Associate Level 1

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 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 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:

BNP Paribas acts as a custodian bank for their clients which is a specialized financial institution responsible for providing securities services. It provides post-trade services (Clearing & Settlement) and solutions for asset owners, asset managers and broker-dealers. BNP has physical possession of its clients' financial assets. These could include cash, stock certificates, bonds, and other financial instruments and are responsible for safeguarding these types of assets

Job Title:

Associate Level 1

Date:

Department:

Custody

Location:

Chennai

Business Line / Function:

BSO

Reports to:

(Direct)

Grade:

(if applicable)

(Functional)

Assistant Manager

Number of Direct Reports:

Directorship / Registration:

NA

Position Purpose

The Custody – Corporate Actions Department is very important and critical process, of handling Corporate Actions for the clients globally. The Global custody processing in BNP Paribas Securities Services are segregated into Corporate Actions, Income and Tax for operational efficiency and accuracy. Corporate Actions are further divided into Mandatory, Voluntary and DVOP teams.

An Associate Level 1 in the CA department performs all the task of processing the daily BAU as per the Standing operating procedure.

Responsibilities

Direct Responsibilities

¡ Cross-checking information received with other data sources

¡ Reverting to local sub-custodians to clarify/solve any open issue.

¡ Analyzing the corporate event in order to anticipate any reporting or processing issues.

¡ Setting-up of financial information into the Custody system

¡ Collecting and relay any update related to the corporate event on an on-going basis.

¡ Processing the securities reconciliation with sub-custodians client positions at the different steps of the event.

¡ Checking eligible positions of  accounts within the local sub-custodian

¡ Checking that all eligible positions have been instructed at response deadline (for voluntary events only)

¡ Consolidating client instructions (for voluntary events only)

¡ Advising local market by sending instructions of participation to sub-custodian ((for voluntary events only)

¡ Checking that instructions of participation have been duly acknowledged by sub-custodian.

¡ Tracking of the payment date of the event in order to advise clients accordingly

¡ Processing payment of the event on client’s account upon recovery of cash and/or securities from the local sub-custodian

¡ Processing foreign exchange orders according to client’s set up.

¡ Processing any manual adjustment related to cash or securities in order to finalize the recovery process

¡ Justifying any cash or securities breaks to Control Teams

¡ is happening on periodic basis.

¡ Participate in Brain Storming Sessions and share the best practices and ideas with the peer groups and team members.

¡ Consistently evaluate and update documented procedures to ensure they are complete, accurate and current.

¡ Must be prepared to work in any shift supporting Asia/Americas/European business hours

Technical & Behavioral Competencies

¡ Strong knowledge in handling corporate actions and income related events for various instrument types      

¡ Expertise in Using Banking Software’s & overall awareness of using MS Word, Excel, PowerPoint etc.

¡ Able to clearly understand and envisage the SWIFT messages (MT564, MT565, MT567, MT568, MT599 etc). The Associate should read through the SWIFT message very comfortably and act on the amendments in the message ( Field - 23C: NEWM / REPL / CANC/ REVR etc)

¡ To create events for the respective teams (Mandatory, Voluntary, Income, DVOP & Tax) by analyzing and understanding the SWIFT messages with error free processing and high standards.

¡ Understanding the usage and implications of the Applications like Reflections, Intellimatch, MIDAS, and ISISET and apply it in daily BAU when required.

¡ Should be well versed in checking Client inbound and analyze whether the particular client / trade is eligible for the CA. If in case of any discrepancy, need to re-confirm with the ISISET application to check the status of trade.

¡ Need to perform the Entitlement and Eligibility reconciliation to forecast the payments and holdings in the future.

¡ Should be well versed with the Reflections especially with the functions like CMP, CCV,CCA,CTAK, CVVC etc

¡ Should be able to research and analyze the Nostri and Pivot breaks, then acting upon in resolving the breaks.

¡ Should be able to comfortably process the payments (Security & Cash) from MT 566 messages received without error and within specified time bound .

¡ Should be able to create instructions (Manual Instructions also) and deposit the message with due -diligence and accuracy.

Specific Qualifications (if required)

Skills Referential

Behavioural Skills: (Please select up to 4 skills)

Active listening

Adaptability

Transversal Skills: (Please select up to 5 skills)

Analytical Ability

Ability to understand, explain and support change

Education Level:

Master Degree or equivalent.

Experience Level

Beginner

Other/Specific Qualifications (if required)