Job Description – APAC Cash Equity Settlements     

 


About BNP Paribas Group:

BNP Paribas is a top-ranking bank in Europe with an international profile. It operates in 71 countries and has almost 199 000 employees. The Group ranks highly in its three core areas of activity: Domestic Markets and International Financial Services (whose retail banking networks and financial services are grouped together under Retail Banking & Services) and Corporate & Institutional Banking, centred on corporate and institutional clients. The Group helps all of its clients (retail, associations, businesses, SMEs, large corporates and institutional) to implement their projects by providing them with services in financing, investment, savings and protection. In its Corporate & Institutional Banking and International Financial Services activities, BNP Paribas enjoys leading positions in Europe, a strong presence in the Americas and has a solid and fast-growing network in the Asia/Pacific region.

About BNP Paribas India Solutions:

Established in 2005, BNP Paribas India Solutions is a wholly owned subsidiary of BNP Paribas SA, a leading bank in Europe 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 6000 employees, to provide support and develop best-in-class solutions.

About Business line/Function :

Cash Equities Arbitrage settlements looks into the confirmations and settlements for Cash Equity trades for all APAC markets. Team has to ensure the trades are settled on time as per market cutoffs. Team needs to liaise with MO/FO incase of team discrepancies to ensure smooth settlement of trades. Along with this, ETFs, IPOs and conversions are also taken care by the team. Team works on unmatched/fails reports from custodian. Daily there is FOBO, Cash and Stocks reconciliation to ensure no breaks between systems vs custodian

Job Title:

Associate Level 1

Date:

5th Sept 2021

Department:

Global Markets Operations – Cash Equity Settlements

Location:

Mumbai

Business Line / Function:

Cash Equity Settlements

Reports to:

(Direct)

Manager

Grade:

(if applicable)

Senior Associate

(Functional)

Number of Direct Reports:

NA

Directorship / Registration:

NA

Position Purpose

Primary responsibilities of the team includes:

  • Settlement of Cash transactions and associated products in a timely and cost effective manner
  • Timely resolution of Nostro and depot breaks
  • Mitigation of operational and reputational risk by escalating in a timely and efficient manner
  • Liaising with clients, brokers / counterparties and other internal support functions for smooth settlement of trades

Responsibilities

Key Responsibilities:

  • Responsible for the settlement of Cash transactions & associated products booked in Calypso or BOLIVAR, on a timely and cost effective basis by:   
    • Perform settlement for listed cash equities as well as CBBC, Warrants, ETF creation / redemption and ADR / GDR conversion for Asian markets with experience / knowledge
    • To provide our best customer services and support to both our internal and external customers
    • Perform trade, position, cash reconciliation between our front office systems and back office system
    • Carry out investigation on any trade, position discrepancy among front office systems, back office system and broker/clearer, and immediately escalate to front and middle officers as well as managers for checking and amendment
    • Investigate any cash discrepancy and report to managers
    • To initiate new ideas / workflows in order to streamline our operations and improve control
    • To ensure appropriate escalation to managers and/or Permanent Control (or Compliance as appropriate) as soon as an issue is identified.
    • To follow properly the internal operational procedure and guidelines of the bank.
    • Provide operational support to Traders in HK/Paris/London trading listed derivatives in Asian markets
    • Perform UAT for new system, processes, market (i.e. broker/clearer) and provide operational support for new product launched
  • Responsible for solving Nostro and Depot reconciliation breaks on a timely basis:
    • By investigating and, where possible, clearing all nostro breaks in reported by Securities Control teams
    • By passing entries to the Calypso systems to clean up outstanding items on a timely basis
    • By investigating and, where possible, rectifying all depot breaks on a timely basis reported by Securities Control teams
    • By investigating and solving accounting breaks raised by Securities Control & Accounting teams
    • Escalating items that represent operational risk to the direct Manager
  • Contribute to the minimisation of settlement costs & operational risk:
    • By becoming more risk aware and by following the procedures or Compliance rules that are in place to mitigate operational or reputational risk
    • Monitors and take appropriate actions in case of market risks (buyins)
    • By seeking to improve STP rates at our custodians so reducing cost, by updating static data as and when necessary
    • By reducing the number of manual instructions sent to agents therefore reducing cost, manual intervention and settlement risk according to Compliance rules
    • If necessary, using the escalation process when operational risk is detected
  • Contribute to the overall successful running of the settlement department:
    • By maintaining close relationships with traders and sales and escalating problems to them promptly where required
    • By maintaining good working relationships with domestic agents and custodians
    • By communicating with, and assisting, other operational departments where needed
    • Ensuring direct Managers are kept informed of any potential problems & issues where appropriate.

Skills and competencies:

  • Ability to analyse, organize and report efficiently
  • Flexibility on working methods and changing international environment
  • Rigorous and reactive in order to face pressure and reach excellence anytime
  • Diligently follow the set procedures and Compliance policies
  • Knowledge of financial markets and products, and easiness/expertise in dealing with Excel.
  • English speaker

Experience Required

Minimum of 3 year experience

Skills Referential

Behavioural Skills: (Please select up to 4 skills) –

Attention to detail / rigor

Ability to collaborate / Teamwork

Adaptability

Communication skills - oral & written

Transversal Skills: (Please select up to 5 skills)

Ability to understand, explain and support change

Ability to develop and adapt a process

Ability to develop and leverage networks

Ability to set up relevant performance indicators

Ability to inspire others & generate people's commitment

Education Level:

Bachelor Degree or equivalent

Experience Level :

At least 3 years

Other/Specific Qualifications (if required)

Primary Location
IN-MH-Mumbai
Job Type
Standard / Permanent
Job
OPERATION PROCESSING
Education Level
Bachelor Degree or equivalent (>= 3 years)
Experience Level
At least 3 years
Schedule
Full-time
Reference
GLO004468

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