Associate - Clearing & Custody Services (Global Custody)

Job Description

Position Purpose

Global Custody team in BNP Paribas Securities Services are segregated into Corporate Actions, Income, and Tax for operational efficiency and accuracy. Global Custody Corporate action team handles the processing of Corporate action events to the client with accuracy.

Responsibilities

Direct Responsibilities 

• Cross-checking information received with other data sources
• Reverting to local sub-custodians to clarify/solve any open issue.
• Analyzing the corporate event in order to anticipate any reporting or processing issues.
• Setting-up of financial information into the Custody system
• Collecting and relay any updates related to the corporate event on an ongoing basis.
• Processing the securities reconciliation with sub-custodians client positions at the different steps of the event.
• Checking eligible positions of  accounts within the local sub-custodian
• Checking that all eligible positions have been instructed at response deadline (for voluntary events only)
• Consolidating client instructions (for voluntary events only)
• Checking that instructions of participation have been duly acknowledged by the sub-custodian.
• Tracking of the payment date of the event in order to advise clients accordingly
• Processing payment of the event on the client’s account upon recovery of cash and/or securities from the local sub-custodian
• Justifying any cash or securities breaks to Control Teams
• Participate in Brain Storming Sessions and share the best practices and ideas with the peer groups and team members.

Technical & Behavioral Competencies

• Fair knowledge in corporate actions and income-related events for various instrument types                                                                                                                  
• Expertise in Using Banking Software & overall awareness of using MS Word, Excel, PowerPoint, etc.
• Able to clearly understand and envisage the SWIFT messages (MT564, MT565, MT567, MT568, MT599, etc). The Associate should read through the SWIFT message very comfortably and act on the amendments in the message ( Field - 23C: NEWM / REPL / CANC/ REVR etc)
• Able to set up CA events for the respective teams by analyzing and understanding the SWIFT messages without any error and high standards.
• Fair understanding of the usage and implications of the Applications like NCS, Sunrise, Reflections, Intellimatch, MIDAS, and ISISET and apply it in daily BAU when required.
• Should be well versed in corporate actions eligibility rules and analyze whether the particular client/trade is eligible for the CA.
• Should be able to perform the Entitlement and Eligibility reconciliation to forecast the entitlements.
• Should be well versed with the Reflections especially with the functions like CMP, CCV, CCA, CTAK, CVVC, etc
• Highly motivated and self-driven to meet the management objectives.

 Behavioral Skills

• Ability to collaborate / Teamwork
• Attention to detail / rigor
• Communication skills - oral & written.
• Adaptability.

Transversal Skills

• Ability to understand, explain and support change
• Analytical Ability
• Ability to manage a project

Education Level: Bachelor Degree or equivalent

Experience Level: Beginner