BNP Paribas is a leading bank in Europewith an international reach. It has a presence in 72 countries, with more than202,600 employees, of which almost 155,000 in Europe. The Group has keypositions in its three main activities: Domestic Markets and InternationalFinancial Services (whose retail-banking networks and financial services arecovered by Retail Banking & Services) and Corporate & InstitutionalBanking, which serves two client franchises: corporate clients andinstitutional investors. The Group helps all its clients (individuals,community associations, entrepreneurs, SMEs, corporates and institutionalclients) to realize their projects through solutions spanning financing,investment, savings and protection insurance.
In Europe, the Group has four domesticmarkets (Belgium, France, Italy and Luxembourg) and BNP Paribas PersonalFinance is theEuropeanleader in consumer lending.
BNP Paribas is rolling out its integratedretail-banking model in Mediterranean countries, in Turkey, in Eastern Europeand 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 theAmericas as well as a solid and fast-growing business in Asia-Pacific.
BNP Paribas Securities Services, a wholly-owned subsidiary of the BNPParibas Group, is a leading global custodian and securities services providerbacked by the strength of an integrated bank. It provides multi asset posttrade and asset servicing solutions for institutional participants in theinvestment cycle, from the buy-side and sell-side to corporates and issuers.Covering over 100 markets, offices in 34 countries and over 8,800 employees,the BNP Paribas network is one of the most extensive in the industry. We bringtogether local insight and a global network to enable clients to maximize theirmarket and investment opportunities worldwide.
About BNP SecurityServices-Investment & Fund Services Americas
BNP Security Services (BP2S) missionis to ensure smooth and secure financial transactions for our clients (banks,brokers, institutional investors and corporates) and to protect their assetsacross all markets. Investment & Fund Services provides the service of fundadministration and calculating fund/portfolio performance, fund accounting, calculatingunit redemption values, fund distribution, measuring fund returns, riskmonitoring and performance and regulatory reporting. Our clients are: fundmanagers (including alternative funds), and we operate in all classes -equities, bonds, mutual funds, investment funds, listed derivatives, OTCderivatives and alternative funds and structured products. We are present inover 100 markets worldwide with expertise and familiarity of local regulations,tax and legal implications.
Candidates will be measured on the following four performance driverswhich will dictate how individual impact is considered on the Americasplatform:
- Results and Impact
- Leadership and Collaboration
- Client, Customer and Stakeholder Focus
- Compliance Culture and Conduct
This position will be responsible for processing monthly entriesfor revenue and expense accruals, prepare balance sheet supporting analysis,monitor intercompany balances and cash. The position requires a firmunderstanding of accounting concepts and a good work ethic. Applicant willliaise via phone, email and in person with the finance team, business managersand senior management. In addition, thisapplicant will be involved in aiding in the preparation of management reportsand business financial reviews. Specific responsibilities include:
Client Billing: Liase with operations teams on creation of clientinvoices that are accurate and adhere to the client rate card. Post revenues in general ledger and prepareclient aging of amounts owed.
Corporate Reporting - Working with Montreal & Mumbai teams toensure current recording and reconciliation of the following types of accounts:
Cash Accounts: Prepare reconciliation ofcorporate cash accounts, ensuring proper coding of cash receipts from clients,notification to billing teams of receipts on a weekly basis, and preparation ofLAP loader for cash activity. Prompt investigation and resolution of anysuspense items.
Client receivables: Prepare reconciliation,evaluation and collection of open aged client receivables. Escalate open balanceswith Business, Relationship and Client Service Managers.
IntercompanyReceivables/Payables: Coordinate the payment approval process for any recharge invoicesfor other locations, reconciling billing amount to amounts accrued andbudgeted. Ensure full approval processrespected, Service Level Agreements in place, invoices sent to AP and tracked,and notification sent to Montreal/Mumbai/NY/KOP & Counterparty interestedpersons of payment status
IT and Non-IT Prepaid andAccrued Expenses: Prepare accruals, ensure correct recording of payments, manageentries for certain vendors, coordinate payment
Revenues: Create monthly accruals forIFSO revenues through liaison with Fund Accounting Groups, Lisbon BillingCenter, Client Service Manager for change controls and Business ImplementationManager for new clients and post to LAP accounting system. Coordinate recordingwith Lisbon team.
- For Cayman legal entity: manage accruals for professional fees and employee fees, ensure correct accounting treatment for Corporate Secretarial andRegistered Office business revenues and government payments.
Own the processes related tothis job description and keep improving and documenting updates, includingmaintaining and updating function procedures
Other duties as assigned bymanagement to meet the needs of the current business environment.