Job Description

Fixed Income Settlements - AMER


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, PNS )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.


Perform all daily settlement tasks. This includes, but is not limited to settlement of Fixed Income transactions settling through DTC and Euroclear, mark to markets, contract compare, end of day balancing and reconciliations


Job Title:


Senior Associate


Date:


Department:


Global Markets Operations -Securities settlements


Location:


Bengaluru


Business Line / Function:


Fixed Income settlements


Reports to:


(Direct)


NA


Grade:


(if applicable)


Senior Associate


(Functional)


Number of Direct Reports:


NA


Directorship / Registration:


NA

POSITION PURPOSE
--------------------


Primary responsibilities of the team includes:

• Ensure timely settlement of DTCC transactions
• Ensure timely settlement of Euroclear transactions Daily monitoring and resolution of Loanet contract compare breaks
• Process Loanet same day trade closeouts
• Monitor / resolve breaks, dks, and nostro rec items
• Settlement / resolution of DTC coupon & redemption items
• 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:


1. Responsible for the FI settlement , 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 partialing down deliveries
Minimizing fails by means of partial deliveries where possible
Pre-matching trades in a daily basis
Cash Management related with funding trades• 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 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
Monitors and take appropriate actions in case of market risks (buyins)
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• 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.• Contribution to the team development:


Formalization of team procedures and operating guides


Participation of training and coaching for new joiner.

Skills and 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.
• English speaker

Experience Required


Minimum of 5 years' experience


Amer Support