Associate - Middle Office Operations

Job description

BNP Paribas Global Securities Operations – Job Description


Business Line : CLEARING & CUSTODY SERVICES
Team : Corporate Actions
Designation : PROCESSOR

Company background

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.

About BNP Paribas in Asia Pacific (www.apac.bnpparibas)
In Asia Pacific, BNP Paribas is one of the best-positioned international financial institutions with an uninterrupted presence since 1860. Currently with over 15,000 employees* and a presence in 14 markets, BNP Paribas 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.

Worldwide, BNP Paribas has a presence in 74 countries with more than 190,000 employees. It 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. Asia Pacific is a key strategic region for BNP Paribas and it continues to develop its franchise in the region.

BNP Paribas offers you an exciting career opportunity in an international, challenging business environment characterized by high pace and diversity with focus on creating valuable relations with our customers. We offer a competitive salary & benefits package and also an excellent work environment where you're valued as part of our team!

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.

Job summary


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.
· 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.

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.
· Able to clearly understand and envisage the SWIFT messages (MT564, MT565, MT567, MT568, MT599 etc). The Associate should read through the SWIFT message very comfortably and act on the amendments in the message ( Field - 23C: NEWM / REPL / CANC/ REVR etc)
· To create events for the respective teams (Mandatory, Voluntary, Income, DVOP & Tax) by analyzing and understanding the SWIFT messages with error free processing and high standards.
· Understanding the usage and implications of the Applications like Reflections, Intellimatch, MIDAS, and ISISET and apply it in daily BAU when required.
· Should be well versed in checking Client inbound and analyze whether the particular client / trade is eligible for the CA. If in case of any discrepancy, need to re-confirm with the ISISET application to check the status of trade.
· Need to perform the Entitlement and Eligibility reconciliation to forecast the payments and holdings in the future.
· Should be well versed with the Reflections especially with the functions like CMP, CCV,CCA,CTAK, CVVC etc
· Should be able to research and analyze the Nostri and Pivot breaks, then acting upon in resolving the breaks.
· Should be able to comfortably process the payments (Security & Cash) from MT 566 messages received without error and within specified time bound .
· Should be able to create instructions (Manual Instructions also) and deposit the message with due -diligence and accuracy.

Job requirements

Educational qualification: Graduation / Post Graduation with specialization in Commerce or Finance.

Desired profile

Qualifications :

BNP Paribas Global Securities Operations – Job Description


Business Line : CLEARING & CUSTODY SERVICES
Team : Corporate Actions
Designation : PROCESSOR

Company background

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.

About BNP Paribas in Asia Pacific (www.apac.bnpparibas)
In Asia Pacific, BNP Paribas is one of the best-positioned international financial institutions with an uninterrupted presence since 1860. Currently with over 15,000 employees* and a presence in 14 markets, BNP Paribas 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.

Worldwide, BNP Paribas has a presence in 74 countries with more than 190,000 employees. It 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. Asia Pacific is a key strategic region for BNP Paribas and it continues to develop its franchise in the region.

BNP Paribas offers you an exciting career opportunity in an international, challenging business environment characterized by high pace and diversity with focus on creating valuable relations with our customers. We offer a competitive salary & benefits package and also an excellent work environment where you're valued as part of our team!

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.

Job summary


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.
·  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.

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.
·  Able to clearly understand and envisage the SWIFT messages (MT564, MT565, MT567, MT568, MT599 etc). The Associate should read through the SWIFT message very comfortably and act on the amendments in the message ( Field - 23C: NEWM / REPL / CANC/ REVR etc)
·  To create events for the respective teams (Mandatory, Voluntary, Income, DVOP & Tax) by analyzing and understanding the SWIFT messages with error free processing and high standards.
·  Understanding the usage and implications of the Applications like Reflections, Intellimatch, MIDAS, and ISISET and apply it in daily BAU when required.
·  Should be well versed in checking Client inbound and analyze whether the particular client / trade is eligible for the CA. If in case of any discrepancy, need to re-confirm with the ISISET application to check the status of trade.
·  Need to perform the Entitlement and Eligibility reconciliation to forecast the payments and holdings in the future.
·  Should be well versed with the Reflections especially with the functions like CMP, CCV,CCA,CTAK, CVVC etc
·  Should be able to research and analyze the Nostri and Pivot breaks, then acting upon in resolving the breaks.
·  Should be able to comfortably process the payments (Security & Cash) from MT 566 messages received without error and within specified time bound .
·  Should be able to create instructions (Manual Instructions also) and deposit the message with due -diligence and accuracy.

Job requirements

Educational qualification: Graduation / Post Graduation with specialization in Commerce or Finance.