Assistant Manager - WM FX

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Assistant Manager - WM FX

mid · Trading & Markets

Job Title: Controller (Assistant Manager) 

Department: Wealth Management – Operations (FX/FX Derivatives/CLI/Interbank MM)

About Business Line/Function

The Wealth Management (WM) – FX Operations team is responsible for the end-to-end lifecycle management of Foreign Exchange (FX) instruments, including Spot, NDF, FX Derivatives, and Interbank Money Market (MM) trades. This function ensures the accurate processing, settlement, and reconciliation of client and bank FX transactions, including specialized products such as Bullion (Gold/Silver) and CLI. The team plays a vital role in managing liquidity and ensuring timely settlement across multiple booking centers (SG, HK, and TW).

Position Purpose

The Controller is responsible for overseeing the integrity of the FX operational workflow and ensuring strict adherence to the bank’s permanent control framework. The role focuses on the supervision of trade processing, the resolution of complex reconciliation breaks (Nostro, Securities, and Inter-departmental), and the management of critical settlement communications. The Controller acts as a key escalation point for discrepancies, ensuring that all regulatory, compliance, and internal control standards are met to mitigate operational and reputational risk.

Responsibilities

Direct Responsibilities

• Supervise the Inputter team to ensure the timely and accurate processing of all FX transactions, ensuring strict compliance with bank procedures, controls, and efficient workflow adoption, including during public holidays.
• Review daily Start-of-Day (SOD) and End-of-Day (EOD) control reports to identify and mitigate potential operational risks.
• Advanced Reconciliation & Break Management: Investigate and resolve complex reconciliation exceptions, including MarginMan and Olympic FX breaks (between WM and CIB), Olympic/AT2/OFS exceptions, suspense items, and WM bridging account breaks.
• Lead the timely investigation and resolution of Nostro breaks, outstanding cash items in Intellimatch BFM, and unsettled metal trades within the JPM eBTS platform.
• Oversee the timely and accurate release of MX pacs.009, camt.056, and MT2XX/6XX SWIFT messages; proactively investigate and rectify all “NAK” (Negative Acknowledgement) items.
• Ensure rigorous follow-up on open/unmatched MT300 and MT600 SWIFT messages within the Intellimatch system.
• Monitor FXTOM reports for non-interfaced, amended, or error Marginman trades; ensure prompt escalation of discrepancies to Management.
• Manage the escalation of trades not processed by T+1 and T+2; ensure all discrepancies are highlighted to Advisory (AD) or Front Office (FO) and escalate late deals to Compliance and the C&C Incidents team.
• Ensure timely processing of Bank FX deals for auto-earmarking in ILMS (SG & HK) and oversee accurate manual positioning of funds for ILMS (TW) prior to currency cutoff times.
• Provide high-level support and oversight for the processing and settlement of Bullion (Gold and Silver) FX trades.
• Act as the primary point of contact for queries from Position Keepers and the ALMT team; assist the Middle Office with regulatory trade reporting queries and discrepancies.
• Propose and implement enhancements to existing workflows and procedures to reduce operational risk and improve departmental efficiency.
• Lead the training of new staff and facilitate knowledge sharing; participate in UAT, application upgrades, and Business Continuity Planning (BCP) to ensure operational resilience.

Technical & Behavioral Competencies

• Direct contribution to the implementation and enforcement of operational permanent control policies and regulatory compliance.
• Active participation in ad-hoc projects, system testing, and the execution of Business Continuity Plans.
• Proactive identification of workflow improvements to drive operational excellence.

Specific Qualifications

• Minimum 7–8 years of experience in FX/Derivatives Operations in a Controller or supervisory capacity.
• Bachelor’s degree in finance, Economics, Management, or a related field.
• Proven experience in managing complex reconciliations and multi-currency environments.

Technical Skills

• Deep expertise in FX products (Spot, NDF, Derivatives) and Bullion markets.
• Advanced proficiency in SWIFT messaging (MT and MX/ISO 20022) and reconciliation tools (Intellimatch, BFM).
• Strong understanding of liquidity management (ILMS) and inter-departmental control frameworks.

Behavioral Skills

• Strong leadership and supervisory capabilities.
• Advanced analytical and investigative skills for complex break resolution.
• High level of professional judgment and decisive escalation skills.

Education Level: Bachelor’s degree or equivalent 

Location: Mumbai

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, 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.

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, 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. 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.