Senior Manager
Bank of America Corporation
Hyderabad
40d ago

Job Description : Overview

Overview

  • Bank of America overview, BA Continuum India overview, Business Overview)
  • Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services.

    BA Continuum is a nonbank subsidiary of Bank of America, part of our Global Delivery Center of Expertise in the bank. Our employees help our customers and clients at every stage of their financial lives, helping them connect to what matters most.

    This purpose defines and unites us. Every day, we are focused on delivering value, convenience, expertise and innovation for the individuals, businesses and institutional investors we serve worldwide.

    We are committed to attracting and retaining top talent across the globe to ensure our continued success. Along with taking care of our customers, we want to be the best place for people to work and aim at creating a work environment where all employees have the opportunity to achieve their goals.

    BA Continuum India Pvt. Ltd. supports business process, information technology and knowledge process across Consumer Banking, including Card and Home Loans, Legacy Asset Servicing, Global Banking and Markets, and Global Wealth and Investment Management lines of business at Bank of America.

    Process Overview*

    Global Markets Operations &Middle Office provides operations support to the Global Markets Business of BAML. Key Business activities include back office and middle office operations related to securities, derivatives, futures, options, currencies (FX) and commodities.

    Key functions in the middle office include trade control , product control and balance sheet management . While in the operations groups the key functions are Trade Processing & settlement, Inventory Management, Cash Management, Asset Services, Collateral Management, Reconciliation, Client & Product Data management.

    The QMO or Quantitative Middle Office Team is part of the Global Middle Office (GMO) Team. The Collateral MO team would be responsible for providing support to the CPM business.

    The role of the team would be :

    Job Description*

  • Supporting and enhancing the process to provide P&L / Exposure analysis on our OTC portfolio in respect of its collateral / funding activities.
  • Escalate to Counterparty Portfolio Management (CPM) where required providing necessary explains on the discrepancies or mismatches found.
  • Liaising with multiple stakeholders across geographical regions to resolve issues pertaining to P&L mismatches as a result of pricing deficiencies or collateral optimization issues.
  • To implement solutions to build and streamline business processes.
  • Responsibilities*

  • Daily support and enhancement to the following processesAnalysis of Collateral P&L (expected to actual collateral balance and rate P&L)Analysis of OTC and collateral funding (Expected to actual reporting)Net exposure analysis (funding mismatch)Analyze & explain day on day changes in collateral P&L, query anomalies & resolve with collateral operations team.
  • Ad hoc analysisDaily reconciliation between the FO systems and the Cash booking systems. Raise flags where discrepancies are foundImplementation of new P&L infrastructure for securities sourcing

  • Implement a daily process for repo P&L within the securities funding area of collateral
  • Partner closely with Front Office, Middle Office, Finance, Operations and Technology to define business processes and implement related technology solutions.
  • Risk and issue identification and resolution.
  • As collateral P&L is a new area of involvement for Middle Office, attracting significant attention, communication skills will be heavily utilized through working with the many stakeholders involved with implementation.
  • The candidate must be able to articulate the work carried out and explain its relevance.

  • Team Management Managing a team of 8-10 associates.
  • Education* : -
  • Masters Degree in Finance, Economics or Financial Quantitative Analysis or Engineering Degree from Tier 1 colleges
  • Certifications If Any : - N / A
  • Experience Range* : - -10 years total experience with 4 years of experience in Product Control
  • Mandatory skills* : -
  • Ability to drive changeStrong collaboration and relationship building skillsHigh sense of urgency with ability to drive results.
  • Specific Background (ideal) : OTC Derivatives,Treasury or funding experience
  • Other experience : Demonstrate OTC product knowledgeDemonstrate experience in or around the product control environment.
  • Must have ability to think outside the box and question the status quo, implementing change where required.Must have a strong control focus.

    Ability to drive to closure, reputation for executionStrong Risk assessment, negotiation and problem resolution skillsSolid process definition and documentation skills, with ability to handle diverse workload and tight schedules.

    High level Excel skillsPrevious experience of Finman and / or BUCS would be very helpful.

  • Excellent verbal and written communication / presentation skillsAbility to work across business groups and in a team environmentAbility to interface across various levels within MO, Technology, Operations, Finance and FO.
  • Desired skills* : -
  • Ability to drive changeStrong collaboration and relationship building skillsHigh sense of urgency with ability to drive results.
  • Specific Background (ideal) : OTC Derivatives,Treasury or funding experience
  • Other experience : Demonstrate OTC product knowledgeDemonstrate experience in or around the product control environment.
  • Must have ability to think outside the box and question the status quo, implementing change where required.Must have a strong control focus.

    Ability to drive to closure, reputation for executionStrong Risk assessment, negotiation and problem resolution skillsSolid process definition and documentation skills, with ability to handle diverse workload and tight schedules.

    High level Excel skillsPrevious experience of Finman and / or BUCS would be very helpful.

  • Excellent verbal and written communication / presentation skillsAbility to work across business groups and in a team environmentAbility to interface across various levels within MO, Technology, Operations, Finance and FO.
  • 1 PM - 10 PM

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