Associate Level 1/Senior Associate

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 ISPL Chennai would be the extended team of Investment Operations team and responsible for delivering the services related to Security Master, Pricing, Benchmark, Collateral and Reconciliations processes which are currently under transition from BNP Paribas Asset Management Brussels S.A.

BNP Paribas Asset Management is part of BNP Paribas Group and is responsible for the process of managing and monitoring assets, on behalf of individual and corporate clients.  BNPP AM offers funds and mandates towards the clients.  These funds & mandates are managed by Portfolio Managers, who are based in the different locations across the globe. 

Job Title:

Associate level -1 / Senior Associate

Date:

Department:

AMO

Location:

Chennai

Business Line / Function:

Collateral Management

Reports to:

(Direct)

Grade: 

(if applicable)

NA

(Functional)

Number of Direct Reports:

NA

Directorship / Registration:

NA

Position Purpose

BNP Paribas ISPL Chennai would be the extended team of Investment Operations team and responsible for delivering the services related to Security Master, Pricing, Benchmark, Collateral and Reconciliations processes which are currently under transition from BNP Paribas Asset Management Brussels S.A.

BNP Paribas Asset Management is part of BNP Paribas Group and is responsible for the process of managing and monitoring assets, on behalf of individual and corporate clients.  BNPP AM offers funds and mandates towards the clients.  These funds & mandates are managed by Portfolio Managers, who are based in the different locations across the globe. 

Investment Operations is responsible for handling and monitoring all services, in order that the Portfolio Managers are able to manage daily their portfolios.  

Responsibilities

Direct Responsibilities

Collateral Management:

Daily Collateral scope

·                     Checking the exposure of the portfolio with corresponding counterparties and perform booking the trades and doing the reconciliation based on the receivables and payables with the counterparty.

Cash reconciliation

·                     Perform daily cash reconciliation between bank statements received from custodians and various Counterparties versus our position keeping tool and perform the daily collateral(Bilateral and Cleared) OTC scope within the stipulated time. Liaise with Counterparties, portfolio managers, service providers and various teams within Ops to maintain the accuracy as per the specification in our position keeping tool.  Update internal reports and monitor outstanding breaks in cooperation with Counterparties, custodians, accountants, clearers and teams within investment Ops.

Securities reconciliation 

·                     Perform daily position reconciliation between bank statements received from Counterparties, custodians and various clearing agents versus our position keeping tool.

·                     Check all cash and positions linked to OTC instruments

Basic Requirement

·                     Thorough understanding of all Capital market, Financial Instruments, Investment baking processes and above average accounting skills

·                     An understanding of a variety of OTC Instrument types including Swaps, futures and Forwards

·                     Ability to work independently, as well as in a team environment, prioritizes multiple tasks and meets strict deadlines

Technical Requirement

·                     Strong analytical skills, detail orientation, service commitment, solid organizational and interpersonal skills Trouble shooting skills set to have smooth BAU.

·                     Proficient in Microsoft Office Applications and strong MS Excel skills required

·                     Good verbal and written communication

Contributing Responsibilities

·                     Process accurate on collateral activities on a Global basis within given deadlines.

·                     Interact with both internal and external parties to resolve disputes and breaks with counterparties and clearing agents

·                     Query resolution in accordance with time frames set out in Client  SLA’s

·                     Constantly review procedures to keep up to date with the change in process.

·                     Manage all ad-hoc projects and new initiatives.

·                     Performing a range of daily, weekly, monthly reporting’s/ controls to ensure completeness of processing.

·                     Work with the counterparties to capture Collateral balance and exposures

·                     Resolve cash break and security break issues in a timely basis.

·                     Based on the experience, should able to identify the areas for improvements in the process and implement stringent controls and ensure operational excellence.

Client Focus

Complete commitment to provide professional and prompt responses to meet clients’ requirement.

Communication

Oral:

Written:

Team Work

Work effectively with team members to accomplish goals, exhibit high-level of respect to colleagues, display integrity in dealing with team members.

Continuous Improvement and Adaptation

Be innovative, embrace changes, and simplify the comprehensive areas without compromising on quality or timeline. Adapt continuous improvement as a culture.

Primary responsibilities

·                     BAU Excellence

·                     Client Focus

·                     Risk & Controls

·                     Team Work

·                     Learning & Development

Technical & Behavioral Competencies

·         Effective people and client communication

·         Innovation and Initiative

·         Flexibility & Adaptability

·         Integrity, Trust and Fairness

Specific Qualifications (if required)

·         1 to 3 Years of experience Collateral and reconciliation would be preferable.

·         Graduation / Post Graduation from the recognized University.

·         Specific interest or qualification in Mathematics is an added advantage.                

Skills Referential                                                           

Behavioural Skills: (Please select up to 4 skills)

Ability to collaborate / Teamwork

Ability to deliver / Results driven

Communication skills - oral & written

Ability to synthetize / simplify

Transversal Skills: (Please select up to 5 skills)

Analytical Ability

Ability to understand, explain and support change

Ability to develop and adapt a process 

Ability to develop others & improve their skills

Ability to anticipate business / strategic evolution

Education Level: 

 Master Degree or equivalent

Experience Level

At least 1 year

Other/Specific Qualifications (if required)