Middle Office forms part of the Asset & Fund Services division of BNP Paribas Securities Services, supporting a variety of assets classes including Equities, Fixed Income, Foreign Exchange, Cash, Listed Derivatives, OTC and Reconciliations. Additionally the team provides support to our client’s start of day positions, matching and monitoring of settlements, cashflows and reporting.
The roles within the Sydney Middle Office team are organised in alignment with the Global Middle Office processes of Asset Servicing, Transaction Management, OTC, Account Management and Business Transformation.
The Sydney Middle Office team’s primary purpose is to ensure our clients receive high quality Middle Office services. This includes the execution of daily production to meet SLAs and KPIs, management of queries, resolution of issues, deliver on client change and continual development of our operating model.
The Sydney Middle Office team is also responsible for oversight of outsourced functions, including their daily operations and overall performance.
We value teamwork, maintaining good working relationships internally and with our clients, ownership of our risk and control environment.
Primary Role Responsibilities
Transaction Management
Supports the key Middle Office processes of Trade Processing (Equities, Fixed Income, Matching and Settlements, Repos, Secured Loans), Collateral Management, FX and Money Markets, Cash Processing, Trade Support (STP, Alert, Claims), Exchange Traded Derivatives and Transitions.
Corporate Action
Supports the key Middle Office processes of CA, general knowledge on all voluntary and mandatory events.
OTC Derivatives
Supports the key OTC functions of Trade & Life-Cycle Event Processing, Cashflow Management, Third Party Custodian Trade Instruction, Valuations, Regulation Reporting and Reconciliations (Third Party Positions, Port Rec and Cash Recs).
Operational Execution
Trade Matching Support, including dispute resolution
OTC Cash Management (Diarize, Cash Settlement, Cash Pooling Service (CPS) and related reconciliation break clearance)
OTC Trade Notification to external Custodians
Complete key client reconciliations
Manage New account setups for middle office clients trading and master custody derivative trading
Support and implement client change, new services and operational efficiency initiatives as required.
Generate ideas for process improvement to systems and processes.
Client Service
Manage clients and related external third parties queries ( Custodians, Counterparties) queries for Transaction Management processes in timely and professional manner via Hobart email, phone or service review meetings or Operations to Operations calls.
Building strong collaborative relationships with internal partners, clients, brokers and other external third parties.
All client related issues are maintained in client action logs and taking ownership for completing by due dates.
Escalate client issues appropriately for resolution
Client incident reports are delivered by BD10
Deliver client reporting (for example STP and KPI reporting) as required
Oversight of Outsourced Functions
Participate or lead daily check in calls on escalations and current issues
Review operating incidents with managers and track to closure.
Review aged and high value reconciliation breaks to ensure adequate actions and commentary
Participate or periodic service review meetings, covering KPIs, issue logs, change pipeline, resourcing, attrition, MIS.
Periodic reviews of SLAs, procedures and BCP plans
Risk Management
Adhering to the risk and control framework, including the maintenance and update of internal procedures.
BIRDIES (operating incident register) are managed within required timeframes
Audits and Control Self Assessments (CSA) are completed successfully (ISAE3042 and internal)
Manage incident process effectively and within reasonable timeframes.
Back-up and contingency plans maintained and understood in the event of system outages.
Other contributions
What is required for you to succeed?
Teamwork - Listen and responds constructively to other team members’ ideas. Builds strong partnerships across the firm and externally to help achieve results for the firm and client alike.
Creativity and Innovation – takes a different perspective to a problem and goes beyond the existing frameworks suggesting new ideas which are suitable for their clients;
Client Focus – Demonstrates an understanding of excellent client service and understands the issues facing their client;
Accountability - committed to achieving the organisation's objectives. Demonstrates perseverance and is accountable for own actions.
Attention to detail - ensures accuracy and implements processes to ensure quality of output. Ensures high personal standards in all areas of work.
Communication - Oral: expressing ideas effectively in individual and group situations. Adjusting communication style to match the needs of the audience. Written: expressing ideas clearly in all written documents. Using professional, appropriate language at all times, and adhering to the use of the BNPP Email Protocols.
Team orientation - works with the team and the broader organisation towards shared goals and treats all colleagues and clients as partners
Planning & execution - establishes courses of action for self and others to ensure work is completed efficiently. Effectively manages own time and resources to meet deadlines and quality standards
Desired knowledge, skill, experience
Qualifications -
Degree education – preferable commerce and finance.
Technical skills –
7+ years experience in Securities Services
Knowledge of the fixed income, equities, foreign exchange and cash & FX markets and corporate actions and derivatives
Solid understanding of outsource Middle Office services
Systems knowledge -
TradeFlow
Hi-Portfolio
Calypso
IntelliMatch
MS Word and Excel (intermediary/expert)
Tradeflow
About BNP PARIBAS
BNP Paribas is a top-tier European and international banking establishment, with an uninterrupted presence in the APAC region since 1860 and in Australia since 1881. Combining global expertise and local know-how, BNP Paribas in Australia and New Zealand delivers solutions to our clients through Corporate and Institutional Banking and Asset Management - a bridge between corporate and institutional clients.
We passionately embrace diversity and are committed to fostering an inclusive workplace where all employees are valued and encourage applicants of all backgrounds, including diversity of origin, age, gender, sexual orientation, gender identity, religion applicants who may be living with a disability. We have a number of internal employee networks in place to empower our staff to act and challenge the status quo.
BNP Paribas PRIDE is highly active in favour of the LGBTQIA+ community
BNP Paribas MixCity which fosters better representation of women at all levels of the organization
Ability, the mutual aid network for employees with a disability or a disabling or chronic illness
BNP Paribas CulturAll which celebrates diverse backgrounds
BNP is committed to financing a carbon-neutral economy by 2050. The Group is a founding member of the Net-Zero Banking Alliance and has set up its own Low Carbon Transition Group to support its clients through their energy transitions.
If you require any reasonable adjustments during the recruitment process, please feel free to reach out to us at bnpp.hrss.recruitment.operations [at] asia.bnpparibas (dot) com or +61 2 9216 8633 (and ask for the Talent Acquisition Manager in the HR Team).
Discover the different professions within BNP Paribas: Operations Management
Those who work in Operations Management roles are essential to the smooth-running of our Group, and work consistently to satisfaction to our clients and teams. These roles offer stimulating careers that combine efficiency with a strong collaborative spirit.
Basically, why would you want to join BNP Paribas over any other company?
BECAUSE YOU'RE THE KIND OF PERSON WHO WANTS...
What if we told you that working in our Group isn’t quite what you might think? At BNP Paribas, we do a multitude of different jobs that are constantly evolving to meet the expectations of our clients and society as a whole. Whether through everyday tasks or major projects, doing one of our jobs means making a personal commitment to taking sustainable action.
Feeling good about your job means bringing your whole self to work and being who you are. It’s also about having the resources you need to achieve a healthy work-life balance. Both of these are major commitments at BNP Paribas.
At BNP Paribas, developing your skills is as important to us as it is to you. And the skills you learn with us will help you through the rest of your working life.
