Assistant Manager - Reconciliation
Chennai (Chennai)
Job description
Company Background
The Bank
With a presence in over 80 countries and employing over 200,000 staff, BNP Paribas is one of the biggest banks in the world, ranking highly in its three core business areas: Retail Banking, Corporate and Investment Banking and Investment Solutions.
BNP Paribas Securities Services
A wholly-owned subsidiary of the BNP Paribas Group, BNP Paribas Securities Services is a leading global custodian and securities services provider backed by the strength of a universal bank (rated AA- by Standard and Poor's). It has USD 5,800 billion assets under custody, USD 1,000 billion assets under administration and administers close to 7000 funds. BNP Paribas Securities Services (Securities Services) has a unique multi-local model, servicing both the buy-side (the institutional investors and the fund managers) and sell-side (the broker-dealers community and the banks) with 7,700 employees worldwide representing 92 nationalities, a local presence across 34 countries, 22 proprietary local custody and clearing branches and global coverage of over 100 markets.
Securities Services Chennai Hub
One of the three international operations centers, BNP Paribas Sundaram Global Securities Operations (GSO) provides services to global clients in the Asian region and some “follow-the-sun” activities for European clients. Our services include custody operations, fund accounting, middle office operations, static data management, IRP and other transversal services.
Job summary
Roles & Responsibilities
Cash and Stock Reconciliation
· Reconciliation of cash and stock positions in BPSS accounting platform to global custodians using automated tools and manually if custodians are not swift enabled.
· Identification of any exceptions, carry out investigations and allocation to the business areas for clearance.
· Work closely with external and internal parties to resolve delivery matters.
· Preparation of daily, monthly and any ad-hoc client reporting.
· Conduct end of day checks to ensure all breaks have been identified, investigated and assigned for clearance/resolution.
· Query resolution in accordance with time frames and amount scales as set out in SLA's.
· Preparation of KPI reporting.
· Review and ensure all material and overdue breaks have been appropriately investigated, duly followed up and/or assigned to the relevant parties for resolutions/clearance. (M)
Overdraft Reporting
· Identification of overdraft accounts and investigation on causes.
· Preparation of daily and any ad-hoc client reporting.
· Review and ensure that overdraft accounts have been correctly identified and causes have been clearly explained.
Internal Control
· Monitor daily receipts of custodians' swift and manual statements into reconciliation systems.
· Perform system and balances integrity checks.
· Maintenance of fund static data.
Income Settlement
· Work closely with UK Income Entitlement team on queries raised by client on their entitlements.
· Monitor the collection of due income entitlements with global custodians and concerned parties, where relevant.
· Perform daily settlement of income receipts in BPSS accounting platform.
· Investigate with external and internal parties on any discrepancies in income receipts.
· Query resolution in accordance with time frames as set out in SLA's.
· Preparation of KPI reporting.
Stock Availability
· Responding to stock availability queries in accordance with time frames set out in SLA's.
· Preparation of KPI reporting.
Cash Processing
· Knowledge of various SWIFTS.
· Transaction Processing.
· Preparing of KPI reporting.
· To work closely with the client and SPOKE location on the processing the FX's with various custodians.
· Maintaining accuracy in processing transactions.
Additional Responsibilities
· Monitor closely incoming emails into the respective group mailboxes and ensure appropriate and timely responses to queries.
· Help colleagues to resolve issues.
· Report and escalation of major operational incidents.
· Conduct regular break review meetings with client and update of minutes.
· Implement processes to track major operational incidents and adopt root cause eradication measures which are deemed necessary as permanent controls to avoid and/or mitigate errors (M)
· Participate in the transition and setup planning of any new fund, custody changes, termination, etc. (M)
Job requirements
Educational qualifications: College Degree, preferably a Master's degree in Commerce or MBA (Finance)
Total years of experience: 2 - 5 years
Relevant years of experience: 1-2 years for Associate level I
Knowledge and skills required
· Strong analytical skills, detail orientation, service commitment, and solid organizational and interpersonal skills.
· Ability to work independently, as well as in a team environment, prioritizes multiple tasks, and meets strict deadlines.
· Proficient in Microsoft Office Applications and strong MS-Word & Excel skills required.
· To be based in Chennai and prepared to travel as required.
· Must be prepared to work in any shift supporting Asia/Americas/European business hours.
Job specific competencies
Client Focus
Complete commitment to provide professional, intelligent and timely responses to our clients' needs and to changes in the market.
Communication
Oral: Expressing ideas effectively in individual and group situations. Adjusting communication style to match the needs of the audience.
Written: Expressing ideas clearly in all written documents. Using professional, appropriate language at all times, and adhering to the use of the BNPP Email Protocols.
Team Work
Work effectively with team members to accomplish goals, Respect the needs of others and displays integrity in dealing with team members.
Continuous Improvement and adaptation
Generate creative solutions to problems, Ability to plan work ahead and to prioritize workload in an organized manner. Always looks for ways to improve services and processes.
Desired profile
Qualifications :
Company Background
The Bank
With a presence in over 80 countries and employing over 200,000 staff, BNP Paribas is one of the biggest banks in the world, ranking highly in its three core business areas: Retail Banking, Corporate and Investment Banking and Investment Solutions.
BNP Paribas Securities Services
A wholly-owned subsidiary of the BNP Paribas Group, BNP Paribas Securities Services is a leading global custodian and securities services provider backed by the strength of a universal bank (rated AA- by Standard and Poor's). It has USD 5,800 billion assets under custody, USD 1,000 billion assets under administration and administers close to 7000 funds. BNP Paribas Securities Services (Securities Services) has a unique multi-local model, servicing both the buy-side (the institutional investors and the fund managers) and sell-side (the broker-dealers community and the banks) with 7,700 employees worldwide representing 92 nationalities, a local presence across 34 countries, 22 proprietary local custody and clearing branches and global coverage of over 100 markets.
Securities Services Chennai Hub
One of the three international operations centers, BNP Paribas Sundaram Global Securities Operations (GSO) provides services to global clients in the Asian region and some “follow-the-sun” activities for European clients. Our services include custody operations, fund accounting, middle office operations, static data management, IRP and other transversal services.
Job summary
Roles & Responsibilities
Cash and Stock Reconciliation
· Reconciliation of cash and stock positions in BPSS accounting platform to global custodians using automated tools and manually if custodians are not swift enabled.
· Identification of any exceptions, carry out investigations and allocation to the business areas for clearance.
· Work closely with external and internal parties to resolve delivery matters.
· Preparation of daily, monthly and any ad-hoc client reporting.
· Conduct end of day checks to ensure all breaks have been identified, investigated and assigned for clearance/resolution.
· Query resolution in accordance with time frames and amount scales as set out in SLA's.
· Preparation of KPI reporting.
· Review and ensure all material and overdue breaks have been appropriately investigated, duly followed up and/or assigned to the relevant parties for resolutions/clearance. (M)
Overdraft Reporting
· Identification of overdraft accounts and investigation on causes.
· Preparation of daily and any ad-hoc client reporting.
· Review and ensure that overdraft accounts have been correctly identified and causes have been clearly explained.
Internal Control
· Monitor daily receipts of custodians' swift and manual statements into reconciliation systems.
· Perform system and balances integrity checks.
· Maintenance of fund static data.
Income Settlement
· Work closely with UK Income Entitlement team on queries raised by client on their entitlements.
· Monitor the collection of due income entitlements with global custodians and concerned parties, where relevant.
· Perform daily settlement of income receipts in BPSS accounting platform.
· Investigate with external and internal parties on any discrepancies in income receipts.
· Query resolution in accordance with time frames as set out in SLA's.
· Preparation of KPI reporting.
Stock Availability
· Responding to stock availability queries in accordance with time frames set out in SLA's.
· Preparation of KPI reporting.
Cash Processing
· Knowledge of various SWIFTS.
· Transaction Processing.
· Preparing of KPI reporting.
· To work closely with the client and SPOKE location on the processing the FX's with various custodians.
· Maintaining accuracy in processing transactions.
Additional Responsibilities
· Monitor closely incoming emails into the respective group mailboxes and ensure appropriate and timely responses to queries.
· Help colleagues to resolve issues.
· Report and escalation of major operational incidents.
· Conduct regular break review meetings with client and update of minutes.
· Implement processes to track major operational incidents and adopt root cause eradication measures which are deemed necessary as permanent controls to avoid and/or mitigate errors (M)
· Participate in the transition and setup planning of any new fund, custody changes, termination, etc. (M)
Job requirements
Educational qualifications: College Degree, preferably a Master's degree in Commerce or MBA (Finance)
Total years of experience: 2 - 5 years
Relevant years of experience: 1-2 years for Associate level I
Knowledge and skills required
· Strong analytical skills, detail orientation, service commitment, and solid organizational and interpersonal skills.
· Ability to work independently, as well as in a team environment, prioritizes multiple tasks, and meets strict deadlines.
· Proficient in Microsoft Office Applications and strong MS-Word & Excel skills required.
· To be based in Chennai and prepared to travel as required.
· Must be prepared to work in any shift supporting Asia/Americas/European business hours.
Job specific competencies
Client Focus
Complete commitment to provide professional, intelligent and timely responses to our clients' needs and to changes in the market.
Communication
Oral: Expressing ideas effectively in individual and group situations. Adjusting communication style to match the needs of the audience.
Written: Expressing ideas clearly in all written documents. Using professional, appropriate language at all times, and adhering to the use of the BNPP Email Protocols.
Team Work
Work effectively with team members to accomplish goals, Respect the needs of others and displays integrity in dealing with team members.
Continuous Improvement and adaptation
Generate creative solutions to problems, Ability to plan work ahead and to prioritize workload in an organized manner. Always looks for ways to improve services and processes.