BNP Paribas Securities Services is a multi-asset servicing specialist committed to helping clients achieve their ambition both in terms of investment and cross-border distribution. Our extensive network of over 95 markets and the rich diversity of our people enable us to provide our institutional clients with the connectivity and local knowledge they need to navigate change in a fast-moving world.
Within Securities Services, and among the business units and professionals supporting clients globally, is the Custody Settlements and Cash Operations team of BNP Paribas NY Branch (Bank/Global Custodian business). Our team supports client’s post-trade processes including: trade and global CCY cash settlement along with foreign exchange, mutual fund and physical certificate management. This role is based in the Chesterbrook, PA office and is part of a dual-office structure with peers located in the Lisbon, Portugal offices of Securities Services. The team manages the daily flow of financial transactions, settlement and reporting between the client and the local market agent or international/central securities depositories. While the team’s volumes and daily activity is weighted towards the US market (DTC/NSCC, Fed), our coverage includes the fast-growing global custody offering that is supported across regions.
- Primary responsibilities will include the daily management of transactions between clients of BNP Paribas NY Branch, our Custody platform, and the depository/agent. The candidate will manage post trade activities through the lifecycle towards settlement, as well inquiry support for internal service partners or external clients.
- Status (before, on, and post contractual settle date), troubleshoot and settle transactions with service partners, external clients, agents/depository, and/or counterparties towards trade fail mitigation
- Daily monitoring and deadline driven processing of incoming and outgoing transactional instructions from/to client and to/from agent/depository
- Adherence to client Service Level Agreements/Descriptions (SLA/SLD)
- Inquiry management, with attention to established timelines
- Strict observance of Daily checklist, procedural and internal/regulatory/compliance/operation risk controls
- Status and resolve cash and/or stock breaks between custody and client or agent/depository and custody along with any additional risk data as assigned by team lead/manager
- Elevate potential risk – client, counterparty, reputational, financial, regulatory, etc. to team leads/manager with immediacy
- Review OFAC/Sanction blocks of transactional activity and complete Compliance/Regulatory/Continuing Education ahead of assigned deadlines
- Develop solutions with peers, service partners and IT to continually improve quality of service delivery, reporting, and transactional flows with attention towards cost effectiveness, automation, system enhancements, new products/services and efficiency.
- Involvement in client/agent/depo asset migrations, system UAT, industry changes, business continuity support, audits or significant productions changes (note: will include some weekend coverage across the year in each location)
- Actively participate and contribute to personal development and career development alongside the team lead/manager – training courses, research, BNP initiatives, etc.
- Enrich fail, trade status, and/or client reporting and communicate with service partners towards delivering premier services, developing relationships, and improving the client experience; locally and with global peers across client facing and operational teams
- Cross train with peers across global and US activities covered within the Settlements and Cash team for seamless solution delivery
- Actively participate in projects – independently, with team/partners, and regionally
Minimum Required Qualifications
- College/University degree
- SWIFT messaging - securities, reporting, cash and FX message types
- Client or Operational support experience for global agent network
- Background in project lifecycle participation, delivery and reporting
- Fedwire or CHIPs funds transfer experience
- DTC or Fed Securities Services experience
- Experience in the financial services industry at a bank/broker, service provider or as a custodian
- Familiarity with the trade lifecycle and industry participants to the process flow
About BNP Paribas:
In the United States, BNP Paribas has built a strong and diversified presence to support its client base. We continue to grow and strengthen our commitment to the US market through our Corporate & Institutional Banking activities. We are one of a few non-US banks to offer a full value chain for our clients, from trading to financing, and clearing and custody in the US with the international footprint and capacity to deliver both globally and locally. Leveraging the strength of our European roots, our network can support clients in virtually every region of the world, enabling more connectivity and efficiency wherever our clients conduct business.
BNP Paribas’ Corporate & Institutional Banking services corporate clients and institutional investors offering tailored solutions in financing, cash management, and advisory services to companies via Corporate Banking, in capital markets via Global Markets, and in securities custody and administration via Securities Services. As the asset management arm of BNP Paribas, BNP Paribas Asset Management offers high value-added solutions to individual savers, companies, and institutional investors.
The bank employs nearly 14,000 people and has a presence in the country since the late 1800s in major cities including New York, Jersey City, Chesterbrook, PA, San Francisco, Boston, Chicago, Denver and Washington, DC.
Physical presence in BNPP’s office(s) is an essential function of this position. BNPP requires all of our employees to be vaccinated in order to access its offices, subject to reasonable accommodations for reasons related to disability or religion.
BNP Paribas is committed to providing a work environment that fosters diversity, inclusion, and equal employment opportunity without regard to race, color, gender, age, creed, sex, religion, national origin, disability (physical or mental), marital status, citizenship, ancestry, sexual orientation, gender identity and gender expression, or any other legally protected status.