Associate Level 1 - Fee Services

The candidate would be Part of Derivative Execution and clearing team, working along with the DEC Market Fees Reconciliation and Brokerage team.The role would concentrate To clear and allocate exchange traded derivatives trade on behalf of the client. Ensure all top day trades are cleared and reconciled against cleaning house by the end of day.

The role requires a high level of attention to detail, to ensure BNPP SAs external end client fees are validated and any required corrections or amendments are processed accurately and according to procedure. The candidate would be working with large volumes of trade data so should be comfortable using Excel to summarize, as well as to drill down and independently investigate any discrepancies that may arise.

Work effectively with team members to accomplish common goals. Generate creative solutions to problems, Ability to plan work ahead and to prioritize workload in an organized manner.

Undertake a variety of financial and non-financial tasks in order to help guarantee the companys revenues; handle the processing of incoming payments along with the issuing of necessary paperwork.

Responsibilities

Middle-office

• Be the 1st point of contact for all counterparties (clients, brokers, CCPs) with regards to trade allocation/clearing
• Top day trade monitoring and allocation for involved exchanges to ensure STP trade flow
• Follow up of pending trades closely and ensure all clients trades are booked at T day
• Perform timely reconciliation between internal systems and Exchanges ones
• Identify, assess, monitor and control the risks of the activity

Back office

• Clearing Houses vs Back Office Reconciliations (margins, premiums , positions, initial margins)
• Ensure that reports sent to clients are reliable
• Manage daily payments and intra-day margin calls
• Ensure that all clients related issues, queries and request are addressed in an efficient, accurate and timely manner
• Monitoring of corporate action events impacting the underlying contracts
• Follow up of instructions settlement processing
• Maintenance of the accountancy balance (Market fees reconciliation, CCP vs client cash flows)
• Participate in projects to drive the business forward to deliver internal or market system releases (Market releases, MO/BO tools enhancements)
• Monitoring position for T and t+1
• Process the reconciliation vis--vis the clearing house (trades, position, premium, Initial margin, variation margin, fees etc.) for various markets across globe.
• Follow-up & solving client queries
• Adhere to daily checklist to ensure controls are followed.
• Contributing ideas to improve the process by identifying appropriate control measures.
• Ensure importance is given to four eye validation for each activity
• Managing BAU emails/ phone calls related to Listed Derivatives
• Ensure proper documentation for the purpose of risk and audit trail
• Abiding the Service Level Agreements.
• Ability to work independently, as well as in a team environment, prioritizes multiple

Tasks and meets strict deadlines.

• Highlight any unresolved open items to the respective process Managers.

Risk control

• Monitor activity progress against the goals and take appropriate corrective action as and when it is required
• Control and ensure that all tasks are processed accurately and on a timely manner
• Identify risk, suggest implementation of a first level of control.

Contributing

• Deal with client and brokers issues escalated by the team and share it with the management when appropriate
• Participate in client visits (if required) and conference calls
• client focus
• Collaborate /Liaise with other BNPP teams/stakeholders.
• Ensure that procedures are updated and validated on a timely manner
• Perform and updated the status of the assigned tasks in the daily task checklist.
• Breaks analysis and dispute resolution

Reconciliations - Exchange Fees, Market Fees, T+1

• Strong Communication skills required for an effective liaison with counterparties and internal stakeholders to the reconciliation process. (Middle offices, marketers, traders, credit, compliance and legal)
• Knowledge of Exchange Traded derivative products /ETD Clearing.
• Experience of the commodity exchanges and CCPs platforms - preferable though not required
• Flexibility to accommodate business requirements and working hours.
• Ability to use Excel at an intermediate level - essential
• Excellent numerical and analytical skills - essential
• Ability to analyse large volumes of data
• High attention to detail and quality focused
• Be comfortable with escalation and managing issues as they arise
• Forward thinking and proactive with the ability to question process
• Ability to work under pressure
• Team Player

• Bachelors degree from a college or university
• Strong Communication skills and client focus oriented
• Fundamental understanding of clearing /Futures & Options markets.
• Knowledge of all Microsoft Office applications (Excel, Word, PowerPoint, Access)