Assistant manager – Security / Equity Settlements

March 7, 2024

Assistant manager – Security / Equity Settlements


  • Standard / Permanent
  • IN-KA-Bangalore
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Job Description –

Security settlements – Assistant manager

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 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:

Assistant Manager




Global Markets Operations – Securities settlements



Business Line / Function:

Electronic Execution – Security settlements

Reports to:




(if applicable)

Assistant Manager


Number of Direct Reports:


Directorship / Registration:


Position Purpose

Primary responsibilities of the team includes:

·       Settlement of Security transactions and associated products in a timely and cost effective manner

·       Timely resolution of nostro and depot breaks while working collectively with the team

·       Working with the team to try & mitigate 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

·       Contribute and Lead Transitions

·       Contribute and Lead  to develop & propose ideas for a better partnership with Business and On-shore

·       To deploy a Capacity Matrix covering the whole scope of processes within the perimeter

·       Propose / Contribute  / Lead some Organizational Transformation Streams


Key Responsibilities:

1. Responsible for the settlement of Security 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
    • Reduce level of errors / incidents – Proactively report errors / incidents & responsible for designing / implementing a Short term / Long term action plan with a systematic Root cause analysis in place. Ensure no errors impacting clients. Nil Incidents on Cash Outs and CCB’s.
    • Responsible for procedures reviews & full coverage / description of the processes under management
    • Responsible to implement an Daily EOD checklist Governance: Daily Follow-up, Monthly comments, reliability of records
    • To ensure full adherence to SOP in place & appropriate actions are taken when deviations observed are showing a pattern
    • To ease Controls of Controls & to provide & follow-up action plan
    • To ensure BCP plan’s and BIA documents are upto date and covers a proper resilance strategy
    • To ensure that audit/inspection findings and recommendations are put in place according to the audit description and closed in due time (0 overdue)
  • 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 passing entries to the Calypso systems to clean up outstanding items on a timely basis
    • 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:

·       To deploy a Capacity Matrix covering the whole scope of processes within the perimeter

·       Propose / Contribute / Lead process reengineering

·       Responsible to implement a strong governance vs IT (Support, Dev), Identify SPOC’s contacts & responsibilities & Project & Measure the efforts mobilized (Study, UAT), foster a ROI logic within the team

·       Propose / Contribute  / Lead some Organizational Transformation Streams

·       Agility: Balance / Optimize resources usage in BAU with mindset of realistic commitment & transparency

    • 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 stake holders 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.
  • Contribute to ensure all required materials such as procedures, SOP, Skill Matrix, trainers identified, are updated.
  • Raise to the management / project teams any dysfunctionality during the course of BAU
  • Actively contribute to UAT testing where necessary and engage in training and coaching the new joiners

Core competencies:

  • Management skill
  • Problem solving skills
  • Good communication skills and strong client focus
  • Multicultural awareness
  • Risk awareness and attention to detail
  • Analytical and result oriented
  • Strong organization skills and rigorous

Experience Required

Minimum of 7 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

Ability to share / pass on knowledge

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 inspire others & generate people’s commitment

Education Level:

Bachelor Degree or equivalent

Experience Level :

At least 7 years

Other/Specific Qualifications (if required)

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