Bonds Settlements Clerk
BNP Paribas is a leading European bank with an international reach. It has a presence in 72 countries, with more than 202,000 Employees – including more than 154,000 in Europe and over 5,000 in Portugal alone.
BNP Paribas is present in Portugal since 1985, having been one of the first foreign banks to operate in the country. Today, BNP Paribas has several entities operating directly in this territory, offering a wide range of integrated financial solutions to support its clients and their businesses.
Worldwide, 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, corporate and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance.
On the Global Markets and ALMT perimeters, and on a global basis, Global Market Securities Settlement Paris ensure that Security transactions (Bonds, 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, custody, relevant legal documentation, transaction and event-related accounting for securities deemed in scope.
ROLE AND RESPONSABILITIES
- Responsible for the settlement of Security transactions & associated products booked in Calypso, on a timely and cost effective basis by:
- Ensuring all trades are instructed, matched & settled on a timely basis
- Monitoring of failing trades & updating Calypso with details of reason for fails
- Reducing fails and/or potential fails by means of pairing off or partialing down deliveries
- Minimising fails by means of partial deliveries where possible
- 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 his 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
- Liaising with the dedicated team 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 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. To the Client relationship management on the whole Security Post-Trade Processing area in coordination with CIB CLM OCRM e.g. meetings, investigations, surveys
- Required level of education: Bachelor Degree
- Required level of education: Up to 2 years
- English Level C1-C2
- Strong knowledge of Securities & operational processes surrounding securities
- Good knowledge of derivatives products
- Strong knowledge of Microsoft software (XL, VBA, Word, PPT, Outlook,…)
- If possible, knowledge of practices of Lean & CI
- Risk aware
- Client oriented
- Rigorous attention to detail
- Result oriented
- Good communication skills
- Team spirit
Please note that only applications submitted in English will be considered.
In case you are selected for this role, further documentation will be requested to support your hiring process.
BNP Paribas is an equal opportunity employer and proud to provide equal employment opportunity to all job seekers. We are actively committed to ensuring that no individual is discriminated against on the grounds of age, disability, gender reassignment, marriage or civil partnership status, pregnancy and maternity, race, religion or belief, sex or sexual orientation. 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.