Assistant Manager - Collateral Management

Job Description

Job Title: Assistant Manager

Department: ISPL Collateral Management CIB

About Business line/Function: 

The Collateral Management Group compares the Net Present Value of the portfolio of trades between BNP Paribas and its counterparties on a daily (or as specified) basis and make sure that this exposure is sufficiently collateralized.

Position Purpose: 

The process requires comparison of exposures with the value of the assets pledged, in accordance with the parameters specified in the legal agreement. Changes in exposure will generate changes in collateral balance. The collateral teams will call for or post additional collateral. This daily margin call process ensures that the Bank is covered in terms of excessive credit risk exposure. As a part of regulatory expectations of EMIR, collateral management is also required to undertake portfolio reconciliation as a risk mitigation technique for dispute resolution and to be in line with regulatory needs of EMIR. Process requires collaborating with client organisations, Middle Office, P&L and risk team along with main stakeholders over the bank to report / resolve issues.

Responsibilities

Direct Responsibilities

· Undertaking daily margin call process front to back for specified customers.

· Margin Call issuance and chasing clients for unanswered margin calls for OTC and REPO business lines

· Investigating disputed calls and liaising with client organisation, MO and legal on several aspects of disputed margin calls.

· Chasing clients on failed/missed payments.

· Investigating with settlements team on all bonds that have not settled in the market. 

· Working on Substitution requests sent by client organisations/traders.

· Booking interest for all monthly customers.

· Investigating Interest discrepancies.

· Review control report to secure effective break, fails and exception management

· Undertake trade level reconciliation between BNPP and customer portfolio as per EMIR Regulations.

· Investigating and resolving unmatched, entity mismatch and ageing trade breaks that contribute to disputes.

· Investigating and resolving trades breaking due to MTM discrepancy.

· Creating Dispute Notes and collaborating with Margin Call team on trades breaking due to MTM discrepancy.

· Undertaking high level analysis on Booking / cash flows / FX / discounting / validation of Bid-offer prior to reaching out to Front Office / Valuations teams for further analysis.

· Ownership of Collateral Dispute which requires partnering with Risk / Front Office to review CSA level / trade level disputes and delivering a clear status to allow next steps for resolution to be determined.

· Presenting findings to the management during meetings.

· Creating and keeping up KPIs and carry out quality checks.

Contributing Responsibilities

· Point of escalation for client queries, trade breaks, disputes and fails resolution.

· Working on shaping and implementing new controls / processes based on Business/ Risk / Industry evolution to better support the risk management needs of BNPP.

· Designing and testing new functionalities.

· Work closely with other managers in Collateral Operations to efficiently execute daily collateral management activities

Technical & Behavioral Competencies

· Sound Communication capabilities required for an effective liaison with counterparties and internal stakeholders in the reconciliation process. (Middle offices, marketers, traders, Risk, Clearing Houses, compliance and legal)

· Know-how of derivative products (Credit, Interest Rate, FX, Equities).

· Sound understanding of Trade Life Cycle.

· Exposure to Portfolio Reconciliation Operations, Collateral Management Operations or another Middle Office Operation functions within Investment Banking is favorable.

· Working experience on Trioptima, Acadia and POWER BI favorable

· Basic Excel abilities required.

· Experience of ISDA /GMRA documentation

Specific Qualifications: (If required)

· Minimum 5 years of experience along with Bachelor's Degree - in management, finance, related field or equivalent experience.

Capabilities Referential (Required know-how, abilities and abilities)

· Skill 1 – Solid know-how of Trade Life Cycle

· Skill 2 – Grasp of derivative products (Credit, Interest Rate, FX , Equities).

· Skill 3 - Background in Portfolio Reconciliation Operations, Collateral Management Operations or another Middle Office Operation functions within Investment Banking is favorable.

Technical Competencies:

· Skill 1 – MS Office

· Skill 2 – Pivot tables/ VLOOKUP / HLOOKUP/ Other excel formulas

· Skill 3 – Email Management

· Skill 4 - Power point Presentation

Behavioral Abilities: 

· Skill 1 - Attention to detail / rigor

· Skill 2 - Capacity to produce / result driven

· Skill 3 - Capability to share / pass on Understanding 

· Skill 4 - Aptitude to share / pass on Grasp 

Education Level: Bachelor Degree or equivalent

Location: Mumbai

Shift: APAC/ EMEA /NY

About BNP Paribas Group:

BNP Paribas is the European Union’s leading bank and main player in international banking. It operates in 65 countries and has nearly 185,000 employees, covering more than 145,000 in Europe. The Group has key positions in its three main fields of activity: Commercial, Personal Banking & Services for the Group’s commercial & personal banking and several specialized businesses such as BNP Paribas Personal Finance and Arval; Investment & Protection Services for savings, investment, and protection solutions; and Corporate & Institutional Banking, focused on corporate and institutional clients. Based on its sound diversified and integrated model, the Group helps all its customers (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realize their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, BNP Paribas has four domestic markets: Belgium, France, Italy, and Luxembourg. The Group is rolling out its integrated commercial & personal banking model spanning several Mediterranean countries, Turkey, and Eastern Europe. As a main player in international banking, the Group has leading platforms and business lines in Europe, a robust presence in the Americas as well as a solid and fast-growing business in Asia-Pacific. BNP Paribas has implemented a Corporate Social Responsibility approach in all its activities, equipping it to contribute to the construction of a sustainable future, while guaranteeing the Group's performance and stability.

About BNP Paribas India Solutions:

Established in 2005, BNP Paribas India Solutions is a wholly owned subsidiary of BNP Paribas SA, European Union’s leading bank with an international reach. With delivery centers located in Bengaluru, Chennai and Mumbai, we are a 24x7 global delivery center. India Solutions services three business lines: Corporate and Institutional Banking, Investment Solutions and Retail Banking for BNP Paribas over the Group. Driving innovation and progress, we are harnessing the potential of over 10000 employees, to offer support and create best-in-class solutions.

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 prospect for all employees and applicants, irrespective of, but not limited to their gender, gender identity, sex, sexual orientation, ethnicity, race, colour, 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 main to our success in serving our clients and the communities we operate in. As a global Bank, we truly believe that inclusion and diversity of our teams is key to our success in serving our customers and the communities we operate in.

This Assistant Manager - Collateral Management vacancy is based in Mumbai.