London – Graduate Programme 2018 – Quantitative Research
Who we are
BNP Paribas Corporate & Institutional Banking (CIB) is a leading European investment bank with global leadership in many of our businesses. We are part of the BNP Paribas Group, a financial institution with solid foundations and a proven ability to adapt to change. If you are thinking about a career in investment banking, there is no better place to begin your journey than with BNP Paribas CIB. With nearly 30,000 employees in over 55 countries, we can offer you an exciting start to your career
What you’ll do
We have a number of opportunities to provide exposure to a wide range of absorbing quantitative research initiatives within BNP Paribas Global Markets, focusing on Interest Rate Derivatives, Flow Rates, Structured and Flow Credit, FX, CVA & LVA, electronic trading and client analytics. We have daily front-line exposure to traders, marketers and risk managers providing cutting-edge research and risk management solutions based on innovative mathematical, statistical and technological concepts.
Within our Quantitative Research business, you will find different entities:
The Global market eFICC team is responsible for quantitative research in electronic trading for fixed income products (Rates/Fx/Credit).
The team globally manages and develops eTrading strategy across business lines. The goal is to provide fully automated solutions and algorithms for market making in an increasingly growing eTrading environment.
The responsibilities of the team span the full range of electronic market making, including:
- Pricing & Risk management- Franchise optimisation.
- Data Science
The Credit quant team is responsible for the quantitative support of Primary and Credit Markets..
This includes the pricing, risk management and relative value for flow, exotic and primary desks. The team is also responsible for best practices for PL Explain and Predict globally and has direct contribution to the transversal efforts of rationalisation and standardisation of systems across Global Markets. It is involved in key transversal regulatory topics such as FRTB.
The team contributes to the bank's digitalisation strategy and provide innovative and advanced solutions to support Primary and Credit desks.
The FX options and Hybrids quant team is responsible for developing, implementing and supporting the mathematical models which are used for pricing options and structured products on foreign exchange rates (including some hybrid products where stochastic interest rate effects are significant). They contribute to the tools used for Market making about the fair price, for example skewing and spreading prices and red/green light for quoting the deal without manual intervention. The work generally involves a high level of programming as the market is highly industrialized.
The Flow Research team is responsible for the quantitative development and support of solutions and tools for Flow interest rates products globally. ( interest rates products with no optionality such as interest-rate swap, bonds, cross-currency swap, FX forwards, futures etc…) The team develops pricing and risk management models and supports directly the relevant desks (traders, sales and structuring )on a day-to-day basis.
The Options Research team is responsible for the quantitative development and support of pricing models/tools for the Rates Options and Inflation trading groups globally. Moreover the team is a core partner of both Structuring/Trading and Risk teams by helping analyzing specific trades/risks and applying the optimal pricing model. The team is also involved in the core industrialization of the Bank’s pricing capabilities as well as intervening on Capital regulation quantitative topics. As a result, the Options Research Group is a natural point of interaction between several core teams of the Bank.
The Compute team is responsible for various aspects of the libraries and analytical platforms used within Quantitative Research. One side of this is the development of the general purpose framework used for building quantitative electronic trading applications. The other side covers the pricing and risk management computations, for example making efficient use of large scale computation resources. The team evaluate mew technologies to see if they can be used to good effect. They maintain the build/deploy/test frameworks for quantitative research libraries.
The GM Data and AI Lab is responsible for building advanced data mining,machine learning and Natural Language Understanding models and systems for the benefit of Global Market business lines. The Lab works under the direct sponsorship of the head of electronic market making and commerce and under the supervision of the Digital Board. The Lab is supported on the technology side by the Compute team, part of the Quantitative Research, covering all the software infrastructure, deployment, optimization, and computation side of the Lab.
What we’re looking for
- Methodical and innovative thinker
- Strong drive to exceed expectations and take initiative
- Meticulous accuracy with a keen eye for detail
- Confident verbal communication skills
Technical skills and qualification required for the role
- A minimum of a Master’s or PhD equivalent in any degree discipline that provides a sound knowledge of stochastic calculus and numerical methods
- Previous related internship or work experience in financial services and/or investment banking
- Solid computer science background; programming experience required
- Experience of electronic markets, models and arbitrage strategies is not a prerequisite but a strong plus
- Demonstrable knowledge of financial markets, economics and quantitative finance
- 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
Closing Date: 7th Nov 2017
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