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.
The Asset Services Processing team will be responsible for the following:
- Processing Principal and Interest income for US clients for MLPFS/BofAS/ GCAS US / BAS /BANA entities
- Dividend processing for MLPFS/BofAS/ GCAS US / BAS /BANA entities
- Redemptions processing for MLPFS/BofAS/ GCAS US / BAS /BANA entities
- Mandatory Corporate Actions for MLPFS/BofAS/ GCAS US / BAS /BANA entities
- Reconciliation of Cash breaks, stock breaks and other corporate action related breaks
- Investigation and Resolution of client queries on a timely basis
- Daily Processing of P&I, dividends or mandatory corporate action payments in an accurate, timely and consistent manner, in accordance with departmental procedures and to the agreed service levels.
- Resolution of any processing issues and liaison with other areas of Bank of America Merrill Lynch including Settlements, Trading Desk Support, Client Service Representatives, Finance & Middle Office, Technology, Product Data Support, Client On boarding Services and global Asset Services Departments. The job involves a high degree of daily communication and interaction with internal counter-parties, external custodians/agent banks and external clients.
- Daily reconciliation of control, suspense and bank accounts and daily resolution of reconciling items.
- Maintenance of customer service levels through speedy resolution of queries raised by Prime Brokerage clients
- Daily allocation of client money.
- Compliance with all relevant Regulatory and BofAML Control Standards and policy requirements.
- To identify changes to processes and procedures that will improve control, efficiency, reduce risk and/or improve client services.
- Participation in user acceptance testing programs new business projects.
- Reviewing common workbasket and workflow management.
- Ensuring timely resolutions of Queries/clarifications.
- Review of Reports and Metrics spreadsheet to identify gaps and address accordingly.
- Review of Escalations and Expedites for due diligence by associates.
- Process Escalations in accordance to documented process and follow through to closure.
- Attendance at daily Escalation meeting and follow-up with associates thereafter.
- Manage associates to timely closing of Request.
- Train associates on process and procedures and provide ongoing support.
- Work process and procedure gaps with LOB to closure.
- Education* :- Graduate in Commerce, Accounting, Management or Equivalent degree in Finance or Post Graduates in Commerce, Accounting Management or Finance / ICWA Inter / CA Inter / MBA Finance
- Certifications: NCFM or similar certifications
- Experience Range* :- 2 Years+’ experience in Asset Service (Income or Corp Act) would be an added + or 4 Years of experience in International Bank – performing Asset Services functions
- Strong work management skills and experience as SME
- Excellent Knowledge of financial and capital markets (Debt and Equity).
- Working Knowledge of General Accounting (journal entries, debits/credits, color of entries and treatment in books etc.).
- Demonstrates sense of urgency for meeting Service Level Agreements; earns business partner loyalty through accuracy, efficiency and courtesy.
- Fair Analytical skills & eye for detail
- Demonstrated ability to quickly learn new processes and tools and incorporate to work environment.
- Must have excellent customer service skills.
- Proficient skills in English language (speaking, writing and comprehension).
- Time and organizational management.
- Demonstrates good judgment to determine and manage business partner expedites and escalations.
- Ability to clearly articulate and communicate issues to internal and external.
- Ability to multitask effectively.
- Proficient in MS Office.
- Excellent MS Excel skills and knowledge of Fixed Income and Equity products
Desired skills* Good Communication skills, written and verbal and Advanced MS Office & Excel
Work Timings*:- US Shift (19.30-04.30)
Job Location* Gurgaon
* Mandatory Fields
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