SENIOR ASSOCIATE - RECONCILIATIONS (JOB NUMBER: OPE002680)

DEC -Clearing



About BNP Paribas Group:


BNP Paribas is a top-ranking bank in Europe with an international profile. It operates in 71 countries and has almost 199 000 employees. The Group ranks highly in its three core areas of activity: Domestic Markets and International Financial Services (whose retail banking networks and financial services are grouped together under Retail Banking & Services) and Corporate & Institutional Banking, centred on corporate and institutional clients. The Group helps all of its clients (retail, associations, businesses, SMEs, large corporates and institutional) to implement their projects by providing them with services in financing, investment, savings and protection. In its Corporate & Institutional Banking and International Financial Services activities, BNP Paribas enjoys leading positions in Europe, a strong presence in the Americas and has a solid and fast-growing network in the Asia/Pacific region.


About BNP Paribas India Solutions:



Established in 2005, BNP Paribas India Solutions is a wholly owned subsidiary of BNP Paribas SA, a leading bank in Europe with an international reach. With delivery centers located in Bengaluru, Chennai and Mumbai, we are a 24x7 global delivery center. India Solutions services three business lines: Corporate and Institutional Banking, Investment Solutions and Retail Banking for BNP Paribas across the Group. Driving innovation and growth, we are harnessing the potential of over 6000 employees, to provide support and develop best-in-class solutions.


About Business line/Function:


Global Market Operations (GMO) covers Front Office activities such as ALM/Treasury and Fixed Income local booking. GMO consists of various streams, Control and Investigations, Settlement, Collateral and Reconciliation. GMO teams are also in regular contact with Capital Market Middle Office, Regional Back Office’s and Regional Finance.


Job Title:


Sr. Associate


Date:


2024


Department:


DEC- Clearing


Location:


Bengaluru


Business Line / Function:


Derivatives Execution & Clearing Operations


Reports to:

(Direct)


Team leader/Assistant Manager


Grade:

(if applicable)


NA


(Functional)


Number of Direct Reports:


NA


Directorship / Registration:


NA



Position Purpose


The candidate would be Part of Derivative Execution and clearing team, working along with the DEC Market Fees Reconciliation and Brokerage team.The role would concentrate To clear and allocate exchange traded derivatives trade on behalf of the client. Ensure all top day trades are cleared and reconciled against cleaning house by the end of day.


The role requires a high level of attention to detail, to ensure BNPP SA’s external end client fees are validated and any required corrections or amendments are processed accurately and according to procedure. The candidate would be working with large volumes of trade data so should be comfortable using Excel to summarize, as well as to drill down and independently investigate any discrepancies that may arise.


Work effectively with team members to accomplish common goals. Generate creative solutions to problems, Ability to plan work ahead and to prioritize workload in an organized manner.


Undertake a variety of financial and non-financial tasks in order to help guarantee the company’s revenues; handle the processing of incoming payments along with the issuing of necessary paperwork.


Responsibilities


Middle-office


Be the 1st point of contact for all counterparties (clients, brokers, CCPs) with regards to trade allocation/clearing
Top day trade monitoring and allocation for involved exchanges to ensure STP trade flow
Follow up of pending trades closely and ensure all clients trades are booked at T day
Perform timely reconciliation between internal systems and Exchanges ones
Identify, assess, monitor and control the risks of the activity

Back office

Clearing Houses vs Back Office Reconciliations (margins, premiums , positions, initial margins)
Ensure that reports sent to clients are reliable
Manage daily payments and intra-day margin calls
Ensure that all clients related issues, queries and request are addressed in an efficient, accurate and timely manner
Monitoring of corporate action events impacting the underlying contracts
Follow up of instructions settlement processing
Maintenance of the accountancy balance (Market fees reconciliation, CCP vs client cash flows…)
Participate in projects to drive the business forward to deliver internal or market system releases (Market releases, MO/BO tools enhancements…)
Monitoring position for T and t+1
Process the reconciliation vis-à-vis the clearing house (trades, position, premium, Initial margin, variation margin, fees etc.) for various markets across globe.
Follow-up & solving client queries
Adhere to daily checklist to ensure controls are followed.
Contributing ideas to improve the process by identifying appropriate control measures.
Ensure importance is given to four eye validation for each activity
Managing BAU emails/ phone calls related to Listed Derivatives
Ensure proper documentation for the purpose of risk and audit trail
Abiding the Service Level Agreements.
Ability to work independently, as well as in a team environment, prioritizes multiple
Tasks and meets strict deadlines.

Highlight any unresolved open items to the respective process Managers.

Risk control

Monitor activity progress against the goals and take appropriate corrective action as and when it is required
Control and ensure that all tasks are processed accurately and on a timely manner
Identify risk, suggest implementation of a first level of control.

Contributing Responsibilities


Deal with client and brokers issues escalated by the team and share it with the management when appropriate
Participate in client visits (if required) and conference calls
client focus
Collaborate /Liaise with other BNPP teams/stakeholders.
Ensure that procedures are updated and validated on a timely manner
Perform and updated the status of the assigned tasks in the daily task checklist.
Breaks analysis and dispute resolution


Technical & Behavioral Competencies


Strong Communication skills required for an effective liaison with counterparties and internal stakeholders to the reconciliation process. (Middle offices, marketers, traders, credit, compliance and legal)
Knowledge of Exchange Traded derivative products /ETD Clearing.
Experience of the commodity exchanges’ and CCPs’ platforms - preferable though not required
Flexibility to accommodate business requirements and working hours.
Ability to use Excel at an intermediate level - essential
Excellent numerical and analytical skills - essential
Ability to analyse large volumes of data
High attention to detail and quality focused
Be comfortable with escalation and managing issues as they arise
Forward thinking and proactive with the ability to question process
Ability to work under pressure
Team Player


Specific Qualifications (if required)


Bachelor’s degree from a college or university
Strong Communication skills and client focus oriented
Fundamental understanding of clearing /Futures & Options markets.
Knowledge of all Microsoft Office applications (Excel, Word, PowerPoint, Access)



Skills Referential


Behavioural Skills: (Please select up to 4 skills)


Attention to detail / rigor


Organizational skills


Personal Impact / Ability to influence


Critical thinking


Transversal Skills: (Please select up to 5 skills)


Ability to understand, explain and support change


Analytical Ability


Ability to develop and leverage networks


Ability to understand, explain and support change


Choose an item.


Education Level:
Bachelor Degree or equivalent


Experience Level

Above 3 years

Other/Specific Qualifications (if required)


NA



Bachelor’s degree from a college or university
Strong Communication skills and client focus oriented
Fundamental understanding of clearing /Futures & Options markets.
Knowledge of all Microsoft Office applications (Excel, Word, PowerPoint, Access)

Skills Referential



Behavioural Skills: (Please select up to 4 skills)



Attention to detail / rigor



Organizational skills



Personal Impact / Ability to influence



Critical thinking



Transversal Skills: (Please select up to 5 skills)



Ability to understand, explain and support change



Analytical Ability



Ability to develop and leverage networks



Ability to understand, explain and support change



Choose an item.



Education Level:
Bachelor Degree or equivalent



Experience Level

Above 3 years

Primary Location
: IN-KA-Bangalore
Job Type
: Standard / Permanent
Job
: OPERATION PROCESSING
Education Level : Bachelor Degree or equivalent (>= 3 years)
Experience Level : At least 3 years
Schedule
: Full-time