The business has indicated that the total Americas wallet (according to FY2020 coalition data) across futures (execution and clearing) & OTC clearing is €1.45B; with the bank’s ambition to capture 5% of this total clearing wallet by 2025. This would result in € 72.5mm vs. 2021 FY revenues of € 17.2mm, and would place the bank as the top non-US Futures Commission Merchant (FCM) in the Americas (and ranked 6th overall). These are significant commercial ambitions as part of the 2025 GM Plan.
*Physical presence in BNPP’s office(s) is an essential function of this position. BNPP requires all of our employees to be vaccinated in order to access its offices, subject to reasonable accommodations for reasons related to disability or religion.
Candidate Success Factors:
Candidates to be measured on the following four performance drivers, which will dictate how individual impact is considered on the Americas platform:
- Results and Impact
- Impacts division and influences peers and team
- Demonstrates good judgement when making decisions of high complexity and impact
- Relies on limited guidance for most complex decision making
- Is responsible for driving outcomes which have meaningful effect on team or department
- Leadership and Collaboration
- Creates trust with department leaders
- Acts in leadership capacity for large projects, processes, or programs for a team
- Client, Customer and Stakeholder Focus
- Able to build relationships with a mix of intermediate and senior colleagues or clients
- Interacts regularly with management and department leaders
- Demonstrates the ability to persuade and influence stakeholders at the team level
- Compliance Culture and Conduct
- Takes full responsibility for personal actions and demonstrates courage in facing problems and conflicts
- Perceived as a person of high moral character; upholds corporate values and displays high ethical standards”
Within the Global Markets Legal team, the Chief Negotiator for the Derivatives Execution and Clearing Legal is a based in New York and reports hierarchically to the Head of DEC Legal.
- Support the derivatives and execution and clearing business by negotiation of Customer Clearing Agreements, Margin Facility Agreements, Electronic Execution Agreements and other documentation ancillary to same;
- Provide effective and comprehensive business support is in place for the DEC business line in New York;
- Provide comprehensive and consistent legal advice around regulatory aspects of the DEC Business (collateral rules and regulations, relevant CCP and SRO rules etc.);
- Review and summarizing of FCM Netting Opinions across various jurisdictions for potential DEC Clients;
- Facilitating transactions, projects and other matters related to DEC from a legal perspective from the front office and LEGAL, by providing:
- Staying abreast of regulatory developments and anticipating potential impact on the Business.
- Documentation of transactions, taking into account economic aspects and commercial sensitivities;
- Appropriate and efficient use of external legal counsel, to promote high quality, cost efficient external legal services
- Representing LEGAL, on internal/external business industry groups covering relevant business activities
Minimum Required Qualifications
- JD Degree or equivalent
- 5 + years of law firm or in-house experience
- Strong communication skills, both written and spoken
- A global outlook, coupled with strong regional/local knowledge
- Organization skills and the ability to meet tight deadlines
- Collegial and collaborative attitude
- Ability to handle a large and diverse workload
- Fluency (written and spoken) in English
FINRA Registrations Required:
- Not Applicable
CFTC Swaps Dealer Associated Person (if yes, NFA Swaps Proficiency Program is required):
- Not Applicable
SEC Security-Based Swap Dealer Associated Person:
- Not Applicable
About BNP Paribas:
In the United States, BNP Paribas has built a strong and diversified presence to support its client base. We continue to grow and strengthen our commitment to the US market through our Corporate & Institutional Banking activities. We are one of a few non-US banks to offer a full value chain for our clients, from trading to financing, and clearing and custody in the US with the international footprint and capacity to deliver both globally and locally. Leveraging the strength of our European roots, our network can support clients in virtually every region of the world, enabling more connectivity and efficiency wherever our clients conduct business.
BNP Paribas’ Corporate & Institutional Banking services corporate clients and institutional investors offering tailored solutions in financing, cash management, and advisory services to companies via Corporate Banking, in capital markets via Global Markets, and in securities custody and administration via Securities Services. As the asset management arm of BNP Paribas, BNP Paribas Asset Management offers high value-added solutions to individual savers, companies, and institutional investors.
The bank employs nearly 14,000 people and has a presence in the country since the late 1800s in major cities including New York, Jersey City, Chesterbrook, PA, San Francisco, Boston, Chicago, Denver and Washington, DC.
BNP Paribas is a leading bank in Europe with an international reach across the US, EMEA and APAC. It has a presence in 65 countries, with nearly 190,000 employees. The Bank offers a comprehensive range of banking, investment and financial services solutions through three main fields of activity: Retail Banking for the Bank’s retail-banking networks and several specialized businesses including BNP Paribas Personal Finance and Arval; Investment & Protection Services for savings, investment and protection solutions; and Corporate & Institutional Banking, focused on corporate and institutional clients. Based on its strong diversified and integrated model, BNP Paribas helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realize their projects through solutions spanning financing, investment, savings and protection insurance.
We take pride in our expertise and our ability to adapt while constantly looking ahead to create a more sustainable world.
BNP Paribas. The Bank for a Changing World – https://usa.bnpparibas/en/homepage/join-us/our-opportunities/
BNP Paribas is committed to providing a work environment that fosters diversity, inclusion, and equal employment opportunity without regard to race, color, gender, age, creed, sex, religion, national origin, disability (physical or mental), marital status, citizenship, ancestry, sexual orientation, gender identity and gender expression, or any other legally protected status.
To apply for this job please visit usa.bnpparibas.