Senior Associate- Topday Clearing

May 2, 2024

Senior Associate- Topday Clearing

ReferenceOPE002912

  • Standard / Permanent
  • IN-KA-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:

2024

Department:

DEC- Clearing

Location:

Bengaluru

Business Line / Function:

Derivatives Execution & Clearing Operations

Top Day Clearing

Reports to:

(Direct)

Team leader/Assistant Manager

Grade:

(if applicable)

NA

(Functional)

Number of Direct Reports:

NA

Directorship / Registration:

NA

Position Purpose

The candidate would be Part of Derivative Execution and clearing team, working along with the DEC Market Fees Reconciliation and Brokerage team.The role would concentrate To clear and allocate exchange traded derivatives trade on behalf of the client. Ensure all top day trades are cleared and reconciled against cleaning house by the end of day.

The role requires a high level of attention to detail, to ensure BNPP SA’s external end client fees are validated and any required corrections or amendments are processed accurately and according to procedure. The candidate would be working with large volumes of trade data so should be comfortable using Excel to summarize, as well as to drill down and independently investigate any discrepancies that may arise.

Work effectively with team members to accomplish common goals. Generate creative solutions to problems, Ability to plan work ahead and to prioritize workload in an organized manner.

Undertake a variety of financial and non-financial tasks in order to help guarantee the company’s revenues; handle the processing of incoming payments along with the issuing of necessary paperwork.

Responsibilities

  • Direct communication with CTFC regulators, compliance teams, auditors, FCM community, and global business partners
  • Client on boarding and pre trade support
  • Post trade execution clearing and allocation processing
  • Key risk indicator and statistical capture, recording, and analysis of operational process and staff performance
  • Trade reconciliations utilizing middleware and industry software
  • Internal coordination with various departments during client on boarding
  • Client and business inquiry research, investigation, and issue resolution
  • Work with global risk teams on limit queries and trade support
  • Lead and assist large scale projects to implement processes that comply with necessary changes, growth, and or new regulations and rules
  • Account set-up review and implementation utilizing various operational systems
  • Sales and marketing assistance in developing and presenting business offering

·         Demonstrates a highly competent working knowledge of FCM operations involvement in the life cycle of execution and clearing activities

·         Informational and instructional presentations

  • New product and market on-boarding including identification of requirements
  • Regulatory exam and audit coordination

·         Ensure ample familiarity with our escalation procedures and raises issues to the appropriate contacts in a timely manner to ensure all are aware of potential risk while taking ownership of the issue and sees through to resolution  

·         Control monitoring

·         Reviews processes and provides feedback for enhancement with additional responsibility for managing the enhancement for operations and seeing through to completion

Minimum Required Qualifications

  • Bachelor degree 
  • Supervisor – experience with exchange listed products, OTC Cleared derivatives, or capital markets trading, operations, execution, clearing, or trade process
  • Staff – 5 or plus years of experience with exchange listed products, OTC Cleared derivatives, or capital markets trading, operations, execution, clearing, or trade process
  • Experience managing and operational processes
  • Experience interacting with exam teams and regulators
  • Experience interacting with clients and various lines of business
  • Working knowledge of FCM Clearing setups – CCP mappings, exchange reporting suite
  • Understanding of exchange listed derivatives trading and clearing workflows and related controls to alleviate regulatory risk
  • US exchange product knowledge of trade life cycle
  • Microsoft Excel (Vlookup, Pivot tables, formals, etc.), Outlook and Power Point

Preferred Qualifications:

  • Experience in specifics around on-boarding new clients 
  • 5+ years of experience in clearing listed derivative products on multiple CCPs
  • 5+ years of experience in FCM Clearing operations 
  • Experience giving live demonstrations presenting to small and large audiences   
  • Experience interacting with clients and various lines of business seeking solutions for enhancing client experience
  • Experience in global markets operational systems
  • Experience working with global lines of business to build and maintain partnerships   
  • Microsoft suite knowledge
  • FINRA Series 99, 3, or 7

Technical & Behavioral Competencies

  • Strong Communication skills required for an effective liaison with counterparties and internal stakeholders to the reconciliation process. (Middle offices, marketers, traders, credit, compliance and legal)
  • Knowledge of Exchange Traded derivative products /ETD Clearing.
  • Experience of the commodity exchanges’ and CCPs’ platforms – preferable though not required
  • Flexibility to accommodate business requirements and working hours.
  • Ability to use Excel at an intermediate level – essential
  • Excellent numerical and analytical skills – essential
  • Ability to analyse large volumes of data
  • High attention to detail and quality focused
  • Be comfortable with escalation and managing issues as they arise
  • Forward thinking and proactive with the ability to question process
  • Ability to work under pressure
  • Team Player

Specific Qualifications (if required)

  • Bachelor’s degree from a college or university
  • Strong Communication skills and client focus oriented
  • Fundamental understanding of clearing /Futures & Options markets.
  • Knowledge of all Microsoft Office applications (Excel, Word, PowerPoint, Access)

Skills Referential

Behavioural Skills: (Please select up to 4 skills)

Active listening

Adaptability

Communication skills – oral & written

Ability to deliver / Results driven

Transversal Skills: (Please select up to 5 skills)

Analytical Ability

Ability to understand, explain and support change

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Education Level:

Bachelor Degree or equivalent

Experience Level

At least 5 years

Other/Specific Qualifications (if required)

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