Operations, Middle Office and Product Control (OMP) is a function that supports all Market and Financing Services activities in the US, such as Forex; Banks Broker Dealers & Asset Managers Financing; Collateral Management; Cash and Liquidity Management Service; Treasury & Forecast group.
The Operations team ensures that the MFS activities settle properly and are compliant with the market and the Bank’s rules. The team is also in charge of setting up static data and controlling access rights to the systems. Billing, income processing, and Treasury forecast processes are also part of the Operations team's mandate.
The Middle Office Team produces: 1) the daily Profit and Loss (PnL) and reconciles it with that of the Front Office and 2) The monthly PnL and reconciles it with that of Finance. The MO ensures that the traders’ respect their trading mandates, performs a front to back trade reconciliation, and computes the client profitability by activity. The team is also in charge of booking various types of Loan financing transactions in a dedicated system, and accompanying clients in their process of requesting additional lines of credit. They ensure that the loans are properly collateralized (if need be) and that the payments are processed on time.
The Product Control Team is in charge of the trading mandates and risk monitoring. The team follows on a daily basis any abnormal trading patterns (unusual trading activity, including cancellations, updates, back values). The team also ensure that MFS has a cartography of all the systems and portfolios, and that the booking and PnL processes are in line with Bank guidelines. The Product Control team monitors the incidents, analyzes potential incidents, and ensures that MFS has implemented KRIs and KMPs in compliance with 2OPC requirements. Finally, the team follows up on Audit recommendations, making sure we implement them within the deadlines.
- Forecast in GEODE of late trades/fails in USD and CAD including New York Branch Custody
- Processes leverages into BP2S Paris’ account at the Correspondent
- Arranges funding/placement with ALM NY (USD) and with our cash correspondent for CAD & MXN.
- Produces a daily Report of non-USD Balances stemming from the US Global Custody Activity
BAMF (Broker Dealer Asset Managers Financing) – Client Service Team
- Processes electronically all transactions for the BAMF within the COMFORT Front Office system, before submission to the Risk Management and Bank Operations departments.
- In the case of secured transactions, confirms that all new transactions are within the approved credit line and that the client pledges sufficient collateral, before submitting the transaction for handling and oversight by the Risk Management and Bank Operations departments.
- Ensures that COMFORT prices the collateral received correctly.
- Periodically monitors the COMFORT system to ensure that we wired funds to the customer within a reasonable time.
- Verify that we’ve received all incoming funds prior to the close of the Federal Reserve. Contact Bank Operations as required.
- Ensures all day loan documentation is received and processed
- Performs quarterly Pledge and Agreement to deliver customer audits and prepares written reports. Completes customer and/or audit confirmations.
- Prepares daily, monthly and quarterly reports for management
- Calculate on a daily basis the profit and loss (PnL) on Forex, Agency Lending, BAMF and reconcile it with the Front Office calculations
- Calculate the Monthly PnL from the Middle Office Systems and reconcile it with Finance
- Make sure the PnL is calculated with the right methodology for every activity
- Calculate the profitability by client where possible
- Produce KPIs (Volume, margin…) for management
- Follow up the market risks, such as the Intraday Limit for the FX, client concentration (AGL)
- Produce and give data to ORPC for the Key Risk Indicators, Key Monitoring Points, and Incidents
Minimum Required Qualifications
- 2 to 3 years in treasury & Cash Management forecasting.
- Knowledge of currencies and FX Market
- Must have great problem solving skills
- Attention to detailMust be a team player, leader, and excel at working with other teams
- Strong communication skills. Ability to interact with senior management. Must be proactive and results driven
- FX and Treasury Middle Office or Operations
About BNP Paribas:
In the United States, BNP Paribas has built a strong and diversified presence to support its client base. We continue to grow and strengthen our commitment to the US market through our Corporate & Institutional Banking activities. We are one of a few non-US banks to offer a full value chain for our clients, from trading to financing, and clearing and custody in the US with the international footprint and capacity to deliver both globally and locally. Leveraging the strength of our European roots, our network can support clients in virtually every region of the world, enabling more connectivity and efficiency wherever our clients conduct business.
BNP Paribas’ Corporate & Institutional Banking services corporate clients and institutional investors offering tailored solutions in financing, cash management, and advisory services to companies via Corporate Banking, in capital markets via Global Markets, and in securities custody and administration via Securities Services. As the asset management arm of BNP Paribas, BNP Paribas Asset Management offers high value-added solutions to individual savers, companies, and institutional investors.
The bank employs nearly 14,000 people and has a presence in the country since the late 1800s in major cities including New York, Jersey City, Chesterbrook, PA, San Francisco, Boston, Chicago, Denver and Washington, DC.
BNP Paribas is a leading bank in Europe with an international reach across the US, EMEA and APAC. It has a presence in 68 countries, with more than 193,000 employees. The Bank offers a comprehensive range of banking, investment and financial services solutions through three main fields of activity: Retail Banking for the Bank’s retail-banking networks 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, BNP Paribas 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.
We take pride in our expertise and our ability to adapt while constantly looking ahead to create a more sustainable world.
BNP Paribas. The Bank for a Changing World.
*Physical presence in BNPP’s office(s) is an essential function of this position. BNPP requires all of our employees to be vaccinated in order to access its offices, subject to reasonable accommodations for reasons related to disability or religion
BNP Paribas is committed to providing a work environment that fosters diversity, inclusion, and equal employment opportunity without regard to race, color, gender, age, creed, sex, religion, national origin, disability (physical or mental), marital status, citizenship, ancestry, sexual orientation, gender identity and gender expression, or any other legally protected status.