Senior Associate - Cash PB Client service

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.

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 also known as COCE (client operating center of excellence) is further divided into 4 departments i.e. Trade Processing & Support, Product Control, Client Management & Change Management. COCE Trade Processing & Support team ensures that Security transactions (Bonds, Equities, Complex Securities, ETF, SLAB, Repo..) and positions registered in the books, match the commitment actually taken with counterparties within a secure setup, in accordance with Group and Regulatory Policies and/or contractual agreements.

BNP Paribas Securities is a prime broker that provides a wide range of services to hedge funds including secured financing, securities settlement, custody, capital introduction, securities lending and custom information technology. Cash PB Client Services team act as SPOC for the clients and bank's internal teams to resolve issues pertaining to the transactions (Bonds, Equities, Complex Securities, ETF, SLAB, Repo..) and positions registered in the books under CIB ITO's mandate, within a secure setup, in accordance with Group and Regulatory Policies and/or contractual agreements

Job Title:

Senior Associate- Cash PB Client service

Date:

2024

Department:

COCE Trade Processing & Support

Location:

Mumbai

Business Line / Function:

COCE Trade Processing & Support Cash PB Client Services

Reports to:

(Direct)

Lead

Grade:

(if applicable)

NA

(Functional)

Number of Direct Reports:

NA

Directorship / Registration:

NA

POSITION PURPOSE

Primary responsibilities of the team includes:

• Liaising with clients and internal teams for issues related to the transactions and associated products in a timely and cost effective manner
• Mitigation of operational and reputational risk by escalating in a timely and efficient manner
• Please note that this role requires night shift coverage starting from 19:30 IST onwards and will change based on business requirement.
• Ensure all client cash PB and Swap trades and booked.
• Ensure all client PB transfers are booked.
• Ensure all trades and transfers are matched and/or settled.
• Ensure all client cash flows are settled, and Swap resets are agreed.
• Act as dedicated point of contacts for Prime Brokerage clients
• Partner with the front office to represent the Prime Brokerage franchise.
• Strong qualification level in equity derivative markets. Financial market knowledge of derivatives products including TRS, ETFs, Equity Swaps, etc.

Responsibilities

• Trade Comparison

o Clean up on all DTC unaffirmed Prime Brokerage trades, by liaising directly with Prime Brokerage Clients and executing broker's Middle Office and Settlements teams.

o Clean up all unmatched international (i.e., non-US trades), by liaising directly with Prime Brokerage Clients and executing broker's Middle Office and Settlements teams.

• Fail Monitoring

o Track and resolve all open fails, by liaising with Prime Brokerage clients, internal settlements teams, executing broker's Middle Office and Settlements teams, corporate actions and stock loan trading desk and operations.

• Trade Amendments and Static data updates

o Make appropriate amendments and corrections to US and non-US trades to amend misbookings.

o Request client, executing broker specific updates to static and referential data to ensure BNP Prime Brokerage and Arb RM are instructing with accurate settlement information vs the specific legal entity of the execution counterparty.

• Client Service / Customer Support

o Act as an operational point of contact for both external Prime Brokerage clients and internal departments to resolve open items related to unfirmed / unmatched trades, client reports, fails, static data, and any other operational issues.

• Synthetic Prime Brokerage

o Provided day to client service for client swap trades. Agree cash flows, calculate resets, monitor client trade files, ensure swaps and hedges match end of day, and follow up on client reporting breaks due to price differences, dividends, corporate actions and referential data issues.

• Work with Front Office, P&L, Back Office, third party vendors, and Application Support to resolve operational and booking issues.
• Monitoring of operational risk by providing proper Front Office Support and ensuring the risk of fraud is set to a minimum.
• Ensure accurate trading positions in FO system, the daily goal is to correct all discrepancies originated by system bugs, input mistakes, information loss.
• Manage real-time trade booking exceptions internally between the trading desk and sales force.
• Assist with project initiatives designed to improve and streamline existing processes.
• Mitigate risk by reconciling discrepancies between the trading desk's positions and the firm's books and records.
• Participate / assist in event processing and have a full understanding of the life cycle of a trade.
• Collaborate with technology teams on the implementation of process flow improvements and efficiencies.
• Contribute to quick resolution of trade issues by liaising with various groups including Front Office, Back Office, IT Team, P&L Controllers and Client Services

TECHNICAL & BEHAVIORAL COMPETENCIES

• Ability to analyse, organize and report efficiently.
• Flexibility on working methods and changing international environment.
• Rigorous and reactive in order to face pressure and reach excellence anytime
• Diligently follow the set procedures and Compliance policies
• Knowledge of financial markets and products, and easiness/expertise in dealing with Excel.

SPECIFIC QUALIFICATIONS (IF REQUIRED)

NA

Skills Referential

Behavioural Skills:

Ability to collaborate / Teamwork

Ability to deliver / Results driven

Critical thinking

Ability to share / pass on knowledge

Transversal Skills:

Analytical Ability

Ability to understand, explain and support change

Ability to develop others & improve their skills

Ability to develop and adapt a process

Ability to develop and leverage networks

Education Level:

Bachelor Degree or equivalent

Experience Level

At least 5 years

Other/Specific Qualifications (if required)

• At least 5 years of relevant financial industry experience.
• Previous experience (2-5 years) in a Cash or Synthetic Prime Brokerage Middle Office environment or prior experience in working with Trading/ Sales in a financial institution.
• Proficient in Microsoft Office, especially Excel
• Knowledge of various financial markets.
• Strong sense of risk and critical thinking.
• Maintains high quality of customer service when communicating with clients.
• Display good relationship qualities, team spirit, and ability to work cross-functionally.
• Proactive and displays willingness to take initiative.
• Ability to effectively listen and communicate.
• Maintains acceptable response to stress.
• Rigorous and well organized