Job Description – Reconciliations & Control
About BNP Paribas Group:
BNP Paribas is a top-ranking bank in Europe with an international profile. It operates in 71 countries and has almost 199 000 employees. The Group ranks highly in its three core areas of activity: Domestic Markets and International Financial Services (whose retail banking networks and financial services are grouped together under Retail Banking & Services) and Corporate & Institutional Banking, centred on corporate and institutional clients. The Group helps all of its clients (retail, associations, businesses, SMEs, large corporates and institutional) to implement their projects by providing them with services in financing, investment, savings and protection. In its Corporate & Institutional Banking and International Financial Services activities, BNP Paribas enjoys leading positions in Europe, a strong presence in the Americas and has a solid and fast-growing network in the Asia/Pacific region.
About BNP Paribas India Solutions:
Established in 2005, BNP Paribas India Solutions is a wholly owned subsidiary of BNP Paribas SA, a leading bank in Europe with an international reach. With delivery centers located in Bengaluru, Chennai and Mumbai, we are a 24×7 global delivery center. India Solutions services three business lines: Corporate and Institutional Banking, Investment Solutions and Retail Banking for BNP Paribas across the Group. Driving innovation and growth, we are harnessing the potential of over 6000 employees, to provide support and develop best-in-class solutions.
About Businessline/Function :
Global Market Securities Settlements team ensures that Security transactions (Bonds, Equities, Complex Securities, ETF, SLAB, Repo..) and positions registered in the books under CIB ITO’s mandate, match the commitment actually taken with counterparties within a secure setup, in accordance with Group and Regulatory Policies and/or contractual agreements.
Within the Securities Settlement Department, the main processes include pre & post settlement activities, clearing, and event-related accounting for securities deemed in scope
Manager (Team Lead) – EQD EMEA/NY
COCE Product Control
Business Line / Function:
COCE Product Control – Reconciliation & Controls Team (EMEA/NY)
Number of Direct Reports:
Directorship / Registration:
Primary responsibilities of the team is:
1. To perform trade validation for all daily Cash Equities booking and facilitate the downstream feeding for Settlement
2. To perform as an independent control team to strengthen all the control within Global Market Operations
3. To monitor HK traders short sell position and highlight positions accurately to ensure its funded in timely manner to avoid financial losses
4. Perform Control reports and activities identifying trading violations on restricted currencies and Technical counterparties activities
5. To perform day-to-day trade & position reconciliation and analyze all the breaks arisen from the related reconciliation reports to ensure proper control and measure the associated risks on all outstanding breaks.
The team works closely with other Trade Support teams and Trading to ensure timely communication for any breaks identified.
Main drivers are client service quality, independent control, operational risk safety and cost efficiency.
Position guarantee –
Has the responsibility make sure positions are in line & guarantee that positions in booking systems are correct.
Is the reference for position validation for P&L, Process & IT teams for migrations or rebooking & at any time for trade support, front office, & back office
Team is in charge of position controls & uses all the reconciliations tools available.
The reconciliation is exhaustive & done on a daily basis.
Assigned reports must be checked & analyzed every day.
ROLES AND RESPONSABILITIES
Accountable for end-to-end transaction management lifecycle for their respective client coverage.
Trade capture, settlement exceptions and cash management.
Collaborate with various internal teams, such as trade processing, pre-matching, settlement and margin to process transactions and resolve any exceptions on a timely manner.
Respond and resolve client inquiries on a timely manner.
Perform root cause analysis for respective clients in order to increase straight through process flows.
Establish and maintain relationships with high profile hedge fund clients.
Work as part of the global team performing follow the sun hand offs to ensure a smooth global coverage for global clients.
Partner with account management teams to help on changing client behaviours where required to smother processes.
Collaborate with technology/support team to help identify internal and external facing technology improvement opportunities.
Deep understanding of UK client asset protection (CASS) and AMF custody rules (derived from MiFID).
Contribute in all control plan protocols according to the local operational risk policies.
The resource will be allocated to one of the areas of operation, high-level described below, although to be cross-trained end-to-end at one point of his/her mandate.
Break Analysis – Manager (Team Lead) – EQD EMEA/NY is responsible for
Making sure completion of assigned tasks of breaks, Communicating the breaks as soon as possible to the related teams (trade support, FO, BO) for action/correction
Providing a complete, detailed & pertinent analysis to let the trade support immediately do the appropriate action/correction.
Trade Validation : Listed Securities & OTC Vanillas
Monitoring & management of the task assigned in FO to BO trades for Asian listed stocks, warrants & bonds
Reducing lead time & improve the responsiveness for break analysis & the related actions with Trading /other FOS teams
Should be single point of contact for task assigned with regards to Operational breaks & position controls
Tasks embedded to fulfill those objectives
Broker Confirmations checking within the day
Trade reconciliation in Fire & Calypso on T / Report & fix breaks with Trading & FOS teams
Validation of Fire reconciliation & Feeding into Calypso – Exceptions management
Perform Breaks Validation in Intellimatch// Analysis & follow up.
Checking all OTC vanilla options trades are integrated in FO systems & validate on T
Ensuring all SWS trades are booked in FO system & are consistent
Reconciliations Improvements –
Is constantly concerned by ensuring that reconciliation tools run correctly & provide reliable results.
Making the reconciliation tools evolve to fulfill with production needs –> new systems, new products, and specific request from trade support.
Extending the global area of reconciliations in order to reduce operational risk where applicable.
Implementing/enhancing reconciliation tools to fit with trade support needs.
Transversal involvement –
Is in charge of all reconciliation assigned & is indeed involved in the process
Ensure all the STP process in place are performed efficiently & effectively in a timely manner.
Take Initiatives, communicate with BO & other PCA sites on the enhancement & development of new products STP process
Completion of ORUS on Daily basis
Technical & Behavioral Competencies
- Strong Preference to have MS and programming skills (VBA, Excel, Access) would be a significant plus.
Skills and competencies
- Analytical mindset: Aptitude to understand the F2B workflows and handle exceptional issues with logical mindsets to communicate with Front Office
- Organized & good resistance to stress: Excellent time management and good positive resistance to stress are compulsory.
- Attention to detail: Escalate in timely manner, highlight any abnormalities
- Innovation and initiatives (Think “outside the box”): Demonstrate willingness to constantly improve the status quo. Understand well the processes & suggest innovative ideas.
- Self-discipline & autonomy: Have a constant “delivery on time” mindset, on the daily production.
- Adaptability & Change Management: Ability to easily adapt to new situations (new booking systems, new products, new activities to manage…) as this is a constant changing environment
- Strong Client Focus: Capacity to work with various clients. Need to be sensitive about the rationale of their requests and be proactive when replying to them. Work as partnership while consistently keeping an independent mindset.
- Escalation & Reporting process: Internal rules of reporting and escalation to Ops and FO need to be known & applied.
Specific Qualifications (if required)
- Strong Preference to have Bachelor or Master Degree on Economics, Mathematics or Finance.
- Strong Equity derivatives products knowledge including the F2B workflows and the product event management.
Creativity & Innovation / Problem solving
Attention to detail / rigor
Ability to collaborate / Teamwork
Ability to understand, explain and support change
Ability to develop and adapt a process
Ability to manage a project
Bachelor Degree or equivalent
At least 7 years
Other/Specific Qualifications (if required)