Job Title: Assistant Manager – Collateral Management

Department: Collateral Management. Market Operations

About Business line/Function: 

The Collateral Management Group compares the Net Present Value of the portfolio of trades between BNP Paribas and its counterparties on a daily (or as specified) basis and ensure that this exposure is sufficiently collateralized.

Portfolio Reconciliation is a risk mitigation technique whereby counterparty’s exchange trade details and a reconciliation of key economic terms, including valuation is performed.  

The evolving Regulatory landscape requires further reconciliations as part of dispute prevention associated with Bi-lateral Initial Margin exchange based on risk sensitivity calculations.

Position Purpose: 

The process requires comparison of exposures with the value of the assets pledged, in accordance with the parameters specified in the legal agreement. Changes in exposure will generate changes in collateral balance. The collateral teams will call for or post additional collateral. This daily margin call process ensures that the Bank is covered in terms of excessive credit risk exposure.

BNPP performs portfolio reconciliation as a risk mitigation technique for dispute resolution and to be in line with regulatory requirements of EMIR.

Process requires working with clients, Middle Office, P&L and risk team along with key stakeholders across the bank to report / resolve issues.

The controls function within Portfolio Reconciliation is responsible for ensuring key aspects of the reconciliation process are performed. Controls is also responsible for working with key stakeholders across the bank to report / resolve issues where necessary to minimize counterparty risk and ensuring EMIR compliance.

Responsibilities

Direct Responsibilities

•          Performing daily margin call process front to back for specified clients.

•          Margin Call issuance and chasing clients for unanswered margin calls.

•          Goof knowledge of processing calls on Acadia and onboarding new clients on Acadia 

•          Investigating disputed calls and liaising with client, MO and legal on various aspects of disputed margin calls.

•          Chasing clients on failed/missed payments.

•          Investigating with settlements team on all bonds that have not settled in the market. 

•          Working on Substitution requests sent by clients/traders.

•          Booking interest for all monthly clients.

•          Investigating Interest discrepancies.

•          Reconciling portfolios in line with EMIR guidelines on trioptima. Investigate to resolve the trioptima differences by liaising with counterparty as well as internal teams like MO, DOC, Legal, Trade Support, FO, Risk, Sale

•          Ownership of Collateral Dispute Committee Documentation which requires working with Risk / Front Office to review CSA level / trade level disputes and providing a clear status to allow next steps for resolution to be determined.

•          Initial margin call booking and dispute resolution 

Contributing Responsibilities

•          Working on developing and implementing new controls / processes based on Business/ Risk / Industry evolution to better support the risk management needs of BNPP.

•          Performing of Risk Factor Reconciliations associated with Regulatory requirements to exchange Initial Margin or Variation Margin

•          Point of escalation for client queries, trade breaks and fails resolution.

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 derivative products (Credit, Interest Rate, FX , Equities)

•          Strong knowledge of Trade Life Cycle.

•          Experience in Portfolio Reconciliation Operations, Collateral Management Operations or another Middle Office Operation functions within Investment Banking is favorable.

•          Understanding of EMIR Requirements with regards to Margin Cal, Portfolio Reconciliation and UMR regulation with regards to Initial Margin

•          Experience of Tri-Optima and Acadia platform favorable.

•          Basic Excel skills required.

Specific Qualifications:

-

Skills Referential (Required knowledge, skills and abilities)

Technical Skills:

• Knowledge of Acadia and Trioptima
• Advanced Excel Skills

Behavioral Skills: 

• Ability to collaborate / Teamwork
• Attention to detail / rigor
• Ability to share / pass on knowledge
• Communication skills - oral & written

Education Level: Bachelor’s degree or equivalent

Experience Level: Atleast 6 yrs

Location: Mumbai

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 specialized 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.

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 24x7 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.

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. 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.