Finance Product Control & FX PnL Reconciliation

Job Description

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 across the Group. Driving innovation and growth, we are harnessing the potential of over 10000 employees, to provide support and develop best-in-class solutions.

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, including 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 specialised businesses including 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 strong diversified and integrated model, the Group helps all its clients (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 across 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 strong 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, enabling it to contribute to the construction of a sustainable future, while ensuring the Group's performance and stability

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, 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 clients and the communities we operate in.

About Business line/Function:

The ISPL Financial Shared Services (FSS) Platform performs production and reporting activities delivered to onshore teams focused on fronting activities, and provides offshore support to nearshore teams, thus fostering standardization and Finance transformation. It is split into three components with the following missions: i.e. APAC Regional FSS, Global FSS and World Wide FSS

Job Title:

Manager – Pnl and FX Reconciliation

Date:

2023

Department:

Nearshore Production

Location:

Mumbai

Business Line / Function:

Finance Shared Services

Reports to:

(Direct)

 VP

Grade:

(if applicable)

(Functional)

Number of Direct Reports:

N/A

Directorship / Registration:

NA

Position Purpose

• Perform for the APAC region the first level controls for the P&L and FX reconciliations, ensuring differences are highlighted, adjusted and solutions are implemented.
• Act as a key point of contact to the Middle Office, Operations, Local Finance and the Regional teams.
• Review underlying products and transactions to resolve discrepancies.
   

Responsibilities

Direct Responsibilities 

• Perform Profit & Loss reconciliation between Middle Office and accounting
• Perform Foreign Exchange reconciliation between Middle Office and accounting
• Perform reconciliation of Mark to Market to Equity between Middle Office and Accounting
• Explain the differences between the Middle Office and the Accounting P&L (structural differences and P&L corrections)
• Verify the accounting corrections detected in the context of the controls have been correctly processed
• Monitor the remaining difference is at an immaterial level, and assess requirement for provision
• Maintain the system and reports for P&L and FX reconciliation
• To handle the finance validation of the day to day front office portfolio request and ensure it is aligned with the accounting setup.
• Suggest improvement in the system and data flow for P&L and FX reconciliation
• Communicate with a wide range of departments (Middle Office and Operations), Finance teams (regional and local) and  Performance Management Team
• Handle ad hoc queries as requested by Management
• Review team’s tasks and maintain KPI
• Maintain good relation with extended teams and clients
• Migrate the reconciliations in the new ledger post OFS implementation per entity

Contributing Responsibilities

• Contribute to the implementation of operational permanent control policies and procedures in day-to-day business activities, such as the Control Plan
• Contribute towards UAT and go-live of reconciliation in new finance ledger; OFS
• Direct contribution to BNPP operational permanent control framework
• Comply with regulatory requirements and internal guidelines 
• Contribute to the investigation/coordination with local finance, operation & MO on other control issues.
• Contribute to the overall Asset Liability Management and Rest of the bank FX position and P&L sell down process
• Provide assistance in performing control on data flow for Capital Market Activities
• Assist Performance Management in reconciling accounting P&L with the business line P&L reported in Paradigm. 

Technical & Behavioral Competencies

• Ability to work under pressure in a complex environment with stake holders from various areas
• Data mining skill & analytical
• Self-organized, with strong ability to anticipate, plan and priorities issues
• Rigorous for implementation with culture of controls
• Capital Market Product knowledge
• Sound financial accounting knowledge
• Proficiency in Microsoft Excel, Word, PowerPoint, MS Access, Business Object (SQL, Macro & VBA knowledge is an advantage)

Specific Qualifications (if required)

Professional experience 

• Familiar with large international Corporate & Investment Banking activities and organization
• Relevant experience in Banking, Capital Market activities and Treasury (minimum 4 years)
• In Middle Office or Product Control department, as trade support , P&L calculation and analysis or organization function 

Education 

• CA / MBA Finance

Skills Referential

Behavioural Skills: (Please select up to 4 skills)

Ability to collaborate / Teamwork

Ability to deliver / Results driven

Communication skills - oral & written

Client focused

Transversal Skills: (Please select up to 5 skills)

Ability to develop and adapt a process

Ability to set up relevant performance indicators

Analytical Ability

Ability to understand, explain and support change

Ability to inspire others & generate people's commitment

Education Level:

Chartered Accountant

Experience Level

At least 7-9 years

Other/Specific Qualifications (if required)

• Good communication skill
• Very high comfort with working with numbers: rigor, analytical mind-set, ability to interpret numbers
• Strong sense of organization, ability to prioritize tasks and meet deadlines
• Hard working
• Team spirit
• Curiosity and open to other cultures