Job Description:

About Us

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.

Being a Great Place to Work and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates physical, emotional, and financial wellness through affordable, competitive and flexible benefits.

We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve.

Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs.

At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

Global Business Services

Global Business Services delivers Technology and Operations capabilities to Lines of Business and Staff Support Functions of Bank of America through a centrally managed, globally integrated delivery model and globally resilient operations.

Global Business Services is recognized for flawless execution, sound risk management, operational resiliency, operational excellence and innovation.

In India, we are present in five locations and operate as BA Continuum India Private Limited (BACI), a non-banking subsidiary of Bank of America Corporation and the operating company for India operations of Global Business Services.

Process Overview

The role acts as a control function for Equity Derivatives traded by our equities desks. The Teams primary responsibility is to ensure risk is captured accurately in the system of records. The role also involves acting as a central point of contact for queries from Traders, Trade Support, Finance and other Operation groups. Understanding the trade booking and trade amendments, analyze and review the Trades (Vanilla & Exotic) which are cancelled or edited/corrected.

The candidate will have regular interaction with the Front Office and be expected to assist with trader related queries in a timely manner despite the highly pressured environment.

Job Description

Understand how the trades for various assets classes have been booked on the BAML models
It is essential that potential candidates have a high level of attention to detail and a good grasp of the Domain understanding to review the conditions set out in the booking tool. The candidate will need be aware of different, potential scenarios that a trade is cancelled or edited or missing feed
Understand trade flow from front to back perspective
The candidate will need to understand how the trade is being risk managed and to review the booking within the context of BAML booking policies. This will form part of monitoring and control process.
Good Understanding of Accounting Principle and PnL Balance sheet adjustments

Responsibilities

Performing BAU T+1 and SD+1 Front to Back Reconciliations.
Work closely with Front Office, Trade Support, Finance and other Operation Groups to resolve breaks
Performing daily MIs and KRIs
Break reporting and governance
Month-end reconciliation between Subledger and General Ledger
Research and resolution of breaks in multiple reconciliation
Escalate aged breaks across various recons performed in Equities to Senior Management.
Maintenance of various recon processes performed in EMEA and AMRS.
Accounting sign-offs for accounts under ownership by substantiating subledger and general ledger balances.
Become proficient in the reconciliation process and the different system flows
Analyzing why trades are not matched in the recon tool on a T+1 or VD+1 basis
Liaising with internal stakeholders and external client to remediate root causes
Change mind-set, leading and delivering upon change initiatives within the context of the reconciliation function
Partner with the other regional teams to help move this team into a true global service model
Pro-actively challenge the status quo, identify and drive change to improve upon the current model

Requirements

Education – Graduate and Preferably MBA with Finance Background
Certification If any - Any Finance related certifications
Experience Range – Experience in a middle office support functions or operations function for derivative products with a total experience of 5+ years

Foundation Skills

Hands on understanding of Global Markets/Investment Banking business and basic knowledge of derivatives Products, Trade Life cycle events
Strong analytical skills, mathematical ability, verbal, and written communication skills
Attention for detail and must be quick learner to adapt to new systems/procedural change

Desired skills:

Hands on understanding of Process Controls, Risk in Global Markets, Regulations
Strong understanding of all asset classes, product line, Fixed Income and Equity products
Hands on understanding of MS Office applications
Learning agility, self-driven and ability to work under pressure and in complex environment

Work Timings: 13:30 to 22:30 IST (UK Shift)

Job Location: Chennai

Assistant Manager- Regulated