provide a holistic view of risks and activities, escalating issues as appropriate.
• Analysis on market risks measures such as Greeks, understanding of the outright and various basis exposures, the P&L explain, the Regulatory VaR and SVaR, as well as the Stress Tests (assumptions and drivers).
• Analyse risks and put metrics vs market-dynamics into context, regarding the expected impact, compiling the information and reporting findings to the Management, in the form of supporting the various risk committees/meetings in place, including GM Main Positions Meetings. Interact regularly with Global Markets and RISK MFI (Markets & Financial Institutions), representing RISK MFI MSI in the regular meetings with Trading and RISK, taking full responsibility for commenting exposures and contributing on discussion topics and points of attention, having full ownership of the meeting document and meeting minutes/notes.
• Contribution on related topics to the production of the monthly Financial Market Risk Committee (FMRC) documentation. Contribute to the production of other relevant / on demand reports to the Board and to Group, Businesses and RISK Management, as well as requests from ratings agencies, regulators and auditors.
• Improve reporting through continuously adjusting the contents based upon information on prevailing business activities, in order to aid the decision making of Senior Management.
• When dealing with subject matter experts, show understanding of complex topics, such as those involving quantitative analysis, models, stress testing, etc; demonstrating awareness of quantitative skills / techniques.
• Drive infrastructure upgrades/development ensuring improvements and maintaining understanding of changes and ability to explain them. Improve existing processes in order to optimize efficiency, improve transparency, enhance functionality and ensure optimal quality of reporting.
• Provide expert assistance to MFI MSI ST and RISK MFI in stress testing matters and related regulatory reporting contributions. Contribute to reference rates (i.e. SOFR) regulatory templates / analysis.
• Adhere to procedures, performing controls and data quality processes.
• Developing models for Market Risk analysis and internal Stress Testing, doing draft presentations and technical documents designed to articulate key risks to non-risk forums, among other responsibilities.
• Supporting the development of junior team members (educating them and driving their development).
  
  

Requirements

Essential

• The candidate should have Market Risk Knowledge as well as FX and Interest Rate Derivatives Product Knowledge (both on vanilla and non-linear products).
• Quantitative skills, such as those demonstrated via a previous analytical role with exposure to numerical or financial analysis for the understanding of Risk Sensitivities (Delta, Gamma, Vega, Risk-Reversals, etc), their impact and the ability to provide analysis on the various Market Risk measures such as VaR and Stressed VaR. Ability to understand technical documents and be able to articulate key risks to non-risk forums.
• The candidate should be self-motivated and able to organize tasks in project mode as well as be able to ensure their timely progress or escalate when required. The candidate should be highly organised but agile as well. Autonomy is a significant skill for the right candidate.
• The candidate will be expected to have a general all round IT competence.
• The ability to work with and describe large datasets.
• Excellent verbal and written communication skills (English language) are an absolute requirement, due to the need to establish and maintain contacts and information flow with different teams across the bank. Further to that the candidate is expected to have excellent organizational skill and analytical abilities, be able to synthesise and simplify information, challenge various risk stakeholders. Attention to detail is a requirement.
• Ability to manage / facilitate a meeting with senior stakeholders and ability to influence, negotiate and collaborate.
• Rigorous attention to detail and capacity for critical judgement.
  
  

Preferred

• Ideally, candidates will have worked in a Market Risk role or have knowledge of risk management through trading or related position.
• Python programming experience is an advantage.
  
  

And of course, we expect all our colleagues to embody and practice the Group values (alignment with the Bank’s strategy, commitment, work ethic, integrity and Code of Conduct).

A Bit More About Why You Should Join Us

• We’re a great place to work
  
  

We aim for optimal work/life balance (depending on role, this includes hybrid working, flexible working and agile)

We are proud of our award-winning flexible benefits and health & wellbeing strategy. Our flexible benefits include:

• Generous holiday allowance of at least 26 days (plus bank holidays) – with option to buy and sell holidays.
• Valuable financial plans – a 12% non-contributory pension which has been moved to sustainable investments*, life assurance*, income protection and personal accident insurance.
• Extensive wellbeing and mental health offering – one of the most advanced private medical schemes in the UK, dental cover, wellbeing app, Cognitive Behavioural Therapy support, subsidised gym memberships, bespoke health assessments including genetic testing, Private GP (including digital GP services to parents of employees), Employee Assistance Programme, menopause & fertility support (we are an accredited Menopause Friendly Employer), neurodiversity assessment and support.
• Key onsite services and facilities in London – include physiotherapy, nutrition, massage therapy, physiology, mental health first aiders, seasonal flu vaccinations and free onsite fitness centre.
• Plus, emergency back-up care for dependants, green car leasing, season ticket loan, and a range of other benefits.
• Subject to relevant caps
• As the eurozone’s largest bank, we are committed to having a positive impact in the world.
  
  

For example, we are committed to Net Zero in all of our financing and investment portfolios by 2050. By 2030, 80% of our energy production financing will be low carbon.

But impact for us means more than climate. It means empowering our people every day. Everyone gets four volunteering days each year - in 2023, we achieved over 18,000 hours of volunteering across the UK and reaching over 4,500 young people.

• We believe in our people
  
  

We support our people to develop skills to adapt to the ever-evolving world of work and to prepare for the jobs of today and tomorrow. We do this through a comprehensive training offering, talent programmes, mentoring, career days and inhouse career tools.

We are proud of the number of our people who progress and secure new roles internally. In fact, in 2023, nearly half of our positions in UK CIB were filled internally.

Investing in our people also means we have a collaborative and inclusive culture:

• Direct feedback from our people shows that our internal culture sets us apart from our industry peers.
• Each year, nearly 30,000 employees globally are involved in professional networks that play an active role in promoting Diversity and Inclusion within the Group. These include our:
  
  

Pride Network, Ability Network (which supports disabled employees), MixCity (gender equality network), Women in Global Markets, Women in Global Banking, Women in IT, Diversity Equity & Inclusion in Technology, Early Careers Network, Multicultural Network and Parents & Carers Network.

Equal opportunities

BNP Paribas is committed to providing a work environment that fosters diversity, inclusion, and equal employment opportunity without regard to age, disability, gender reassignment, marriage or civil partnership status, pregnancy and maternity, race, religion or belief, sex or sexual orientation, or any other legally protected status.

Adjustments

We don’t want anyone to be disadvantaged in our recruitment processes, so if you have a disability or health condition which may mean that you’d benefit from some adjustments or additional support, please let us know as early in the process as possible.

PLEASE NOTE

• You may only apply to four Long Term Internships over the course of a year. These may be across any business area.
• Successful candidates for this long term internship will be considered for London ONLY.
• Please discuss the available start dates with your interviewers.
  
  

Unsuccessful candidates’ CVs will be shared with other teams within BNP Paribas and considered for potentially suitable roles. In this way we hope to maximise opportunities for candidates and hiring teams. By submitting your CV for this role you agree to it being shared securely with other hiring teams within BNP Paribas for the relevant recruitment round.

Location: London

Duration: 11 months