Bank of America is one of the world’s leading 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. 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.
- This process is part of Asia FX Trade Support in India Middle Office.
- Product scope in general is: FX Spot, FX Forward, FX Options, FX Swaps, Non-Deliverable Forward (NDFs).
- Key business partners include Front Office – Traders / Sales, Finance, Operations, Risk, Tech, Middle Office, Collateral, etc. Associate is required to proactively interact with business partners to resolve front-to-back trade, P&L, risk and trade life cycle event management issues.
- This position reports to the Manager of Asia FX Trade Support in India Middle Office.
- Key responsibilities will include, but are not limited to:
- FX Spot/Forward/Swap/NDF Trade Support:
- Handling full end-to-end workflow (there are no Asia locations handling FX Trade Support).
- Supporting APAC Local Currency Trading (LCT) FX, G10 FX, and Rates businesses executing FX trades.
- Primary jurisdictions for support include: Hong Kong, Singapore, Tokyo and Sydney; secondary jurisdictions for support include London & NY.
- Helping identify, escalate and debug issues with the FX Trade Support workflow.
- Executing FX trade amendments on T+1.
- Certain trade event management such as NDF fixings.
- Certain bookings to help capture FX risks / exposures properly in the Front End due to short-term infrastructure limitations.
- Review of exception and audit trail reports.
- Ensuring risk outages are corrected.
- Maintaining certain controls over wash / intermediation books.
- Validation in the context of Real Time Reporting requirements under Dodd-Frank.
- EOD Report reviews to ensure all trades processed.
- Production of certain ad-hoc reports required in particular jurisdictions – some of which may be for regulatory purposes.
- Maintaining and reporting MIS / metrics for key processes.
- Certain static data maintenance within the FO system.
- Coordinate & execute various ad-hoc requests given strong focus on growing Asia FX platform/business as well as rapidly changing regulatory environment.
- Heavy partnership with sister FX Trade Support team in Chester/London, UK.
- Extensive involvement with MO tactical and strategic change initiatives impacting the workflow. Examples:
- System migrations / upgrades.
- Legal entity migrations (e.g. MLIB to MLI).
- Regulatory changes / projects (e.g. NDF Clearing).
- NPRs (New Product Reviews).
- FX Option Trade Support:
- Altair Static Setup.
- Review of EOD reports to ensure all trades expired/exercised.
Education: MBA or Master’s degree preferred.
Experience Range - 5 to 8 years
- Experience in Middle Office FX Trade Support with background of being hands-on with the actual process.
- Needs to be able to fluidly understand the front-to-back flow and mechanical aspects of the work.
- Good knowledge of FX products including FX spot, FX forward, FX options, FX Swaps and NDFs.
- Strong communication skills across all levels of seniority especially with the Trading desks in both verbal & written form.
- Ability to work autonomously and deliver timely error-free results in a high pressure environment.
- Logical approach to problem solving and ability to prioritize multiple tasks.
- Proven analytical skills.
- Good system skills with specific ability to learn front-end platforms.
- Strong attention to detail and accuracy.
- Good project management skills with ability to multi-task effectively.
- Ability to identify and deliver process improvements.
- Above average Excel skills.
- Bachelor’s degree requirement ideally in an analytic field such as Finance/Accounting, Economics or Mathematics.
- Ability to navigate Reuters and Bloomberg effectively.
- Skill to analyze and assess requirements for New Product Reviews and other systemic change and how it will impact the team & workflow in a proactive rather than reactive manner.
- Reasonable understanding of current Asia regulatory environment.
- Reliability; good leadership skills to set an example for the team.
- Intense work ethic with history of proven strong delivery.
- Strategic thinker who can be creative and innovate.
- 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 hard and intelligently to achieve success
- Additional background & knowledge in Fixed Income products (e.g. bonds, interest rate swaps, and futures) would be helpful but not explicitly required for the role.
- VBA / macro skills are preferred but not required
- 05:30am & 06:30-am IST
- Open to work with global stakeholders outside of usual hours, when required
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