Settlement Officer

Job Description 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 BNP Paribas acts as a custodian bank for their clients which is a specialized financial institution responsible for providing securities services. It provides post-trade services (Clearing & Settlement) and solutions for asset owners, asset managers and broker-dealers. BNP has physical possession of its clients financial assets. These could include cash, stock certificates, bonds, and other financial instruments and are responsible for safeguarding these types of assets. Job Title Job Description Senior Associate- Local Settlements Senior Associate Date Department: 2S BSO Location: Chennai Business Line / Function Local Settlements Reports To (Direct) Manager Grade (if applicable) (Functional) Number Of Direct Reports NA Directorship / Registration Position Purpose We are looking for a motivated and detail-oriented Senior Associate to join our Settlement Operations team, focusing on APAC market specific to Australia, Singapore, and Hong Kong markets. This role is critical in ensuring timely trade settlement, managing fails and reconciliation breaks, processing fees and margins, and ensuring strong risk and control frameworks. The ideal candidate brings proven post-trade operations experience, strong market infrastructure knowledge, and a proactive problem-solving approach. The role has a weightage attached to it, as the person will have to possess good knowledge of the Trade life cycle & the Clearing and Settlement activity. Key Responsibilities Settlement & Trade Operations: - Manage daily settlement of equity and fixed income trades across CDP's (Central Depositories), ensuring timely and accurate completion with error free processing from trade capture to settlement. - Conduct trade matching, pre-matching, and affirmation with counterparties, custodians, and clearing agents. - Monitor end-to-end trade lifecycle and resolve any trade exceptions prior to market cut-off. - Monitoring of client execution and provide timely reporting to client on status and short positions. - Liaising with the counterparties for pre-matching over the phone/email to enhance smooth settlement. - Liaising with various internal and external stakeholders for any static requirement/setup/account manager follow-ups to ensure the trade settlement has no impact. Fails Management - Proactively monitor and manage settlement fails and unconfirmed trades across supported markets. - Analyze root causes of fails (e.g., SSI issues, funding delays, mismatched trade details) and coordinate timely resolution. - Escalate high-value or aging fails and work with brokers, custodians, and front office to minimize fail rates and penalties. - Track and report daily fail metrics and take part in post-mortem reviews to improve performance. Reconciliation & Break Investigation - Perform daily investigation of cash and securities reconciliations between internal systems and custodian/CCP statements provided by the reconciliation team. - Coordinate with internal teams (finance, middle office, IT) and external parties (brokers, custodians) for prompt resolution. - Maintain robust audit trails and exception documentation for unresolved breaks and pending investigations. Clearing Process - Interface with clearing houses (ASX Clear, CDP, HKCC , Clearstream, Euroclear , T2S) to manage novation, netting, and daily clearing obligations. - Ensure proper segregation and reconciliation of cleared vs. bilateral trades, and accurate internal representation. - Liaise with clearing brokers and CCPs to resolve trade rejections, margin differences, and clearing breaks. Cash Margin, Charges & Fee Processing - Calculate and monitor daily cash margin requirements and ensure funding of margin calls within deadlines. - Process and reconcile clearing fees, brokerage commissions, stamp duties, and regulatory charges. - Validation of margin call and processing/posting for shortages on same day. - Ensure proper control are in place on validation of MT103/ MT202 payments related to margin posting and ensure SSIs are correct. - Preparation of Journal posting for Fees/Maintenance with Settlement Bank/ Interest Charges. Risk Management & Controls - Actively manage settlement and operational risk, with a focus on preventing trade fails, margin breaches, and unmitigated breaks. - Ensure timely escalation of high-risk or unresolved exceptions in line with operational risk policies. - Participate in regular risk reviews, RCSA, and audit preparations, ensuring full compliance with internal controls. - Contribute to business continuity planning (BCP) and disaster recovery testing as required. Continuous Improvement & Reporting - Maintain and enhance SOPs and process documentation for settlement and reconciliation processes. - Prepare and distribute daily, weekly, and monthly MIS reports for fails, fees, breaks, and margin status. - Participate in system testing (UAT), automation initiatives, and process reengineering to improve control and efficiency. - Identify opportunities to reduce manual processing through Excel automation & VBA scripting Technical & Behavioral Competencies - Excellent attention to detail, risk awareness, and ownership of issues until resolution. - Strong analytical and reconciliation skills to investigate and resolve complex issues. - Clear and professional communication for working with internal and external stakeholders. - Adaptability and reliability in a high-volume, deadline-driven environment. - Excellent attention to detail, risk awareness, and ownership of issues until resolution. Specific Qualifications (if Required) - Postgraduates (Preferably Finance background). - Candidates should be willing and flexible to work in any shifts. - 36 years of experience in settlement operations or post-trade support in capital markets or investment banking. - Hands-on experience with fails management, reconciliations, clearing, and fee processing. - Working knowledge of market infrastructures and CCPs (ASX, HKEX, SGX, T2S, Euroclear , Clearstream) and platforms like SWIFT, Euroclear and internal booking systems. - Strong familiarity with regulations and practices across Europe , Australia, Singapore, and Hong Kong. Skills Referential Behavioral Skills: Ability to collaborate / Teamwork Communication skills - oral & written Client focused Creativity & Innovation / Problem solving Transversal Skills Analytical Ability Ability to understand, explain and support change Education Level Master Degree or equivalent Experience Level At least 3 years Other/Specific Qualifications (if Required) - Thorough understanding of Capital market, Financial Instruments, Investment baking processes would be added advantage.