The bank for a changing world

Associate - Collateral Management(BP2S)


Standard / Permanent



Job function




Overview :

The Collateral Management Group processes the Net Present Value of the portfolio of trades between BNP Paribas Securities Services (BP2S) clients and their counterparties on a daily and adhoc basis, to ensure that the exposure is sufficiently collateralised


- The analyst interacts closely with clients or BP2S middle office, BP2S Legal, business development, Operations and the counterparties. The collateralised portfolios consist of practically all OTC products traded by the clients. The process requires checking on data integrity, comparison of exposures with the value of the assets pledged, in accordance with the parameters specified in the legal agreement. Changes in the portfolio PV (due to market price fluctuations, or new / matured trades) will generate changes in the required collateral balance. The collateral teams will call for or post additional collateral, depending on the direction of movement of the PV of the trade portfolio relative to collateral pledged. This daily margin call process ensures that at all times, the clients and the counterparties remain as protected as possible from excessive credit risk exposure, and hence can minimise the amount of regulatory capital set aside against credit risk.


1) Client facing

• Manage the client relationship on a daily basis

• Manage client queries

• Manage recurrent service reviews monitoring open action logs

• Follow up with the team on queries raised by brokers

• Produce client monthly invoices and key performance indicators (KPIs)

• Contribute to client demo or due diligence


2) Controls

• First level of control and 4 eye checks on BAU production

• Contribute to the monthly second level control plan

• Contribute to client and internal audits

• Contribute to ISAE certification preparation

• Review the reconciliation performed by the team: cash and securities balances, movement…

• Contribute to the weekly production meeting and daily stand up team meeting

• Contribute to monthly statistics and key indicators for management


3) Procedures

• Document and update procedures (if specific processes are required to support an agreement)

• Support change and improvement of processes


4) System enhancement

• Propose system enhancement for better risk monitoring and/or work efficiency

• Participate in testing collateral management system new releases (UATs)

• Contribute to recurrent follow up meeting with IT Support team


5) Preparing and conducting the margin calls

• Data

i) Checking integrity of data feed from providers (PV, prices, ratings, static data…) and liaising with application support teams if required

ii) Collating daily PV from systems

iii) Processing manual adjustments for data not received in the automatic feeds

iv) Liaising with BP2S or clients’ Middle Office and querying PV

v) Investigating and escalating data anomalies (typically static data)

• Margin calling

i) Making & receiving margin calls in a timely manner

ii) Booking margin calls in the collateral management system

• Dealing with counterparty queries

6) Collateral movements

• Investigate settlement fails with back-offices and escalate to supervisor / manager

• Arrange substitutions – prepare collateral movements instructions

• Calculate / validate interest on cash balances calculations


7) Portfolio reconciliations

• Reconcile portfolios with counterparty on a regular basis and when appropriate (ie when disagreement with the counterparty), using Tri-Optima

• Reconcile new portfolios with counterparty as part of negotiation process

• Investigate differences (query the relevant middle or back offices for confirmations, confirm PVs with the marketer, the counterparties, etc)

• Liaise with other BP2S teams (transaction management, independent valuation and portfolio reconciliation)


8) New Business

• Read and analyse credit support annex (CSA) or equivalent received from clients

• Input new agreement in the collateral platform

• Contribute to the process of input and validation of new agreements and static data into the collateral platform

• Contribute to maintain the log of new activity to be set up

• Maintain a log of all unsupported clauses signed off by clients

• Contribute to mini projects


• Experience in derivatives margin calling in an organisation which has significant presence in OTC Product knowledge on derivative products

• Legal Documentation in relation collateral agreements (i.e ISDA, CSA...) is required. Previous experience in uploading CSA with all terms is a plus

• Experience gained in a derivatives middle / back office will be considered as a plus

• Knowledge of cash and securities settlement processes

• Work experience gained in a role requiring significant problem solving skills

• Strong communication skills - essential for client communication and external counterparties

• Proficient user in Excel and setting up macros where necessary

• General risk awareness and strong awareness of operational risk

• Committed team player - there may be long hours: the team is small, work is dependent on the availability of upstream systems, which may be late, counterparties may also be late in confirming their agreement to our margin calls)

• Easily adaptable and capable of dealing with change

• Rigor, attention to details and organizational skills

• Singapore and UK time zone shift with a rotation of 2/3 months

• Language : fluent English, another European language will be a plus