DEC -Clearing
About BNP Paribas India
Solutions:
Established in 2005, BNP Paribas India Solutions is a
wholly owned subsidiary of BNP Paribas SA, European Union’s leading bank 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 10000
employees, to provide support and develop best-in-class solutions.
About BNP Paribas Group:
BNP Paribas is the European
Union’s
leading bank and key player in international banking. It operates in 65
countries and has nearly 185,000 employees, including more than 145,000 in
Europe. The Group has key positions in its three main fields of activity:
Commercial, Personal Banking & Services for the Group’s commercial &
personal banking and several specialised businesses including BNP Paribas Personal Finance and Arval; Investment &
Protection Services for savings, investment, and protection solutions; and
Corporate & Institutional Banking, focused on corporate and institutional
clients. Based on its strong diversified and integrated model, the Group
helps all its clients (individuals, community associations, entrepreneurs,
SMEs, corporates and institutional clients) to realize their projects through
solutions spanning financing, investment, savings and protection insurance.
In Europe, BNP Paribas has four
domestic markets: Belgium, France, Italy, and Luxembourg. The Group is
rolling out its integrated commercial & personal banking model across
several Mediterranean countries, Turkey, and Eastern Europe. As a key player
in international banking, the Group has leading platforms and business lines
in Europe, a strong presence in the Americas as well as a solid and
fast-growing business in Asia-Pacific. BNP Paribas has implemented a Corporate Social Responsibility
approach in all its activities, enabling it to contribute to the construction
of a sustainable future, while ensuring the Group’s performance and stability
Commitment to Diversity
and Inclusion
At BNP Paribas, we passionately embrace diversity and are
committed to fostering an inclusive workplace where all employees are valued,
respected and can bring their authentic selves to work. We prohibit
Discrimination and Harassment of any kind and our policies promote equal
employment opportunity for all employees and applicants, irrespective of, but
not limited to their gender, gender identity, sex, sexual orientation,
ethnicity, race, colour, national origin, age, religion, social status,
mental or physical disabilities, veteran status etc. As a global Bank, we
truly believe that inclusion and diversity of our teams is key to our success
in serving our clients and the communities we operate in.
About Business
line/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.
Job Title:
Senior Associate
Date:
2024
Department:
DEC- Clearing
Location:
Bengaluru
Business Line /
Function:
Derivatives Execution
& Clearing Operations
Reports to:
(Direct)
Team leader/Assistant
Manager
Grade:
(if applicable)
NA
(Functional)
Number of Direct
Reports:
NA
Directorship /
Registration:
NA
Position Purpose
The candidate
would be Part of Derivative Execution and clearing team, working along with
the DEC Market Fees Reconciliation and Brokerage team.The role would
concentrate To clear and allocate exchange traded derivatives trade on behalf
of the client. Ensure all top day trades are cleared and reconciled against
cleaning house by the end of day.
The role requires a high level of attention to detail, to ensure BNPP
SA’s external end client fees are validated and any required corrections or
amendments are processed accurately and according to procedure. The candidate
would be working with large volumes of trade data so should be comfortable
using Excel to summarize, as well as to drill down and independently
investigate any discrepancies that may arise.
Work effectively
with team members to accomplish common goals. Generate creative solutions to
problems, Ability to plan work ahead and to prioritize workload in an
organized manner.
Undertake a variety of
financial and non-financial tasks in order to help guarantee the company’s
revenues; handle the processing of incoming payments along with the issuing
of necessary paperwork.
Responsibilities
Middle-office
- Be the 1st point of contact for all
counterparties (clients, brokers, CCPs) with regards to trade
allocation/clearing - Top day trade monitoring and allocation for
involved exchanges to ensure STP trade flow - Follow up of pending trades closely and ensure
all clients trades are booked at T day - Perform timely reconciliation between internal
systems and Exchanges ones - Identify, assess, monitor and control the risks
of the activity
Back office
- Clearing Houses vs Back Office Reconciliations
(margins, premiums , positions, initial margins) - Ensure that reports sent to clients are reliable
- Manage daily payments and intra-day margin calls
- Ensure that all clients related issues, queries
and request are addressed in an efficient, accurate and timely manner - Monitoring of corporate action events impacting
the underlying contracts - Follow up of instructions settlement processing
- Maintenance of the accountancy balance (Market
fees reconciliation, CCP vs client cash flows…) - Participate in projects to drive the business
forward to deliver internal or market system releases (Market releases,
MO/BO tools enhancements…) - Monitoring position for T and t+1
- Process the reconciliation vis-à-vis the
clearing house (trades, position, premium, Initial margin, variation
margin, fees etc.) for various markets across globe. - Follow-up & solving client queries
- Adhere to daily checklist to ensure controls are
followed. - Contributing ideas to improve the process by
identifying appropriate control measures. - Ensure importance is given to four eye validation
for each activity - Managing BAU emails/ phone calls related to
Listed Derivatives - Ensure proper documentation for the purpose of
risk and audit trail - Abiding the Service Level Agreements.
- Ability to work independently, as well as in a
team environment, prioritizes multiple
Tasks and meets strict deadlines.
- Highlight any unresolved open items to the
respective process Managers.
Risk control
- Monitor activity progress against the goals and
take appropriate corrective action as and when it is required - Control and ensure that all tasks are processed
accurately and on a timely manner - Identify risk, suggest implementation of a first
level of control.
Contributing Responsibilities
- Deal with client and brokers issues escalated by
the team and share it with the management when appropriate - Participate in client visits (if required) and
conference calls - client focus
- Collaborate /Liaise with other BNPP
teams/stakeholders. - Ensure that procedures are updated and validated
on a timely manner - Perform and updated the status of the assigned
tasks in the daily task checklist. - Breaks analysis and dispute resolution
Technical &
Behavioral Competencies
Reconciliations –
Exchange Fees, Market Fees, T+1
- Strong Communication skills required for an
effective liaison with counterparties and internal stakeholders to the
reconciliation process. (Middle offices, marketers, traders, credit,
compliance and legal) - Knowledge of Exchange Traded derivative products
/ETD Clearing. - Experience of the commodity exchanges’ and CCPs’
platforms – preferable though not required - Flexibility to accommodate business requirements
and working hours. - Ability to use Excel at an intermediate level –
essential - Excellent numerical and analytical skills –
essential - Ability to analyse large volumes of data
- High attention to detail and quality focused
- Be comfortable with escalation and managing issues
as they arise - Forward thinking and proactive with the ability to
question process - Ability to work under pressure
- Team Player
Specific Qualifications (if required)
- Bachelor’s degree from a college or university
- Strong Communication skills and client focus
oriented - Fundamental understanding of clearing /Futures
& Options markets. - Knowledge of all Microsoft Office applications
(Excel, Word, PowerPoint, Access)
Skills Referential
Behavioural Skills: (Please select up to 4
skills)
Attention to detail /
rigor
Organizational skills
Personal Impact /
Ability to influence
Critical thinking
Transversal Skills: (Please select up to 5 skills)
Ability to understand,
explain and support change
Analytical Ability
Ability to develop and
leverage networks
Ability to understand,
explain and support change
Choose an item.
Education Level:
Bachelor Degree or
equivalent
Experience Level
4-7 years
Other/Specific
Qualifications (if required)
NA