VP, Credit Solutions Portfolio Management

September 12, 2023

VP, Credit Solutions Portfolio Management

ReferenceGLO006272

  • Standard / Permanent
  • US-NY-New York
  • MISCELLANEOUS
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Business Overview:

Asset Finance & Securitization (AFS)

AFS is a global business within BNP Paribas CIB, straddling activities across both Global Banking & Global Markets. The AFS umbrella includes several businesses, including includes Collateralized Loan Obligations (CLOs), Credit Solutions, Asset-backed Securities (ABS), Project & Infrastructure Finance, Transportation Finance, and Export Finance.

Credit Solutions is a strategic activity of BNPP that sits within the Asset Finance and Securitization Platform. Credit Solutions offers standardized and bespoke financing & capital solutions to credit investors, including the largest CLO managers and direct lenders globally. The collateral spans liquid to illiquid credit assets, focused on leveraged loans (broadly syndicated and middle market/private credit) and other high-yielding instruments. Products include shorter-dated mark-to-market financing (e.g., TRS, repo) against single-name instruments as well as financing against portfolios of loans, including (i) shorter-tenor warehouse financing intended to support CLO take-outs and (ii) longer-tenor senior portfolio financing  that provides leverage to credit funds, supporting them through the lifecycle of their investment strategies. The adjacent CLO structuring team offers securitization (structuring and syndication) for leveraged and structured credit assets.

Candidate Success Factors:

Candidates are measured on the following four performance drivers, which will dictate how individual impact is considered on the Americas platform:

  • Results and Impact
    • Able to influence peers and team.
    • Demonstrates good judgement when making decisions of high complexity and impact.
    • Exercise appropriate autonomy in the execution and delivery of work.
    • Responsible for driving outcomes, which have meaningful effect on team or department.
  • Leadership and Collaboration:
    • Creates trust with colleagues.
    • Acts in leadership capacity for projects, processes, or programs.
  • Client, Customer and Stakeholder Focus:
    • Able to build relationships with a mix of colleagues and clients.
    • Interacts regularly with management and department leaders.
    • Demonstrates the ability to 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.

Responsibilities: 

The Credit Solutions team is hiring a Vice President (VP) in its portfolio management vertical, supporting the fast-growing US CLO & Senior Portfolio Financing (SPF) businesses. 

The VP will focus on the portfolio management of financing transactions (including non-recourse Asset Backed Loans, CLO warehouses, NAV facilities, and derivative financing transactions like TRS and repo).

The position plays a key role in developing the platform internally: coordinating with key internal constituents (in particular, RISK & other control functions); upholding and demonstrating rigorous credit and operational controls; streamlining and refining the team’s systems & processes; and securing the infrastructure to drive scalable growth.

In addition to building deep connectivity with the structuring teams (CLO, Senior Portfolio Financing & Credit Derivatives/Solutions), the applicant will build a broad internal network to facilitate the business and demonstrate control over risk management. Maintaining credibility with constituents including Risk, Middle Office, and Management is a critical KPI for the role. 

The VP will be the front office’s main point-of-contact with 

–        operational partners, including Structured Products Middle Office (SPMO), loan servicing and agency services

–        regulators, internal audit functions and various head office constituents

–        Treasury & Finance

–        third-party service providers, including IT/systems vendors

–        internal IT personnel, including any project managers & developers dedicated to the business

In addition, the applicant will be in regular dialogue with our clients, including financing and capital markets professionals as well as operations personnel as it relates to portfolio servicing and operations.

The applicant will develop a broad understanding of structured finance – from a financing, derivative and securitization perspective — and will be exposed to the investment decisions, portfolio construction and risk management protocols of sophisticated credit investors. On the liability side, the applicant will understand how capital structures drive investment returns; and how investors employ a combination of financing and capital markets instruments (like securitization and unsecured bonds) to optimize IRRs and stay competitive. 

Key responsibilities:

–        Protect bank balance sheet as “first line of defence”: manage systems, processes, and personnel to uphold high standards of control on credit risk, capital efficiency and operational robustness

–        Support the portfolio management of the financing book by monitoring the performance of each facility against its performance triggers and covenants; remediate underperformance by coordinating a response with the Borrower and other parties (trustees, middle offices, Legal, etc.)

–        Manage reporting and analytics regarding risk and capital (including Stress Tests, Control Tower briefings and quarterly capital reviews) for internal (RISK, treasury & senior management) and external (regulatory) constituents

o   Produce dashboard relating to exposures and risk limits

o   Lead scheduled and ad-hoc reviews with internal constituents

o   Manage quarterly capital review process

–        Optimize financial resource management by fine-tuning rating & capital calculation methodologies and, where applicable, facilitating the syndication of risk

o   Manage calculation and reporting of regulatory capital charges

o   Liquidity reporting: forecast the business’ liquidity needs by analysing and reporting on borrower behaviour and coordinating with structuring team on expected changes in limits & exposures

–        Oversee the reconciliation, reporting and forecasting of P&L

–        Build, maintain and revamp infrastructure: lead digital transformation by designing, adopting, and evangelizing state-of-the-art technology tools to increase productivity and operational robustness.

–        Support the review and monitoring of the underlying collateral, comprising leveraged loans (both single-name and portfolios; both broadly syndicated and direct-lending/private credit) and other high-yield instruments (including high yield bonds, technology/venture debt, structured finance assets, project/infrastructure loans and aviation loans)

–        Develop and maintain processes to track and secure critical data and documentation (including financial reporting from borrowers; data related to underlying collateral; and legal documentation)

–        Manage, train, and develop junior members of the team, including resources in near-shoring centers.

Minimum Required Qualifications:

–        Undergraduate degree with quantitative training (e.g., Mathematics, Computer Science, natural sciences, engineering, economics, etc.);

–        Interest in leveraged and structured credit

–        Fluency in English

–        Excellent written and oral communication skills

–        Fluency with Excel; VBA, database and other programming skills are a plus

–        Rigorous attention to detail and ability to manage large data sets

–        Ability to work under pressure and deliver within tight deadlines while maintaining high standards

–        Ability to work flexibly in a collaborative, team-oriented environment

Preferred Qualifications:

  • Masters Degree or MBA in relevant field of study

FINRA Registrations Required: 

  • SIE, Series 79 and 63 licenses will need to be obtained within a reasonable amount of time

CFTC Swap Dealer Associated Person (if yes, NFA Swaps Proficiency Program is required):

  • N/A

SEC Security-Based Swap Dealer Associated Person:

  • N/A

The expected starting salary range for this position in New York is between $225,000 annually. The actual salary may vary based upon several factors including, but not limited to, relevant skills/experience, time in role, base salary of internal peers, prior performance, business line, and geographic/office location.

About BNP Paribas:

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. 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. We take pride in our expertise and our ability to adapt while constantly looking ahead to create a more sustainable world.

The bank employs nearly 6,000 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.   

As an international company with a global footprint, the unique cultures and viewpoints of our team members are an integral part of the fabric of BNP Paribas. We are a company with a purpose – to be a responsible and sustainable global leader. We aim to create an environment where our employees feel empowered to drive change, make an impact and be true to themselves. We employ talented individuals from a wide variety of backgrounds, locally and globally, and are inspired by our employees who help us in cultivating a diverse, equitable and inclusive workplace through initiatives such as our Diversity, Equity & Inclusion (DEI) Leadership Forum and Employee Resource Group (ERG) communities. We strive to be a workplace where all team members can grow and thrive and offer robust training, development and mentoring opportunities to make that vision a reality. Our leaders are deeply committed to DEI and highly accessible to our employees, consistently soliciting feedback on how we can continue to support our employees to reach their highest potential. 

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.