Associate Level - SLAB Collateral Management

Job Description

Within the Securities Settlement Department, the main processes include pre & post settlement activities, clearing, and event-related accounting for securities deemed in scope. For SLAB, operations team manages the exposure on the bilateral trades and performs collateral trade booking in the system (where BNP receives collateral). Ops also performs recall and return bookings for the request sent by counterparty. For same day short for settlement or buy-in issue, operations book the recalls from triparty or inform the desk to make necessary borrows. Additionally, in case of account short with triparty, to have smooth release of recalls, ops requests desk to pledge-in the necessary amount of collateral, if requiredJob Title:Associate Level 1Date:2022Department:Global Markets Operations SLAB Collateral ManagementLocation:BengaluruBusiness Line / Function:SLAB - Collateral ManagementReports to: (Direct) NAGrade: (if applicable)NA (Functional) Number of Direct Reports:NADirectorship / Registration:NAPosition PurposeManage in a daily basis collateralised agreements within Collateral Management Operations to support both for derivatives security lending and repo activity.
• The Collateral Management Group processes the Net Present Value of the portfolio of trades between BNPP SA, BNPP Arbitrage and its counterparties on a daily (or as specified) basis and ensure that this exposure is sufficiently collateralised. Currently the group handles approximately $140 Billion of collateral globally on behalf of the Bank and its counterparties as regulators to require Banks to mitigate counterparty credit risk. The group interacts closely with Traders, Marketers, Legal, Credit and Operations.
• Changes in the portfolio PV (due to market price fluctuations, or new / matured trades) will generate changes in the required collateral balance. The collateral teams will call for or post additional collateral funds depending on the direction of movement of the PV of the trade portfolio relative to collateral exchanged. This daily margin call process ensures that at all times, the Bank and its subsidiaries remain as protected as possible from excessive credit risk exposure, and hence can minimise the amount of regulatory capital set aside against credit risk.
Responsibilities Key Responsibilities:
• Responsible for the settlement of Security transactions & associated products booked in BOLIVAR, on a timely and cost effective basis by:
  • Managing the exposure on bilateral trades and booking the relevant collateral trades
  • Performing recall and return bookings for request sent by counterparty
  • Recalling positions from triparty or inform desk to borrow to cover same day short or buy-in risk
  • Requesting desk to pledge-in required amount of collateral to cover triparty shorts
• Responsible for solving Nostro and Depot reconciliation breaks on a timely basis:
  • 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
• Contribute to the minimisation of settlement costs & operational risk:
  • 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 (buy-ins)
  • 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
• Contribute to the overall successful running of the settlement department:
  • 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.
Skills and competencies:
• Ability to analyse, organize and report efficiently.
• Flexibility on working methods and changing international environment.
• Rigorous and reactive in order to face pressure and reach excellence anytime
• Diligently follow the set procedures and Compliance policies
• Knowledge of financial markets and products, and easiness/expertise in dealing with Excel.
• English speaker
Experience Required Minimum of 2 year experience, *

Keyskills :
customer relationscredit riskstatic dataretail bankingbanking