Senior Associate - SLAB Trade Settlements US

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. The Group 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.

About BNP Paribas Solutions - Philippines Branch

Established in 2024, BNP Paribas Solutions Philippines Branch is a branch of BNP Paribas Group, a leading bank in Europe with an international reach. We provide support services. back-office operations services related to or which further the accomplishment of the corporation’s investment services, banking transaction processing, and equity investment.

About Business Line/Function

Global Market Securities Settlements team ensures that North & South America Domestic Security transactions (Bonds, Equities, Complex Securities, ETF, SLAB, Repo.) and positions registered in the books under CIB ITO’s mandate match the commitment 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

Commitment to Diversity and Inclusion

At BNP Paribas, we passionately embrace diversity and are committed to fostering an inclusive workplace where all employees are valued, respected and can bring their authentic selves to work. We prohibit Discrimination and Harassment of any kind, and our policies promote equal employment opportunity for all employees and applicants, irrespective of, but not limited to their gender, gender identity, sex, sexual orientation, ethnicity, race, color, national origin, age, religion, social status, mental or physical disabilities, veteran status etc. As a global Bank, we truly believe that inclusion and diversity of our teams is key to our success in serving our clients and the communities we operate in.

Position Purpose

Primary responsibilities of this role include leading a team that manages settlement of Security transactions and associated products in a timely and cost-effective manner, timely resolution of nostro and depot breaks, mitigation of operational and reputational risk by escalating in a timely and efficient manner, liaising with clients, brokers / counterparties and other internal support functions for smooth settlement of trades

Responsibilities

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
• Pre-matching trades in a daily basis
• Cash Management related with funding trades
  
  

• 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
  
  

• 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
  
  

• 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.
  
  

• At least 3- 7 years of experience in the Prime Brokerage US Domestic Settlements operations for Equities or other relevant operations background.
• Must be amenable to work on a US Shift schedule ( 9:00 pm to 6:00 am SGT)
• Ability to analyze, organize and report efficiently.
• Flexibility on working methods and changing international environment.
• Resilience in a pressuring environment with utmost certainty to achieve performance excellence
• Must have the diligence to follow the set procedures and Compliance policies