Senior Associate, Fund Accounting – NAV

About BNP Paribas India Solutions:

Established in 2005, BNP Paribas India Solutions is a wholly owned subsidiary of BNP Paribas SA, European Union’s leading bank with an international reach. With delivery centers located in Bengaluru, Chennai and Mumbai, we are a 24×7 global delivery center. India Solutions services three business lines: Corporate and Institutional Banking, Investment Solutions and Retail Banking for BNP Paribas across the Group. Driving innovation and growth, we are harnessing the potential of over 10000 employees, to provide support and develop best-in-class solutions.

About BNP Paribas Group:

 BNP Paribas is the European Union’s leading bank and key player in international banking. It operates in 65 countries and has nearly 185,000 employees, including more than 145,000 in Europe. The Group has key positions in its three main fields of activity: Commercial, Personal Banking & Services for the Group’s commercial & personal banking and several specialised 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, 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, BNP Paribas has four domestic markets: Belgium, France, Italy, and Luxembourg. The Group is rolling out its integrated commercial & personal banking model across several Mediterranean countries, Turkey, and Eastern Europe. As a key player in international banking, the Group has leading platforms and business lines in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific. BNP Paribas has implemented a Corporate Social Responsibility approach in all its activities, enabling it to contribute to the construction of a sustainable future, while ensuring the Group’s performance and stability

Commitment to Diversity and Inclusion

At BNP Paribas, we passionately embrace diversity and are committed to fostering an inclusive workplace where all employees are valued, respected and can bring their authentic selves to work. We prohibit Discrimination and Harassment of any kind and our policies promote equal employment opportunity for all employees and applicants, irrespective of, but not limited to their gender, gender identity, sex, sexual orientation, ethnicity, race, colour, national origin, age, religion, social status, mental or physical disabilities, veteran status etc. As a global Bank, we truly believe that inclusion and diversity of our teams is key to our success in serving our clients and the communities we operate in.

About Business line/Function:

Team performs Fund Accounting for various clients across several locations with 24 x5 coverage. The process includes Transactions input, Reconciliation, Fund valuation, Cash processing, Reporting & Transfer Agency with intraday deadlines. Accurate and timely reporting of NAV to the end client is the key objective of the team.

Job Description – APAC

Job Title:

SENIOR ASSOCIATE – FUND ACCOUNTING – NAV

Date:

 2024

Department:

FUND ACCOUTING – RECONCILIATIONS      

Location:

Business Line / Function:

INVESTMENT AND FUND SERVICES OPERATIONS

Reports to:

(Direct)

ASSISTANT MANAGER LEAD/MANAGER

Grade: 

(if applicable)

NA

(Functional)

Number of Direct Reports:

NA

Directorship / Registration:

NA

Position Purpose

This role is an SME position that requires compulsory formal education with excellent communication skills. In this position, a senior associate performs the role of a full time checker/reviewer also contributing towards processing of reconciliations. Role is to review thoroughly the reconciliations done between bank/out of bank assets Vs ledger accounts by the processor and check if the necessary back-up has been saved correctly for further assimilation to stakeholders. A senior associate will also contribute by bringing in the fresh ideas from previous work experience to the table in this fast changing environment.

Responsibilities

Direct Responsibilities

• Strive to become a SME (Subject Matter Expert) of the process by acquiring complete knowledge of reconciliations processing across all funds & instruments types.
• Should be able to perform complex reconciliations independently.
• Should be able to perform review function.
• For review function, ensure all breaks are justified and commented correctly, all delays and errors are captured on the tracker. Also, ensure that the reconciliations are closed on reconciliation tool and sign-off is sent to the NAV teams. 
• To chase relevant parties for all long pending breaks on a periodic basis. Escalate to manager in case break not resolved despite constant chasers.

–  Ensure reconciliations are completed for each NAV calculation.

–  Completeness of reconciliations includes:

–  Funds reconciled are delivered on time.

–  Delay reasons are updated correctly.

–  Processor and reviewer time updated on tracker.

–  Sign-off sent to the NAV teams based on cut-off agreed.

–  Archival of packs done on a daily basis for reconcilitions performed manually. (specific to derivatives reconciliations)

• Ensure to adhere quality SLA of 99% & above while performing reconciliations.
• Ensure to adhere timeliness SLA of 95% & above while performing reconciliations.
• There should be no comebacks from NAV teams on the reconciliations performed by self and team. 
• There should be no incidents logged on reconciliations performed by self and team.
• Be proactive in resolving queries and escalate immediately to the manager on any issues/queries/escalations.

Contributing Responsibilities

• Be proactive in resolving queries of team members and escalate immediately to the supervisor on any issues/queries/escalations.
• Ensure to complete ad-hoc duties which may arise from time to time, mainly on month ends, year-ends and system down-time scenarios.
• Effectively monitor the respective group mail box and respond efficiently to the queries.
• Co-ordinate audit and ORC requests and ensure that it is completed on time.
• Provide AM / AM Leads timely feedback on staff performance by producing timeliness and errors details.
• Provide necessary training (process + product related) to the team members.
• Required to plan leaves in advance as per GSO policies and keep a tab on unplanned leaves for self and the team.

Technical & Behavioral Competencies

¡ Thorough understanding of all Capital market, Financial Instruments, Investment baking processes and advanced accounting skills .

¡ Excellent verbal and written communication.

¡ Strong analytical skills, detail orientation, service commitment, solid organizational and interpersonal skills. 

¡ Ability to work independently, as well as in a team environment, prioritizes multiple tasks and meets strict deadlines. 

¡ Proficient in Microsoft Office Applications. Strong MS Excel, MS Word, MS PowerPoint skills required. 

¡ Should be self-motivated and energetic.

¡ Should be able to train staff.

¡ Candidates should be willing and flexible to work in any shifts.

Specific Qualifications (if required)

¡  Graduate/Post Graduate (preferably in finance).

¡  Candidates should have relevant Fund accounting reconciliations or NAV experience.

¡  Working knowledge on Intellimatch tool an advantage (Specific for Paris/Spain recon process).

Skills Referential                                                             

Behavioural Skills: 

Ability to share / pass on knowledge

Ability to collaborate / Teamwork

Communication skills – oral & written

Creativity & Innovation / Problem solving

Transversal Skills: 

Ability to understand, explain and support change

Analytical Ability

Ability to develop and adapt a process 

Ability to manage / facilitate a meeting, seminar, committee, training…

Choose an item.

Education Level: 

 Bachelor Degree or equivalent

Experience Level

At least 3 years

Other/Specific Qualifications (if required)

Should be flexible to travel for migration (within / outside India).