DEC -Clearing

 


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:

Derivatives Execution & Clearing (DEC) provides a full range of services in OTC and ETD clearing and execution, across asset classes (equities, fixed income and commodities) for markets across the globe. DEC teams are also in regular contact with Middle Office, Regional Back Office’s and counterparts.

  

Job Title:

Manager/AVP

Date:

2021

Department:

DEC- Clearing

Location:

Bengaluru

Business Line / Function:

Derivatives Execution & Clearing Operations

Reports to:

(Direct)

AVP/VP

Grade:

(if applicable)

NA

(Functional)

 

Number of Direct Reports:

15-25

Directorship / Registration:

NA

 

Position Purpose

The candidate would be Part of DEC (Derivative Execution and clearing team), working along with the DEC teams in various locations (Europe / APAC / US). The role would concentrate to clear and allocate exchange traded derivatives trades on behalf of the client, ensure all top day trades are cleared and reconciled against clearing house. All reconciliation to be completed on T+1.

The role requires a high level of attention to detail, to ensure external end client trades are processed accurately and according to procedure, as well as any required corrections or amendments. The candidate would be working with large volumes of trade data so should be comfortable using Excel for example to summarize, as well as to drill down and independently investigate any discrepancies that may arise.

Work effectively with team members to accomplish common goals. Generate creative solutions to problems, Ability to plan work ahead and to prioritize workload in an organized manner.

Undertake a variety of financial and non-financial tasks in order to help guarantee the company’s revenues; handle the processing of incoming payments along with the issuing of necessary paperwork.

Responsibilities

Team Management

  • Ensure service delivery, Asses Capacity utilization / formulate recruitment strategy with direct manager.
  • Plan, direct and assign the workflow Ensure new team members integration, monitoring training and evolution.
  • Diversity and inclusion
  • Manage performance review process.
  • Responsible for compliance/training requirement adherence of the staff as per Organisation policy.
  • Ensure high level of communication network is established will all the departments within the business group.
  • Meet /Plan BCP and ERS requirement
  • Drive efficiency/improvement – quantify and develop matrix to capture the progress.
  • Uplift client service and client focus

Risk control

  • Monitor activity progress against the goals and take appropriate corrective action as and when it is required. Produce Matrix/data for senior management.
  • Control and ensure that all tasks are processed accurately and on a timely manner
  • Identify risk, suggest implementation of a first level of control.
  • Ensure all documentations are up to date and signed off (SLA ,BIA TC)
  • ERS/BCP plan in place.
  • Responsible for completion of compliance requirements /trainings for the team.

Middle-office- T trades.

  • Be the 1st point of contact for all counterparties (clients, brokers, CCPs) with regards to trade allocation/clearing
  • Top day trade monitoring and allocation for involved exchanges to ensure STP trade flow
  • Follow up of pending trades closely and ensure all clients trades are booked at T day
  • Perform timely reconciliation between internal systems and Exchanges ones
  • Identify, assess, monitor and control the risks of the activity
  • Pre trade risk monitoring
  • Monitoring position for T
  • Follow-up & solving client queries related to T trades

Back office   T+1 trades

  • Clearing Houses vs Back Office Reconciliations (margins, premiums , positions, initial margins)
  • Ensure that reports sent to clients are reliable
  • Manage daily payments and intra-day margin calls
  • Ensure that all clients related issues, queries and request are addressed in an efficient, accurate and timely manner
  • Monitoring of corporate action events impacting the underlying contracts
  • Follow up  of instructions settlement processing
  • Maintenance of the accountancy balance (Market fees reconciliation, CCP vs client cash flows…)
  • Participate in projects to drive the business forward to deliver internal or market system releases (Market releases, MO/BO tools enhancements…)
  • Monitoring position for T+1
  • Process the reconciliation vis-à-vis the clearing house (trades, position, premium, Initial margin, variation margin, fees etc.) for various markets across globe.
  • Follow-up & solving client queries.

Contributing  Responsibilities

  • Manage escalations , discuss with the management when appropriate
  • Participate in client visits (if required) and conference calls
  • client focus
  • Collaborate /Liaise with other BNPP teams/stakeholders.

Technical & Behavioral Competencies

  • Strong Communication skills required for an effective liaison with counterparties and internal stakeholders to the reconciliation process. (Clients, Middle offices, marketers, traders, credit, compliance and legal)
  • Knowledge of Exchange Traded derivative products /ETD Clearing.
  • Experience of the exchanges’ and CCPs’ platforms - preferable though not required
  • Flexibility to accommodate business requirements and working hours.
  • Ability to use Excel at an intermediate level - essential
  • Excellent numerical and analytical skills - essential
  • Ability to analyse large volumes of data
  • High attention to detail and quality focused
  • Be comfortable with escalation and managing issues as they arise
  • Forward thinking and proactive with the ability to question process
  • Ability to work under pressure
  • Team Player

Specific Qualifications (if required)

  • Bachelor’s degree from a college or university
  • Strong Communication skills and client focus oriented
  • Fundamental understanding of clearing /Futures & Options markets.
  • Knowledge of all Microsoft Office applications (Excel, Word, PowerPoint, Access)
                               

Skills Referential

Behavioural Skills: (Please select up to 4 skills)

Attention to detail / rigor

Organizational skills

Personal Impact / Ability to influence

Critical thinking

Transversal Skills: (Please select up to 5 skills)

 

Ability to understand, explain and support change

Analytical Ability

Ability to develop and leverage networks

Ability to understand, explain and support change

Choose an item.

Education Level:

Bachelor Degree or equivalent

Experience Level

12  to 18 years

Other/Specific Qualifications (if required)

NA

       
  • Specific Qualifications (if required)

    • Bachelor’s degree from a college or university
    • Strong Communication skills and client focus oriented
    • Fundamental understanding of clearing /Futures & Options markets.
    • Knowledge of all Microsoft Office applications (Excel, Word, PowerPoint, Access)
                                   

    Skills Referential

    Behavioural Skills: (Please select up to 4 skills)

    Attention to detail / rigor

    Organizational skills

    Personal Impact / Ability to influence

    Critical thinking

    Transversal Skills: (Please select up to 5 skills)

     

    Ability to understand, explain and support change

    Analytical Ability

    Ability to develop and leverage networks

    Ability to understand, explain and support change

    Choose an item.

    Education Level:

    Bachelor Degree or equivalent

    Experience Level

    12  to 18 years

    Other/Specific Qualifications (if required)

    NA

     
Primary Location
IN-KA-Bangalore
Job Type
Standard / Permanent
Job
OPERATION PROCESSING
Education Level
Bachelor Degree or equivalent (>= 3 years)
Experience Level
At least 12 years
Schedule
Full-time
Reference
OPE001908


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