Avp - Settlements & Recon - Bengaluru, Karnataka, India - BNP Paribas
Description
AVP - SETTLEMENTS & RECON (
JOB NUMBER:
OPE002843)
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.
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.
- _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.
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.
- _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:
AVP
Date:
Department:
Global Markets Operations - Securities settlements
Location:
Bangalore
Business Line / Function:
Electronic equity - Security settlements
Reports to:
- (Direct)_
VP
Grade:
(if applicable)
Associate
AVP
- (Functional)_
Number of Direct Reports:
NA
Directorship / Registration:
NA
Position Purpose
Primary responsibilities of this role includes:
- Lead a team that manages:
- Drive enhancements, synergies and standardization of functions regions
- Drive people agenda
- Ensure robust control environment across functions
Responsibilities
Key Responsibilities of the team managed by the incumbant:
- 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
- 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
- Prematching 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 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
- 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.
Skills and competencies:
- Ability to analyse, organize and report efficiently
- Flexibility on working methods and changing international environment
- Rigorous and rea
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