Assistant Vice President – Corporate Actions

April 8, 2024

Assistant Vice President – Corporate Actions

ReferenceMFS000612

  • Standard / Permanent
  • IN-TN-Chennai
  • OPERATION PROCESSING
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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

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:

MFS department is comprised of Agency lending, Principal Lending and Triparty collateral management teams and Regulatory reporting:

  • Agency lending- As agent ,we lend clients assets both equity and fixed income on their behalf, to pre-approved borrowers.
  • Operational process managed are settlements of Loan and returns, Mark to Mark valuation and collateral management.

Job Title:

AVP – Head of Income, Corporate Actions,

Date:

2nd April 2024

Department:

MFS – Securities Lending

Location:

GSO, Chennai

Business Line / Function:

Market and Financing Services

Reports to:

(Direct)

Head of Principal Lending Ops &

Head of Agency Lending Ops

Grade:

(if applicable)

(Functional)

Number of Direct Reports:

Directorship / Registration:

Position Purpose

Provide a brief description of the overall purpose of the position, why this position exists and how it will contribute in achieving the team’s goal.

AVP will be responsible for managing team and performing daily tasks related to Global Income, Corporate action carried out in the MFS department. He/ She will be working closely with off-shore management, Front office, Account managers, Global Custody teams and external Brokers as part of their daily tasks and will report to the local management in Chennai. The staff will be working closely with all internal teams, London, Paris and local management as part of their daily BAU. Good functional understanding of the securities lending business along with basic knowledge of Settlement, Corporate Action and function related to securities lending business is required.

Responsibilities

 Direct Responsibilities 

  • Track, generate and issue all the cash dividend claims to the counterparties on the pay date without fail.
  • Follow corporate actions announcements on loan positions and Investigate on breaks with the global custody.
  • Rigorously follow the payments from the brokers by effective communication and proactive follow-ups
  • Analyse, investigate on all cash breaks with the global custodians to bring down all the cash breaks and thorough investigation on aging breaks and finds a solution to clear them with appropriate action.
  • Monitor the corporate action events and coordinate with the lender and borrowers on the elections and ensure the event has been processes correctly without any delay.
  • Prioritize the work and conduct investigation with due diligence on all the discrepancies/breaks and respond to all queries with in the timeframe agreed as per SLA and procedures.
  • Perform control tasks required for the process, double check and confirm the completion of tasks within the deadline in line with daily checklists             
  • Procedures and checklists must be updated/ prepared with immediate effect to be in-line with delivery standards and SLA
  • Should have strong understanding on Reconciliation process and perform all the reconciliation and reporting tasks correctly.
  • Identifying exceptions and out of balance situations, and liaised with internal departments as required, to reach resolution in a timely manner.
  • Prioritize the work and conduct investigation with due diligence on all the discrepancies/breaks and respond to all queries with in the timeframe agreed as per SLA and procedures.
  • Ensure all the trades reported to regulator before the deadline.
  • Send daily/Weekly/Monthly/Quarterly KPI reports without fail
  • Follow appropriate escalation procedures
  • Strictly adhere to established departmental processing procedures and controls
  • Anticipate issues that may adversely affect Operations and propose possible solutions.
  • Constantly improve business knowledge through training and multi-skilling and ensure yourself is cross-trained across various functions in the team.
  • Recruit competent, trainable and culturally fit people in the department and ensure the staffs appraised for their performance without bias. 
  • Ensure objectives are set for the staffs, monitors & review performance conduct interim and annual performance reviews and fair CRP exercise.
  • Help the staff to develop their skills, improve their areas of improvements and other developmental goals to enhance their career growth.
  • Identify the pain points and implement the fixes and adequate control measures to maximize the standards to meet Client’s desired level.

Technical & Behavioral Competencies

  • Ability to work independently, as well as in a team environment, prioritizes multiple tasks, and meets strict deadlines.
  • Ability to work in a team environment in coordination with the colleagues and the mangers.
  • Proficient in Microsoft Office Applications and strong MS Excel skills required.
  • Work Experience in Intellimatch will be preferable
  • Ability to generate creative solutions to problems, organize, prioritize tasks and work in a deadline oriented environment.
  • Ability to work under pressure and communicate well, being accurate and concise, ability to deliver to tight and demanding deadlines
  • Demonstrate integrity with data, colleagues and Stakeholders
  • Must be able to demonstrate a strong Risk and Control mind-set

Specific Qualifications (if required)

Good Accounting knowledge

  

                                      

Skills Referential                             

Behavioural Skills: (Please select up to 4 skills)

Ability to collaborate / Teamwork

Creativity & Innovation / Problem solving

Communication skills – oral & written

Client focused

Transversal Skills: (Please select up to 5 skills)

Ability to develop others & improve their skills

Ability to develop and leverage networks

Ability to develop and adapt a process

Choose an item.

Choose an item.

Education Level:

Master Degree or equivalent

Experience Level

At least 12 years

Other/Specific Qualifications (if required)

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