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Assistant Manager

Gurugram, India

Job number: 18012233

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Job Description:

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’re 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


Global Markets Operations &Middle Office provides operations support to the Global Markets Business of BOAML. Key Business activities include back office and middle office operations related to securities, derivatives, futures, options, currencies (fx) and commodities. Key functions include Trade Processing & settlement, Inventory Management, Cash Management, Asset Services, Collateral Management, Reconciliation, Client & Product Data

Job Description:

Global Middle Office Generally:

Global Middle Office delivers control functions responsible for providing assurance over data and processes used to record risk, P/L, balance sheet and financial results in support of Global Markets, Corporate Treasury and Corporate Investments businesses. There are seven GMO core functions that are critical in ensuring business process control:  New Business Development, Trade Capture Substantiation, P&L Validation, Risk/Position Validation, Balance Sheet Substantiation, Event Monitoring, and Front-Back Process Oversight.

Job Description:

Provides technical systems and software support for modification, implementation, or conversion of business systems. Translates business needs into technical requirements and ensures all systems support and conform to business needs and specifications. Acts as liaison between business unit and software, hardware developers and vendors. Competent to work under supervision on simpler applications coding from documented logic. Limited systems analysis responsibility. Limited knowledge of business or function for which application or system is designed. Degree preferred or substantially equivalent experience. Typically an entry level position.

Job Responsibilities :

  • Reconciling Global Markets portfolios on a daily basis for large P/L swings and MV breaks in Finance and Risk systems.
  • Researching daily valuation breaks for all OTC products.
  • Identify reasons for reconciling differences, including root cause analysis of process defects.
  • Draft and submit large break report with VaR impact assessment and determine if Risk Re-statement is required
  • Complete attestation reports for all covered positions.
  • Work with technology to enhance automated reconciliation runs to address known issues.

Job Requirements :                        

  • Masters Degree in Finance, Economics or Financial Quantitative Analysis
  • Strong knowledge of market & credit risk; knowledge of Counterparty Credit Risk, CVA and Basel III/ RWA of  the OTC derivatives is also preferred.
  • Past experience with OTC Derivatives market( CSA Netting, ISDA, CCPs etc)
  • Strong technical skills including experience using MS Office, SQL, Visual Basic, Python would be a plus; Experience handling large amount of data
  • Excellent communication skills analytical skills
  • Knowledge or experience with trading products in capital markets: Knowledge of: Fixed Income Modeling. Pricing derivative products like Futures, Options, Indexes, CDS, CDO, FRAs, SWAPs, SWAPTIONs, CAPs/FLOORs. Knowledge of Financial Risk Management: Credit Risk Model, Value at Risk. Knowledge of Interest Rates, Credit spreads, bond pricing, etc.
  • exp - 2-5 yrs

Location - Gurgaon

Timings - 12:30 pm - 9:30 pm

Posting Date: 08/03/2018

- India

Full / Part-time: Full time

Hours Per Week: 45

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