In Asia Pacific, BNP Paribas is one of the best-positioned international financial institutions with an uninterrupted presence since 1860. Currently with over 18,000 employees* and a presence in 13 markets, BNP Paribas provides corporates, institutional and private investors with product and service solutions tailored to their specific needs. It offers a wide range of financial services covering corporate & institutional banking, wealth management, asset management, insurance, as well as retail banking and consumer financing through strategic partnerships. .
Worldwide, BNP Paribas has a presence in 68 markets with more than 193,000 employees. It has key positions in its three main activities: Domestic Markets and International Financial Services (whose retail-banking networks and financial services are covered by Retail Banking & Services) and Corporate & Institutional Banking, which serves two client franchises: corporate clients and institutional investors. Asia Pacific is a key strategic region for BNP Paribas and it continues to develop its franchise in the region.
* excluding partnerships
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.
BNP Paribas Prime Brokerage (PB) offers an impressive breadth and depth of services, providing clients with a fully integrated front-to-back solution and a global approach for financing, execution and servicing.
Prime Services combines the historical strength in traditional Prime Brokerage services – top rated in Securities Lending, Client Service, Capital Introduction and more – with the innovative DNA of the GECD franchise. This combination allows the anticipation of client needs and development of solutions to the problems they face.
Within this business, the PB Client & Trade Service team is part of Global Market Operations and is dedicated to provide a premium service to PB clients and Front Office acting as the single point of contact regarding post-trade management and daily operational activity across all asset classes. By leveraging the synergy from client services and trade support functions, the team is also coordinating production & issues solving with all internal Operations departments aiming to be more client-focus and to improve turnaround time, services quality and client relationship management.
Teams based in London, New York, and Hong Kong provide seamless solutions in multiple asset classes, ensuring clients benefit from local support and expertise as well as proactive management of their issues.
Is the role SEC SBSD Associated Person (employment questionnaire and background checks required; their outcomes need to be validated by an authorized representative of the bank)? No.
Is the role SEC SBSD Associated Person Supervisor? No.
Product Scopes: CFDs, Equity Swaps, and P-notes
Its primary responsibilities are
• To book and follow up all the trade operations instructed by hedge fund clients
• To be the middleman to co-ordinate all information from client and Front-to-Back to ensure smooth processing and settlement is properly performed
• To perform day-to-day core trade support functions to Trading including trade validation, late trade booking, trade amendment and cancellation
• To handle post trade allocation for Synthetic Prime Brokerage clients
• To handle any post-trade events such as corporate action adjustment, secondary event booking and notification
• To perform as an independent control team to strengthen all the control within Global Market Operations and to follow the escalation rule
• To assist, work closely and have frequent contact with Front Offices (Sales, Trading, Business Managers, Relationship Managers) or with the clients’ fund administrator or clients’ operation on any on-boarding process, ad-hoc requests and handle queries in a timely manner
• To ensure all information reported in the client portfolio are accurate and verified.
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.
Trade Booking, Amendment & Validation
• Create and maintain swap templates
• Book late trade in Trade repository Systems
• Validate trade in Trade repository Systems
• Amend or cancel trade in Trade repository Systems post trade date
• Reconciling incoming trades into the matching platform (i.e. Traiana), and working with client, brokers and trading desk to reconcile miss-matches to ensure trades are booked on trade date
• Perform daily reconciliations, internally (BO, finance..etc) and externally (with clients), and explain the breaks
• Perform FO/MO reconciliations between Trading End of Day books and morning data in Trade repository Systems
• Check FO/BO reconciliations are performed and breaks corrected in Trade repository Systems in a timely manner (if applicable & not covered by reconciliation team)
• Investigating positional breaks, trade miss-matches, confirmations/settlements breaks etc.
• Create, review, resolve and communicate all internal reconciliation reports and systems.
Trade Lifecycle Events
• Provide full coverage for corporate actions. Proactively reaching out to clients on up and coming corporate actions, and any pending settlement/cash issues.
• Booking in Trade repository Systems for Corporate Action events
• Communicating all Corporate Actions for both hedge and swap
• Handle daily queries from other teams (such as BO and confirmation) and provide necessary information without delay
• Post trade allocation for Synthetic Prime Brokerage clients (Familiar with Agency DMA Cash workflows)
• Compute and notify trade events (Early Termination, coupons....)
• Rolling and terminating SWAPS before maturity.
• Create, analyse and communicate all KPI’s
• Participate to global projects related to BNPP PB processes improvements
• Participate to local projects related to systems migrations. Identify issues, raise enhancements and contribute in testing of requirements
• Active follow up on updating procedure documentation
• Bring solutions to new business initiatives for development
• Propose process improvements to improve client journey.
• Contribution to perform supervision on the outsourced services (if any).
• Bring Direct contribution to BNPP operational permanent control framework
• Minimize operational failure, including but not exclusively the risk of fraud by helping to devise and by implementing sufficient regular controls
• Ensure appropriate escalation to management and/or permanent control (or compliance as appropriate) as soon as an issue is identified.
• Comply with internal and external regulatory and compliance requirements
• Comply with the BNPP standards of Code of Conduct
• Comply with the BNPP IT Security policies
• Anti-Money Laundering / Financial Sanctions “AML/FS”) related duties: Operations are an integral part of the control framework including for AML/FS topics. In that respect, in performing your role you are expected to ensure adherence to AML/FS related Group Policies and execution of associated operational controls, and to promptly escalate any resulting hit for analysis and decision.
Technical & Behavioral Competencies
• Drive for results – Delivers high quality work.
• Risk awareness – Demonstrates a good awareness of operational risk management. Always considers risk in his/her daily activities and abides by the operational responsibilities, where relevant.
• Corporate role model, integrity & ethics – Acts with discipline and high ethical standards.
• Team player & cross cultural awareness – Works effectively in a team. Collaborates and shares information and solutions with colleagues, with other teams and stakeholders.
• Client focus – Sees stakeholders as well as external clients as customers.
• Not afraid to question processes and current system flows.
Essential Personal Skills
• Diligence - Displays dedication and prioritises problems by considering the impact on the business; identifies quick-wins.
• Resilience - Stays calm and positive, controls his/her emotions in conflict or any situation of intense stress (due to market, time or pressure).
• Communication (Active listener and clear communicator) - Communicates clearly. Communicates pro-actively with management, escalating issues as necessary. Ability to deal confidently with a range of personnel including management.
• Innovation - Thinks laterally to identify other sources of useful information and sees ways around obstacles and barriers.
• Proactivity - Self-starter with ability to work effectively with minimum supervision and detail oriented to ensure a quality service is provided.
• Structured – Ability to undertake structured analysis of a problem, identify key pain points and propose / implement pragmatic solutions rapidly.
Experience and Specific Qualifications (if required)
• A thorough understanding of financial markets and product. Strong equity derivatives knowledge (including the Front-To-Back workflows and the product event management)
• At least 6-8 year of experiences in PB industry in Trade Support or Operations role (with equity background) is essential
• Proficiency in Excel, with programming skills (VBA, Excel, Access) preferable
• Experience with Traiana and related 3rd party products advantageous
• Good influencing and relationship-building skills.
• Fluency in English, both and written communication and interpersonal skills.
• Pro-active in general, taking own initiatives to prevent risks/issues.
• Ability to work well under pressure and take initiative.
• Solid work ethic and high levels of motivation.
• Strong Client Focus
– Capacity to work with various clients with strong client services orientation. 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.
• Analytical mindset
– Aptitude to understand the Front-To-Back workflows and handle exceptional issues with logical mindsets to communicate with Front Office
• Organized & good resistance to stress
– This is a much fast paced dynamic environment; therefore excellent time management and good positive resistance to stress are compulsory. Required to work independently and with ability to multi-task and cope with changing priorities.
• Accuracy & Attention to detail
– Ability to ring the bell for any abnormal trade pattern and escalate in timely manner
• Innovation and initiatives (Think “outside the box”
) – Proactive/ Demonstrate willingness to constantly improve the status quo. Understand well the processes in place and evaluate if needed, alternative options to do things better with a cost - benefits / ROI approach and to execute change.
• Self-discipline & autonomy
– Have a constant “delivery on time” mindset, both on the daily production and on the projects handled. Ability to work on its own with little supervision.
• Flexible, 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
• Escalation & Reporting process
– Internal rules of reporting and escalation to Operation and FO need to be known & applied. The team member also needs to report any sensitive information/issues and escalate immediately to their management.