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Vice President - Collateral and Margin Settlements Manager

Company: BNP Paribas S.A.
Location: Jersey City
Posted on: November 25, 2022

Job Description:

Job Description - Vice President - Collateral and Margin Settlements Manager (COR002616) Vice President - Collateral and Margin Settlements Manager ( Job Number: COR002616 ) BNP Paribas is a leading bank in Europe with an international reach across the US, EMEA and APAC. It has a presence in 68 countries, with more than 193,000 employees. The Bank offers a comprehensive range of banking, investment and financial services solutions through three main fields of activity: Retail Banking for the Bank's retail-banking networks and several specialized businesses including BNP Paribas Personal Finance and Arval; Investment & Protection Services for savings, investment and protection solutions; and Corporate & Institutional Banking, focused on corporate and institutional clients. Based on its strong diversified and integrated model, BNP Paribas helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporate and institutional clients) to realize their projects through solutions spanning financing, investment, savings and protection insurance. In the United States, BNP Paribas has built a strong and diversified presence to support its client base. The bank employs nearly 14,000 people and has had a presence in the country since the late 1800s in major cities including New York/New Jersey, San Francisco, Boston, Chicago, Denver and Washington, DC. Business Overview: Fully integrated in the BNP Paribas Group, BNP Paribas Corporate and Institutional Banking (CIB) is a leading provider of solutions to two client franchises: corporate and institutional, and operates across EMEA (Europe Middle East Africa), APAC (Asia Pacific) and the Americas. The bank is a global leader in Debt Capital Markets and Derivatives. It is a top European house in Equity Capital Markets and it has leading franchises in Specialized Financing. In Securities Services, it is a top five House worldwide. BNP Paribas CIB strives to service the global economy by providing solutions to its clients in financing (ECM, DCM, specialized financing), flow banking (trade finance and cash management), financial advisory (M&A, project finance), global markets (interest rates, credit, foreign exchange, equity derivatives), risk management, and securities services. DEC US Operations team is part of the US Derivatives Execution and Clearing Operations department who collectively provides customer service, risk and funds management, trade processing and reconciliation, client on-boarding, accounting, post trade execution investigation, performance margining, exchange balancing, contract expiration processing including physical delivery, fee maintenance, and regulatory review and rule implementation. These clearing and operational functions require the team to manage communication across clients and multiple lines of business accessing several exchange applications, banking tools, and internal operating systems to support the flow and record of commodity futures, options, and OTC trade execution on a daily basis. Our primary focus is to perform our responsibilities under a controlled environment that is compliant with strict regulatory rules and guidelines while providing superior client services and solutions. The expected starting salary range for this position in New Jersey is between $120,000 to $147,000 annually.. The actual salary may vary based upon several factors including, but not limited to, relevant skills/experience, time in role, base salary of internal peers, prior performance, business line, and geographic/office location. Candidate Success Factors: Candidates will be measured on the following four performance drivers which will dictate how individual impact is considered on the Americas platform:

  • Results and Impact
    • Impacts division and influences peers and team
    • Demonstrates good judgement when making decisions of high complexity and impact
    • Relies on limited guidance for most complex decision making
    • Is responsible for driving outcomes which have meaningful effect on team or department
    • Leadership and Collaboration
      • Creates trust with department leaders
      • Acts in leadership capacity for large projects, processes, or programs for a team
      • Client, Customer and Stakeholder Focus
        • Able to build relationships with a mix of intermediate and senior colleagues or clients
        • Interacts regularly with management and department leaders
        • Demonstrates the ability to persuade and influence stakeholders at the team level
        • Compliance Culture and Conduct
          • Takes full responsibility for personal actions and demonstrates courage in facing problems and conflicts
          • Perceived as a person of high moral character; upholds corporate values and displays high ethical standards" Responsibilities:
            • Client experience focus directly interacting with the listed derivative global client base to manage their margin, cash, and collateral settlements and inquiries
            • Direct communication with CTFC regulators, compliance teams, auditors, FCM community, and global business partners
            • Managing staff and processes in a highly productive operations environment that is focused on driving results, accuracy, and leading for success
            • Extensive knowledge of the CFTC regulations, NFA, and CCP rulebooks for FCM clearing operations of settling margin, collateral, and customer protection regulations
            • Managing the cash wire, securities movements, and related control processes incorporated into the settlement of client and CCP facing margin
            • Account balancing of various depositories requiring in depth investigation to resolve related breaks and inquiries -
            • Key risk indicator and statistical capture, recording, and analysis of operational process and staff performance trends -
            • Independently leads large scale projects to implement processes that comply with necessary changes, growth, and or new regulations and rules
            • Provides training and instructional demonstration to staff, partners, and clients in regards to the firm's margin settlement framework, regulatory requirements and related operational processes
            • Demonstrates a highly competent working knowledge of FCM operations involvement in the life cycle of execution and clearing activities that result in the calculation margin requirements
            • Ensure ample familiarity with our escalation procedures and raises issues to the appropriate contacts in a timely manner to ensure all are aware of potential risk while taking ownership of the issue and sees through to resolution
            • Reviews processes and provides feedback for enhancement with additional responsibility for managing the enhancement for operations and seeing through to completion
            • Collaborates with Product on projects to improve the client offering and presents the operations point of view on behalf of her team Leadership/Supervisory Responsibilities:
              • Proactively builds and leverages internal BNP network relationships to assist with accelerating initiatives
              • Reinforces a positive team environment and promotes transparent messaging consistent with senior management department branding
              • Clearly communicates in a group setting, providing a different point of view in a professional manner
              • Leads by example through consistently delivering exceptional client service to internal and external clients
              • Expected to play a part in providing feedback on colleagues and their performance
              • Active supporter of BNP Values, DEI in the work place
              • Clearly communicates in a group setting, providing a different point of view in a professional manner
              • Identify areas for personal development to advance knowledge base and skills required for role
              • Enthusiastically recommend improvements to processes through exhaustive assessment and awareness of gaps in current controls Minimum Required Qualifications
                • 12 plus years of experience with FCM operations knowledge of cash and collateral margin settlements
                • Experience managing staff and operational processes
                • Knowledge of FCM operations responsibilities to CCPs and clients
                • Extensive knowledge of CFTC regulations with ability to demonstrate controls adhering to compliance in a daily production environment
                • Understanding of exchange listed derivatives trading and clearing workflows and related controls to alleviate regulatory risk
                • Proficient is SWIFT messaging, custody account management, wire transfers, and account balancing
                • Experience interacting with exam teams and regulators
                • Microsoft Excel (Vlookup, Pivot tables, formals, etc.), Outlook and Power Point Preferred Qualifications:
                  • Experience in client and CCP margin settlement calculation and process
                  • 10+ years of experience assisting or leading projects requiring regular status reporting and meeting strict deadlines
                  • 10+ years of experience in client services, solutions, or relationship building and management -
                  • Project management experience specific to establishing best practices, process improvements, and implementation of operational controls
                  • Experience interacting with outside parties, clients and various lines of business seeking solutions for enhancing control environments
                  • Experience in global markets trade execution and operational systems
                  • Microsoft suite knowledge
                  • FINRA Series 99, 3, or 7 FINRA Registrations Required: CFTC Swap Dealer Associated Person (if yes, NFA Swaps Proficiency Program is required): n/a SEC Security-Based Swap Dealer Associated Person: n/a About Us: We continue to grow and strengthen our commitment to the US market. BNP Paribas' Corporate & Institutional Banking (CIB) platform and Asset Management platform, along with our retail presence through, Bank of the West, provide services to:
                    • Help businesses raise capital in the US and globally by leveraging an international network spanning 68 countries
                    • Offer consistent client service and innovative approaches for investment, hedging and financing opportunities across asset classes and geographies, as well as research and market intelligence to help our clients make strategic decisions
                    • Support local communities by funding projects to improve technology, infrastructure, clean energy, and agriculture
                    • Help women entrepreneurs, start-up organizations, individuals and families reach their goals through savings, community lending, and wealth management
                    • Support our clients transition to a lower carbon economy and an increasingly sustainable business model through forward-looking financing and investing solutions We are one of a few non-US banks to offer a full value chain for our clients, from trading to financing, and clearing and custody in the US with the international footprint and capacity to deliver both globally and locally. Leveraging the strength of our European roots, our network can support clients in virtually every region of the world, enabling more connectivity and efficiency wherever our clients conduct business. BNP Paribas' Corporate & Institutional Banking services corporate clients and institutional investors offering tailored solutions in financing, cash management, and advisory services to companies via Corporate Banking, in capital markets via Global Markets, and in securities custody and administration via Securities Services. BNP Paribas Asset Management is the asset management arm of BNP Paribas and offers high value-added solutions to individual savers, companies, and institutional investors. Bank of the West, our largest affiliate in the US, offers retail banking, wealth, corporate and commercial banking in over 500 branches and offices across the U.S. - We take pride in our expertise and our ability to adapt while constantly looking ahead to create a more sustainable world. BNPP requires all of our employees to be vaccinated in order to access its offices, subject to reasonable accommodations for reasons related to disability or religion. Some weekly physical presence in BNPP's office(s) is an essential function of this position. 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. Primary Location : US-NJ-Jersey City Job Type : Standard / Permanent Job : MISCELLANEOUS Education Level : Bachelor Degree or equivalent (> = 3 years)

Keywords: BNP Paribas S.A., Jersey City , Vice President - Collateral and Margin Settlements Manager, Accounting, Auditing , Jersey City, New Jersey

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