Assistant Vice President - Derivative Execution and Clearing Ops
Company: BNP Paribas S.A.
Location: Jersey City
Posted on: January 22, 2023
Job Description:
Job Description - Assistant Vice President - Derivative
Execution and Clearing Ops (COR002737) Assistant Vice President -
Derivative Execution and Clearing Ops ( Job Number: COR002737 )
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 *Physical presence in BNPP's office(s) is an essential
function of this position. -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. This
role will be hybrid, consisting of an in office and remote working
component. The expected starting salary range for this position in
New Jersey is between $92,000 to $110,000 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
to 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:
- Directly interacting with the global client base to manage
their margin, cash, and collateral settlements and inquiries
- Managing Daily Client Margin Activities for an US FCM
- Working knowledge of FCM operations involvement in the life
cycle of execution and clearing activities that result in the
calculation of margin requirements
- Clearly communicates in a group setting, providing a different
point of view in a professional manner
- Consistently delivering exceptional client service to internal
and external clients Minimum Required Qualifications:
- Bachelor degree in business and or finance related focus
- 5 years of experience in listed derivative products, capital
markets trading, FCM operations, and cash/collateral management
-
- 5 years of experience managing staff and overseeing
processes
- knowledge of CFTC and CCP regulations specific to customer
protection rules
- Experience in wiring funds via SWIFT messaging and securities
settlement processing
- Experience interacting with clients and various lines of
business
- Experience reconciling separate data points and sources
Preferred Qualifications:
- Knowledge of the CFTC regulations, NFA, and CCP rulebooks for
FCM clearing operations of settling margin, collateral, and
customer protection regulations
- 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
- Account balancing of various depositories requiring in depth
investigation to resolve related breaks and inquiries -- For
Controls FINRA Registrations Required: -
- Not Applicable CFTC Swap Dealer Associated Person (if yes, NFA
Swaps Proficiency Program is required):
- Not Applicable SEC Security-Based Swap Dealer Associated
Person:
- Not Applicable About BNP Paribas: In the United States, BNP
Paribas has built a strong and diversified presence to support its
client base. We continue to grow and strengthen our commitment to
the US market through our Corporate & Institutional Banking
activities. 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. As the asset
management arm of BNP Paribas, BNP Paribas Asset Management offers
high value-added solutions to individual savers, companies, and
institutional investors. The bank employs nearly 14,000 people and
has a presence in the country since the late 1800s in major cities
including New York, Jersey City, Chesterbrook, PA, San Francisco,
Boston, Chicago, Denver and Washington, DC. BNP Paribas is a
leading bank in Europe with an international reach across the US,
EMEA and APAC. It has a presence in65 countries, with nearly
190,000 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, corporates and institutional clients) to
realize their projects through solutions spanning financing,
investment, savings and protection insurance. We take pride in our
expertise and our ability to adapt while constantly looking ahead
to create a more sustainable world. 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 , Assistant Vice President - Derivative Execution and Clearing Ops, Executive , Jersey City, New Jersey
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