Analyst – Client Clearing Collateral Analyst

Job description

About BNP Paribas:
BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 74 countries, with more than 192,000 employees, including more than 146,000 in Europe. The Group has key positions in its three main activities: Domestic Markets and International Financial Services (whose retail-banking networks and financial services are covered by Retail Banking & Services) and Corporate & Institutional Banking, which serves two client franchises: corporate clients and institutional investors. 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, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP Paribas Personal Finance is the leader in consumer lending. BNP Paribas is rolling out its integrated retail-banking model in Mediterranean countries, in Turkey, in Eastern Europe and a large network in the western part of the United States. In its Corporate & Institutional Banking and International Financial Services activities, BNP Paribas also enjoys top positions in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific.

Business Overview:
At a high level, Collateral Management is the function responsible for reducing credit risk in unsecured financial transactions. The goal is to transfer counterparty risk by issuing margin calls that equal replacement cost incurred if the client defaults. Margin calls are met with the transfer of liquid assets including cash and securities. Today's rapidly changing regulatory environment has brought upon an ongoing need to adapt existing processes to meet evolving requirements.

Responsibilities:
· Reconcile client cleared swaps activity with Clearing Houses
· Ensure protection of customer assets
· Reconcile cash and securities collateral positions
· Identify and investigate discrepancies between in house margin calculations vs clearing houses' calculations.
· Perform controls to ensure all client cleared swaps collateral movements are accurate and properly classified.
· Four eye approval of all collateral payments.
· Monitor and document the settlement of all clearing activity throughout the day.
· Perform various end of day clearing activity checks to ensure balances are in line with bookings and regulatory requirements.
· Ability to quickly assemble and disseminate all reporting required for intraday margin calls.
· Report client fails to firm wide distribution and escalate as necessary.
· Reconcile collateral activity in support of multiple business lines (including non-cleared derivatives, repos, and TBAs)
· Distribute break reporting to Collateral team in a clear and concise manner. Provide assistance to margin analysts in resolving open issues.
· Escalate unresolved issues to management.
· Perform ad hoc projects as approved by management.
· Work with internal/external auditors and prudential regulators.
Responsibilities Cont'd:
· Ensure all controls are accurately completed prior to leaving for the day.
· Staff are required to work on most US holidays.

Desired profile

Qualifications :

Minimum Required Qualifications
·  Four year college degree.
·  1 plus year of experience working with Microsoft Office.

Preferred qualifications:
·  Previous collateral management / client cleared swaps experience preferred.
·  System knowledge of Algo/TLM, BONY BDC, Integrity, Swift Alliance, and Montran a plus.
·  Familiarity with ICE, CME and LCH web portals a plus.
·  Working knowledge and understanding of the CFTC Rule on Protection of Swap Collateral and Enhanced Protections Afforded to Customers and Customers' Funds held by FCMs a plus.
·  Familiarization with CCP margin rules, collateral segregation, and LSOC reporting a plus.
·  Candidates should have working knowledge of the cleared swaps market (interest rate swaps / credit default swaps).
·  General knowledge of client and house account origins
·  Ability to build Excel based solutions (macros a plus) to improve efficiencies / controls.
·  Necessary characteristics include:
·  Track record of mitigating operational risk
·  Attention to detail, high degree of accuracy
·  Customer service etiquette
·  Strong communication skills (oral & written)
·  Sense of initiative,
·  Ability to work under pressure in a fast paced environment.
·  Candidates must be able to work well with various front and back offices, Risk IM and Legal.

FINRA Registrations Required:
·  Not Applicable

BNP Paribas is committed to providing a work environment that fosters diversity, inclusion, and equal employment opportunity without regard to race, color, gender, age, creed, sex, religion, national origin, disability (physical or mental), marital status, citizenship, ancestry, sexual orientation, gender identity and gender expression, or any other legally protected status.
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