Job Description: Manager – Clearing & Compression
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 Businessline/Function :
Product Control is part of COCE (Client Operating Centre of Excellence), performing multiple Middle Office functions. Product Control have 6 verticals - P&L and Valuation Controls, OTC Trade Validation, Securities Trade Validation & Documentation, OTC Documentation, Trading & Portfolio Control and Position Management. Team works very closely with Trading, Sales, Business Managers and various FtB teams like Back Office, Regional Finance and COO community.
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Job Title:
Assistant Vice President
Date:
2024
Department:
Position Management
Location:
Bengaluru
Business Line / Function:
Clearing & Compression
Reports to:
(Direct)
VP
Grade:
(if applicable)
NA
(Functional)
Number of Direct Reports:
Nil
Directorship / Registration:
NA
Position Purpose
Purpose: As a member of the Clearing and Compressions Middle Office, you will work as part of a wider Product Control function, with responsibility for trade clearing and compression, CCP margin bookings, and static data updates and approval. The activities done by the team perform a vital role optimising the Banks’ balance sheet and counterparty risk profile, whilst ensuring that relevant regulatory requirements are met.
Main drivers are client service quality, independent control, operational risk safety and cost efficiency.
Responsibilities
Direct Responsibilities
· CP Margin bookings
· Weekly Credit Backloading cycles (ICE, LCH)
· Monitoring intraday clearing of Credit and Rates trades
· Rates portfolio reassignments
· Coordination of internal trade compressions
· Daily and ad-hoc static data requests
· 3rd Party vendor compressions (Rates, FX, Credit)
· Monitoring of team mailboxes, ensuring that all queries are resolved/assigned promptly
· Escalate issues to Senior Analyst and Manager where appropriate
· Creation and update of procedures/SOPs
· Challenge processes as part of a continuous improvement culture
· Raise IT requests for system enhancements and/or bug-fixes when required
· Work cooperatively with other teams within Product Control to reduce operational risk and maintain the highest level of support for our clients across the business
· Build and maintain good working relationships with other internal clients such as trading, sales, business management and back office teams
· Participate in projects as requested by Manager or Senior Analyst
· Be fully autonomous on all analyst tasks, whilst training on Senior Analyst tasks and responsibilities
Contributing Responsibilities
Contribute to the Permanent Control framework.
Respond and resolve queries on a timely manner.
Technical & Behavioral Competencies
Technical Knowledge
· Relevant experience in a Trade Support or Middle Office role
· Ability to work constructively within a team
· Knowledge of Credit and Rates products and their trade lifecycles
· Ability to manage pressure and meet deadlines and objectives in a dynamic environment
· Analytical and Organizational Skills
· Results Orientation
· Effective written and verbal communication skills
· Time-management and prioritization
· Excel skills to an intermediate level
· High degree of interest in product and process issues affecting the department
· Demonstrate proactivity, transparency and accountability for identifying and managing risks
· Support and foster a culture of good conduct
· Consider the implications of your actions on colleagues, partners and clients before making decisions, and escalate issues to your manager when unsure
Skills and competencies
- Analytical mindset: Aptitude to understand the F2B workflows and handle exceptional issues with logical mindsets to communicate with Front Office
- Organized & good resistance to stress: Excellent time management and good positive resistance to stress are compulsory.
- Attention to detail: Escalate in timely manner, highlight any abnormalities
- Innovation and initiatives (Think “outside the box”): Demonstrate willingness to constantly improve the status quo. Understand well the processes & suggest innovative ideas.
- Self-discipline & autonomy: Have a constant “delivery on time” mindset, on the daily production.
- 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
- Strong Client Focus: Capacity to work with various clients. 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.
- Escalation & Reporting process: Internal rules of reporting and escalation to Ops and FO need to be known & applied.
Specific Qualifications (if required)
Strong Preference to have Bachelor or Master Degree on Economics, Mathematics or Finance.
Skills Referential
Behavioural Skills:
Creativity & Innovation / Problem solving
Attention to detail / rigor
Client focused
Ability to collaborate / Teamwork
Transversal Skills:
Analytical Ability
Ability to understand, explain and support change
Ability to develop and adapt a process
Ability to develop and leverage networks
Ability to manage a project
Education Level:
Bachelor Degree or equivalent
Experience Level
Atleast 10 years
Other/Specific Qualifications (if required)
