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Team Developer

Gurugram, , India

Job Description:

Overview:
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.

Process Overview*

The Stock Loan Associate in BACI will support the stock loan operational area in the following capacities

  • Process Intercompany transactions including, but not limited to; share and cash settlements for the MLPFS counterparty entity and MLI counterparty entity, collateral movement, margining of positions, fail research and resolution.

  • Research, Compile, and Reconcile stock loan breaks resulting from depot/blotter differences, cash offset breaks, DTC/Loanet breaks and breaks resulting from various blotter/AP breaks

  • Support the 5274 Repo process through the booking of borrows and loans in various systems and ensuring share movements through various streams

  • Maintain and record all activities in accordance to pre-established SEC record and retention format

  • Support regulatory and audit requests to both internal business partners and

          External regulators expeditiously.

Job Description*

Agreement and processing of settled items with MLPFS and MLI counterparties and the subsequent collateral movement for such

Daily reconciliation of said movements to ensure 100% balancing of activity and cash

Process mark to market transactions either via manual or automated platforms

The ability to isolate cash, stock and other breaks daily and process necessary Stock Record adjustments to correct breaks due to various reasons

Navigate through vendor based and internal stock loan processing systems to process daily activity

Responsibilities*

Fail investigation and remediation for failing borrows and loans and returns

Interact closely with stock loan teams in various locations, settlement teams and corporate action teams

Prioritize, investigate and add commentary to contract compare breaks

Create managerial reports, workload statistics, and provide value-added analysis to the business.

Prepare documentation/requests for onshore review and responses to all internal and external inquiries (Office of General Council, SEC Audit etc.) within established timeframes.

Requirements*

  • Education*   B COM/ MBA/BBA/BCA

  • Experience Range3-4 years

Foundational skills *

  • Knowledge of Settlements, Global Markets, Trade Lifecycle, Stock Loan

Desired skills

  • Knowledge of Stock Loan profiles

Work Timings:14:30 – 23:30  IST

Job Location: Gurugram

Learn more about this role

Full time

JR-20045057

Manages People:

Manager:

Talent Acquisition Contact:

Referral Bonus:

Street Address

Primary Location:
Infospace, Gurugram, 122016