Associate

Job Description

The Associate position sits in the BNP Paribas office in Bengaluru.

Job Title: Associate

Department: SMS CMP 

Subject Matter streams team is a team with expertise in:

1. Financial reporting through IFRS and FGAAP, for multi-layered entities/ equity product such as Statutory Financial Statements preparation, Management papers and Taxation.

2. Financial accounting for equity and a range of products/entities. 

3. Intercompany reconciliation between BNPP head office and its branches.

Position Purpose

The SMS team is primarily tasked with month end closing along with offering oversight and control over day-to-day transactions, operations and activities required for the daily activities, They will see to it that reconciliation breaks are investigated, understood and a GL impact assessment completed to determine whether the GL requires adjustment for the monthly closing. In addition, remediation action required must be documented and appropriate action taken to oversee any required changes to the reconciliation process or the General ledger.

Responsibilities:

A. Direct Responsibilities

1. Undertake the PL reconciliation for Capital Market stream

2. Drive the production of the Financial and Management accounting for a business unit (entity or business line)

3. Develop the coordination and governance between Platforms and Regional Finance teams for efficient delivery and optimal set up

4. Engage with the Finance Controllers to discuss financial and management accounting results, trend and variances

5. Promote the OFS processes and usages from the financial and management accounting, controls and reporting perspective, in close coherence with the F&S practice

6. Review the Standard Operating Processes (SOP’s) for productions teams to follow in the target operating model

7. Review account activity/ ledgers for accuracy of financial data and drive timely and accurate inter-company reconciliations

8. Establish a sound control environment as defined by the BNP Paribas Standard Accounting Control Plan and guarantee a robust level 1 control framework

9. Engage with External Audit, Regulators and internal control teams and drive the resolution of their queries

10. Execute the BCM responsibilities for respective team/business:

11. Define and implement proper permanent controls on BCP activities on their scope.

Quarter Ends:

-Undertake Intercompany reconciliation and analyze Gaps to sustain within Threshold

- Analyze BC150 posting to see if the same is relevant and make necessary amendments

-Timely communication with all the stakeholders

-Secure deadlines are followed

- Monitor Team deliverables

- Run audit requests from External Audit, Regulators and internal control teams.

Interclosing:

-To solve open breaks during closing

-To carry out interclosing for month ends

- To look for permanent solution for interco breaks

- To analyze and delete BC150

Generic:

-Lead and handle the CMP team in day-to-day activities

-Serve as the primary point of contact for internal stakeholders on operational matters

-Ensure compliance with best practices and company policies

-Driving force to contribute to the continuous improvement of CIB Interco processes

-To have end to end understanding of a range of Banking products

-Conduct Internal Trainings on product and Interco process for grasp Sharing

 Controls : Review and implement robust controls framework regularly for consistent high quality delivery : Spot and mitigate risks in process delivery, centre on process enhancements/harmonization and ensure a proficient setup to increase the team’s productivity and effectiveness - Direct contribution to BNP Paribas operational permanent control framework, adhere to compliance expectations, SLA preparation / review and review of operational procedures 

People Management : - Set objectives, ensure accurate performance evaluation, offer regular feedback, handle talent pool and career paths, support mobility for the teams § Coach team of finance professionals and guide their career planning § Run costs by driving efficiencies, effective hiring for optimal team pyramids, etc.

B. Reporting and Analysis

1.Performs equity and securities reporting as per IFRS and French GAAP for multiple legal entities such as Head office and its branches.

2. Preparing financial statements (US GAAP and IFRS).

Contributing Responsibilities

Participate in the upgrades/version releases of respective reporting tools, as well as system amendments/enhancements required to facilitate new/modified reporting expectations. In connection with this effort, assist in user acceptance testing and trouble-shooting after deployment.

·       Assist in recognising operational process improvements in production, control procedures, and workflow organization to increase the team’s productivity and effectiveness. Also assist in integrating and streamlining the reports under the team’s responsibility

·       Observe the bank’s policies and procedures

·       Assist in any special project or request as directed by management

Technical & Behavioral Competencies

Know-how of IFRS and US GAAP reporting with minimum years of financial reporting and analysis track record in a medium to large organization. Background in financial reporting and analysis includes preparation of US GAAP and IFRS financial statements and financial reports for senior management.

·       Basic Corporate Banking product know-how

·       Capability to obtain and sustain a thorough understanding of the general ledger structure and financial reporting

·       Secure an accurate and timely monthly, quarterly and year end close

·       Team up with the Controller to guarantee a clean and timely year end audit

·       Support Controller with special projects and workflow process improvements

·       Aptitude to learn new systems and products quickly

·       Grasp of business desktop applications (MS Outlook, Word, and PowerPoint)

·       Advanced understanding of MS Excel (formulas, pivot tables, charts, and graphs)

·       Effective analytical, organizational, and problem-solving competencies

Behavioral Abilities: 4

Capacity to collaborate / Teamwork

Attention to detail / rigor

Active listening

Negotiation Competencies

Education Level: Qualified CA/MBA

Location: Bangalore / Mumbai

About BNP Paribas Group:

BNP Paribas is the European Union’s leading bank and key player in international banking. It operates in 65 countries and has nearly 185,000 employees, such as more than 145,000 in Europe. The Group has core positions in its three main fields of activity: Commercial, Personal Banking & Services for the Group’s commercial & personal banking and several specialized businesses among them BNP Paribas Personal Finance and Arval; Investment & Protection Services for savings, investment, and protection solutions; and Corporate & Institutional Banking, focused on corporate and institutional customers. Based on its robust diversified and integrated model, the Group helps all its client organisations (individuals, community associations, entrepreneurs, SMEs, corporates and institutional customers) 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 over several Mediterranean countries, Turkey, and Eastern Europe. As a key player in international banking, the Group has leading platforms and business lines in Europe, a solid 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, empowering it to contribute to the construction of a sustainable future, while ensuring 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 throughout the Group. Driving innovation and development, we are harnessing the potential of over 10000 employees, to give support and build 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 opening 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 key to our success in serving our customers and the communities we operate in. As a global Bank, we truly believe that inclusion and diversity of our teams is core to our success in serving our client organisations and the communities we operate in.