Assistant Manager PNL Production and Explain – APAC ALMT
- Standard / Permanent
- OPERATION PROCESSING
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 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 10000 employees, to provide support and develop best-in-class solutions.
About BNP Paribas Group:
BNP Paribas is the European Union’s 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’s 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 Operations also known as COCE (client operating center of excellence) is further divided into 4 departments i.e. Trade Processing & Support, PnL, Client Management & Change Management. Product Control in the wider market outside of BNP is Middle Office. Product Control consists of streams like Documentation & Reconciliation, Trade Support, P&L & Trading Portfolio & controls. Product Control teams are in regular contact with Market Front Office, Regional Back Office’s and Regional Finance & other support teams for their BAU.
COCE Product Control
Business Line / Function:
COCE Product Control
Head of Team
Number of Direct Reports:
Directorship / Registration:
· Provide a daily Economic, Step Reval and Risk Based PNL to each desk and to the Bank’s management.
· Ensure that the PNL is calculated from the reference positions and that these positions are real and checked.
· Escalate any unusual P&L to the desk and management that may indicate a wrong position or transaction in the FO system.
· Run all the required controls on key elements of the PNL
· Document all exceptional PNL moves and adjustments for Management.
· Produce accurate daily analysis of P&Ls to Trading desks and bank’s management. This includes the 3 different P&L analysis required by the internal Valuation Policy and Regulators:
· Economic P&L (cash + PV) for Management and Accounting P&L reconciliation (performed by Finance)
· Step Reval P&L for VaR back-testing feeds and contribution to Regulatory ratios (used in the Dodd Franck and French Banking Law ratio calculations)
· Risk based P&L to validate the FO risk and models.
· Responsible for daily and monthly controls on key elements (positions, market data, adjustments, reserves) and liaise with internal departments in case of issues.
· Perform FO/MO reconciliations between Trading P&L estimations at T and Official MO P&L at T+ 1 and both explain and investigate P&L breaks to FO if any.
· Adjust the P&L if necessary to secure correct P&L reporting and document each
· Monitor daily Funding and fees.
· Interact daily with traders to explain the results of their P&Ls and seek their daily sign-off.
· Report, Comment and Validate the P&Ls into the Official Reporting tool
· Monitor and reconcile monthly R-IM and V&RC reserves during EOM process.
· Active follow up on updating documentation.
· Organize a monthly meeting with trading to go through all P&L issues during the last month.
· Escalate issues to management on the fly and via Orus.
· Confirm PV to dependent team/business.
· Participate to global projects related to MO or P&L processes improvements.
· Participate to local projects related to systems migrations.
· Participate to the improvement of the productivity within the team by proposing initiatives
Technical & Behavioral Competencies
· Strong understanding of Bonds, Interest rate swaps, Loan & Deposits and FX products including its models and valuations
· Competency with MS Suite, especially Excel
· Communication Skills
· Decision Making
· Adaptability & Change Management:
· Ability to develop and leverage networks
· Ability to develop and adapt a process
· Result oriented approach
· Collaborate with remote teams
· Attention to detail: Ability to notice any abnormal processes as well as any unusual dividends or prices for instance when monitoring and reconciling the various market data.
· Adaptability & Change Management: Ability to easily adapt to new situations (new booking systems, new products, new activities to manage…) as this is a constant changing environment
· Strong Client Focus: Capacity to work with various clients, especially FO. Need to be sensitive about the rationale of their requests and be proactive when replying to them. Work as partnership while consistently keeping an independent mindset.
· Escalation & Reporting process: Internal rules of reporting and escalation to Ops and FO need to be known & applied. The team member also needs to report any sensitive information/issues and escalate immediately to their management to allow proper time resolution
Specific Qualifications (if required)
· Bachelor/Masters Degree and or CA/CFA/FRM or equivalent
· At least 7+ years of experience in Product Control – P&L domain
Ability to collaborate / Teamwork
Creativity & Innovation / Problem solving
Ability to set up relevant performance indicators
Ability to develop others & improve their skills
Ability to develop and adapt a process
Ability to understand, explain and support change
Master Degree or equivalent
At least 7 years
Other/Specific Qualifications (if required)