Business Line : CLEARING & CUSTODY SERVICES
Team : GLOBAL CUSTODY INCOME
Designation : Associate
The bank for a changing world
With strong roots anchored in Europe's banking history dating back to 1848, BNP Paribas supports its clients and employees in today's changing world and has positioned itself as a leading bank in the Eurozone and a prominent international banking institution. The Group serves nearly 32 million individual customers and 1 million professionals, entrepreneurs, small and medium-sized enterprises and large corporate clients in its retail-banking networks. With over 189,000 employees representing 150 nationalities across 75 countries, BNP Paribas is one of the world's largest banks, ranking highly in both Retail Banking Services and Corporate and Institutional Banking. The Group has had a presence in India for over 150 years having established its first branch in Kolkata, in 1860. With this unparalleled experience of the Indian market, it is among the leading corporate banks in the country.
A leading global custodian and securities services provider
BNP Paribas Securities Services, a wholly-owned subsidiary of the BNP Paribas Group, is a leading global custodian and securities services provider, backed by the strength of a universal banking group. Our mission is to protect and secure assets for all actors of the investment cycle: buy-side, sell-side and issuers. A part of the Corporate and Institutional Banking business of the Group, it has USD 8,770 billion assets under custody, USD 2,074 billion assets under administration and administers over 10,000 funds. BNP Paribas Securities Services has a unique multi-local model, servicing both the buy-side (the institutional investors and the fund managers) and sell-side (the broker-dealers community and the banks) providing a global coverage of over 100 markets through 9,500 employees worldwide across 34 countries.
Global Securities Operations
One of the three international operations centres, BNP Paribas Global Securities Operations (GSO) provides services to global clients in the Asian region and some “follow-the-sun” activities for European clients. Wholly owned by BNP Paribas Securities Services, the GSO centre offers a wide range of services which include custody operations, fund accounting, middle-office operations, static data management, clearing and settlement operations and other transversal services.
Roles & Responsibilities
· Cross-checking information received with other data sources
· Reverting to local sub-custodians to clarify/solve any open issue.
· Analyzing the corporate event in order to anticipate any reporting or processing issues.
· Setting-up of financial information into the Custody system
· Collecting and relay any update related to the corporate event on an on-going basis.
· Processing the securities reconciliation with sub-custodians client positions at the different steps of the event.
· Checking eligible positions of accounts within the local sub-custodian
· Checking that all eligible positions have been instructed at response deadline (for voluntary events only)
· Consolidating client instructions (for voluntary events only)
· Advising local market by sending instructions of participation to sub-custodian ((for voluntary events only)
· Checking that instructions of participation have been duly acknowledged by sub-custodian.
· Tracking of the payment date of the event in order to advise clients accordingly
· Processing payment of the event on client's account upon recovery of cash and/or securities from the local sub-custodian
· Processing foreign exchange orders according to client's set up.
· Processing any manual adjustment related to cash or securities in order to finalize the recovery process
· Justifying any cash or securities breaks to Control Teams
· is happening on periodic basis.
· Participate in Brain Storming Sessions and share the best practices and ideas with the peer groups and team members.
· Consistently evaluate and update documented procedures to ensure they are complete, accurate and current.
Knowledge and skills required
· Strong knowledge in handling corporate actions and income related events for various instrument types
§ Expertise in Using Banking Software's & overall awareness of using MS Word, Excel, PowerPoint etc.
§ Minimum of 2 years and/or prior related industry and operations experience, in Corporate actions Operations (Hands on knowledge of SWIFT & SWIFT Alliance will be an added advantage) of a Multi National Banking Company.
§ To be based in Chennai and prepared to travel as required.
§ Must be prepared to work in any shift supporting Asia/Americas/European business hours.
Educational qualification :
Graduation / Post Graduation in commerce or Finance