# London - 2026 Long Term Internship - Counterparty Risk Analyst [BNP Paribas](https://www.jorb.ai/firms/bnp-paribas.md) · London · United Kingdom · [Risk & Compliance](https://www.jorb.ai/jobs/risk-compliance.md) BNP Paribas is hiring a London - 2026 Long Term Internship - Counterparty Risk Analyst in London. Posted 2026-06-08; applications close 2026-08-07. **Apply**: https://group.bnpparibas/en/careers/job-offer/london-2026-long-term-internship-counterparty-risk-analyst Posted 1d ago. ## Role details ## Company overview Our company aims to contribute to a responsible and sustainable economy by financing and advising clients according to the highest ethical standards. Our employer promise rests on three pillars: being a great place to work, commitment to sustainability and positive impact, and dedication to developing our people. ## Business area Risk MFI – Counterparty Risk Team covers counterparty risks generated by corporate, financial (including market infrastructure), or sovereign counterparties; collateral risks generated by Global Markets. ## Job purpose The Intern position is within the Counterparty Risk team, part of RISK MFI Analysis & Decisions, based in London. RISK MFI Analysis & Decisions is part of the RISK Function within BNP Paribas. The Counterparty Risk team analyses exposures for BNP Paribas OTC/SFT and prime services activities across corporates, financials, sovereigns, managed funds, and hedge funds, covering all derivatives trading activities (Credit, Interest Rates, Inflation, FX, Equity, Commodities) as well as Securities Financing. The role includes evaluating new transactions and onboarding of new clients, understanding exposures through market risk analysis, designing stress tests, and contributing to regulatory projects. The team monitors collateral in financing activities and CSAs, including initial and variation margin. ## Responsibilities - Analyze and monitor counterparty risk exposures on selected names or portfolios, including understanding the origin of exposures (specific trades, products). - Design relevant risk measurement methods and stress testing in collaboration with Market Risk and credit officers, within internal and regulatory contexts. - Aggregate and monitor market risk sensitivities by counterparty across products and business units to provide a transversal view. - Serve as the central point of contact with credit officers (corporate, financial institutions, hedge funds) and provide relevant analysis and organized forums. - Define and maintain complex overrides for exotic products on a global counterparty scope. - Review and analyze complex transactions from a counterparty risk perspective. - Act as the central point of contact for collateral within RISK: define and maintain eligible collateral policies and organize collateral processes. - Issue recommendations to RISK Credit Officers for non-standard collateral exceptional requests. - Define and monitor the collateral portfolio and concentration envelopes; define and monitor adequate stress testing; define and validate the specific risk framework for Prime Brokerage activities. - Analyze & monitor economic and regulatory measures—including stress testing—linked to counterparty credit risk on a global scope. - Present outcomes of analyses in dedicated forums to front office or RISK management; summarize main risk drivers and provide risk assessments. - Interact closely with Market Risk teams, traders, sales, and T2RS/S&R teams to understand materiality and intricacies of transactions; participate in risk-business discussions to align exposures with risk appetite. - Contribute to the development of analysis tools and pursue innovation within the team to improve processes and methodologies. - Identify main counterparty risk drivers based on market risk sensitivities and counterparty risk metrics; monitor sensitivity analyses and stress tests of the portfolio. ## Requirements - Excellent analytical, IT, and quantitative skills with the ability to extract and aggregate risk data promptly; strong data quality focus. - Solid technical skills, including knowledge of Python or R; basic understanding of structure of capital markets. - Understanding of risk metrics and their merits/caveats for market and counterparty risk; knowledge of: - Market VaR and Greeks - Collateral operations and CSA terms - Stress testing - Initial margin models and calculations - Counterparty credit risk exposure models - Ability to react quickly and precisely in high-pressure trading situations with Front Office interactions. - Strong interpersonal and communication skills (written and verbal) to build relationships and report risk clearly in jargon-free language. - Ability to work in a team and collaborate with stakeholders of diverse technical backgrounds. ## Interactions The analyst will interact with Traders and Sales teams, other RISK teams, IT teams, Front-Office Risk teams (T2RS), and Strategy & Risk Teams. ## Conduct - Be a role model, fostering a culture of good conduct. - Demonstrate proactivity, transparency, and accountability for identifying and managing conduct risks. - Consider the implications of actions on colleagues. - Uphold the Group values, including alignment with the Bank’s strategy, commitment, work ethic, integrity, and Code of Conduct. ## Location London ## Duration 11 months ## Notes for applicants You may apply to four long-term internships over the course of a year across any business area. Successful candidates for this long-term internship will be considered for London-only roles. Please discuss available start dates with your interviewers. Unsuccessful candidates’ CVs may be shared with other BNP Paribas teams for potentially suitable roles to maximize opportunities. By submitting your CV, you agree to its secure sharing with other BNP Paribas recruitment teams for relevant rounds. ## Why join BNP Paribas We are a great place to work with a strong focus on work-life balance, hybrid and flexible working options, and an award-winning benefits program. Benefits include generous holiday allowance, a comprehensive pension, life assurance, income protection, and extensive wellbeing services. We support a diverse and inclusive culture with a broad network of employee groups and explicit equal opportunity commitments. We offer training, mentoring, and career development to help our people grow and progress within the organization. ## Applying to this role This London - 2026 Long Term Internship - Counterparty Risk Analyst role at BNP Paribas runs through the firm's own careers portal and expects a CV and cover letter written specifically for the posting, not a portable submission carried across firms. Jorb AI's application agent tailors a CV and cover letter from your background to this posting and tracks the role alongside the rest of your applications. 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