SLAB – Collateral Management
About BNP Paribas Group:
BNP Paribas is a top-ranking bank in Europe with an international profile. It operates in 71 countries and has almost 199 000 employees. The Group ranks highly in its three core areas of activity: Domestic Markets and International Financial Services (whose retail banking networks and financial services are grouped together under Retail Banking & Services) and Corporate & Institutional Banking, centred on corporate and institutional clients. The Group helps all of its clients (retail, associations, businesses, SMEs, large corporates and institutional) to implement their projects by providing them with services in financing, investment, savings and protection. In its Corporate & Institutional Banking and International Financial Services activities, BNP Paribas enjoys leading positions in Europe, a strong presence in the Americas and has a solid and fast-growing network in the Asia/Pacific region.
About BNP Paribas India Solutions:
Established in 2005, BNP Paribas India Solutions is a wholly owned subsidiary of BNP Paribas SA, a leading bank in Europe 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 6000 employees, to provide support and develop best-in-class solutions.
About Business line/Function :
Global Market Securities Settlements team ensures that Security transactions (Bonds, Equities, Complex Securities, ETF, SLAB, Repo..) 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.
Within the Securities Settlement Department, the main processes include pre & post settlement activities, clearing, and event-related accounting for securities deemed in scope. For SLAB, operations team manages the exposure on the bilateral trades and performs collateral trade booking in the system (where BNP receives collateral). Ops also performs recall and return bookings for the request sent by counterparty. For same day short for settlement or buy-in issue, operations book the recalls from triparty or inform the desk to make necessary borrows. Additionally, in case of account short with triparty, to have smooth release of recalls, ops requests desk to pledge-in the necessary amount of collateral, if required
Associate Level 1
Global Markets Operations – SLAB Collateral Management
Business Line / Function:
SLAB - Collateral Management
Number of Direct Reports:
Directorship / Registration:
Manage in a daily basis collateralised agreements within Collateral Management Operations to support both for derivatives security lending and repo activity.
- The Collateral Management Group processes the Net Present Value of the portfolio of trades between BNPP SA, BNPP Arbitrage and its counterparties on a daily (or as specified) basis and ensure that this exposure is sufficiently collateralised. Currently the group handles approximately $140 Billion of collateral globally on behalf of the Bank and its counterparties as regulators to require Banks to mitigate counterparty credit risk. The group interacts closely with Traders, Marketers, Legal, Credit and Operations.
- Changes in the portfolio PV (due to market price fluctuations, or new / matured trades) will generate changes in the required collateral balance. The collateral teams will call for or post additional collateral funds depending on the direction of movement of the PV of the trade portfolio relative to collateral exchanged. This daily margin call process ensures that at all times, the Bank and its subsidiaries remain as protected as possible from excessive credit risk exposure, and hence can minimise the amount of regulatory capital set aside against credit risk.
- Responsible for the settlement of Security transactions & associated products booked in BOLIVAR, on a timely and cost effective basis by:
- Managing the exposure on bilateral trades and booking the relevant collateral trades
- Performing recall and return bookings for request sent by counterparty
- Recalling positions from triparty or inform desk to borrow to cover same day short or buy-in risk
- Requesting desk to pledge-in required amount of collateral to cover triparty shorts
- Responsible for solving Nostro and Depot reconciliation breaks on a timely basis:
- By investigating and, where possible, clearing all nostro breaks in reported by Securities Control teams
- By passing entries to the Calypso systems to clean up outstanding items on a timely basis
- By investigating and, where possible, rectifying all depot breaks on a timely basis reported by Securities Control teams
- By investigating and solving accounting breaks raised by Securities Control & Accounting teams
- Escalating items that represent operational risk to the direct Manager
- Contribute to the minimisation of settlement costs & 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 (buy-ins)
- 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 settlement department:
- By maintaining close relationships with traders 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.
Skills and competencies:
- 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
- Knowledge of financial markets and products, and easiness/expertise in dealing with Excel.
- English speaker
Minimum of 2 year’ experience
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
Ability to develop others & improve their skills
Ability to develop and adapt a process
Choose an item.
Bachelor Degree or equivalent
Experience Level :
At least 2 years
Other/Specific Qualifications (if required)
Bachelor Degree or equivalent
Experience Level :
At least 2 years