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\xe2\x80\x99s 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 BNP Paribas Group:

BNP Paribas is the European Union\xe2\x80\x99s leading bank and key player in international banking. It operates in 65 countries and has nearly 185,000 employees, including more than 145,000 in Europe. The Group has key positions in its three main fields of activity: Commercial, Personal Banking & Services for the Group\xe2\x80\x99s commercial & personal banking and several specialised businesses including BNP Paribas Personal Finance and Arval; Investment & Protection Services for savings, investment, and protection solutions; and Corporate & Institutional Banking, focused on corporate and institutional clients. Based on its strong diversified and integrated model, the Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realize their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, BNP Paribas has four domestic markets: Belgium, France, Italy, and Luxembourg. The Group is rolling out its integrated commercial & personal banking model across several Mediterranean countries, Turkey, and Eastern Europe. As a key player in international banking, the Group has leading platforms and business lines in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific. BNP Paribas has implemented a Corporate Social Responsibility approach in all its activities, enabling it to contribute to the construction of a sustainable future, while ensuring the Group\'s performance and stability

Commitment to Diversity and Inclusion

At BNP Paribas, we passionately embrace diversity and are committed to fostering an inclusive workplace where all employees are valued, respected and can bring their authentic selves to work. We prohibit Discrimination and Harassment of any kind and our policies promote equal employment opportunity for all employees and applicants, irrespective of, but not limited to their gender, gender identity, sex, sexual orientation, ethnicity, race, colour, national origin, age, religion, social status, mental or physical disabilities, veteran status etc. As a global Bank, we truly believe that inclusion and diversity of our teams is key to our success in serving our clients and the communities we operate in.

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\xe2\x80\x99s 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

Job Title:

Manager

Date:

Department:

Global Markets Operations \xe2\x80\x93 Securities settlements

Location:

Bengaluru

Business Line / Function:

Fixed Income 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:

\xc2\xb7 Ensure timely settlement of DTCC transactions

\xc2\xb7 Ensure timely settlement of Euroclear transactions Daily monitoring and resolution of Loanet contract compare breaks

\xc2\xb7 Process Loanet same day trade closeouts

\xc2\xb7 Monitor / resolve breaks, dks, and nostro rec items

\xc2\xb7 Settlement / resolution of DTC coupon & redemption items

\xc2\xb7 Mitigation of operational and reputational risk by escalating in a timely and efficient manner

\xc2\xb7 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 FI settlement , on a timely and cost effective basis by:

\xc2\xb7 Ensuring all trades are instructed, matched & settled on a timely basis

\xc2\xb7 Monitoring of failing trades

\xc2\xb7 Reducing fails and/or potential fails by means of pairing off or offering partials for deliveries

\xc2\xb7 Pre-matching trades on a daily basis

\xc2\xb7 Cash Management related with funding trades

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

\xc2\xb7 By investigating and, where possible, clearing all nostro breaks in reported by Securities Control teams

\xc2\xb7 By investigating and, where possible, rectifying all depot breaks on a timely basis reported by Securities Control Teams

\xc2\xb7 By investigating and solving accounting breaks raised by Securities Control & accounting Teams

\xc2\xb7 Escalating items that represent operational risk to direct Manager

3. Contribute to the minimization of settlement costs & operational risk:

\xc2\xb7 By becoming more risk aware and by following the procedures or Compliance rules that are in place to mitigate operational or reputational risk

\xc2\xb7 Monitors and take appropriate actions in case of market risks (buy-ins, market fines and penalties etc.)

\xc2\xb7 By reducing the number of manual instructions sent to agents therefore reducing cost , manual intervention and settlement risk according to Compliance rules

\xc2\xb7 If necessary, using the escalation process when operational risk is detected

4. Contribute to the overall successful running of the settlement department:

\xc2\xb7 By maintaining close relationships with traders and sales and escalating problems to them promptly where required

\xc2\xb7 By maintaining good working relationships with domestic agents and custodians.

\xc2\xb7 By communicating with, and assisting, other operational departments where needed

\xc2\xb7 Ensuring direct Managers are kept informed of any potential problems & issues where appropriate

5. Contribute to process improvements and IT enhancements:

\xc2\xb7 By contributing to projects related to the efficiency of the processes and systems

\xc2\xb7 By proposing new developments or improvements to the existing process in order to secure the processes and reduce the operational risk

\xc2\xb7 By actively participating in UAT testing as and when the need arises

6. Contribute to team development:

\xc2\xb7 By formalizing team procedures and operating guides

\xc2\xb7 By training and coaching new joiners

\xc2\xb7 By actively participating in management and department staff meeting

Skills and Experience:

\xc2\xb7 General knowledge of Back Office Operations, specifically Fixed Income Securities

\xc2\xb7 Knowledge of the buy-in process

\xc2\xb7 Knowledge of repo/reverse trade processing, including calculation of interest

\xc2\xb7 Knowledge of Cash Management

\xc2\xb7 Strong knowledge of Microsoft software (Excel, Word, PPT, Outlook)

\xc2\xb7 Knowledge of practices of Lean & CI would be a plus

Competencies:

\xc2\xb7 Multi-cultural

\xc2\xb7 Analytical

\xc2\xb7 Risk aware

\xc2\xb7 Client oriented

\xc2\xb7 Rigorous attention to detail

\xc2\xb7 Result oriented

\xc2\xb7 Good communication skills

\xc2\xb7 Team spirit

\xc2\xb7 Must be fluent in English.

Experience Required

Minimum of 10 years\xe2\x80\x99 experience

Amer Support

Qualifications

Skills Referential

Behavioural Skills: (Please select up to 4 skills) \xe2\x80\x93

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\xe2\x80\xa6

Education Level:

Bachelor Degree or equivalent

Experience Level :

At least 10 years

Other/Specific Qualifications (if required)

BNP Paribas