P&L (Profit & Loss) Controller

In a changing world, unprecedented challenges require unmatched talent. Join one of Montreal's Top Employers in 2023. We are a dynamic and growing organization having its main establishment located in downtown Montreal and part of a leading international banking institution fully committed to building a more sustainable future. Note that the position may be in the Canadian Branch of BNP Paribas or in one of its subsidiaries based in Montreal.

The position at a glance

The Equity Derivatives business has a substantial trading presence in Asia, Europe, and New York. This position is for a P&L controller supporting and controlling these businesses in New York. The selected candidate will be part of the Global Markets P/L team which produces daily P/Ls and Explains for dedicated trading desks.

The role will encompass daily P&L responsibilities and the successful candidate will need to fully understand and explain the key P&L drivers. The individual will be required to establish effective working relationships with both Front Office and other areas of support. (E.g. Trade Support, VR&C, Market Risk, Finance & IT) - allowing for an integrated and proactive approach to the business’ requirements, understanding the lifecycles of the products traded and the systems and reporting mechanisms required to enable full control and accurate and appropriate information to be supplied. The Individual will join a “split team” organization with team members located in both Montreal and New York City, under a functional management located in New York.

In detail

Departmental Objectives

• The participation in business development initiatives across BNP Paribas support functions and locations
• Resolution of PV breaks between client/ counterparty settlement amounts and P&L control estimates
• Ensuring the pricing configuration complies with trading strategy and internal controls, collaboration with V&RC and Risk required to enforce consistency
• Assist with the training and development of junior (analyst) members of the team
• The preparation and supervisions of daily and monthly management revenues for the Equity activity and their reconciliation with the estimates of the traders and with the financial accounts
• Continuously improving controls
• Collaboration with Risk to evaluate and explain cash and PV movements above established thresholds to facilitate risk reporting
• Discussing and reviewing trading P&Ls with management
• Reconciliation of PnL to Front office estimates with detailed Greeks and New deal breakdown
• Analysis, understanding and commentary on PnL using analytical tools
• Ensuring the MTD management P&Ls are consistent with the final end of month general ledger P&L
• Monitoring the FX exposure of the group to analyze and report deviations from the mean
• Working with front office and market risk to finalize month end PnL validating Map and Reserves at the trading book level
• Substantiation and resolution of Back office ledger vs. P&L systems cash breaks on a daily basis
• Working with front office and trade support and other parts of the middle office to resolve operational and booking issues
• Lead new systems deployment which is not limited to being part of TAC/NAC, gathering requirements, testing UAT database, ensuring results match expectations and reporting impacts
• Analysis and reporting of daily P&L with detailed Greek breakdown for multiple products including futures, options, equities, variance & correlation swaps, interest rate derivatives and Structured Products
• Continuously improving efficiencies

Trader Support & Customer Service

• Liaise with trading floor personnel and ensure a satisfactory resolution of all FO inquiries
• Manage deadlines and objectives
• Resolve all issues / conflicts and strive to meet or surpass the service level agreement
• Interact with Operations functions and other infrastructure groups to support a ‘one team approach’

Communication

• Ensure timely and efficient dissemination of data and the resolution of inquiries
• Identify and escalate time / risk sensitive issues to the team supervisor
• Cohesively explain and maintain own position, logically, in light of differing views

The Strengths And Skills That Will Help You Succeed

Minimum Required Qualifications:

• Strong working knowledge of P&L attributes/Greeks
• Spirit of continuous improvement
• Ability to work as part of a team in a “split team” organization
• Bachelor’s degree or equivalent required
• Superior attention to detail and accuracy
• Strong Excel & PC skills with proven ability to work with multiple systems
• Display good relationship qualities, team spirit, and ability to work across teams
• Possess Control mindset
• Knowledge of the English language is required
• 5+ years of previous experience in P&L Control, Finance, Trade Support, Valuations, Risk, or Front Office environment including 2+ years of P&L Control and 2+ years covering Equity derivatives & hedges (e.g. Futures, Options, Structured Products, Equity Swaps, Variance Swaps, and Dispersion Swaps)
• Strong interpersonal and communication skills a must
• Ability to work in a fast paced environment

Preferred Qualifications:

• Graduate degree in Finance, Math or Engineering or other quantitative disciplines
• Fluency in financial markets with an emphasis on Equities
• Experience in pricing, valuation or hedging of derivatives
• Working knowledge of Programming languages such as VBA & Python (strong preference)
• Previous experience in Equity Derivatives P&L

What’s In It For You

In addition to competitive compensation, we offer flexible benefits including a family and spouse insurance program, a defined contribution pension plan and paid days for volunteering. Hybrid work arrangements, such as remote working up to 50% and flexible working hours are available for most positions. BNP Paribas provides excellent training and personal development programs, as well as opportunities for career development within the company and internationally.

To find out more about our range of benefits, click here

What You Need To Know

• Given the vast majority of our clients, both internal and external, are based outside of Quebec and Canada, specific language requirements may apply. These will be clearly mentioned in the qualifications of the position;
• If you are selected to participate in the recruitment process, please inform Human Resources of any accommodations you may require. BNP Paribas will work with you to ensure that you are able to participate fully in the process;
• We will review candidates as they apply, so don’t wait to submit your application;
• You must be legally eligible to work in the Greater Montreal area and, if applicable, hold a valid work or study permit. Physical presence in BNP Paribas’ office(s) is an essential function of this position;

Diversity, Equity and Inclusion (DE&I) at the heart of our commitments

At BNP Paribas all employees are on an equal footing allowing us to create a work environment that values and respects people for their talents, skills and competences.

BNP Paribas recruits, employs, trains, compensates and promotes regardless of race, religion, colour, national origin, sex, disability, age, and other protected status (Employment Equity Act and Canadian Human Right Act).

To learn more about our DE&I commitments, click here

About Us

BNP Paribas is the top bank in the European Union and a major international banking establishment. Present in 65 countries, with more than 190,000 employees, the bank holds key positions in several areas of banking and financial services.

BNP Paribas’ mission is to contribute to a responsible and sustainable economy by financing and advising its clients according to the highest ethical standards, while striving to respond to essential concerns in terms of the environment, regional development and social inclusion.

Since 1961, BNP Paribas has supported large Canadian companies and institutions in their business development by offering a full range of specialized financial services and investment products.

With over 1,200 employees, BNP Paribas in Canada continues to attract experts from diverse fields as well as ambitious young talent from around the world. We are proud to offer our employees a rewarding and international workplace where they can build their professional careers by honing their skills, meeting challenges and enriching their knowledge of the financial industry.

Our certifications and partnerships

• Women in Governance – Parity certified - Gold certification
• Pride at Work Canada
• ROSEPH – Grouping of specialized organizations for the employment of persons with disabilities
• Montreal Top Employer 2023
• CCDI Consulting Inc. (Canadian Center for Diversity and Inclusion)
• Rainbow Accreditation issued by Canada’s LGBT+ Chamber of Commerce (CGLCC)
• IndigenousWorks
• Part of Les Affaires top 300 companies in Quebec
• Canada's Best Diversity Employer 2023

Do you want to discover other BNP Paribas offers in Canada?

Click here: BNP Paribas in Canada | Our job offers

• Only selected applications that meet the requirements of the role will be contacted **

Primary Location

CA-QC-Montréal

Job Type

Standard / Permanent

Job

OPERATION PROCESSING

Education Level

Bachelor Degree or equivalent (>= 3 years)

Experience Level

At least 5 years

Schedule

Full-time