Job Description

REPO/BONDS SETTLEMENTS
--------------------------



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:
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Manager
DATE:
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2024
DEPARTMENT:
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Global Markets Operations - Securities settlements


LOCATION:
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Bengaluru
BUSINESS LINE / FUNCTION:
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Repo Bonds settlements
REPORTS TO:
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(Direct)
NA
GRADE:
----------



(if applicable)


Manager
(Functional)
NUMBER OF DIRECT REPORTS:
-----------------------------


NA
DIRECTORSHIP / REGISTRATION:
--------------------------------


NA

POSITION PURPOSE
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Primary responsibilities of the team includes:


Settlement of Repo and Bonds transactions and associated products in a timely and cost effective manner
Timely resolution of nostro and depot breaks
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

The team works closely with other internal teams and support functions and timely action and identification of issues are of prime importance. It is essential for this role to ensure the team deliverables are met and issues are highlighted to the relevant groups and stakeholders as appropriate.



Main drivers are client service quality, independent control, operational risk safety and cost efficiency.




RESPONSIBILITIES
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KEY RESPONSIBILITIES:
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1. Responsible for the settlement of Repo and Bonds 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
Monitoring of failing trades
Reducing fails and/or potential fails by means of pairing off or offering partials for deliveries
Pre-matching trades on a daily basis
Cash Management related with funding trades

2. Responsible 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 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 direct Manager

3. Contribute to the minimization 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, market fines and penalties etc.)
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

4. 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

5. Contribute to process improvements and IT enhancements:


By contributing to projects related to the efficiency of the processes and systems
By proposing new developments or improvements to the existing process in order to secure the processes and reduce the operational risk
By actively participating in UAT testing as and when the need arises




6. Contribute to team development:
By formalising team procedures and operating guides
By training and coaching new joiners
By actively participating in management and department staff meetings

Skills and Experience:


Strong knowledge of Securities & operational processes of securities
Knowledge of Cash Management
Strong knowledge of Microsoft software (Excel, VBA, Word, PPT, Outlook)
Knowledge of practices of Lean & CI would be a plus

COMPETENCIES:
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Multi-cultural
Analytical
Risk aware
Client oriented
Rigorous attention to detail
Result oriented
Good communication skills
Team spirit
Must be fluent in English


Experience Required


Minimum of 10 years' experience



SKILLS REFERENTIAL
----------------------


Behavioural Skills: (Please select up to 4 skills) -

Ability to deliver / Results driven



Ability to collaborate / Teamwork

Communication skills - oral & written



Critical thinking
Transversal Skills: (Please select up to 5 skills)


Ability to understand, explain and support change



Analytical Ability

Ability to develop others & improve their skills



Ability to develop and adapt a process



Ability to manage / facilitate a meeting, seminar, committee, training...



Education Level:
Bachelor Degree or equivalent



Experience Level :
At least 10 years

Other/Specific Qualifications (if required)