BNP Paribas is one of the best rated banks in the world. The group has a presence in more than 72 countries with more than 200,000 employees. It organizes its businesses into two main fields of activity: Retail Banking & Services and Corporate & Institutional Banking. In Europe, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP Paribas personal finance is the leader in consumer lending.
BNP Paribas was in search of a compensation solution to enable improved performance by aligning its employees with the organizational strategy. This meant that it needed a solution that would provide clear communication about compensation for all employees, something that was difficult to do with an in-house developed solution. The company also needed to manage complex long term incentive (LTI) processes, including deferred bonus and equity management processes for 20,000 employees.
BNP Paribas Personal Investors additionally had to meet internal and external compliance initiatives such as to comply with the Alternative Investment Fund Managers Directive (AIFMD) Remuneration Guidelines.
With beqom's Total Compensation Management software, the BNP Group manages executive compensation, deferred bonus and equity management processes, all within one integrated platform, ensuring that compensation processes are transparent and compliant with regulatory guidelines. The ownership of the beqom solution is in the hands of the business users, enabling BNP Paribas to simplify and administer complex compensation processes with flexibility and agility.
Employees can simulate their future LTI plan value by entering a virtual stock price. Managers can control compensation spending for investment managers, with the system calculating theoretical commissions that can then be adjusted by managers based on budget envelopes.
By adopting a unified approach to compensation, BNP Paribas has benefited from: