Job Description

Repo/Bonds settlements

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, centered on corporate and institutional clients. The Group helps all of its clients (retail, associations, businesses, SMEs, large corporate 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 Securities Settlements team ensures that Security transactions (Bonds, Equities, Complex Securities, ETF, SLAB, Repo..) 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.

Within the Securities Settlement Department, the main processes include pre & post settlement activities, clearing, and event-related accounting for securities deemed in scope.

Job Title:

Manager

Date:

Department:

Global Markets Operations - Securities settlements

Location:

Mumbai

Business Line / Function:

Repo Bonds settlements

Reports to:

(Direct)
NA

Grade:

(if applicable)
Manager
(Functional)

Number of Direct Reports:

NA

Directorship / Registration:

NA

Position Purpose

Primary responsibilities of the team includes:

• Settlement of Repo and Bonds transactions and associated products in a timely and cost effective manner
• Timely resolution of nostro and depot breaks
• 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

The team works closely with other internal teams and support functions and timely action and identification of issues are of prime importance. It is essential for this role to ensure the team deliverables are met and issues are highlighted to the relevant groups and stakeholders as appropriate. Main drivers are client service quality, independent control, operational risk safety and cost efficiency.

Responsibilities

Key responsibilities:

1. Responsible for the settlement of Repo and Bonds transactions & associated products booked in Calypso, 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 offering partials for deliveries
• Pre-matching trades on a daily basis
• Cash Management related with funding trades

2. 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 direct Manager

3. Contribute to the minimization 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 (buy-ins, market fines and penalties etc.)
• 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

4. 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

5. Contribute to process improvements and IT enhancements:

• By contributing to projects related to the efficiency of the processes and systems
• By proposing new developments or improvements to the existing process in order to secure the processes and reduce the operational risk
• By actively participating in UAT testing as and when the need arises

6. Contribute to team development:

• By formalising team procedures and operating guides
• By training and coaching new joiners
• By actively participating in management and department staff meetings

Skills and Experience:

• Strong knowledge of Securities & operational processes of securities
• Knowledge of Cash Management
• Strong knowledge of Microsoft software (Excel, VBA, Word, PPT, Outlook)
• Knowledge of practices of Lean & CI would be a plus

Competencies:

• Multi-cultural
• Analytical
• Risk aware
• Client oriented
• Rigorous attention to detail
• Result oriented
• Good communication skills
• Team spirit
• Must be fluent in English

Experience Required Minimum of 10 years' experience

Skills Referential

Behavioural Skills: (Please select up to 4 skills) -

Ability to deliver / Results driven


Ability to collaborate / Teamwork

Communication skills - oral & written


Critical thinking

Transversal Skills: (Please select up to 5 skills)

Ability to understand, explain and support change


Analytical Ability

Ability to develop others & improve their skills

Ability to develop and adapt a process

Ability to manage / facilitate a meeting, seminar, committee, training...


Education Level: Bachelor Degree or equivalent


Experience Level :
At least 10 years

Other/Specific Qualifications (if required)


Education Level: Bachelor Degree or equivalent Experience Level : At least 10 years