Assistant Manager – Collateral Derivatives

October 3, 2023

Assistant Manager – Collateral Derivatives

ReferenceOPE002741

  • Standard / Permanent
  • IN-MH-Mumbai
  • OPERATION PROCESSING
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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 24×7 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:

Senior Associate – DEC-Clearing 

Date:

2022

Department:

DEC- Clearing

Location:

Mumbai

Business Line / Function:

Derivatives Execution & Clearing Operations

Reports to:

(Direct)

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
  • 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

  • Ensure appropriate extraction of different CCP rates by collating from multiple golden sources
  • Upload all the interest rates in periodic intervals into UBIX post validation
  • Ensure specifications for each interest rates are adhered by referring the procedure docs
  • Monitor and communicate the upload status to wider audience after each upload.
  • Management of non cash Collateral for frankfurt Client.
  • Perform reconciliation between fee schedule and EAG setups
  • Ensure that all clients related issues, queries and request are addressed in an efficient, accurate and timely manner.
  • Participate in projects to drive the business forward to deliver internal or market system releases (Market releases, MO/BO tools enhancements).

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 5 years

Other/Specific Qualifications (if required)

NA

       

 

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