Associate 1 - Cash Equity Settlements

2 weeks ago

Bengaluru Karnataka, India BNP Paribas Full time

ASSOCIATE 1 - CASH EQUITY SETTLEMENTS (JOB NUMBER: GLO006532)

**Job Description -**

**Security settlements Associate level 1**

About BNP Paribas Group:
BNP Paribas Group is a leading European bank with a strong global footprint across 72 markets and more than 202,000 employees. The Group provides corporates, institutional and private investors with product and service solutions tailored to their specific needs. It offers a wide range of financial services covering corporate & institutional banking, wealth management, asset management, insurance, as well as retail banking and consumer financing through strategic partnerships.
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About BNP Paribas India Solutions:
Established in 2005, BNP Paribas India Solutions is a wholly owned subsidiary of BNP Paribas Group, a leading bank in Europe with an international reach. With delivery centers located in Mumbai and Chennai, we are a 24x7 global delivery center. We partner various business lines of BNP Paribas such as Corporate and Institutional Banking, Wealth Management, Retail Banking through three verticals - Information Technology, Operations and Finance Shared Services.
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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**:
Bangalore

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

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 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 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

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