Senior Associate - Collateral Management (NY)
About BNP Paribas Group:
BNP Paribas Group is a leading European bank with a strong global footprint across 72 markets and more than 202,000 employees. The Group provides corporates, institutional and private investors with product and service solutions tailored to their specific needs. It offers a wide range of financial services covering corporate & institutional banking, wealth management, asset management, insurance, as well as retail banking and consumer financing through strategic partnerships
About BNP Paribas India Solutions:
Established in 2005, BNP Paribas India Solutions is a wholly owned subsidiary of BNP Paribas Group, a leading bank in Europe with an international reach. With delivery centers located in Mumbai and Chennai, we are a 24x7 global delivery center. We partner various business lines of BNP Paribas such as Corporate and Institutional Banking, Wealth Management, Retail Banking through three verticals - Information Technology, Operations and Finance Shared Services.
About Businessline/Function :
The Collateral Management Group compares the Net Present Value of the portfolio of trades between BNP Paribas and its counterparties on a daily (or as specified) basis and ensure that this exposure is sufficiently collateralized.
Business Line / Function:
Global Market Operations
Number of Direct Reports:
Directorship / Registration:
The process requires comparison of exposures with the value of the assets pledged, in accordance with the parameters specified in the legal agreement. Changes in exposure will generate changes in collateral balance. The collateral teams will call for or post additional collateral. This daily margin call process ensures that the Bank is covered in terms of excessive credit risk exposure.
· Performing daily margin call process front to back for specified clients.
· Margin Call issuance and chasing clients for unanswered margin calls.
· Investigating on disputed calls and liaising with client, MO and legal on various aspects of disputed margin calls.
· Chasing clients on failed/missed payments.
· Investigating with settlements team on all bonds that have not settled in the market.
· Working on Substitution requests sent by clients/traders.
· Booking interest for all monthly clients.
· Investigating on Interest discrepancies.
· Perform and respond to control report to ensure effective break, fails and exception management.
· Presenting findings to the managements during meetings.
· Creating and maintaining KPIs and also perform quality checks.
· Point of escalation for client queries, trade breaks and fails resolution.
· Work closely with other managers in Collateral Operations to perform effective capacity management.
· Working on developing and implements new controls / processes based on Business/ Risk / Industry evolution to better support the risk management needs of BNPP.
Technical & Behavioral Competencies
· Strong Communication skills required for an effective liaison with counterparties and internal stakeholders to the reconciliation process. (Middle offices, marketers, traders, credit, compliance and legal)
· Knowledge of derivative products (Credit, Interest Rate, FX , Equities)
· Strong knowledge of Trade Life Cycle.
· Experience in Portfolio Reconciliation Operations, Collateral Management Operations or another Middle Office Operation functions within Investment Banking is favorable.
· Basic Excel skills required.
- Experience of ISDA /GMRA documentation.
Specific Qualifications (if required)
Behavioural Skills: (Please select up to 4 skills)
Attention to detail / rigor
Personal Impact / Ability to influence
Transversal Skills: (Please select up to 5 skills)
Ability to understand, explain and support change
Ability to develop and leverage networks
Ability to develop others & improve their skills
Ability to manage / facilitate a meeting, seminar, committee, training…
Bachelor Degree or equivalent
At least 3 years
Other/Specific Qualifications (if required)