Rates/ FX Drafting Manager

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 :

Product Control is part of COCE (Client Operating Centre of Excellence), performing multiple Middle Office functions. Product Control have 6 verticals - P&L and Valuation Controls, OTC Trade Validation, Securities Trade Validation & Documentation, OTC Documentation, Trading & Portfolio Control and Position Management. Team works very closely with Trading, Sales, Business Managers and various FtB teams like Back Office, Regional Finance and COO community.

Job Title:

Rates/FX Drafting Manager

Date:

2024

Department:

COCE Product Control

Location:

Mumbai/Bangalore

Business Line / Function:

COCE Product Control

Reports to:

(Direct)

VP

Grade:

(if applicable)

Manager

(Functional)

Number of Direct Reports:

NA

Directorship / Registration:

NA

Position Purpose

Global Markets Documentation

The officer will be a part of the confirmation drafting team for Foreign Exchange, Money Market, Equity Derivatives, Credit and Interest Rate Derivatives.

Responsibilities

Direct Responsibilities

The Drafting team is responsible for ensuring that all BNP Paribas confirmations are Dispatched to clients i.e Interbank and Corporate Clients. The team covers a wide range of products traded by the Trading desks such as Vanilla products and the more complex Structured trades.

The Drafting team is also responsible to perform final verification of the trade economics before dispatching the final confirmations to counterparts.

The team works closely with other Trade Processing teams, legal teams and Front Office to ensure timely communication for any booking discrepancies, template issues and outstanding confirmations.

Also in the light of EMIR regulation and risk reduction, the target is to match all confirmations within one day and globally to reduce the outstanding confirmations delay.

Confirmation Drafting/Execution responsibilities:

To draft confirmations with counterparts for wide range of Products including Foreign Exchange, Money Market, Equity Derivatives, Credit and Interest Rate Derivatives.

• To closely comply with EMIR, FED and Dodd-Franck regulation
• To follow up any type of amendments requests
• Ensure confirmations are sent or suppressed in accordance with procedure
• Ensure accurate completion of drafting tasks within the internal service level agreements, client requirement and regulatory timelines
• Ensure all correspondences are indexed into system to allow for future data retrieval
• Prepare KPI file as per set frequency
• Active participation in KRI / KPI review call with onshore leads
• Support decision making process by performing data analysis
• Periodically revisit existing KPIs to make it more robust for the betterment of the process
• Ensure quality assurance by performing spot checks & maintenance of internal error log.
• Formulate error remediation plan and implementation.
• Periodic performance appraisal and constructive feedback to direct reports.
• Lead process transition in collaboration with onshore counterparts
• Drive process improvement initiatives within his / her remit.
• To be pro-active and analyze potential risk to process well in advance.
• Ensure proper documentation of controls, & audit trails. Ensure proper channels of escalation are abided by
• Relevant weekly/Monthly/Quarterly meetings to be held with the teams
• Bridge the gap on regional discrepancies and align with Global standards.
• Client Centricity - continue to build on your team’s reputation with all customers through clear communications and timely resolution to concerns raised.

Bring Direct contribution to BNPP operational permanent control framework

Minimize operational failure, including but not exclusively the risk of fraud by helping to devise and by implementing sufficient regular controls

Ensure appropriate escalation to management and/or permanent control (or compliance as appropriate) as soon as an issue is identified.

Ensure that documentation controls are done daily, comments detailed clearly, and be responsible for reliability of records

Ensure set KPIs are met

Contribute to the quality of the team / dept by:

• Monitoring new joiner / cross training to ensure no deviation from expected timelines.
• Highlighting processing improvement opportunities
• Assisting in the training of new entrants
• Maintain internal error log and periodic discussion with the team to reduce incidence occurrence
• Periodic performance appraisal for direct reports
• Ensure business delivery as per agreed procedure
• Support decision making process by performing data analysis
• Periodically revisit existing KPIs to make it more robust for the betterment of the process
• Take lead in process transition in collaboration with onshore leads and project.
• Formulate error remediation plan and implementation.
• Periodic performance appraisal and constructive feedback to direct reports.
• Drive process improvement initiatives within his / her remit.

Key results areas:

• Customer Services

To be customer-focused and maintain a high quality services standard

Contributing Responsibilities

Continuous Control & Improvement:

• Continuous review of processes and controls ensuring we minimize the Operational Risk to BNP Paribas.
• Drive / lead Permanent Control framework
• Efficiency save to be generated in line with Organizational objective through removal of manual touch points, automation, process improvements etc.
• Support the team in improving day to day practices and define transversal project at the aim to smooth our daily experience

Projects

• Lead / Participate in global projects related to any Documentation processes improvements.

·       Play a key Role in Project Management

Key results areas:

·       Process Alignment

·       Capacity to handle larger teams / continuous improvement/project delivery

Technical & Behavioral Competencies

·       Technical competencies :

·       Fluent English

·       ISDA definitions & templates

·       Front to back workflow

·       Risk Management

·       Strong analytical skills

·       Ability to innovate

·       Strong team player and strong problem-solving mindset as well as client-oriented

·       Advanced proficiency in Excel & presentations

·       Ability to handle larger teams .

·       Behavioral Competencies :

·       Organized & good resistance to stress

·       Attention to detail

·       Ability to prioritize workloads & use a proactive approach to meet deadlines

·       Self-discipline & autonomy

·       Adaptability & Change Management: Fungible resource who is ready to adapt

·       Strong Client Focus: Client is at the center of all our concerns.

·       Escalation & Reporting

·       Effective escalation and consensus builder

·       Significant experience in Documentation (drafting /chasing/matching)

·       Bachelor or Master Degree on Economics, Mathematics or Finance.

Fluent in English (both oral and written communication)

Specific Qualifications (if required)

·       Significant experience in Documentation

·       Bachelor or Master Degree on Economics, Mathematics or Finance.

Skills Referential

Behavioural Skills: (Please select up to 4 skills)

Attention to detail / rigor

Ability to deliver / Results driven

Personal Impact / Ability to influence

Creativity & Innovation / Problem solving

Transversal Skills: (Please select up to 5 skills)

Ability to set up relevant performance indicators

Ability to manage a project

Ability to develop others & improve their skills

Ability to anticipate business / strategic evolution

Ability to inspire others & generate people's commitment

Education Level:

Bachelor Degree or equivalent

Experience Level

At least 10 years

Other/Specific Qualifications (if required)