Product Accounting Analyst

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, corporate 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.

Business Overview:

The Hispanic Latin America region is a key market for BNP Paribas. While Brazil remains the largest economy in Latin America, other major countries in the region are also significant contributors for the business and for long standing relations with clients. For example, BNP Paribas has been uninterruptedly present in Colombia for more than 40 years.

BNP Paribas has a historical footprint in the Hispanic Latin America. The Bank has been in the region since 1914 and is now present in 5 countries with nearly 2000 employees between Corporate and Institutional Banking (CIB) and International Financial Services.

CIB in Hispanic Latin America has world-class teams of roughly 200 professionals spread among Colombia, Mexico, Chile, Peru and Argentina, thus ensuring an overall coverage of BNP Paribas’ client franchise in the region. All BNP Paribas’ business lines have operations in Hispanic Latin America and are structured in such a way as to provide their clients with the best combination of specialists according to sector, product or geographic region. In the context of growing globalization, they are able to accommodate their clients thanks to their powerful regional platforms:

• In North America (essentially New York but also other hubs such as Houston and San Francisco) and Brazil (Sao Paulo) with a number of professionals covering Latin America.
• In the whole of Europe with major hubs such as Paris, London, Frankfurt, Madrid, etc.
• In Asia with a broad coverage of all major economies in the region.

In Colombia, BNP Paribas has presence through 5 entities representing the Group: the Rep. Office, the Corporación Financiera and a Trust company for the Corporate and Institutional Banking pole. As for International Financing Services, an insurance company (Cardif) and a Rep Office for Asset Management Services.  BNP Paribas is the European bank with the longest uninterrupted presence in the country.  

Job Purpose: 

The Product Accounting Analyst is responsible for the accurate and timely analysis, reporting, and reconciliation of the organization’s financial products within its product portfolio. This role plays a key part in ensuring compliance with accounting standards and regulatory requirements.

Goals

1.      To maintain accurate records and perform detailed analysis of the financial products within the organization’s portfolio.

2.      To contribute to the development and implementation of system product through comprehensive financial analysis.

3.      To ensure compliance with accounting standards, financial regulations, and internal policies.

4.      To provide stakeholders with reliable financial information 

Duties and Responsibilities

1.      Carry out tests corresponding to Finance of new products or new activities in which the Bank enters

2.      Conduct detailed analyses of financial products, including, bonds, loans and other investment vehicles, to assess their performance and risk profiles.

3.      Prepare and present regular financial reports on portfolio performance and market trends.

4.      Collaborate with the business lines team to develop and refine strategies based on financial analyses.

5.      Ensure accurate accounting and reporting of investment and loans transactions in compliance with GAAP (Generally Accepted Accounting Principles) and other applicable financial regulations.

6.      Reconcile product accounts to ensure accuracy of the financial information in the BNP’s financial system.

7.      Monitor changes in financial regulations and accounting standards to ensure ongoing compliance.

8.      Assist in the preparation of financial statements and footnotes related to the products and Head Office reports.

9.      Provide support for external audits by preparing required documentation and responding to auditors’ inquiries.

Qualifications 

1.      Bachelor’s degree in Accounting, Finance, or a related field.

2.      Minimum of 5 years of experience in accounting or financial analysis, with a focus on financial products.

3.      Strong understanding of financial markets, investment and loans, and accounting principles.

4.      Proficiency in financial modeling and analysis tools, as well as accounting software.

5.      Excellent analytical, organizational, and communication skills.

6.      Detail-oriented with a commitment to accuracy and timeliness.

Interactions

Internal

·       Finance Team

·       Operations Team

·       Legal

·       Business Lines

·       Fresh Team                        

External

·       Financial Superintendence of Colombia – SFC

·       External Auditors (Statutory Auditor)

Decisions

·       Provide input to give the sign off software implementation related with accounting products and regulations.

Training

Trainings need to be taken are according to the entity policy (BNPP)

·       Mandatory trainings (as indicated by compliance, Legal, Region and Group)

·       Mandatory Corporate trainings in soft skills or BNPP competencies for all new hires (as indicated by HR).