About BNP Paribas Group:
BNP Paribas Group is a leading European bank with a strong global footprint across 72 markets and more than 202,000 employees. The Group provides corporates, institutional and private investors with product and service solutions tailored to their specific needs. It offers a wide range of financial services covering corporate & institutional banking, wealth management, asset management, insurance, as well as retail banking and consumer financing through strategic partnerships.
About BNP Paribas Solutions - Philippines Branch
Established in 2024, BNP Paribas Solutions Philippines Branch is a branch of BNP Paribas Group, a leading bank in Europe with an international reach. We provide support services. back-office operations services related to or which further the accomplishment of the corporation’s investment services, banking transaction processing, and equity investment.
About Business line/Function:
BNP Paribas as a prime broker provides a wide range of services to hedge funds including secured
financing, securities settlement, custody, capital introduction, securities lending and custom information technology. Cash PB Wire payments team ensures that the cash payments for the clientele of Prime brokerage business are processed as per clients advice, in accordance with Group and Regulatory Policies and/or contractual agreements.
Position Purpose
This position will be primarily responsible in timely action with regards to input or releasing payments to minimize any risk or impact to clients’ accounts. Additionally, the identified candidate will work on timely resolution of nostro breaks, mitigation of operational and reputational risk by escalating issues in a timely and efficient manner. Lastly, liaising with clients and other internal support functions for resolving issues pertaining to wire transfers.
Responsibilities
Key Responsibilities:
Responsible for ensuring wire transfers as per client’s advice and process them in a timely manner by:
- Ensuring payments are instructed and released from the system in a timely basis
- Liaising with internal teams, agents and client representatives for payment related issues
- Responsible for solving Nostro reconciliation breaks on a timely basis:
- By investigating and, where possible, clearing all reported nostro breaks
- By investigating and solving accounting breaks raised by Control & Accounting teams
- Escalating items that represent operational risk to the direct Manager
Cost & 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 process:
- By maintaining close relationships with client reps 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.
Operational Management and Client Focus
A best-in-class service to our clients and Internal partners (All), NIL Client complaints
- Get Closer to the teams, be hands-on and be an SME, demonstrate that you are able to perform the core activity yourself to be able to effectively support your business
- Be visible and take accountability in managing BAU issues and address the process challenges and escalations heads on.
- Display ambitions, conduct & culture of respect towards your colleagues.
- Proactively identify process gaps and report to senior management
- Zero processing errors while delivering BAU activities
- Adherence to ORUS governance in the process
- Proper documentation of all Controls with audit trails and exhibit integrity in completing End of Day reports.
- Reports to Management/Stake holders, follow proper channels of escalation that are abided
- Comply with Modus Operandi with detailed L3 procedure & regular SOP updates.
Technical & Behavioral Competencies
- At least 8-10 years of experience in the Prime Brokerage Cash Payments operations as a Subject Matter Expert or other relevant operations background.
- 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
- Strong knowledge of SWIFT payments such as MT202, MT 103,(And new MX format knowledge), financial markets and products, and easiness/expertise in dealing with Excel.
