The bank for a changing world

Associate - Hedge Fund Services

Contract

Standard / Permanent

Location

IN-MH-Mumbai

Job function

OPERATION PROCESSING

Reference

ASS001176

Company Background

The Bank

With a presence in over 80 countries and employing over 200,000 staff, BNP Paribas is one of the biggest banks in the world, ranking highly in its three core business areas: Retail Banking, Corporate and Investment Banking and Investment Solutions.

BNP Paribas Securities Services

A wholly-owned subsidiary of the BNP Paribas Group, BNP Paribas Securities Services is a leading global custodian and securities services provider backed by the strength of a universal bank (rated AA- by Standard and Poor’s). It has USD 5,800 billion assets under custody, USD 1,000 billion assets under administration and administers close to 7000 funds. BNP Paribas Securities Services (Securities Services) has a unique multi-local model, servicing both the buy-side (the institutional investors and the fund managers) and sell-side (the broker-dealers community and the banks) with 7,700 employees worldwide representing 92 nationalities, a local presence across 34 countries, 22 proprietary local custody and clearing branches and global coverage of over 100 markets.

Securities Services Chennai Hub

One of the three international operations centers, BNP Paribas Sundaram Global Securities Operations (GSO) provides services to global clients in the Asian region and some “follow-the-sun” activities for European clients. Our services include custody operations, fund accounting, middle office operations, static data management, IRP and other transversal services.

Job summary

Roles and responsibilities         

-          Independent delivery of accurate and timely NAVs for hedge funds – with lesser volume and complexity (which will have equities, bonds, future, options, CDS, EQS, etc. as holdings) by completing all of the following processes:

o    Cash and position reconciliation (accounting vs PB and 3 way); with resolution of breaks

o    Income reconciliation (dividends and interest)

o    Manual Pricing and Pricing review

o    P&L review and Tolerance checks

o    Fees accrual, management and performance fee calculation and booking

o    Capital bookings and reconciliation with Investor services system reports

o    TB tie out and compiling NAV pack

-          Delivery on audit requests and resolution of all queries on the same

-          Participation in system development projects, process change projects, etc.

-          Ensure appropriate checks and balances are followed and documentation  is maintained to ensure no internal quality or internal compliance, internal audit or ISAE findings

-          Compliance with all internal organizational and business policies 

 

Job requirements

Number of staff supervised: None

Educational qualifications: Graduation/Post Graduation with specialization in Finance / NCFM Certified .

Total years of experience: 0-1years

Relevant years of experience:  0-1 years

Knowledge and skills required

  • Good understanding and ability to apply basic accounting principles.
  • Have a decent understanding of capital markets; any internship or exposure to capital market operations would be added advantage.
  • Have decent understanding of asset classes like equities, bonds, futures, options and swaps; while theoretical knowledge is a must, ability to think through how they operate in real world would be added advantage.
  • Candidates to research on hedge funds industry and demonstrate how much they understand of it. Ability to showcase understanding of fund administration business would be an added advantage.

 

Ambitious / Driven

Should demonstrate the hunger to learn and grow. Should be a go-getter i.e. proactive, driven and demonstrate ability to stretch for the learning / growth.

Financial / Capital Markets Interest

Should want to genuinely make a long term career in financial / capital markets and demonstrate interest in the field.

Quick learner

Should inspire confidence that he/she can learn and pick up skills / knowledge quickly.

Smart / Analytical capabilities

Should come across as someone smart, who has ability to think through issues and figure out solutions.

Ability to manage stress

Should be able to perform under stressful situations - not get nervous, lose composure or confidence, be able to think through, etc.

Communication

Should be able to express himself or herself clearly without major mother tongue influence. Be able to understand and grasp the questions / requirements and frame responses appropriately. Not make any glaring written language mistakes.

Cultural fitment

Should fit the BNP culture and come across as someone who can gel and work with the team.

 


Company Background

The Bank

With a presence in over 80 countries and employing over 200,000 staff, BNP Paribas is one of the biggest banks in the world, ranking highly in its three core business areas: Retail Banking, Corporate and Investment Banking and Investment Solutions.

BNP Paribas Securities Services

A wholly-owned subsidiary of the BNP Paribas Group, BNP Paribas Securities Services is a leading global custodian and securities services provider backed by the strength of a universal bank (rated AA- by Standard and Poor’s). It has USD 5,800 billion assets under custody, USD 1,000 billion assets under administration and administers close to 7000 funds. BNP Paribas Securities Services (Securities Services) has a unique multi-local model, servicing both the buy-side (the institutional investors and the fund managers) and sell-side (the broker-dealers community and the banks) with 7,700 employees worldwide representing 92 nationalities, a local presence across 34 countries, 22 proprietary local custody and clearing branches and global coverage of over 100 markets.

Securities Services Chennai Hub

One of the three international operations centers, BNP Paribas Sundaram Global Securities Operations (GSO) provides services to global clients in the Asian region and some “follow-the-sun” activities for European clients. Our services include custody operations, fund accounting, middle office operations, static data management, IRP and other transversal services.

Job summary

Roles and responsibilities         

  • Independent delivery of accurate and timely NAVs for hedge funds – with lesser volume and complexity (which will have equities, bonds, future, options, CDS, EQS, etc. as holdings) by completing all of the following processes:
    • Cash and position reconciliation (accounting vs PB and 3 way); with resolution of breaks
    • Income reconciliation (dividends and interest)
    • Manual Pricing and Pricing review
    • P&L review and Tolerance checks
    • Fees accrual, management and performance fee calculation and booking
    • Capital bookings and reconciliation with Investor services system reports
    • TB tie out and compiling NAV pack
  • Delivery on audit requests and resolution of all queries on the same
  • Participation in system development projects, process change projects, etc.
  • Ensure appropriate checks and balances are followed and documentation  is maintained to ensure no internal quality or internal compliance, internal audit or ISAE findings
  • Compliance with all internal organizational and business policies 

 

Job requirements

Number of staff supervised: None

Educational qualifications: Graduation/Post Graduation with specialization in Finance / NCFM Certified .

Total years of experience: 0-1years

Relevant years of experience:  0-1 years

Knowledge and skills required

  • Good understanding and ability to apply basic accounting principles.
  • Have a decent understanding of capital markets; any internship or exposure to capital market operations would be added advantage.
  • Have decent understanding of asset classes like equities, bonds, futures, options and swaps; while theoretical knowledge is a must, ability to think through how they operate in real world would be added advantage.
  • Candidates to research on hedge funds industry and demonstrate how much they understand of it. Ability to showcase understanding of fund administration business would be an added advantage.
 
Ambitious / Driven
Should demonstrate the hunger to learn and grow. Should be a go-getter i.e. proactive, driven and demonstrate ability to stretch for the learning / growth.
Financial / Capital Markets Interest
Should want to genuinely make a long term career in financial / capital markets and demonstrate interest in the field.
Quick learner
Should inspire confidence that he/she can learn and pick up skills / knowledge quickly.
Smart / Analytical capabilities
Should come across as someone smart, who has ability to think through issues and figure out solutions.
Ability to manage stress
Should be able to perform under stressful situations - not get nervous, lose composure or confidence, be able to think through, etc.
Communication
Should be able to express himself or herself clearly without major mother tongue influence. Be able to understand and grasp the questions / requirements and frame responses appropriately. Not make any glaring written language mistakes.
Cultural fitment
Should fit the BNP culture and come across as someone who can gel and work with the team.