The bank for a changing world

Team Lead - Hedge Fund Services

Contract

Standard / Permanent

Location

IN-MH-Mumbai

Job function

OPERATION PROCESSING

Reference

ASS001104

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 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         

  • Ensure reconciliations (cash, position, OTE, 3 way) are produced accurately and in a timely manner.
  • Ensure that, client issues/concerns are addressed and resolved within the agreed timelines.
  • Ensure high level of communication network is established will all the departments within the Business group.
  • Ensure all the documentation is in place w.r.t Risk mitigation and Control.
  • Prioritize the work and conduct investigation with due diligence on all the discrepancies.
  • Work with staff to take corrective measures/actions.
  • Ensure procedures are in place to effectively deal with exceptions and that they are reviewed, researched, documented and resolved in a timely manner.
  • Ensure all the necessary training is been provided to the team members to perform the relevant tasks.
  • Ensure that, the Back-up management tool is in place for all the team members.
  • Consistently evaluate and update documented procedures to ensure they are complete, accurate and current.
  • Preparation of Key/Standard Operating Procedures for each process migrated to Chennai Hub.
  • Work on strategic development projects for business transformation, etc.
  • Closely working with the Head of Department to integrate the new service in to the Chennai hub.
     
  • Managing delivery of accurate and timely NAVs for hedge funds – with extremely high volume or / and very high complexity (having  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
  • Requires to review complex hedge fund NAVs
  • Managing 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
  • Troubleshoot issues of junior members and mentor / coach / buddy them
     

Job requirements

Number of staff supervised: 4

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

Total years of experience:  5-8 years

Relevant years of experience:  4+ years

Knowledge and skills required

  • Working knowledge of Advent Geneva required.
  • Hedge fund reconciliation processes experience a must – ability to understand and resolve breaks in a hedge fund operating environment (systems, asset classes, deliverable timelines, etc.).
  • Prior experience in Redux – Viteos reconciliation system preferred.
  • Deep operational understanding of asset classes like futures & options, equity swaps, CDS, etc. apart from equities and bonds.
  • Exposure to global colleagues, clients and teams preferred – develop a strong working relationship with global offices key.
  • He / She will be expected to troubleshoot and manage deliveries of a team of people – should be able to coach, guide and mentor staff apart from day to day delivery management.
     
     
    Job specific competencies

Client Focus

Complete commitment to provide professional, intelligent and timely responses to our clients’ needs and to changes in the market.

Communication

Oral: Expressing ideas effectively in individual and group situations. Adjusting communication style to match the needs of the audience.
 
Written: Expressing ideas clearly in all written documents. Using professional, appropriate language at all times, and adhering to the use of the BNPP Email Protocols.

Team Work

Work effectively with team members to accomplish goals, Respect the needs of others and displays integrity in dealing with team members.

Continuous Improvement and adaptation

Generate creative solutions to problems, Ability to plan work ahead and to prioritize workload in an organized manner. Always looks for ways to improve services and processes.