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Team Developer

Gurugram, India

Job number: 17079380

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Job description

Job Description:

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*

GBAM Finance Office provides operations support to the Business of BAML. Key Business activities include back office and finance operations related to various products. Key functions in the Finance office include product control and balance sheet management. Our process pertains to Balance Sheet Control & analysis. The Balance Sheet Control team, currently based in the Gurgaon, is responsible for performing certain monthly quality assurance processes. These activities primarily include monthly sampling, testing, reporting and the resultant improvement of general ledger reconciliations and manual general ledger adjustments prepared by GBAM finance business units of the bank.

Job Description*

The Balance Sheet Control team, currently based in the Gurgaon, is responsible for performing certain monthly quality assurance processes. These activities primarily include monthly sampling, testing, reporting and the resultant improvement of general ledger reconciliations and manual general ledger adjustments prepared by GBAM Finance business units of the bank.

The Balance Sheet control conducts its testing based on a sample population of General Ledger entries and reconciliations. The team is looking to expand the scope of the work, and with the various acquisitions of the bank, the population of GL entries requiring testing have significantly increased.  Therefore, these positions are for an existing team, working together with the Chicago & London team, to substantially increase the quantity/sample of accounts and reconciliations. In addition, this process works as an internal control to reduce the Bank’s exposure to financial, operational, & regulatory risk per Bank’s Corporate Policy and ensure the BUs working in banks are compliant with Sox and corporate policy to ensure integrity of the Bank’s financial. From the previous month data, the reconciliation's supporting documentation should be examined in each testing. For each account in the sample, test the reconciliation by discussing with BU Controllers, obtaining and documenting an understanding of the account and reconciliation, including the types of entries that flow through the account, typical reconciling items, etc. Review reconciliations and obtain explanations for any old, unusual or stale-dated items. Select a sample of the reconciling items and trace to its supporting documentation. Associate will then examine, agree and reconcile the G/L balance to the sub ledger. As a final step, the Associate will examine and agree the G/L balance to the bank statement balance and test the entries to determine if the account has been reconciled.

For the sample of manual adjustments, perform the testing procedures on the entries picked by

Examining the adjustments for explanation of the manual entries evidence. Further, trace the details of the adjustments to the appropriate GL system to ensure that the account is properly classified as reconciled, un-reconciled or non-current.

Responsibilities*

The role involves detailed analysis around Balance sheet Account reconciliations. Key requirements includes; perform analysis & review as per Global reconciliations policy guidelines and highlight the associated risk to senior stockholders. Excellent knowledge of Sub-ledger to General ledger flow and basic understanding of financial market products. Role require excellent verbal and written communication skills and effective interpersonal skills to deal with multiple Lines of business across globe. Ability to enhance the efficiency & control in the process workflow. This role involved key risk reporting/MIS to internal & multiple LOB’s in stringent timelines. Post integration new scope of work involves testing of BFO accounts; which is highly critical in nature & more complex.”

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Requirements*

  • Education*

Accounting Degree (preferably Post Graduate in Commerce and finance & accounts)

  • Certifications If Any- Not required

  • Experience Range*

    3 - 5   years of work experience in General Ledger accounting or Auditing experience

  • Mandatory skills*
  • Excellent communication skills, strong attention to detail, have organized approach to handle multiple priorities with multiple stakeholders

  • Desired skills*
  • Experience in overseeing balance-sheet reconciliations or general ledger entries for multiple business units preferred (Experience at capital market product knowledge is good to have)

Work Timings*

0230pm – 1130pm (IST) [Mid UK/US shift]

Location : Gurugram

Posting Date: 07/12/2017

Location:
Gurugram, , JAIPUR HIGHWAY, OLD DELHI,
- India

Full / Part-time: Full time

Hours Per Week: 45

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