Area of work
Fixed Income and Derivatives

Studied
BA Economics, New York University (NYU)

Joined
2007

Working in
New York

I work on the sales desk for Structured Products and Derivatives, on the Fixed Income trading floor. The core of what I do is to provide interest rate derivatives to a number of different parties. We cover mortgage servicers, insurance companies, agencies and other dealers, who mostly use interest rate products for hedging and risk management.

I've been here nearly a year now and have learned an incredible amount in such a short time. When I was at university I learned the formulae and theories behind my work, but nothing can prepare you for actually doing the job. One of the benefits of BNP Paribas is that you're hired straight into a real job, so you take on responsibility immediately. The learning curve is very steep - it takes six to nine months just to learn to use all the software and systems and be able to price different products. The last couple of months have been especially satisfying as I've finally been able to add real value and contribute to the group effort.

I work in a group of 12, and within that myself and another analyst work in a small team with two senior staff members. Two weeks ago two members of the team went to a business conference for three days, which left me in charge of one whole business line. It was great to know that my supervisors trusted me enough to hand me this responsibility. Of course it was a bit stressful at first, but I received a lot of support from my other managers and it was a great feeling when I made it work.

There's a huge emphasis at BNP Paribas on understanding your product so you can explain it to the client - it's not just about executing trades. I think where we differ from some other banks is that we have a reputation as a specialised mathematical derivatives shop and have developed deeper relationships with clients based on this, so they expect us to have a higher level of knowledge.

There's also a great social aspect to work. Since joining I've made some great friends internally with colleagues both on my desk as well as peers that were in my training class. Additionally, there is plenty of opportunity to interact with clients outside of work.

The best part about working on the trading floor is that there's no slow time - ever. Even if the market is quiet, there's still so much to learn. Sitting where I do I'm able to soak up everything around me: conversations on the markets, screens relaying the latest news, colleagues talking to clients, the pricing of complex products.

The most exhilarating part about working on the floor is the moment of execution. First, we talk to a client to determine exactly what product they need. Next, we price the trade in any of a number of models, tweaking it to accommodate each different variable. Finally, with the client on a phone in one ear, and the trader who will actually manage the risk in the other -- we do the trade.