Job Description

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Security settlements Associate level 1


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 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.


Job Title:


Associate Level 1


Date:


Department:


Global Markets Operations - Securities settlements


Location:


Bengaluru


Business Line / Function:


Electronic equity - Security settlements


Reports to:



(Direct)


NA


Grade:


(if applicable)


Associate Level 1


(Functional)


Number of Direct Reports:


NA


Directorship / Registration:


NA


POSITION PURPOSE
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Primary responsibilities of the team includes:


• Settlement of Security transactions and associated products in a timely and cost effective manner


• Timely investigation of nostro and depot breaks


• Collectively working towards mitigation of operational and reputational risk by escalating in a timely and efficient manner


• Liaising with clients, brokers / counterparties and other internal support functions for smooth settlement of trades


Responsibilities


Key Responsibilities:


Responsible for the settlement of Security transactions & associated products booked in Calypso, on a timely and cost effective basis by:
Ensuring all trades are instructed, matched & settled on a timely basis
Sufficient additional priority given to failing trades / Aged trades
Working to reduce fails and/or potential fails by means of pairing off or partialing down deliveries
Minimizing fails by means of partial deliveries where possible
Pre-matching trades in a daily basis
Ensure sufficient intimation is sent to Cash Management team to manage funding for tradesResponsible for solving Nostro and Depot reconciliation breaks on a timely basis:
By investigating and, where possible, clearing all nostro breaks in reported by Securities Control teams
By passing entries to the Calypso systems to clean up outstanding items on a timely basis
By investigating and, where possible, rectifying all depot breaks on a timely basis reported by Securities Control teams
By investigating and solving accounting breaks raised by Securities Control & Accounting teams
Escalating items that represent operational risk to the direct Manager
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
Take swift actions in case of potential market risks (buyins, corporate actions, etc)
Using the available escalation matrix when operational risk is detected
Contribute to the overall successful running of the settlement department:
By maintaining close relationships with all stake holders & escalating problems to relevant teams promptly where & when 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.

Skills and competencies:


• Ability to analyse, organize and report efficiently


• Adaptable to different working methods and dynamic international environment


• Rigorous and pro-active in order to reach excellence anytime


• Diligently follow the set procedures and Compliance policies


• Knowledge of financial markets and products, and easiness/expertise in dealing with Excel.


• Language skills required: Business English