MISSION AND OBJECTIVES
At a high level, Collateral Management is the function responsible for reducing credit risk in unsecured financial transactions. The goal is to mitigate counterparty risk by issuing margin calls that are at least equivalent to the replacement cost incurred if the client defaults. Margin calls are met with the transfer of liquid assets including cash and securities. Today’s rapidly changing regulatory environment has brought upon an ongoing need to adapt existing processes to meet evolving requirements.
• Minimize the bank's risk by making required margin calls in accordance with signed agreements or long form confirms and internal credit/audit guidelines.
• Maintain a working understanding of ISDA/CSA collateral agreements
• Verify that all manual adjustments are captured prior to margin call processing
• Ensure that all margin calls are issued and responded to meeting agreement deadlines
• Research, reconcile and resolve margin call disputes with counterparties
• Notify the Risk IM team on outstanding margin call disputes
• Work closely with Front, Middle and Back offices
• Confirm and process collateral movements in a timely manner
• Investigate control reporting breaks
• Process and reconcile monthly collateral interest
• Accurately prepare daily reports for review by Senior Management
• Escalate unresolved issues to management
TRAINING AND OCCUPATIONAL EXPERIENCE
• Bilingual English / French
• Four year college degree preferred.
• Previous Collateral Management experience a plus.
• Candidates should have working knowledge of OTC Derivative and/or Repo markets.
• Collateral agreement (ISDA/CSA/Repo) knowledge a plus.
• Algo, BONY GSCX, Acadiasoft and TriOptima system experience a plus.
• Strong analytical and working knowledge of Microsoft Office. Ability to build Excel based solutions to improve efficiencies / controls.
• Necessary characteristics include:
- track record of mitigating operational risk
- attention to detail, high degree of accuracy
- customer service etiquette
- strong communication skills (oral & written)
- sense of initiative,
- ability to work under pressure in a fast paced environment. .
Please submit your application in English
A recruitment policy that promotes equity and diversity:
Equity and diversity are at the core of our recruitment policy because we believe that they foster creativity and efficiency which in turn increase performance and productivity. We strive to reflect the society we live in, while keeping with the image of our clients.
We pride ourselves in applying non-discrimination rules to all our recruitments.
We will only contact the candidates selected who meet the job requirements in terms of training and experience.
About BNP Paribas
BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 73 countries, with more than 195,000 employees, including more than 148,000 in Europe. The Group has key positions in its three main activities: Domestic Markets and International Financial Services (whose retail-banking networks and financial services are covered by Retail Banking & Services) and Corporate & Institutional Banking, which serves two client franchises: corporate clients and institutional investors. The Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP Paribas Personal Finance is the leader in consumer lending. BNP Paribas is rolling out its integrated retail-banking model in Mediterranean countries, in Turkey, in Eastern Europe and a large network in the western part of the United States. In its Corporate & Institutional Banking and International Financial Services activities, BNP Paribas also enjoys top positions in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific.
About BNP Paribas in Canada
In Canada, BNP Paribas is one of the dominant foreign banks in the country and is committed to building its platform even further. Since becoming the operational hub for the Group’s activities in North America in 2013, it has grown significantly to reach more than 700 employees and is expected to continue growing in the coming years. With the continued development of technology and financial fields, BNP Paribas Canada continues to attract experts with diverse backgrounds as well as young and ambitious talent from across the globe. With the international mobility and capacity that very few companies can offer, BNP Paribas prides itself in providing a superior foundation for building a professional career - a place for people to learn, to achieve and grow.