Middle Office Corporate Actions & Index Tracking Specialist
- New York, NY, USA
- Full time, Permanent
- BNP Paribas
- 15 Jan 18
This role will support both corporate actions and index tracking, communicating with the front office when corporate actions are announced, forecasting corporate actions and impact, creating index simulations for trading, and other responsibilities. The person will need middle office trade support experience and either corporate actions OR index experience.
About BNP Paribas:
BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 74 countries, with more than 192,000 employees, including more than 146,000 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 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.
BNP PARIBAS, one of the major banks in Europe with a strong presence throughout the world, is a leader in Global Equities & Commodity Derivatives. As part of this activity, the Middle-Office is an important component, with teams established in the major financial places (New-York, London, Tokyo, Hong-Kong and Paris). The main missions of these teams are:
- The management of operations in the booking systems,
- The follow-up of client billing and reporting,
- The reconciliation of positions between FO and booking systems,
- The calculation, explanation and analysis of the daily profits and losses including reconciliation with Financial accounting results,
- The management of the referential data,
- The management of relationships with Back-Office and Custodians,
- The management of Corporate Action events and advice to FO teams.
These missions are accomplished through a close relationship with Back-Offices, Traders, Sales, IT and Business Analysts.
In this context, the GECD Corporate Actions and Index Tracking is a key component of New York GECD Middle Office Trade Support (55 persons). The team covers all the activities related to Global Equity business in North America as related to corporate actions and index tracking, which includes Equity and Commodity Derivatives, both Flow and Exotics, whether in Proprietary Trading, Agency or Prime Brokerage roles.
The role will encompass daily corporate action, and index tracking responsibilities and the successful candidate will need to fully understand and explain corporate action workflows, and US index composition and rebalancing. The individual will be required to establish effective working relationships with both Front-Office and other areas of support. (i.e., Market Risk, Finance & IT) - allowing for an integrated and proactive approach to the business’ requirements, understanding the lifecycles of the products traded and the systems and reporting mechanisms required to enable full control and accurate and appropriate information to be supplied.
Within the functions support of capital markets, Middle-Office Referential/CAIT insures the management of:
- Manage equity indices in firm's internal systems for trading.
- Create index simulations for trading when index providers announce corporate actions.
- Work with IT to develop index composition upload scripts to automate index constituents uploads into BNPP systems.
- Forecast trading impact due to corporate actions on constituents of BNPP licensed indices.
- Alert Front Office Trading teams of all current and forecasted corporate actions.
- Process all corporate actions in the Booking Systems.
- Liaise between front office and back office of voluntary corporate actions elections by front office.
- Coordinate meetings with front office and back office to explain details and impact of major/complex corporate actions.
- Maintain (update, reconcile, and ensure consistency) cash dividends in all BNPP booking systems.
- Manage projects designed to improve daily trading operations.
- Answer and fulfill all requests by clients (front office and middle office).
- Direct contribution to BNP Paribas operational permanent control framework.
Minimum Required Qualifications:
- Strong academic background required - undergraduate degree in Finance
- At least 3 years of relevant financial industry and product experience
- Deep understanding of index methodology - simulating monthly/quarterly rebalances, corporate action reshuffles, dividend reinvestments, price adjustments.
- Deep understanding of North and South American equity markets, particularly as related to corporate actions and dividends.
- Strong interpersonal and communication skills and effective listener
- A successful candidate will need to demonstrate strong desire to learn and grow in GECD Middle-Office.
- Attention to detail and accuracy imperative
- The successful candidate will need to demonstrate a strong desire to learn the processes and products
- Flexibility to adapt to a new and changing environment
- Strong sense of risk and critical thinking
- Graduate degree a plus
- Strong Excel/PC skills with proven ability to work with multiple systems
- Ability to multi-task and prioritize in a fast paced environment
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.