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, corporate 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 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 Business line/Function:
Global Market Operations (GMO) covers Front Office activities such as ALM/Treasury and Fixed Income local booking. GMO consists of various streams, Control and Investigations, Settlement, Collateral and Reconciliation. GMO teams are also in regular contact with Capital Market Middle Office, Regional Back Office’s and Regional Finance.
Job Title:
Senior Associate
Date:
2024
Department:
DEC- Clearing
Location:
Bengaluru
Business Line / Function:
Derivatives Execution & Clearing Operations
PFM
Reports to:
(Direct)
Manager
Grade:
(if applicable)
NA
(Functional)
Number of Direct Reports:
NA
Directorship / Registration:
NA
Position Purpose
The candidate would be Part of Derivative Execution and clearing team, working along with the DEC Market Fees Reconciliation and Brokerage team.The role would concentrate To clear and allocate exchange traded derivatives trade on behalf of the client. Ensure all top day trades are cleared and reconciled against cleaning house by the end of day.
The role requires a high level of attention to detail, to ensure BNPP SA’s external end client fees are validated and any required corrections or amendments are processed accurately and according to procedure. The candidate would be working with large volumes of trade data so should be comfortable using Excel to summarize, as well as to drill down and independently investigate any discrepancies that may arise.
Work effectively with team members to accomplish common goals. Generate creative solutions to problems, Ability to plan work ahead and to prioritize workload in an organized manner.
Undertake a variety of financial and non-financial tasks in order to help guarantee the company’s revenues; handle the processing of incoming payments along with the issuing of necessary paperwork.
Responsibilities
- Client experience focus directly interacting with the listed derivative global client base to manage their margin, cash, and collateral settlements and inquiries
- Direct communication with CTFC regulators, compliance teams, auditors, FCM community, and global business partners
- Extensive knowledge of the CFTC regulations, NFA, and CCP rulebooks for FCM clearing operations of settling margin, collateral, and customer protection regulations
· Managing the cash wire, securities movements, and related control processes incorporated into the settlement of client and CCP facing margin
· Account balancing of various depositories requiring in depth investigation to resolve related breaks and inquiries
· Key risk indicator and statistical capture, recording, and analysis of operational process and staff performance trends
· Lead and assist large scale projects to implement processes that comply with necessary changes, growth, and or new regulations and rules
· Provides training and instructional demonstration to staff, partners, and clients in regards to the firm’s margin settlement framework, regulatory requirements and related operational processes
· Demonstrates a highly competent working knowledge of FCM operations involvement in the life cycle of execution and clearing activities that result in the calculation margin requirements
· Ensure ample familiarity with our escalation procedures and raises issues to the appropriate contacts in a timely manner to ensure all are aware of potential risk while taking ownership of the issue and sees through to resolution
· Reviews processes and provides feedback for enhancement with additional responsibility for managing the enhancement for operations and seeing through to completion
· Collaborates with Product on projects to improve the client offering and presents the operations point of view on behalf of her team
·
Minimum Required Qualifications
- Bachelor degree
- Staff – experience with Reconcilliation experience & ETD background
- Experience managing and operational processes
- Knowledge of FCM operations responsibilities to CCPs and clients
- Extensive knowledge of CFTC regulations with ability to demonstrate controls adhering to compliance in a daily production environment
- Understanding of exchange listed derivatives trading and clearing workflows and related controls to alleviate regulatory risk
- Microsoft Excel (Vlookup, Pivot tables, formals, etc.), Outlook and Power Point
Preferred Qualifications:
- Experience in client and CCP margin settlement calculation and process for listed derivatives markets
- 5-6 years of experience assisting or leading projects requiring regular status reporting and meeting strict deadlines
- 5-6 years of experience in client services, solutions, or relationship building and management
- Experience giving live demonstrations
- Project management experience specific to establishing best practices, process improvements, and implementation of operational controls
- Experience interacting with outside parties, clients and various lines of business seeking solutions for enhancing control environments
- Experience in global markets trade execution and operational systems
- Microsoft suite knowledge
Technical & Behavioral Competencies
- Strong Communication skills required for an effective liaison with counterparties and internal stakeholders to the reconciliation process. (Middle offices, marketers, traders, credit, compliance and legal)
- Knowledge of Exchange Traded derivative products /ETD Clearing.
- Experience of the commodity exchanges’ and CCPs’ platforms - preferable though not required
- Flexibility to accommodate business requirements and working hours.
- Ability to use Excel at an intermediate level - essential
- Excellent numerical and analytical skills - essential
- Ability to analyse large volumes of data
- High attention to detail and quality focused
- Be comfortable with escalation and managing issues as they arise
- Forward thinking and proactive with the ability to question process
- Ability to work under pressure
- Team Player
Specific Qualifications (if required)
- Bachelor’s degree from a college or university
- Strong Communication skills and client focus oriented
- Fundamental understanding of clearing /Futures & Options markets.
- Knowledge of all Microsoft Office applications (Excel, Word, PowerPoint, Access)
Skills Referential
Behavioural Skills: (Please select up to 4 skills)
Attention to detail / rigor
Organizational skills
Personal Impact / Ability to influence
Critical thinking
Transversal Skills: (Please select up to 5 skills)
Ability to understand, explain and support change
Analytical Ability
Ability to develop and leverage networks
Ability to understand, explain and support change
Choose an item.
Education Level:
Bachelor Degree or equivalent
Experience Level
5-6 years
Other/Specific Qualifications (if required)
NA
