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  • 12 - 15 Years
  • Posted : above 1 month

Job Description:

Overview

Bank of America is one of the worlds leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management andWork towards growth and development of all the reporting associates other financial and risk management products and services 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

We are a part of the Global Business Services which delivers technology and operations capabilities to Bank of America lines of business (LOB) and enterprise functions 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 individuals, businesses and institutional investors we serve worldwide

* BA Continuum is a nonbank subsidiary of Bank of America, part of Global Business Services in the bank

Process overview Global Middle Office delivers control functions responsible for providing assurance over data and processes used to record risk, Corporate Treasury and Corporate Investments businesses There are five GMO core functions that are critical in ensuring business process control New Business Development, Trade Capture Substantiation Risk/Position Validation, Event Monitoring, and Front-Back Process Oversight

Job Description Equity Trade Control is part of the Global Middle Office (GMO) Team Primary functions which are performed by the team within this group is Trade review on T1, to identify booking errors and identify risk if any Team also supports task related to life cycle events of Structured Products

Responsibilities

Reconcile the trade bookings (in at-least one asset class) in the trade/risk booking systems with the documents (Confirmation, Pricing Supplement, Term Sheet) & ensure no discrepancies
Ensure trades are booked in appropriate valuation models (including MC Scripts) and the trade payoffs/ valuation parameters are correctly captured in the booking
Identify potential PnL breaks/ settlement breaks due to mis-booking, ensure the amendment of mis-booking & report MTM impact of amendments
Identify, Confirm & Report conservative valuation bookings (overhedges) & approximate bookings for trades
Structured Products
Work on tasks related to life cycle event of Structured Product, Fixed Income, Equity and Derivatives
Perform calculations (Coupon, Maturity) for FICC products and verify the pay-outs
Operational support to Trading Desks/Products including EMTN, Warrants, FX Warrants, Interest Rate Warrants and Certificates across various programs
The role involves liaison with Treasury, internal and external counsel, Issuers, Agents, Clearing Systems and also entails the coordination of several support units ensuring that the business receives a quality one-stop service Identify issues and control gaps in existing infrastructure
Work with technology team to streamline our processes and enhance data integrity and control
Project Management
Accountable for the success of small projects or sections of larger ones
Responsible for the quality and timeliness of all project deliverables and well as the implementation of relevant project management practices (status reporting, issue tracking etc)
Day to day responsibility for managing the project with line, technology and other partners
Managerial Responsibilities
Manage a team of associates of approx 25
Responsible for performance/issues of all the reporting associates

Requirements

Strategic thinker and ability to convert firms long term goals into same who can be creative and innovate
Intense work ethic with history of proven strong delivery
Strong adaptability skills to navigate a large organization to keep the focus on delivering for the business & client whilst minimizing time spent on low value additive activities
Personal effectiveness communication, decisiveness, energy & drive, character & works diligently to achieve success
Strong technical skills to understand the products and business
Strong analytical skills
Knowledge or experience with trading products in capital markets Knowledge of Equity/Fixed Income, intuitive understanding of derivative Pricing, knowledge of Financial Risk Management

Education Post Graduation or an equivalent qualification from a renowned college

Certifications If Any Preferable CFA

Experience Minimum of 10 years of experience in Middle office control functions or Finance Control functions for OTC derivative products (EquityFICC) with a total experience of 12 years

Mandatory skills

Good Understanding of Investment Banking Derivative Products from a Middle Office or Back Office background

Strong communication skills across all levels of seniority especially with the Trading desk

Proven analytical skills including data reconciliation and interpretation

Desired skills Demonstrate good Excel skills (macros, formulas)

Profile Summary:

Employment Type : Full Time
Eligibility : Any Graduate
Industry : Banking
Functional Area : Accounting/Tax/Company Secretary/Audit
Role : Cost Accounting/ ICWA
Salary : As per Industry Standards
Deadline : 15th Mar 2020

Key Skills:

Company Profile:

Company
Bank of Americaarfix

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