Manager – Trade Support (Product Control)

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 (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:

IRFX Middle Office Trade Support -AM/M

Date:

March 2024

Department:

COCE Product Control

Location:

Mumbai/Bangalore

Business Line / Function:

Global Markets

Reports to:

(Direct)

Vice President

Grade:

(if applicable)

(Functional)

Number of Direct Reports:

Directorship / Registration:

NA

Position Purpose

·       Within Product Control, Trade Support’s function over flow and exotic products for Global Markets is the monitoring of transactions, the Front-to-Back workflow from FO to Post Trade systems and the validation of trade representation.

·       Product Control acts as a second level control function for the benefit of Heads of GBLs and ALMT to monitor that trading activity is conducted within a specified framework.

The role of the IRD Exotic Trade Validation – is accountable for the delivery of the IRD Exotic Derivatives Trade Support Activities within the OTC & LD Trade Validation team which processes any OTC & LD Transaction for which terms & conditions are negotiated, with the mandate to ensure that it is correctly represented in the booking system, consistent with the sale and allocated if necessary. They will also ensure that the transaction is correctly feeding FO to BO booking systems

Scope

The IRD Exotic Trade Support team supports the activity of traders across Global Macro.

Responsibilities

 

Direct Responsibilities

1. TRADE SUPPORT

• Management of flow of new trades and amendments from Front Office systems to Back Office system
• Manual booking (MUREX) of simple to intermediate complexity trades with minimal errors initially, developing to advanced complexity trades
• Ensure that Rates Derivatives Exotics trades booking are in line with external source (term sheets from Front office) and rectify discrepancies on the same day 
• Monitor and process option exercises and special events
• Post amendments, market events and cancellations
• Resolve queries from BO and other stakeholders
• Assist Front Office in ad-hoc rebooking requests and update in Middle Office systems.

2.  CONTROL

• Comply with internal and external regulatory and compliance requirements
• Ensure all controls are in place and reconciliations front-to-back are investigated and reconciled:

                                  i.         Emails from Back offices, Middle offices and IT are investigated

                                 ii.         Emails from Credit Risk control are investigated

                                iii.         Abnormal Trading are investigated and accounted

                               iv.         Ensuring trades are booked timely on trade date

                                v.         Account for missing booking and escalate when necessary

                               vi.         Checking of daily reports

Contributing Responsibilities

 

• Providing solutions to new business initiatives
• Reviewing workflow and propose enhancements to improve processes
• Review controls are updated and reviewed regularly
• Providing training and guidance to junior members

 

Technical & Behavioral Competencies

·       Deep knowledge in Interest Rates Derivatives products (IRS, CCS, Swaption, Range, Callable) and FX Options

·       Familiar with Middle Office Support functions

·       Basic knowledge on VBA – Hands on experience to develop and modify Macro spreadsheet

·       Murex knowledge preferred

·       Strong focus on accuracy and attention to detail

·       Effective time management and ability to prioritize workload and escalate issues to management

·       Possess great team spirit but yet can work independently

·       Confident and possess good communication and interpersonal skills

·       Highly driven, resourceful and result oriented

Specific Qualifications (if required)

• Post Graduate Degree or equivalent
• Ideally with relevant Trade Support experience.
• Willing to work on public holiday on rotation basis

Is the role SEC SBSD Associated Person (employment questionnaire and background checks required; their outcomes need to be validated by an authorized representative of the bank)?   NO

Skills Referential

Behavioural Skills: (Please select up to 4 skills)

Ability to deliver / Results driven

Attention to detail / rigor

Communication skills – oral & written

Client focused

Transversal Skills: (Please select up to 5 skills)

Ability to manage a project

Ability to understand, explain and support change

Ability to develop others & improve their skills

Ability to manage / facilitate a meeting, seminar, committee, training…

Analytical Ability

Education Level:

Bachelor Degree or equivalent

Experience Level

At least 10 years

Other/Specific Qualifications (if required)