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Analyst – Sales and Client Support
BNP Paribas
Jersey City, NJ, United States
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About BNP Paribas
BNP Paribas (www.bnpparibas.com) has a presence in 80 countries with nearly 200,000 employees, including more than 150,000 inEurope. It ranks highly in its three core activities: Retail Banking, Investment Solutions and Corporate & Investment Banking. In Europe, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP Paribas Personal Finance is the leader in consumer lending. BNP Paribas is rolling out its integrated retail banking model across Mediterranean basin countries, in Turkey, in Eastern Europe and a large network in the western part of the United States. In its Corporate & Investment Banking and Investment Solutions activities, BNP Paribas also enjoys top positions in Europe, a strong presence in the Americas and solid and fast-growing businesses in Asia-Pacific.
*Rated A+ by Standard & Poor's.
Business Overview:
BNP Paribas, one of the major banks in Europe with a strong presence throughout the world, is a leader in Global Equities & Commodity Derivatives. As part of this activity, the Middle-Office is an important component, with teams established in the major financial places (New-York, London, Tokyo, Hong-Kong and Paris). The main missions of these teams are:
• The management of operations in the booking systems.
• The follow-up of client billing and reporting.
• The reconciliation of positions between FO and booking systems.
• The calculation, explanation and analysis of the daily profits and losses including reconciliation with Financial accounting results.
• The management of the referential data.
• The management of relationships with BO and Custodians.
• The management of Corporate Action events and advice to FO teams.
These missions are accomplished through a close relationship with Back-Offices, Traders, Sales, IT and Business Analysts. In this context, the GECD Trade Support is a key component of New York GECD Middle Office (46 persons). They cover all the activities and products of the Global Equity business in North America, which includes Equity and Commodity Derivatives, both Flow and Exotics, whether in Proprietary Trading, Agency or Prime Brokerage roles.
Main Tasks:
1. Monitoring of Operational Risk:
• Provide efficient FO Support with aim to guarantee accuracy of FO trading positions.
These responsibilities are realized in close relationship with the Front Office (Trading /Sales), Back-Office, accountabilities entity, data processing, information technology (IT) and project management teams. MO liaises locally and globally with goal to ensure FO position and prioritize risk on a daily basis.
Main Responsibilities:
Monitoring of Operational Risk:
• Providing proper FO Support: Products included but, not limited to; Convertible Bonds, Equity, Options, Futures, Swap (both financial and Physical), CDO’s
• Operational risk and risk of fraud set at a minimum by having in place consistent and adequate controls
◦ Orus: signoff completed daily with full disclosure of detailed reports checked, issues faced and risk accurately assessed.
◦ Improve existing processes with overall STP flow and ensure highest quality of booking
◦ Issues identified and timely escalated to his/her direct management, FO management and Permanent Control team.
Position Management:
• Guarantee accurate trading positions in FO systems
◦ Comparing positions between FO, MO and BO.
# Daily goal is to correct all discrepancies originated by system bugs, input mistakes, information loss
◦ To ensure/guarantee the payoff in the Front-Office systems
◦ To ensure all the reconciliation are performed in timely manner and every breaks are cleaned.
• Guarantee Up to date Middle Office Databases
◦ Includes expiry of products, amendments of deals characteristics, deal insertion/cancellation, secondary trade management.
◦ Includes Corporate Action Management. Processes in MO system to be in line with market and communicates with FO
• To promote an efficient dialog/discussion between the Front office and the Back-Office
◦ The MO must promote an efficient dialog/discussion between the Front-Office and the Back-Office by knowing how to manage priorities with aim to escalate relevant/pertinent information.
Trade Comparison
• Clean up on all DTC unaffirmed Prime Brokerage trades, by liaising directly with Prime Brokerage Clients and executing broker’s Middle Office and Settlements teams
• Clean up all unmatched international (ie, non US trades), by liaising directly with Prime Brokerage Clients and executing broker’s Middle Office and Settlements teams
Fail Monitoring
• Track and resolve all open fails, by liaising with Prime Brokerage clients, internal settlements teams, executing broker’s Middle Office and Settlements teams, Corporate actions and stock loan trading desk and operations
Trade Amendments and Static data updates
• Make appropriate amendments and corrections to US and non US trades to amend misbookings.
• Request client, executing broker specific updates to static and referential data to ensure BNP Prime Brokerage and Arb RM are instructing with accurate settlement information vs the specific legal entity of the execution counterparty.
Client Service / Customer Support
• Act as an operational point of contact for both external Prime Brokerage clients and internal departments to resolve open items related to unffirmed / unmatched trades, client reports, fails, static data, and any other operational issues.
Qualifications:
• BS – Economics, Finance, Accounting or other related field of study.
• At least 5 years of relevant financial industry experience.
• Proficient in Microsoft Office, especially Excel
• Knowledge of various financial markets.
• Strong sense of risk and critical thinking.
• Maintains high quality of customer service when communicating with clients.
• Display good relationship qualities, team spirit, and ability to work cross-functionally.
• Proactive and displays willingness to take initiative.
• Ability to effectively listen and communicate.
• Maintains acceptable response to stress.
• Rigorous and well organized
BNP Paribas is committed to providing a work environment that fosters diversity, inclusion, and equal employment opportunity without regard to race, color, gender, age, creed, sex, religion, national origin, disability (physical or mental), marital status, citizenship, ancestry, sexual orientation, gender identity and gender expression, or any other legally protected status.
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