Summer Analyst Internship - BNP Paribas Securities Services (BP2S)
ABOUT BNP PARIBAS
BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 72 countries, with more than 202,600 employees, of which almost 155,000 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 European 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 proven and fast-growing business in Asia-Pacific.
IN A CHANGING WORLD, WE NEVER LOSE SIGHT OF OUR MOST IMPORTANT ASSET
We strongly believe that our early talent is our future: the people that accelerate innovation and provide meaningful impact to both our clients and society. We know it matters who you work with, and that is why BNP Paribas is dedicated to cultivating an environment of knowledge sharing and collaboration. In starting your career here, you will be surrounded with peers and mentors who can help you learn and grow.
BNP Paribas Securities Services (BP2S), a wholly-owned subsidiary of the BNP Paribas Group, is a leading global custodian and securities services provider backed by the strength of a universal bank. It provides integrated solutions for all participants in the investment cycle, from the buy-side and sell-side to corporates and issuers. Our purpose is to safeguard trust in financial markets and protect the wealth of present and future generations.
For Summer 2021, there are two areas of BP2S hiring an intern:
Hedge Fund Services: Fund Accountant
As a Fund Accountant, the individual is responsible for the accounting services provided by BNP Paribas Financial Services, LLC. He/she is responsible for the preparation of the Hedge Fund Valuations, including security valuation, fee computation and accruals, and income allocations and statements to investors. In addition, this individual will be involved in the preparation of the annual audit reports, perform as liaison with auditors and tax preparers for the funds under administration.
- Securities valuation and reconciliation of balances with prime broker
- Calculate and accrue for fund expenses including Management and Performance Fees
- Calculate NAV’s for each Fund
- Prepare the following accounting reports:
- Balance Sheet
- Income Statement
- Statement of Partners or Investors Capital
- Balance Sheet Support
- Performance Returns
- Process share, unit-based, or partnership related accounting in accordance with offering memorandums
- Maintain funds’ books and records
- Ensure correct application of GAAP or IFRS
- Prepare Funds year-end Financial Statements
- Liaise with Auditors and Tax Preparers for Funds
Financial Back Office: CA/Income Summer Analyst
- Scrubbing and processing of voluntary and mandatory corporate action and income events while minimizing risk and liabilities to the firm. Risk oversight includes the ability to understand the correlation between trading and client eligibility and taking proper precautions to mitigate counter-broker liabilities.
- Posting of entitlements, reconciling back office system to the depositories/sub-custodian balance, researching and adjusting cash/position breaks
- Monitoring of g/l firm accounts and daily break reports to ensure timely resolution of all reconciling items.
- Sending liability and claim notices to counterparties
- Ensuring clients receive final notices on uninstructed position balance for voluntary events
- Liaise with business partners to communicate relevant details of events and associated elections in order to mitigate all potential risk and exposure inherent with the processing corporate events.
- Contribute to the growth and development of initiatives focused on creating a more efficient process while reducing risk
SUMMER 2021 INTERNSHIP EXPERIENCE:
- Dedicated Mentor
- Continuous feedback and coaching
- Senior executive sponsor
- Front line tasks
- Training – technical & business skills
- Stretch assignments
Our internships provide a springboard to a possible postgraduate career with us. They are highly competitive and intellectually demanding. To secure a place, you will need a strong academic background, excellent analytical skills, and express yourself positively via a strong sense of initiative and professional demeanor to clients, peers and various levels of management.
- Graduation year of Fall 2021 – Spring 2022
- All majors considered
- Proficiency with Microsoft Office Suite
- Strong excel skills preferred
- Detail oriented with strong analytical and organizational skills vital to work as part of a team in a fast-paced, deadline-driven and high-risk environment
- Excellent interpersonal and communications skills -- Needs to be able to effectively communicate daily with business partners, custodians and other areas of operations.
- Critical thinking
- Sound judgment and integrity
- Keen interest in accounting and financial markets
- Quick learner with a positive attitude, able to work efficiently under pressure while meeting deadlines
- High level of customer service and communication skills (written and oral)
- Ability to be resourceful and work independently while keeping focus an all group strategic initiatives
- Able to multi-task and interact with different client bases simultaneously.
- Excellent follow up and reconciliation skills
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.