London – Graduate Associate Programme 2027 – Automated Market Making ETF

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

BNP Paribas’ Global Markets business offers a broad range of products and services in the global interest rates, credit, currency, equities & commodity markets. Global Markets help their franchise of clients find effective ways to raise and invest capital as well as manage their exposure to risk. Their client base comprises of hundreds of corporations, institutional investors, banks, governments and supranational organizations.

Global Markets has the scale and reach to conduct business anywhere in the world and deliver products denominated in almost all of the world’s currencies. Their global network comprises more than 1,700 professionals working on our six main trading floors in London, Hong Kong, New York, Paris, Singapore and Tokyo. They are supported by regional offices throughout Europe, the Americas, Middle East and Asia-Pacific.

Global Markets' Automated Market Making desks provide continuously and electronically liquidity on a range of cash and derivative listed instruments. The Global Equities AMM desks in particular cover equities securities, Exchange Traded Funds (ETFs) and listed equity and index derivatives (Futures, Options). AMM Quant traders are continuously creating and optimising strategies, automatons and algorithms to improve liquidity provision on a wide spectrum of underlying, asset classes and markets.

The AMM ETF desk provides liquidity on regulated exchanges, MTFs and directly to BNP Paribas Institutional, Hedge-Fund and Corporate clients. It also partners with leading global ETF Issuers for their ETF range on-exchange performance, and competes with the most technologically advanced market-making firms globally.

In Europe BNP Paribas currently ranks as #1 Investment Bank for ETF electronic Market-Making as well as #1 Investment Bank for ETF Institutional flow.

Job Purpose 

The ETF Quant Trader Graduate works as part of a team of senior traders, responsible for maintaining markets (providing liquidity both on and off exchanges) and managing the technical platform that enables them to do so. This role requires a unique blend of trading and technical expertise, including product knowledge, high-performance coding, and an understanding of a complex and ever-evolving technical platform. It's a fast-track to gaining the level of expertise necessary to generate the next tech evolutions, as well as strategies and algorithm ideas.

This role perfectly encapsulates the future of the trader's profile and role in banks and hedge-funds.

Mandate covers ETFs issued in Europe, and all possible instruments and contracts used as hedges (Equities, Futures, Swaps, FX globally).

Key Responsibilities

The ETF Quant Trader – Graduate:

• Supports Quant Traders in the continuous improvement of BNP Paribas’s electronic Market-Making infrastructure.
• Supports Quant Trader in the monitoring of the activity (positions, flows, instantaneous market risks, infrastructure sanity) for eMM.
• As such, operates under the direct guidance of the Senior ETF Quant Trader with responsibility to report and escalate to line management and managing day-to-day with high level of expertise in the product she or he is responsible for.

Missions shared with all other Flow and Quant ETF Traders:

• With the support of Quant traders and Strategists, develops and maintain algorithms and models.
• To provide market liquidity through market making, and hedge accordingly
• To monitor market news and events and evaluate the risk and opportunities for positions and strategies  
• To ensure proper booking in the system, monitor front to back chain, and control operational risk.

ANALYSIS / RESEARCH /DEVELOPMENT

• Research on new quantitative strategies and back-test them
• Bring new strategy to production environment, improve current strategies
• Follow the latest quantitative techniques (research papers, corporate intelligence…)
• Enhance PnL sources diversification, use all available resources to maximize revenue.

TRADING

• Trade and take care of the allocated strategies. Master Trading tools.
• Perform the necessary backup on production to ensure business continuity.

CONTROL

• Make sure trading is in line with market risks and local limits.
• Propose enhancements to minimize potential Operational Risks.
• Make sure trading strategies are fully compliant with BNPP Compliance and Conduct framework.

REPORT/SHARE

• Make a report of the research project he is in charge (timeline, document, …)
• Make a trading report of the strategies he is in charge (risk analysis, exposures, …)
• Share research projects and experience with other AMM traders
• Direct contribution to BNP Paribas Control framework 
• Work as a team

Requirements

Knowledge and Skills 

• Analytical background: STEM/Computer Science MSc (additional MSc or PhD in Finance is a plus).
• High proficiency and autonomy in object-oriented programming: Python required
• Uncompromising attention to detail and rigor. Ability to work in a fast-paced environment.
• Ability to quickly apprehend and intellectual curiosity for complex technological infrastructures.

Experience

• Coding experience required (Computer Science MSc with relevant internships is accepted).
• Pandas/Numpy/SciKit and other relevant machine learning libraries is a plus.

Conduct

• Be a role model, supporting and fostering a culture of good conduct.
• Demonstrate proactivity, transparency, and accountability for identifying and managing conduct risks.
• Consider the implications of your actions on colleagues.

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).

PLEASE NOTE

•    You may only apply for one Graduate Programme per academic year (Quant, Global Markets, Technology, Global Banking, or Transactional Banking).

•    Successful candidates for this Graduate Programme will be considered for this specific Global Markets Quant Graduate Associate Programme ONLY.

•    Successful candidates for this Graduate Programme will be considered for London ONLY.

A bit more about why you should join us

1. 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

2. 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.

3. 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.

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