BNP Paribas, one of the major banks in Europe with a strong presence throughout the world, is a leader in Global Equities & Commodity Derivatives. As part of this activity, the Middle-Office is an important component, with teams established in the major financial places (New-York, London, Tokyo, Hong-Kong and Paris). The main missions of these teams are:
- The management of operations in the booking systems.
- The follow-up of client billing and reporting.
- The reconciliation of positions between FO and booking systems.
- The calculation, explanation and analysis of the daily profits and losses including reconciliation with Financial accounting results.
- The management of the referential data.
- The management of relationships with BO and Custodians.
- The management of Corporate Action events and advice to FO teams.
These missions are accomplished through a close relationship with Back-Offices, Traders, Sales, IT and Business Analysts. In this context, the OTC Trade Support is a key component of New York Global Market Middle Office (46 persons). They cover all the activities and products of the Global Market business in North America, which includes equity derivatives, commodities, credit, delta one products and prime services.
- Monitoring of Operational Risk:
- Provide efficient FO Support with aim to guarantee accuracy of FO position
These responsibilities are realized in close relationship with the Front Office (Trading /Sales), Back-Office, accountabilities entity, data processing, information technology (IT) and project management teams. MO liaises locally and globally with goal to ensure FO position and prioritize risk on a daily basis.
- Monitoring of Operational Risk:
- Providing proper FO Support: Products included but, not limited to; portfolio swaps, equity derivatives, equity swaps…
- Operational risk and risk of fraud set at a minimum by having in place consistent and adequate controls
- Orus: signoff completed daily with full disclosure of detailed reports checked, issues faced and risk accurately assessed.
- Improve existing processes with overall STP flow and ensure highest quality of booking
- Issues identified and timely escalated to his/her direct management, FO management and Permanent Control team
- Position Management:
- Guarantee accurate trading positions in FO systems
- Comparing positions between FO, MO and BO.
- Daily goal is to correct all discrepancies originated by system bugs, input mistakes, information loss
- To ensure/guarantee the payoff in the Front-Office systems
- To ensure all the reconciliation are performed in timely manner and every breaks are cleaned
- Guarantee Up to date Middle Office Databases
- Includes expiry of products, amendments of deals characteristics, deal insertion/cancellation, secondary trade management.
- Includes Corporate Action Management. Processes in MO system to be in line with market and communicates with F
- To promote an efficient dialog/discussion between the Front office and the Back-Office
- The MO must promote an efficient dialog/discussion between the Front-Office and the Back-Office by knowing how to manage priorities with aim to escalate relevant/pertinent information.
- Client service:
- Global point of contact for Prime Brokerage US client.
- Provide and review all position reports with client.
- Review and confirm settlement with clients.
- Answer all client operational requests.
- At least 2 years of relevant financial industry experience.
- BS – Economics, Finance, Accounting or other related field of study.
- Good qualification level in equity derivative markets.
- Knowledge in prime brokerage activities.
- Experience on financial markets (Middle Office and Back Office).
- Strong sense of risk and critical thinking.
- Rigorous and very organized
- Proactive and displays willingness to take initiative.
- Maintains high quality of customer service.
- Ability to effectively listen and communicate.
- Display good relationship qualities, team spirit, and ability to work cross-functionally.
- Maintains acceptable response to stress.
- Direct contribution to BNP Paribas operational permanent control framework.
FINRA Registrations Required: