Job Title: Assistant Manager - Global Markets Documentation
Department: ISPL Documentation team
About Business line/Function:
Global Market Operations is a global team, incorporated in 4 main platforms (New-York, London, Hong-Kong and Paris) working very closely with Front Office (FO) (Sales and Trading), Back Office, IT, Finance, Risk, Valuations & Risk Control and Process teams.
Its main missions are to support efficiently the Front Office over the core controls performed post trades:
Trade support, Referential & Corporate Events, P&L, Reporting, Control, Confirmation, Back Office and Settlement, Prime Brokerage, Execution and Brokerage
Position Purpose:
The position will be a part of the confirmation drafting team for Equity Derivatives and will be primarily responsible for Documentation drafting-approving drafts of Equity Derivatives transaction.
The position requires working in a virtual team and international environment. It involves coordination with other locations and divisions of BNP Paribas as necessary. It is important that the candidate should have strong products knowledge along with high analytical skills and attention to details.
Responsibilities
Direct Responsibilities
The Drafting team is responsible for ensuring that all BNP Paribas confirmations are Dispatched to clients i.e Interbank and Corporate Clients. The team covers a wide range of products traded by the Trading desks such as Vanilla products and the more complex Structured trades.
The Drafting team is also responsible to perform final verification of the trade economics before dispatching the final confirmations to counterparts.
The team works closely with other Trade Processing teams, legal teams and Front Office to ensure timely communication for any booking discrepancies, template issues and outstanding confirmations.
Also in the light of EMIR regulation and risk reduction, the target is to match all confirmations within one day and globally to reduce the outstanding confirmations delay.
Confirmation Drafting/Execution responsibilities:
To draft confirmations with counterparts for wide range of Products for Equity Derivatives
To perform final verification of the trade economics before sending the final confirmation to counterparts
- To support secondary events during the product life cycle such as Novation, Early Termination, etc.
- To closely comply with EMIR, FED and Dodd-Franck regulation
- To follow up any type of amendments requests
- Draft and validate ISDA/AFB confirmations by referencing booking systems and term sheets for both financial institutions and corporate clients
- Ensure confirmations are sent or suppressed in accordance with procedure
- Ensure accurate completion of drafting tasks within the internal service level agreements, client requirement and regulatory timelines
- Prepare draft confirmations for potential trades as necessary
- Ensure all correspondences are indexed into system to allow for future data retrieval
Bring Direct contribution to BNPP operational permanent control framework
Minimize operational failure, including but not exclusively the risk of fraud by helping to devise and by implementing sufficient regular controls
Ensure appropriate escalation to management and/or permanent control (or compliance as appropriate) as soon as an issue is identified.
Ensure that documentation controls are done daily, comments detailed clearly, and be responsible for reliability of records
Ensure set KPIs are met
Contribute to the quality of the team by:
- keeping personal training up to date
- highlighting processing improvement opportunities
- assisting in the training of new entrants
Contributing Responsibilities
· Create BRD, functional specifications, flow charts, Root cause analysis and other diagnostic documentations.
· Have a good understanding of the data flows and understand its lifecycle of source to destination.
· Identify risk in process and propose / implement controls
Technical & Behavioral Competencies
Technical competencies
· Computer skills is highly a must
· Fluent English
· ISDA definitions & templates
· Ability to prepare draft confirmations for trades as based on booking and term sheet
· Basic understanding of OTC products
· Ensure accurate completion of drafting tasks within the internal service level agreements, client requirement and regulatory timelines
Behavioral Competencies:
· Organized & good resistance to stress
· Attention to detail: the confirmation is the ultimate document which bind the bank with the counterparty, 100% correct is non-negotiable
· Self-discipline & autonomy: Each team member has its own portfolio of clients, which need to be managed efficiently. Ability to work on its own with little supervision.
· Adaptability & Change Management: Ability to easily adapt to new situations (new booking systems, new products, new activities to manage…) as this is a constant changing environment
· Strong Client Focus: Client is at the center of all our concerns..
· Escalation & Reporting process: all team members need to closely follow escalation rules in place with all different stakeholders. Comply with relevant regulatory targets e.g CFTC,EMIR targets. Being able to efficiently raise to manager issues encountered on a daily basis, even if those are not forecasted in existing processes
Specific Qualifications:
· Minimum 7 years of experience along with Bachelor's Degree - in management, finance, science, economics, related field or equivalent experience.
· Prior experience in similar domain.
· Fluent in English (both oral and written communication)
Skills Referential (Required knowledge, skills and abilities)
Technical Skills:
· Fluent English
· ISDA definitions & templates
· Front to back workflow
· Risk Management
· Strong analytical skills
· Ability to innovate
· Strong team player and strong problem-solving mindset as well as client-oriented
· Advanced proficiency in Excel & presentations
Behavioral Skills:
· Organized & good resistance to stress
· Attention to detail
· Ability to prioritize workloads & use a proactive approach to meet deadlines
· Self-discipline & autonomy
· Adaptability & Change Management: Fungible resource who is ready to adapt
· Strong Client Focus: Client is at the center of all our concerns.
Education Level: Bachelor Degree or equivalent
Location: Bengaluru
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 specialized 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.
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.
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. 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.
