The BNP Paribas Group is a leader in banking and financial services, employing over 184,000 people across 75 countries and 5 continents.
BNP Paribas Corporate & Institutional Banking (CIB) is a leading European investment bank with global leadership in many of our businesses. BNP Paribas CIB, with nearly 30,000 employees in over 57 countries, can offer you an exciting and truly global career.
The mandate of the Settlement team is to ensure the timely payment of OTC transactions to clients that are under BNP Paribas Fortis scope. Main clients are international Corporates (major corporations & medium-sized companies) and Financial Institutions (general and specialised international Banks including Central Banks, pension funds, fund managers, insurance companies and supranational entities). The team supports BNP Paribas Fortis Business lines through the settlement and Treasury announcement of its OTC Transactions on a variety of products (vanilla, exotics, complex structures) and asset classes (Foreign Exchange, Money Market, Credit and Interest Rates Derivatives).
The Settlement department leveraging on its centre of expertise is also servicing other BNPP Group entities such as BNP Paribas SA, Securities Services, FINAMS, Personal Finance, Opera, Sec Corp… for the settlement of their Fixed Income trades. The teams handle all transactions initiated by Global Markets trading desks mainly based in Paris, London, Brussels, Singapore and New York, by ensuring that all trades feeding the Operation systems are announced to the BNPP Treasury and settled in due time. Their primary function is to ensure that all transactions booked by Trading and Sales desks through the Front Office systems are paid in accordance with BNPP Procedures. All payments where a manual intervention is required must be properly controlled; all issues identified should be reported and fixed in a timely manner by working closely with a wide range of departments: Investigations team, Front Office (Sales & Traders), Trade Support / Middle-Office, IT, Compliance, Counterparty Risk, Legal departments.
The teams perform a critical Control and Risk roles through the daily management of the Embargo and Sanctions payment alerts that could occurred.
The team is also responsible for verbal and written affirmation of trade or cash-flows details with clients prior to the valuation date, notably on the Netting process and Fees.
The whole department is also involved in a continuous process improvements approach with special focus on STP processing and management of risk and controls, new product initiatives, development of new business in all regions.
RESPONSIBILITIES
- Make sure non Straight Through Processing (STP) events are properly managed within the Operations system and ensure deals are flowing within Operations systems with no delay.
- Make sure payments (bilateral, nettings…), advices of receipt are processed once deals are matched, pre-matched or once cash flow/netting has been confirmed/reconciled with counterparties.
- Make sure payments are done before cut-off taking into account each currency specificity, and ensure no payment incident occurs.
- Manage specific processes regarding settlement Instructions when required (on non STP, urgent payment, coordination with referential teams for Standard Settlement Instructions…).
- Responsible for the full payment netting process including set up (agreeing netting conditions with counterparts including legal documentation, promote Internal Netting digital tool…) and day to day validation process.
- Make sure settlements are done according to Risk and Compliance Group guidelines/requirements including embargoes/sanctions alert management, specific Risk procedures to reduce settlement risk…
- Make sure treasury announcements are sent to Treasury Forecasting team allowing BNPP Treasury to manage Nostro accounts liquidity.
- Resolving queries and exceptions in relation with relevant departments, understanding the importance of effective escalation.
- Responsible on a daily basis for reporting the status of controls and remaining operational risk on the scope of responsibility.
- Daily liaison with business lines on discrepancies and assisting clients to meet their needs regarding payments.
- Analyse payments incidents in coordination with Investigation teams.
- Active participation to the “team life” (formalisation of team procedure, training, coaching new staff, contribution to improve team efficiency, operational process or IT functionality…).
SKILLS
- Education: Business School or Master’s Degree
- Fluent in English and Dutch or French (both oral and written communication) is mandatory
- Banking experience with an emphasis in Payments and Operations management
- Knowledge of Financial products and Banking Payment Environment (Correspondent banking, Swift payment network…) is a plus
- Good Excel command
- Stress resistant
- Controls oriented profile, ability to manage operational risks
- Ability to learn quickly and adaptability in a fast pace work environment
- Analytical skills, effective problem solver and consensus builder
- Ability to prioritize workloads and use a proactive approach to meet deadlines
- Excellent communication and interpersonal skills, team spirit and client focus
- Availability for a training period abroad (up to 3 months)