AVP – Network Relationship Manager recruitment
About BNP Paribas:
BNP Paribas (www.bnpparibas.com) is one of the best rated banks in the world*. The Group has a presence in more than 80 countries and more than 200,000 employees, including more than 160,000 in Europe. It ranks highly in its three core activities: Retail Banking, Investment Solutions and Corporate Investment Banking. In Europe, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP Paribas Personal Finance is the leader in consumer lending.
BNP Paribas is rolling out its integrated retail banking model across the Europe-Mediterranean zone and boasts a large network in the western part of the United States. In its Corporate Investment Banking and Investment Solutions activities, BNP Paribas also enjoys top positions in Europe, a strong presence in the Americas and solid and fast-growing businesses in Asia.
*Rated AA- by Standard Poor's.
About BNP Paribas Securities Services:
The BNP Securities Services (BPSS) division of BNP Paribas provides a range of outsource-services related to fund administration and middle office functions for Asset managers and alike. The King of Prussia office concentrates on servicing the alternative investments community including single hedge fund managers and fund of hedge fund managers.
Description:
The network management team manages the relationship with BNP Paribas Securities sub-custodians and cash correspondents for the purpose of BNP Paribas Securities Global Custody offer. Based in the US, the candidate will manage sub-custodian and cash correspondent located in North and South Americas.
The candidate will integrate the Network Management Team - Region Americas. This team is part of the Global Network Management within BNP Paribas's securities service. BNP Paribas Securities offers local and global custody services to institutional investor and financial intermediary.
The Network Relationship Management role is transversal; hence the candidate will have to serve as a market specialist for coverage people, BNP Paribas Securities Services branches, product teams, operational department, legal compliance and credit risk departments. The candidate will play an integral role in the on-going growth of the Network Management in the US.
Responsibilities:
- Ensure the best possible choice of sub-custodians and cash correspondents ('the agents') at the best possible costs through a process of selection, analysis, comparison, recommendation and decision.
- Ensure the smoothest assets migration in case of agent changes by establishing and monitoring a migration guide.
- Contribute to a better knowledge of the organization in terms of securities markets and their evolutions:
- By obtaining, comparing and analyzing the market information received from local suppliers (not exclusively our current agent in the market).
- By drafting and distributing internally market updates as and when relevant and in a timely manner
- By bringing market knowledge to the various concerned parties within the organization.
- Ensure a regular monitoring of the quality of services provided by agents through Services Reviews (with Operations) and Due-Diligence visits; to evaluate the quality of services by answering to industry surveys (Global Custodian) or sub-custodian surveys from time to time.
- Ensure compliance of both BP2S and local markets rules and regulations through adequate contractual arrangements and a strict documentation of accounts opened with agents.
- Contribute to the continuous improvements of the quality of services received from agents, in co-operation with Operations, by negotiating operational solutions with them, adequately documented in Service Level Agreements (SLA's) updated from time to time.
- Contribute to the development of new products and services to clients by monitoring market changes (infrastructures and regulations) and ensuring that adequate internal procedures are in place.
- Assist Operations promptly to settle issues, by ensuring adequate and timely escalation within the agents' organization.
- Ensure that claims introduced by Operations with the sub-custodians are satisfactorily and timely settled and, if needed, ensure that the claims are escalated at adequate levels within the agents' organization.
- Contribute to the reduction of cost by re-negotiating regularly tariffs in place with the agents.
Skills
- BA required, advanced degree considered a plus
- Minimum of 5 years financial industry experience with an operational background in clearing, custody and settlement and a first experience in Network Management
- Strong knowledge in securities business
- Knowledge of US markets, Canadian markets and LATAM markets
- Autonomous and demonstration of initiative
- Pro-active and self-motivated
- Know, understand follow market rules and internal procedures
- Know client specificities
- Understand client needs and expectations
- Communicate efficiently in a professional manner and work as a team
- Well developed written and verbal communicative skills supporting an ability to represent the group at senior levels within the sub-custodians organization
- Well-organized and ability to prioritize tasks