Assistant Vice President- Margins and Collateral Management

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Job description

About BNP Paribas:

BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 72 countries, with more than 202,600 employees, of which almost 155,000 in Europe. The Group has key positions in its three main activities: Domestic Markets and International Financial Services (whose retail-banking networks and financial services are covered by Retail Banking & Services) and Corporate & Institutional Banking, which serves two client franchises: corporate clients and institutional investors. The Group 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.

In Europe, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP Paribas Personal Finance is the European leader in consumer lending.

BNP Paribas is rolling out its integrated retail-banking model in Mediterranean countries, in Turkey, in Eastern Europe and a large network in the western part of the United States. In its Corporate & Institutional Banking and International Financial Services activities, BNP Paribas also enjoys top positions in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific.

Business Overview:

Within Client Management, the Due Diligence Monitoring and Controls team's objective is to monitor, control, and manage Due Diligence's key operational processes to ensure proper functioning of the team and visibility for senior management. This includes Quality Control checks, controls, and reporting on New Clients, Recertification, and Non-legal Entities across CIB Business Lines.

The Due Diligence and Controls team is based in New York and Jersey City and reports to the Head of Due Diligence Monitoring and Controls.

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
• Leadership and Collaboration
• Client, Customer and Stakeholder Focus
• Compliance Culture and Conduct

Business Overview:

The Margins and Collateral Management 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. Margins and Collateral Management is mainly responsible for calculation of various central counter party and client daily margin requirements. In addition this team manages all cash and collateral settlements operating on strict regulations that are monitored for regularly to ensure compliance. The team has direct contact with the global client base and all supporting entities that take part in supporting the daily production demand and opportunities to enhance the client experience.

Responsibilities:

• Direct client communication and interaction
• Cash wire initiation and settlement
• Securities movements
• Collateral optimization
• Interest calculations and booking
• Cash and collateral reconciliations
• Break investigations
• Referential data entry
• Regulatory financial reporting
• Client and business inquiry research, investigation, and issue resolution
• Account setup review and implementation utilizing various operational systems
• Informational and instructional presentations

Minimum Required Qualifications:

• Bachelor or Master's degree
• 5 years of experience with exchange listed products, derivatives, capital markets trading, clearing operations, accounting, finance, or securities settlement processing
• 3 years of experience managing client accounts, funds, and or collateral movements
• 3 years of experience in client services, solutions, or relationship building
• Experience interacting directly with clients and various lines of business regularly
• Microsoft Product Suite

Preferred Qualifications:

• Experience in Futures Commission Merchant clearing and operations
• CFTC regulations knowledge
• Knowledge of SWIFT and industry wire transfer systems
• Experience managing custody account settlements
• Understands trade lifecycle of listed products

FINRA Registrations Required:

• Not Applicable

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)

Experience Level: At least 5 years

• Schedule: Full-time