The bank for a changing world

Junior Forex and Money Markets Settlements Officer (M/F)

Contract

Standard / Permanent

Location

PT-11-Lisbon

Job function

FINANCIAL AND TECHNICAL EXPERTISE

Reference

16_077_Settlements

The BNP Paribas Group is a leader in banking and financial services, employing over 184,000 people across 75 countries and 5 continents.
 
BNP Paribas Corporate & Institutional Banking (CIB) is a leading European investment bank with global leadership in many of our businesses. BNP Paribas CIB, with nearly 30,000 employees in over 57 countries, can offer you an exciting and truly global career.
 
The Forex and Money Market (FXMM) Settlement team is part of the Settlement Department of Global Markets Operations. This team is in charge of the settlement of all Foreign Exchange, Precious Metal and Money Market transactions done under BNPP Paris and BNPP London entities by the Global Markets and Asset and Liability Management (ALM) & Treasury Businesses.
 
This settlement team leveraging on its centre of expertise is also servicing other BNPP Group entities such as BNP Paribas Securities Services, FINAMS, Personal Finance, Opera… for the settlement of their Forex and/or Money Market trades.
 
Our main clients are international Corporates (major corporations & medium-sized companies) and Financial Institutions (general and specialised international Banks including Central Banks, pension funds, fund managers, insurance companies and supranational entities).
 
The Settlement teams handle all transactions initiated by Global Markets trading desks mainly based in Paris, London, Singapore and New York, by ensuring that all trades feeding the Operation systems are announced to the BNPP Treasury and settled in due time.
 
The Settlement team’s primary function is to ensure that settlements of all transactions booked by Trading and Sales desks through the Front Office systems are paid in accordance with BNPP Procedures and in due time.
 
A wide range of products are traded by the Trading desk in all currencies and precious metals including FX Spot, FX Forward, FX Swap, Non Deliverable Forward (NDF), vanilla and exotic FX Option, Loan & Deposits, Bullion, Structured Products, Cash Collateral.
 
The Settlement team ensures that all payments are properly controlled; all issues identified should be reported and fixed in a timely manner by working closely with a wide range of departments: the Confirmation Matching teams, Payment Investigations team, Front Office (sales & traders), Trade Support / Middle-Office, IT, Compliance, Counterparty Risk, Legal departments.
 
The Settlement team performs critical Control and Risk roles through the daily management of the Embargo and Sanctions payment alerts that could occurred.
The team is also responsible for verbal and written affirmation of trade or cash-flows details with client’s prior to settlement date, notably on the Netting process.
Settlement teams are involved in process improvements with special focus on STP processing and management of risk and controls, new product initiatives, development of new business in all regions.
 
 
RESPONSIBILITIES
 
  • Make sure non Straight Through Processing (STP) events are properly managed within the Operations system and ensure deals are flowing within Operations system with no delay
  • Make sure payments (bilateral, netted…), advices of receipt are processed once deals are matched, pre-matched or once cash flow/netting has been confirmed/reconciled with counterparties
  • Make sure payments are done before cut-off taking into account each currency specificity, and ensure no payment incident occurs.
  • Manage specific processes regarding settlement Instructions when required (on non STP, urgent payment, coordination with referential teams for Standard Settlement Instructions…)
  • Responsible for the full payment netting process including set up (agreeing netting conditions with counterparts including legal documentation, promote BNPP Internal Netting digital tool…) and day to day validation process
  • Make sure settlements are done according to Risk and Compliance Group guidelines/requirements including embargoes/sanctions alert management, specific Risk procedures to reduce settlement risk…
  • Make sure treasury announcements are sent to Treasury Forecasting team allowing BNPP Treasury to manage Nostro accounts liquidity.
  • Resolving queries and exceptions in relation with relevant departments, understanding the importance of effective escalation.
  • Responsible on a daily for reporting the status of controls and remaining operational risk on the scope of responsibility.
  • Daily liaison with counterparts on discrepancies and assisting them to meet their needs regarding payments
  • Analyse & Manage payments incidents in coordination with payment investigation teams
  • Active participation to the “team life” (formalisation of team procedure, training, coaching new staff, contribution to improve team efficiency, operational process or IT functionality…)

SKILLS
  • Degree in Finance
  • Fluent in English (both oral and written communication)
  • Banking experience with an emphasis in Payments and Operations management
  • Knowledge of Banking Payment Environment (Correspondent banking, Swift payment network…)
  • Knowledge of Foreign Exchange and Money Markets products.
  • Strong Excel Skills
  • Controls oriented profile, ability to manage operational risks
  • Ability to learn quickly and adaptability in a fast pace work environment
  • Analytical skills, effective problem solver and consensus builder
  • Ability to prioritize workloads and use a proactive approach to meet deadlines
  • Excellent communication and interpersonal skills, team spirit and client focus
  • Availability for a training period abroad (up to 3 months)