BNP Paribas, one of the major banks in Europe with a strong presence throughout the world, is a leader in Global Equities & Commodity Derivatives. As part of this activity, the Middle-Office is an important component, with teams established in the major financial places (New-York, London, Tokyo, Hong-Kong and Paris). The main missions of this team:
- Ensure all client cash PB and Swap trades and booked.
- Ensure all client PB transfers are booked.
- Ensure all trades and transfers are matched and/or settled.
- Ensure all client cash flows are settled, and Swap resets are agreed.
- Act as dedicated point of contacts for Prime Brokerage clients
- Partner with the front office to represent the Prime Brokerage franchise.
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.
- Trade Comparison
- Clean up on all DTC unaffirmed Prime Brokerage trades, by liaising directly with Prime Brokerage Clients and executing broker’s Middle Office and Settlements teams.
- Clean up all unmatched international (i.e., non-US trades), by liaising directly with Prime Brokerage Clients and executing broker’s Middle Office and Settlements teams.
- Fail Monitoring
- Track and resolve all open fails, by liaising with Prime Brokerage clients, internal settlements teams, executing broker’s Middle Office and Settlements teams, corporate actions and stock loan trading desk and operations.
- Trade Amendments and Static data updates
- Make appropriate amendments and corrections to US and non-US trades to amend misbookings.
- Request client, executing broker specific updates to static and referential data to ensure BNP Prime Brokerage and Arb RM are instructing with accurate settlement information vs the specific legal entity of the execution counterparty.
- Client Service / Customer Support
- Act as an operational point of contact for both external Prime Brokerage clients and internal departments to resolve open items related to unfirmed / unmatched trades, client reports, fails, static data, and any other operational issues.
- Synthetic Prime Brokerage
- Provided day to client service for client swap trades. Agree cash flows, calculate resets, monitor client trade files, ensure swaps and hedges match end of day, and follow up on client reporting breaks due to price differences, dividends, corporate actions and referential data issues.
- Work with Front Office, P&L, Back Office, third party vendors, and Application Support to resolve operational and booking issues.
- Monitoring of operational risk by providing proper Front Office Support and ensuring the risk of fraud is set to a minimum.
- Ensure accurate trading positions in FO system, the daily goal is to correct all discrepancies originated by system bugs, input mistakes, information loss.
- Manage real-time trade booking exceptions internally between the trading desk and sales force.
- Assist with project initiatives designed to improve and streamline existing processes.
- Mitigate risk by reconciling discrepancies between the trading desk’s positions and the firm’s books and records.
- Participate / assist in event processing and have a full understanding of the life cycle of a trade.
- Collaborate with technology teams on the implementation of process flow improvements and efficiencies.
- Contribute to quick resolution of trade issues by liaising with various groups including Front Office, Back Office, IT Team, P&L Controllers and Client Services
Minimum Required Qualifications:
- HOURS 11:00 AM to 9:00 PM
- BS – Economics, Finance, Accounting or other related field of study.
- At least 2-5 years of relevant financial industry experience.
- Previous experience (2-5 years) in a Cash or Synthetic Prime Brokerage Middle Office environment or prior experience in working with Trading/ Sales in a financial institution.
- Proficient in Microsoft Office, especially Excel
- Knowledge of various financial markets.
- Strong sense of risk and critical thinking.
- Maintains high quality of customer service when communicating with clients.
- Display good relationship qualities, team spirit, and ability to work cross-functionally.
- Proactive and displays willingness to take initiative.
- Ability to effectively listen and communicate.
- Maintains acceptable response to stress.
- Rigorous and well organized
- Strong qualification level in equity derivative markets. Financial market knowledge of derivatives products including TRS, ETFs, Equity Swaps, etc.
FINRA Registrations Required:
- Not Applicable
CFTC Swap Dealer Associated Person (if yes, NFA Swaps Proficiency Program is required):
- Not Applicable
SEC Security-Based Swap Dealer Associated Person:
- Not Applicable
The expected starting salary range for this position is between $110k to $129k 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.
In addition, our comprehensive benefits package aims to support our employees in various aspects of their lives. From healthcare and wellness programs to retirement plans and childcare services, we prioritize the well-being and growth of our employees. Our benefits include medical, dental and vision coverage, a 401(k) Savings Plan, backup childcare, life, accident and disability insurance, mental health support and paid time off. Additional details about our benefits offerings, inclusive of eligibility for a discretionary bonus, will be provided during the hiring process.
This application will remain open until a candidate has been selected for the role. There is no specific application timeline.
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. The bank employs over 3,500 people in offices in the US across 10 states including New York, Jersey City, Chesterbrook, PA, San Francisco, Boston, Chicago, Denver, Miami, and Washington, DC. 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.
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.