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AM - Fixed Income Settlements

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Last update 12.04.2024

Fixed Income Settlements -AMER

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 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, 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

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 Business line/Function :

Global Market Securities Settlements team ensures that Security transactions (Bonds, Equities, Complex Securities, ETF, SLAB, PNS..) and positions registered in the books under CIB ITO’s mandate, match the commitment actually taken with counterparties within a secure setup, in accordance with Group and Regulatory Policies and/or contractual agreements.

Perform all daily settlement tasks.  This includes, but is not limited to settlement of Fixed Income transactions settling through DTC and Euroclear, mark to markets, contract compare, end of day balancing and reconciliations

Job Title:

Assistant Manager

Date:

Department:

Global Markets Operations – Securities settlements

Location:

Bengaluru

Business Line / Function:

Fixed Income Settlements

Reports to:

(Direct)

NA

Grade:

(if applicable)

Assistant Manager

(Functional)

Number of Direct Reports:

NA

Directorship / Registration:

NA

Position Purpose

Primary responsibilities of the team includes:

·         Ensure timely settlement of DTCC transactions

·         Ensure timely settlement of Euroclear transactions Daily monitoring and resolution of Loanet contract compare breaks

·         Process Loanet same day trade closeouts

·         Monitor / resolve breaks, dks, and nostro rec items

·         Settlement / resolution of DTC coupon & redemption items

·         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

Acting as a first level escalation contact, it is essential for this role to ensure the team deliverables are met and issues are highlighted to the appropriate groups and stakeholders in a timely manner.

Responsibilities

Key Responsibilities:

  1. Responsible for the FI settlement , on a timely and cost effective basis by:   

o    Ensuring all trades are instructed, matched & settled on a timely basis

o    Monitoring of failing trades & updating calypso with details of reason for fails

o    Reducing fails and/or potential fails by means of pairing off or offering partial for deliveries

o    Pre-matching trades on a daily basis

o    Cash management related with funding trades

  1. Responsible for solving Nostro and Depot reconciliation breaks on a timely basis:

o    By investigating and where possible, clearing all nostro breaks reported by Securities Control teams

o    By investigating and where possible, rectifying all depot breaks on a timely basis reported by Securities

o    Control teams

o    By investigating and solving accounting breaks raised by Securities Control & Accounting teams    

  1. Contribute to the minimisation of settlement costs & operational risk:

o    By becoming more risk aware and by following the procedures or Compliance rules that are in place to mitigate

o    operational or reputational risk

o    Monitor and take appropriate actions in case of market risks such as buy-ins, penalties etc.

o    By seeking to improve STP rates at our custodians thereby reducing cost

o    By updating static data as and when necessary

o    By reducing the number of manual instructions sent to agents therefore reducing cost, manual intervention and settlement risk according to Compliance rules

o    If necessary, using the escalation process when operational risk is detected

  1. Contribute to the overall successful running of the settlement department:

o    By maintaining close relationships with traders and sales and escalating problems to them promptly where required

o    By maintaining good working relationships with domestic agents and custodians

o    By communicating with and assisting, other operational departments where needed

o    Ensuring direct Managers are kept informed of any potential problems & issues where appropriate and to the Client relationship management on the whole Security Post-Trade Processing area in coordination with CIB CLM OCRM e.g. meetings, investigations, surveys. 

o    Contribute to ensure all required materials such as procedures, SOP, Skill Matrix, trainers identified, are updated.

o    Raise to the management / project teams any dysfunctionality during the course of BAU

o    Actively contribute to UAT testing where necessary and engage in training and coaching the new joiner

Core competencies:

o    Management skill

o    Problem solving skills

o    Good communication skills and strong client focus

o    Multicultural awareness

o    Risk awareness and attention to detail

o    Analytical and result oriented

o    Strong organization skills and rigorous

o    Ability to perform multiple tasks and meet established deadlines, in a fast pace work environment


Experience Required

Minimum of  7 years’ experience

Amer Support

Skills Referential

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

Ability to deliver / Results driven

Ability to collaborate / Teamwork

Communication skills - oral & written

Ability to share / pass on knowledge

Transversal Skills: (Please select up to 5 skills)

Ability to understand, explain and support change

Analytical Ability

Ability to develop others & improve their skills

Ability to develop and adapt a process

Ability to inspire others & generate people's commitment

Education Level:

Bachelor Degree or equivalent

Experience Level :

At least 7 years

Other/Specific Qualifications (if required)

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.

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Why should I apply?

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.

Find out more