Settlements Officer - Forex and Money Markets
BNP Paribas is a leading European bank with an international reach. It has a presence in 72 countries, with more than 202,000 Employees – including more than 154,000 in Europe and over 5,000 in Portugal alone.
BNP Paribas is present in Portugal since 1985, having been one of the first foreign banks to operate in the country. Today, BNP Paribas has several entities operating directly in this territory, offering a wide range of integrated financial solutions to support its clients and their businesses.
Worldwide, 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, corporate and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance.
The Forex and Money Market (FXMM) Settlement team is part of the Settlement Department of Global Markets Operations. This team is in charge of the settlement of all Foreign Exchange, Precious Metal and Money Market transactions done under BNPP Paris and BNPP London entities by the Global Markets and Asset and Liability Management (ALM) & Treasury Businesses.
This settlement team leveraging on its centre of expertise is also servicing other BNPP Group entities such as BNP Paribas Securities Services, FINAMS, Personal Finance, Opera… for the settlement of their Forex and/or Money Market trades.
Our main clients are international Corporates (major corporations & medium-sized companies) and Financial Institutions (general and specialised international Banks including Central Banks, pension funds, fund managers, insurance companies and supranational entities).
The Settlement team’s primary function is to ensure that settlements of all transactions booked by Trading and Sales desks through the Front Office systems are paid in accordance with BNPP Procedures and in due time.
Role And Responsibilities
- Make sure non Straight Through Processing (STP) events are properly managed within the Operations system and ensure deals are flowing within Operations system with no delay
- Make sure payments (bilateral, netted…), advices of receipt are processed once deals are matched, pre-matched or once cash flow/netting has been confirmed/reconciled with counterparties
- Make sure payments are done before cut-off taking into account each currency specificity, and ensure no payment incident occurs
- Manage specific processes regarding settlement Instructions when required (on non STP, urgent payment, coordination with referential teams for Standard Settlement Instructions…)
- Responsible for the full payment netting process including set up (agreeing netting conditions with counterparts including legal documentation, promote BNPP Internal Netting digital tool…) and day to day validation process
- Make sure settlements are done according to Risk and Compliance Group guidelines/requirements including embargoes/sanctions alert management, specific Risk procedures to reduce settlement risk…
- Make sure treasury announcements are sent to Treasury Forecasting team allowing BNPP Treasury to manage Nostro accounts liquidity
- Resolving queries and exceptions in relation with relevant departments, understanding the importance of effective escalation
- Responsible on a daily for reporting the status of controls and remaining operational risk on the scope of responsibility
- Daily liaison with counterparts on discrepancies and assisting them to meet their needs regarding payments
- Analyse & Manage payments incidents in coordination with payment investigation teams
- Active participation to the “team life” (formalisation of team procedure, training, coaching new staff, contribution to improve team efficiency, operational process or IT functionality…)
- Degree in Finance
- Fluent in English (both oral and written communication)
- Banking experience with an emphasis in Payments and Operations management
- Knowledge of Banking Payment Environment (Correspondent banking, Swift payment network…)
- Knowledge of Foreign Exchange and Money Markets products
- Strong Excel Skills
- Controls oriented profile, ability to manage operational risks
- Ability to prioritize workloads and use a proactive approach to meet deadlines
- Excellent communication and interpersonal skills, team spirit and client focus
Please note that only applications submitted in English will be considered.
In case you are selected for this role, further documentation will be requested to support your hiring process.
BNP Paribas is an equal opportunity employer and proud to provide equal employment opportunity to all job seekers. We are actively committed to ensuring that no individual is discriminated against on the grounds of age, disability, gender reassignment, marriage or civil partnership status, pregnancy and maternity, race, religion or belief, sex or sexual orientation. Equity and diversity are at the core of our recruitment policy because we believe that they foster creativity and efficiency which in turn increase performance and productivity. We strive to reflect the society we live in, while keeping with the image of our clients.
Standard / Permanent
Master Degree or equivalent (> 4 years)
Attention to detail / rigor, Resilience, Critical thinking, Client focused
Job Number: 1904GMOCM2564