Senior Associate

Job Description

Fixed Income Settlements – AMER

About BNP Paribas India Solutions:

Established in 2005, BNP Paribas India Solutions is a wholly owned subsidiary of BNP Paribas SA, European Union’s leading bank 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 10000 employees, to provide support and develop best-in-class solutions.

About Business line/Function :

Global Market Securities Settlements team ensures that Security transactions (Bonds, Equities, Complex Securities, ETF, SLAB, PNS )and positions registered in the books under CIB ITO’s mandate, match the commitment actually taken with counterparties within a secure setup, in accordance with Group and Regulatory Policies and/or contractual agreements.

Perform all daily settlement tasks. This includes, but is not limited to settlement of Fixed Income transactions settling through DTC and Euroclear, mark to markets, contract compare, end of day balancing and reconciliations

Position Purpose

Primary responsibilities of the team includes:

- Ensure timely settlement of DTCC transactions

- Ensure timely settlement of Euroclear transactions Daily monitoring and resolution of Loanet contract compare breaks

- Process Loanet same day trade closeouts

- Monitor / resolve breaks, dks, and nostro rec items

- Settlement / resolution of DTC coupon & redemption items

- Mitigation of operational and reputational risk by escalating in a timely and efficient manner

- Liaising with clients, brokers / counterparties and other internal support functions for smooth settlement of trades

Responsibilities

Key Responsibilities:

Responsible for the FI settlement , on a timely and cost effective basis by:

- Ensuring all trades are instructed, matched & settled on a timely basis

- Monitoring of failing trades

- Reducing fails and/or potential fails by means of pairing off or partialing down deliveries

- Minimizing fails by means of partial deliveries where possible

- Pre-matching trades in a daily basis

- Cash Management related with funding trades

Responsible for solving Nostro and Depot reconciliation breaks on a timely basis:

- By investigating and, where possible, clearing all nostro breaks in reported by Securities Control teams

- By investigating and, where possible, rectifying all depot breaks on a timely basis reported by Securities Control teams

- By investigating and solving accounting breaks raised by Securities Control & Accounting teams

- Escalating items that represent operational risk to the direct Manager

Contribute to the minimisation of settlement costs & operational risk:

- By becoming more risk aware and by following the procedures or Compliance rules that are in place to mitigate operational or reputational risk

- Monitors and take appropriate actions in case of market risks (buyins)

- By seeking to improve STP rates at our custodians so reducing cost, by updating static data as and when necessary

- By reducing the number of manual instructions sent to agents therefore reducing cost, manual intervention and settlement risk according to Compliance rules

- If necessary, using the escalation process when operational risk is detected

Contribute to the overall successful running of the settlement department:

- By maintaining close relationships with traders and sales and escalating problems to them promptly where required

- By maintaining good working relationships with domestic agents and custodians

- By communicating with, and assisting, other operational departments where needed

- Ensuring direct Managers are kept informed of any potential problems & issues where appropriate.

Contribution to the team development:

Formalization of team procedures and operating guides

Participation of training and coaching for new joiner.

Skills and competencies:

- Ability to analyse, organize and report efficiently.

- Flexibility on working methods and changing international environment.

- Rigorous and reactive in order to face pressure and reach excellence anytime

- Diligently follow the set procedures and Compliance policies

- Knowledge of financial markets and products, and easiness/expertise in dealing with Excel.

- English speaker

Experience Required

Minimum of 5 years’ experience

Amer Support

Skills Referential

Behavioural Skills:

Ability to collaborate / Teamwork

Attention to detail / rigor

Communication skills - oral & written

Ability to synthetize / simplify

Transversal Skills:

Analytical Ability

Ability to develop and adapt a process

Ability to understand, explain and support change

Ability to manage a project

Ability to develop and leverage networks

Education Level:

Bachelor Degree or equivalent

Industries:Banking, Financial Services, Investment Banking