About BNP Paribas
BNP Paribas (www.bnpparibas.com) is one of the best rated banks in the world*. The Group has a presence in more than 80 countries and more than 200,000 employees, including more than 160,000 in Europe. It ranks highly in its three core activities: Retail Banking, Investment Solutions and Corporate & Investment Banking. 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 across the Europe-Mediterranean zone and boasts a large network in the western part of the United States. In its Corporate & Investment Banking and Investment Solutions activities, BNP Paribas also enjoys top positions in Europe, a strong presence in the Americas and solid and fast-growing businesses in Asia.
About BNP Paribas Securities Services:
BNP Paribas Securities Services is a wholly-owned subsidiary of the BNP Paribas Group, delivering flexibility and commitment, backed by the strength of a leading universal bank. Operating across the investment cycle, we provide post-trade administration solutions to buy-side and sell-side financial institutions and issuers. The Bank has a local presence across 32 countries and global coverage of over 100 markets, offering a one-stop shop for all asset classes, both onshore and offshore, across the globe. With USD 6,975 billion of assets under custody, USD 1,244 billion assets under administration and more than 6,600 funds administered as at 30 June 2011, BNP Paribas Securities Services is a top five global provider of securities services*.
* Source: BNP Paribas securities Services Globalcustody.net competitors' AuC tables.
Responsibilities: As a Middle Office Operations analyst, the incumbent is responsible for the following tasks/duties:
• Fail Trade Management : ensure all trades are collected, uploaded and investigated with counterparties / clients daily;
• Transaction Flow Processing: ensure all cash movements instructed by client or group are posted timely and accurately to accounting system;
• Transition Processing: ensure all fund management as directed by client is completed timely and accurately as instructed by client;
• Corporate Action / Income Processing: ensure all corporate action and income activity is accurately posted to accounting as instructed;
• Claims Management : Research and reporting of trade history resulting in claim to management;
• Novations Management : Chase counterparties for pending Novation consent and communicate status of all client novations to global teams;
• Other duties as assigned by management to meet the needs of the current business environment.
NATURE AND SCOPE OF JOB RESPONSIBILITY
• Management & Resolution of failing trades
• Management of daily processing requirements (Cash/Income/Corporate Action/Transitions)
• Claims Investigation
• Management of Novations
• Query resolution
• Quality control / Daily reporting
• Team growth / Technological enhancements
Management & Resolution of failing trades
• Maintain access to all custodian daily fail reports via website access or email;
• Ensure all failing trades are identified, logged, collected and uploaded to MAC system daily;
• Research, resolve and notate detailed history of all fails;
• Complete all daily deliverables & controls timely and accurately;
• Correct SWIFT instructions when required and ensures settlement instructions accurately reflect details of trade and settlement instructions;
• Communicate fails and resolutions openly, accurately, and timely with Client and Counterparties.
MANAGEMENT OF DAILY PROCESSING REQUIREMENTS
• Process all activity as directed by client or internal team same day as instructed;
• Complete all daily deliverables & controls timely and accurately;
• Communicates completion of processing accurately and timely to requesting party (client / internal team etc).
Claims investigation
• Ownership of BP2S Weekly Claims report;
• Submit all claims as reported by client or third parties to BP2S Claims group;
• Research and provide detailed historical background to BP2S Claims group for resolution;
• Communicate trade facts openly, accurately, and timely with Client and third parties.
MANAGEMENT OF DAILY NOVATIONS
• Process all activity as directed on daily hand-over from global teams same day as instructed;
• Monitor systems for new novations pending consent;
• Chase counterparties for consent;
• Respond to third party queries timely and accurately;
• Complete all daily deliverables & controls timely and accurately;
• Communicates completion of processing accurately and timely back to global teams.
QUERY RESOLUTION
• Timely acknowledgement of enquiries and resolution assistance;
• Assist other business areas within the Bank with query resolution or reconciliation breaks by providing trade details, assisting Reconciliation teams in research and rebilling trades when necessary.
QUALITY CONTROL/DAILY REPORTING
• Minimize the Bank's risk by ensuring all activity is processed daily;
• Identify Straight Through Processing issues in a timely manner, and communicates to appropriate management and development teams;
• Accurately log daily team stats to track trends, identify possible operational changes and recommend enhancements to appropriate parties;
• Assure proper controls within the Group are maintained & completed accurately;
• Complete accurate 'End Of Day' control report to management.
TEAM GROWTH / TECHNOLOGICAL ENHANCEMENTS
• Identify areas for operational improvement, reducing risk and increasing efficiency for both BNP and the clients;
• Communicate effectively with other areas of the Bank;
• Ensure effective teamwork with fellow co-workers ensuring group operations function in an orderly fashion, in accordance with group responsibilities to clients.
• 1-2 years of relevant experience
• Extensive knowledge of fixed income, equity, derivatives
• Fail Trade Management experience
• Corporate Action experience
• Knowledge of Novations, Money Markets, FX, Repos, Term Deposits a plus
• Working knowledge of Bloomberg system; able to use the details obtained to research trading errors
• Able to accurately confirm settlement details
• Complete understanding of client account structure, including funds and sub-funds
• Strong negotiating skills
• Able to effectively communicate with client and Bank personnel to appropriately service clients
• Ability to resolve fail trades and knowledge of SSIs/ALERT
• Understand the need for controls, ensuring additio
nal controls are incorporated as needed
• Identify trends and recommend course of action to resolve/improve/enhance current operations
• Ability to organize an accurately detailed summary report to global teams in line with a global client service model
• Demonstrate strong teamwork with internal and external groups
• Ability to use lateral thinking ("out of the box" enhancements)
• Excellent communication (both verbal and written) skills
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