Job Title: Associate - Settlement - US Shift

Department: Slab settlements & Collateral Management 

About Business line/Function:

Global Market Securities Settlements team ensures that Security transactions (Bonds, Equities, Complex Securities, ETF, SLAB, Repo.. and positions registered in the books under CIB ITO’s mandate, match the commitment actually taken with counterparties within a secure setup, in accordance with Group and Regulatory Policies and/or contractual agreements. 

Within the Securities Settlement Department, the main processes include pre & post settlement activities, clearing, and event-related accounting for securities deemed in scope. For SLAB, operations team manages the exposure on the bilateral trades and performs collateral trade booking in the system (where BNP receives collateral). Ops also performs recall and return bookings for the request sent by counterparty. For same day short for settlement or buy-in issue, operations book the recalls from triparty or inform the desk to make necessary borrows. Additionally, in case of account short with triparty, to have smooth release of recalls, ops requests desk to pledge-in the necessary amount of collateral, if required

Position Purpose: 

Manage in a daily basis collateralized agreements within Collateral Management Operations.

· The Collateral Management Group processes the Net Present Value of the portfolio of trades between BNPP SA, BNPP Arbitrage and its counterparties on a daily (or as specified) basis and ensure that this exposure is sufficiently collateralized. Currently the group handles approximately $140 Billion of collateral globally on behalf of the Bank and its counterparties as regulators to require Banks to mitigate counterparty credit risk. The group interacts closely with Traders, Marketers, Legal, Credit and Operations.

· Changes in the portfolio PV (due to market price fluctuations, or new / matured trades) will generate changes in the required collateral balance. The collateral teams will call for or post additional collateral funds depending on the direction of movement of the PV of the trade portfolio relative to collateral exchanged. This daily margin call process ensures that at all times, the Bank and its subsidiaries remain as protected as possible from excessive credit risk exposure, and hence can minimize the amount of regulatory capital set aside against credit risk.

Responsibilities

Direct Responsibilities

· Responsible for the settlement of Security transactions & associated products booked in BOLIVAR, on a timely and cost effective basis by:    

I. Managing the exposure on bilateral trades and booking the relevant collateral trades

II. Performing recall and return bookings for request sent by counterparty

III. Recalling  positions from triparty or inform desk to borrow to cover same day short or buy-in risk

IV. Requesting desk to pledge-in required amount of collateral to cover triparty shorts

· Responsible for solving Nostro and Depot reconciliation breaks on a timely basis: 

I. By investigating and, where possible, clearing all nostro breaks reported by Securities Control teams 

II. By passing entries to the Calypso systems to clean up outstanding items on a timely basis 

III. By investigating and, where possible, rectifying all depot breaks on a timely basis reported by Securities Control teams 

IV. By investigating and solving accounting breaks raised by Securities Control & Accounting teams 

V. Escalating items that represent operational risk to the direct Manager 

Contributing Responsibilities

· Contribute to the overall successful running of the settlement department:

· By maintaining close relationships with traders and sales and escalating problems to them promptly where required

· By maintaining good working relationships with domestic agents and custodians 

· By communicating with and assisting, other operational departments where needed

· Ensuring direct Managers are kept informed of any potential problems & issues where appropriate and to the Client relationship management on the whole Security Post-Trade Processing area in coordination with CIB CLM OCRM e.g. meetings, investigations, surveys.  

· Contribute to ensure all required materials such as procedures, SOP, Skill Matrix, trainers identified, are updated.

· Raise to the management / project teams any dysfunctionality during the course of BAU

· Actively contribute to UAT testing where necessary and engage in training and coaching the new joiner

· Contribute to the minimisation of settlement costs & operational risk: 

· By becoming more risk aware and by following the procedures or Compliance rules that are in place to mitigate operational or reputational risk 

· Monitors and take appropriate actions in case of market risks (buy-ins) 

· By seeking to improve STP rates at our custodians so reducing cost, by updating static data as and when necessary 

· By reducing the number of manual instructions sent to agents therefore reducing cost, manual intervention and settlement risk according to Compliance rules 

· If necessary, using the escalation process when operational risk is detected 

Technical & Behavioral Competencies

· Through understanding of Trade lifecycle 

· Risk awareness and attention to detail

· Strong organization skills and rigorous

Specific Qualifications:

· Minimum of 2 years’ experience

· Prior experience in similar domain -Slab settlements, Collateral, Trade life cycle & Reconciliation

Skills Referential (Required knowledge, skills and abilities)

Technical Skills:

· Slab settlements, Collateral, Trade life cycle 

· Reconciliations 

· Reporting through PowerBI, Tableau. 

· Advanced Excel

Behavioral Skills: 

· Good communication skills and strong client focus

·  Ability to collaborate / Teamwork 

· Analytical and result oriented

· Ability to perform multiple tasks and meet established deadlines, in a fast pace work environment 

Education Level: Bachelor Degree or equivalent

Location: Bangalore

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.