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Senior Associate - Repo Bond Settlements New Issuance

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Job type
Permanent
Schedule
Full time
Job Function
Transaction processing
Brand
BNP Paribas India Solutions
Study level
Short-cycle tertiary education & Bachelor Degree or equivalent (3 years)
Location
Bengaluru, Maharashtra, India
Apply (REF: 48319825)
Last update 18.12.2024
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Job Description 

Repo/Bonds settlements

 

About BNP Paribas India Solutions:

Established in 2005, BNP Paribas India Solutions is a wholly owned subsidiary of BNP Paribas SA, European Union’s leading bank 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 10000 employees, to provide support and develop best-in-class solutions.

About BNP Paribas Group:

 BNP Paribas is the European Union’s leading bank and key player in international banking. It operates in 65 countries and has nearly 185,000 employees, including more than 145,000 in Europe. The Group has key positions in its three main fields of activity: Commercial, Personal Banking & Services for the Group’s commercial & personal banking and several specialised 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, the Group 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. In Europe, BNP Paribas has four domestic markets: Belgium, France, Italy, and Luxembourg. The Group is rolling out its integrated commercial & personal banking model across several Mediterranean countries, Turkey, and Eastern Europe. As a key player in international banking, the Group has leading platforms and business lines in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific. BNP Paribas has implemented a Corporate Social Responsibility approach in all its activities, enabling it to contribute to the construction of a sustainable future, while ensuring the Group's performance and stability

Commitment to Diversity and Inclusion

At BNP Paribas, we passionately embrace diversity and are committed to fostering an inclusive workplace where all employees are valued, respected and can bring their authentic selves to work. We prohibit Discrimination and Harassment of any kind and our policies promote equal employment opportunity for all employees and applicants, irrespective of, but not limited to their gender, gender identity, sex, sexual orientation, ethnicity, race, colour, national origin, age, religion, social status, mental or physical disabilities, veteran status etc. As a global Bank, we truly believe that inclusion and diversity of our teams is key to our success in serving our clients and the communities we operate in.

About Business line/Function:

Global Market Securities Settlements team ensures that Security transactions (Bonds, Equities, 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, and event-related accounting for securities deemed in scope.

 

Job Title:

Senior Associate

Date:

 2024

Department:

Global Markets Operations – Securities settlements

Location:

Bengaluru

Business Line / Function:

Global bond settlements

Reports to:

(Direct)
NA

Grade: 

(if applicable)

Senior Associate
(Functional)
 

Number of Direct Reports:

NA

Directorship / Registration:

NA
 
 
 
 

Position Purpose

 

Primary responsibilities of the team includes:

  • Settlement of Repo/Bonds transactions and associated products in a timely and cost effective manner
  • Timely resolution of nostro and depot breaks
  • Mitigation of operational and reputational risk by escalating in a timely and efficient manner
  • Liaising with clients, brokers / counterparties and other internal support functions for smooth settlement of trades
 

Responsibilities

 

Key Responsibilities:

  • Responsible for the settlement of Repo and Bonds 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 
    • Reducing fails and/or potential fails by means of pairing off or partialing down deliveries
    • Minimizing fails by means of partial deliveries where possible
    • Pre-matching trades in a daily basis
    • Cash Management related with funding trades
 
  • 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 the 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 
    • Monitors 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. 
 
 
 
 
 
 

Skills and competencies:

  • Ability to analyse, organize and report efficiently
  • Flexibility on working methods and changing international environment
  • Rigorous and reactive in order to face pressure and reach excellence anytime
  • Diligently follow the set procedures and Compliance policies
  • Knowledge of financial markets and products, and easiness/expertise in dealing with Excel.
  • English speaker
 

Experience Required

Minimum of 5 years experience

 

Skills Referential

 
Behavioural Skills: (Please select up to 4 skills) – 
 

Ability to deliver / Results driven

 
Ability to collaborate / Teamwork
 

Communication skills - oral & written

 
Attention to detail / rigor
 
Transversal Skills: (Please select up to 5 skills)
 
 

Ability to understand, explain and support change

 
Analytical Ability
 

Ability to develop others & improve their skills

 
Choose an item.
 
Choose an item.
 
Education Level: 

Bachelor Degree or equivalent

 
Experience Level : 
At least 5 years
 

Other/Specific Qualifications (if required)
 

 
 
 
 
 
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Why should I apply?

Basically, why would you want to join BNP Paribas over any other company?

BECAUSE YOU'RE THE KIND OF PERSON WHO WANTS...

  • What if we told you that working in our Group isn’t quite what you might think? At BNP Paribas, we do a multitude of different jobs that are constantly evolving to meet the expectations of our clients and society as a whole. Whether through everyday tasks or major projects, doing one of our jobs means making a personal commitment to taking sustainable action.

  • Feeling good about your job means bringing your whole self to work and being who you are. It’s also about having the resources you need to achieve a healthy work-life balance. Both of these are major commitments at BNP Paribas.

  • At BNP Paribas, developing your skills is as important to us as it is to you. And the skills you learn with us will help you through the rest of your working life.

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