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Associate – US Settlements (US Shift) at BNP Paribas, Mumbai – Managing global securities settlement and risk mitigation.
Drive timely settlement of bonds, equities & complex securities, resolve nostro/depot breaks, and support key internal relationships.
Department
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.
Within the Securities Settlement Department, the main processes include pre & post settlement activities, clearing, and event-related accounting for securities deemed in scope.
About Business line/Function
Position Purpose
Primary responsibilities of the team include:
- Settlement of Security 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
Responsibilities
Direct Responsibilities
Responsible for the settlement of Security transactions & associated products booked in 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 on 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 passing entries to the 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 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.
Technical & Behavioral Competencies
- Ability to analyze, 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
Minimum of 4 years’ experience
Prior experience in similar domain -DTC Settlements, Treasury settlements
Skills Referential ( Required knowledge, skills and abilities)
Technical Skills
- o DTC Settlements & Application (must have)
- o Reconciliations
- o Advanced Excel
Behavioral Skills
- Ability to deliver / Results driven
- Ability to collaborate / Teamwork
- Communication skills - oral & written
- Attention to detail/ rigor
Transversal Skills
- Ability to understand, explain and support change
- Analytical Ability
- Ability to develop others & improve their skills
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, corporate 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, color, 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. 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.