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Bank Overview :

The bank for a changing world. With strong roots anchored in Europe’s banking history, BNP Paribas supports its clients and employees in today’s changing world and has positioned itself as a leading bank in the Eurozone and a prominent international banking institution.

BNP Paribas has been recognized as the 2019 World’s Best Bank for Corporate Responsibility by Euromoney magazine. This reflects our commitment to financing the economy in an ethical manner, developing and engaging our people, being an agent for positive impact on society and for combating climate change. BNP Paribas contributes to the real economy by providing solutions to a wide range of clients: individuals, community associations, entrepreneurs, SMEs, corporate clients and institutional investors. The Group helps them realise their personal and professional projects through solutions spanning financing, investment, savings and insurance.

BNPP has a significant presence in the UK with a 150-year history. Whilst recognised as a leading European bank, BNP Paribas in fact operates in 72 worldwide countries with around 200,000 employees. With such a diverse set of banking coverage (ranging from asset management insurance, retail banking, personal finance, vehicle leasing to investment banking) the career opportunities within BNPP are vast, international and attract a diverse staff base.

Business Area/Dept Overview

Single Stock Option Trading is a new desk within BNPP, reforming in the summer 2021 and receiving media attention (press links below). The team are vanilla option market makers in European stocks, with each trader specialised in a different sector of the economy. They work closely as a team and frequently partner on trade ideas with their colleagues from Exane- a no.1 rated boutique equity House that BNPP recently acquired.

The team aims to take advantage of mispricing when identified through either a stock fundamental, macroeconomic or volatility perspective. Their tools are stock, options and the various derivative ‘Greeks’.

They rely on equity fundamental research, analysis of market structure (e.g. positioning) & implied volatility data amongst other inputs to make their decisions.

See recent press articles about the team:

1) https://www.reuters.com/business/moves-bnp-hires-bofas-chiah-run-single-stock-flow-trading-source-2021-05-27/

2) https://www.thetradenews.com/former-citi-and-morgan-stanley-trader-joins-bnp-paribas-eu-single-stock-trading-team/

Key Responsibilities of role:

Supporting the trading team on daily tasks- option pricing, trade and client analysis, monitoring risk & market news flow
Creating and updating analytical reports- to be used for generating trade ideas, portfolio risk management, client analysis, PnL analysis
Post-trade support: working as liaison between trading team and the Mid-Office for trade reconciliation and prevention of booking errors; with various other internal teams to resolve problems e.g. PnL team

IT development: helping the desk create and improve tech tools for trading and analysis

Experience, Qualifications & Competencies:

Essential

Top academic qualifications from top university
Skills: i) Communication ii) Problem solving iii) Coding (Python preferred) iv) Excel
Numerically literate
Enthusiasm for financial markets
Project management skills

Preferred

Knowledge of derivatives (not required)
Experience working in financial markets

Conduct

Be a role model, supporting and fostering a culture of good conduct
Demonstrate pro-activity, transparency, and accountability for identifying and managing conduct risks · Consider the implications of your actions on colleagues

Start Date: August 2023

Salary: Competitive

Length of Internship: 11 months