Senior Associate- Arbitrage Listed Derivative Back office

July 4, 2024

Senior Associate- Arbitrage Listed Derivative Back office

Reference12351256

  • Permanent
  • IN-Karnataka-Bangalore
  • 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

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:

Senior Associate

Date:

Department:

BNP Paribas Arbitrage – Global Equity and Commodities Derivatives (GECD)

Location:

Bengaluru

Business Line / Function:

Dec Clearing

Reports to:

(Direct)

Manager

Grade:

(if applicable)

(Functional)

Number of Direct Reports:

Directorship / Registration:

NA

Department overview & Mission

The Listed Derivatives Settlement Operations Department is split into two Teams, one dedicated to the Fixed Income Business Line activity and the other dedicated to the GECD Business Line activity. Each Team is managed by one Team Leader respectively in charge of its Operational scope.

Both Business Lines are active on 30 different Markets through our worldwide Front Office location locations. They represent about 50 000 open positions on all Listed Derivative futures and options traded on all available underlyings.

Everyday an average of 60 000 trades are reconciled and then fed in the production chains by the Team operators. They operate all trade controls and pay to the respective Clearer the daily margin calls and flows calculated by our internal tools.           

Position Purpose

Primary objective

The Operations Team is in permanent contact with numerous internal and external interlocutors such as: the Front Office, the Middle Office, the Clearers, IT Services, Accounting & Finance Teams …

Working closely with those interlocutors the main objectives of the day are:

-Reconcile, investigate, identify, analyze, regularize, secure all trade & positions at trade date plus one day  fed in the settlement production chain.

-Calculate and reconcile at trade date plus one day all daily Margin and P&L flows by Market, Clearer, account and currency.

 – Follow-up the integration of the operations in the STP chain BUBL/UBIX (internal tools)

– Escalate all incidents or blocker issues identified to its Management

– he pending trades and positions raised by our automated reconciliation tools (FIRE and  Intellimatch) 

– Comment and allocate to the respective Team those breaks and discrepancies: Front Office versus Back Office but also Back Office versus Clearer

– Identify, regularize, comment  and follow-up all cash/treasury breaks

– Analyze and comment accounting breaks

– Report to the Management all issues or blocker situations

– Propose when improvements

– Complete ORUS controls operational risk

Responsibilities

MAIN ACTIVITIES

Reconcile daily trades & positions

·       Complete and control « BUBL WEB » mapping table on: portfolios, contract mnemonics, broker codes

·       Reconcile daily trades (Front Office versus Clearer) through the « BUBL/FIRE » chain 

·       Investigate trade breaks and discrepancies identified and launch alerts when needed

·       Reconcile daily positions Front Office versus Back Office but also Clearer versus Back Office through Intellimatch tool

·       Book and record all post-trade specific operations or events like Corporate actions, expiries…

·       Propose corrective action closely with the different partners or stakeholders involved in the chain

Calculate, pay and control daily Margins / P&L flows

·       Announce daily Margin excess/deficit flows in the treasury tools (Matisse/BUBL TRESO) in order to generate Clearer payments

·       Investigate cash balance discrepancies and regularize them in order to avoid Accounting breaks

·       Complete Initial Margin Requirements data and pledge collateral data (cash and securities) in « BUBL TRESO » tool as requested by the Business

·       Launch daily end of day processes through our internal tool (UBIX) to calculate : premiums, fees, P&L on futures, variation margins, Initial Margins Requirements

·       Launch automatic expiries or corporate action in UBIX.

·       Adjust daily market and clearing fees in order to match those of the Market and the Clearer

·       Investigate and regularize Accounting and Treasury breaks identified by our standard KPIs or escalated by other Teams: nostri breaks, common « pendings file » shared with Accounting Team

  • Generate UBIX open positions and accounting CREs 

Apply LEAN principles and promote best practices in the business as usual processes:

  • Follow the projects delegated by the Management
  • Rely on KPI and makes spontaneous proposals for continuous improvement   
  • Actively participate in ” morning meetings ” and other meetings/workshops
  • Escalate blocker situations to the Management  
  • Act as a permanent point of contact within the whole chain 
  • In a context of constant evolution, is initiative driven and concerned by the quality and accuracy of the information delivered to his/her management 
  • Participates in the implementation or the updates of controls and procedures on his perimeter.

Preferred Qualifications

Education :

(ex : High Business School, major in Finance)

Strong academic background with specialization in finance: BA required, advanced degree considered a plus

Experience level :

1 year of financial, banking experience with an emphasis in Operations Management,

Knowledge of Listed Derivatives would be strongly appreciated 

Expected Skills & Behaviors

  • Rigor
  • High adaptability
  • Organizational skills
  • Capacity to be autonomous
  • Ability to analyse
  • Ability to manage stressful situation
  • Sensitive to the risk management
  • Ability to collaborate
  • Communication skills
  • Client focus skills
  • Team spirit
  • Multicultural skills

Foreign languages required for this position

English (Mandatory) :

Fluent

Portuguese (Mandatory) :

Fluent

French (Optional) :

Appreciated

Other (Optional) :

Is a plus

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