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 24x7 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 Business line/Function :
The Collateral Management Group compares the Net Present Value of the portfolio of trades between BNP Paribas and its counterparties on a daily (or as specified) basis and ensure that this exposure is sufficiently collateralized.
01 – Apr - 2021
Business Line / Function:
Global Market Operations
Number of Direct Reports:
Directorship / Registration:
Client Clearing Group manages Collateral for all its clients that clear trades through centralized clearing houses. The group generates/sends margin calls to its clients on behalf of clearing houses in which they hold account. The group is responsible for ensuring that BNP is covered in terms of Credit Risk by issuing Intraday Calls as per notification from clearing houses and Prefunding client accounts as per market fluctuation. The group also reconciles Start of day balances with clearing house and accordingly transfers funds to ensure that there is no impact on clients trading activities throughout the day. Apart from call and bond bookings the group also looks after Start of Day activities which involves sending Margin Summary Notices to clients. The process requires individually monitoring and resolving breaks that occur on each component of Margin Summary Notice and ensuring that Margin Call notices generated are in line with balances published by all the clearing houses that we deal with. This is an extremely time sensitive activity and requires liaising with IT Support, Data Storage, Legal, Middle Office and Clearing Houses.
- Performing Data Quality analysis, Monitoring batches that generate cash flows, interest, bond prices, and other components of a Margin Call.
- Taking ownership to Investigate on disputed calls and liaising with client, MO and legal on various aspects of disputed margin calls.
- Review and resolved failed/missed client payments.
- Review and resolve all bond fails by liaising with client, RM and Settlement Team.
- Being a first point of contact for escalations.
- Ensure interest is booked within a month and that there are no instances of carry forward interest.
- Investigating on Interest discrepancies.
- Contributing on Automation calls and Meetings by actively participating.
- Testing new functionalities.
- Come up with tactical solutions to ensure calls are issued on time.
- Review and understand Business Documents raised for automations.
- Generate monthly client KPIs and publish it to stakeholders.
- Participate in stakeholder calls and present team performance.
- Identify open risk items in the process and look for solutions to overcome those.
- Create and maintain training plans for New Joiners.
Technical & Behavioral Competencies
- Strong Communication skills required for an effective liaison with counterparties and internal stakeholders to the reconciliation process. (Middle offices, marketers, traders, Risk, Clearing Houses, compliance and legal)
- Knowledge of derivative products (Credit, Interest Rate, FX, Equities) and Trade life cycle.
- Experience in clearing processes is favorable.
- Basic Excel skills required.
- Advanced Presentation skills required
Specific Qualifications (if required)
Behavioural Skills: (Please select up to 4 skills)
Attention to detail / rigor
Personal Impact / Ability to influence
Transversal Skills: (Please select up to 5 skills)
Ability to manage a project
Ability to develop and leverage networks
Ability to develop others & improve their skills
Ability to inspire others & generate people's commitment
Bachelor Degree or equivalent
At least 3 years
Other/Specific Qualifications (if required)