Job Title : AVP – FXMM & OTC Derivatives
Department: Markets Operations ( FXMM‑OTCD)
About Business line/Function: The FX MM OTC business line drives the origination, execution and post‑trade processing of all over‑the‑counter foreign‑exchange and money‑market transactions across the bank’s global client base. It delivers end‑to‑end trade lifecycle services—including confirmation, collateral management, DVP settlement and exception handling—while adhering to the highest standards of risk control, regulatory compliance, and operational efficiency. Leveraging a unified technology platform and a worldwide network of clearing partners, the team ensures seamless, timely and secure settlement outcomes that underpin BNP Paribas’s liquidity and pricing capabilities in the FX‑MM markets.
Position Purpose:
The FXMM Derivative Back‑Office is responsible for the day‑to‑day settlement of derivative products, Fixed income products and money‑market instruments. The role combines 25 % people‑management with 75 % “business‑as‑usual” operational delivery, ensuring that all trades are processed efficiently, accurately and in line with regulatory and internal policy requirements. Team operates in close collaboration with marketers, sales and other internal function teams (APAC) to offer client-first post trade services.
Responsibilities
Direct Responsibilities
- Ensuring all trades are instructed, matched & settled on a timely basis
- Monitoring of failing trades & updating system with details of reason for fails , Reducing fails and/or potential fails by means of pairing off or offering partial for deliveries
- Cash management related with funding trades
- Knowledge & creation of MT103, MT202 Payment and MTMX Messages.
- Settlement of Repo and Bonds transactions and associated products in a timely and cost effective manner
- Process payments for value‑date and value‑date ‑ 1; ensure all payments clear.
- Ensure timely processing and approval of corporate/inter‑bank trades.
- Execute trade settlement with on‑shore/off‑shore clients.
- Review critical‑control reports for manual settlement/processing and perform end‑of‑day reconciliations.
- Manage cash‑funding related to trade settlements.
- Troubleshoot operational issues and resolve them promptly.
- Assist team members with daily operational requirements.
- Ensure compliance with regulatory requirements, internal policies and procedures.
- Develop and maintain strong relationships with internal stakeholders (traders, sales, risk, etc.).
- Monitor and analyze key performance indicators (KPIs) to identify improvement opportunities and drive operational excellence.
Contributing Responsibilities
- Support people‑management activities (coaching, performance reviews) for team.
- Participate in continuous‑improvement initiatives and process‑optimization projects.
- Contribute to knowledge‑sharing and training sessions within the wider Operations community.
- Liaise with technology teams on system enhancements and automation opportunities.
Technical & Behavioral Competencies
- Deep knowledge of FXMM,Fixed Income/Bonds/REPO and OTC Derivatives products and settlement processes.
- Proficiency with SWIFT messaging (MT103, MT202, MTMX) and manual payment creation/authorization.
- Strong understanding of regulatory frameworks and risk‑management principles applicable to derivatives and money‑market trades.
- Ability to perform EOD reconciliations, cash‑management, and control‑report analysis.
- Experience with operations technology/systems (e.g., settlement platforms, treasury management systems).
- Excellent analytical & problem‑solving abilities.
- Strong communication & interpersonal skills to build relationships with internal and external stakeholders.
- Ability to lead, coach and develop a small team in a fast‑paced environment.
- High attention to detail and commitment to accuracy and compliance.
- Resilience and capability to thrive under pressure and meet tight deadlines.
Specific Qualifications:
- Education: Bachelor’s degree in finance, Economics, or a related field (or equivalent).
- Experience: Minimum 12 years of operations experience, with at least 5 years in FXMM and OTC derivatives; proven experience managing teams
- Domain Knowledge: Excellent knowledge of FXMM and OTC derivatives products, processes, and associated regulatory requirements.
- Additional: Experience with operations technology/systems is a plus.
Skills Referential (Required Knowledge, Skills & Abilities)
Technical Skills:
- FXMM settlement processes
- OTC derivatives lifecycle & settlement
- Fixed Income/Bonds/REPO products & process
- SWIFT messaging (MT103, MT202, MTMX)
- Regulatory compliance & risk management
- End‑of‑day reconciliations & cash‑management
- Operations platforms & automation tools
Behavioral Skills:
- Analytical thinking & problem solving
- Effective communication & stakeholder management
- Leadership, coaching & team development
- High resilience & ability to work under pressure
- Continuous‑improvement mindset
Education Level : Master’s Degree or equivalent
Location : Mumbai/Bangalore, India
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 specialized 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.
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.
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, color, 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. 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.
