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Vice President, Head of Global Markets Operations, Manila Branch

Taguig, North Carolina, United States

Job Description:

About Bank of America:

Our purpose as a firm is to make financial lives better, through the power of every connection. Across the world, we partner with leading corporate and institutional investors through our offices in more than 35 countries. In the U.S. alone, we serve almost all of the Fortune 500 companies and approximately 67 million consumer and small-business clients. We provide a full suite of financial products and services, from banking and investments to asset and risk management. We cover a broad range of asset classes, making us a global leader in corporate and investment banking, sales and trading.

Connecting Asia Pacific to the World

Our Asia Pacific team is spread across 19 cities in 12 markets. We are focused on connecting Asia to the world and the world to Asia, using our global expertise to ensure success is shared between us, our clients and our communities. Our regional footprint covers 12 currencies, more than a dozen languages and five time zones, placing us firmly among the region’s leading financial services companies.

Position Description

The Head of GMO for the Manila branch will have overall responsibility for the Operations team that supports the launch of the Global Markets (FICC) business in the Philippines. The Head of GMO will initially manage a team of 2 other staff that cover operational processes spanning the full trade life-cycle supporting FX spot and forward products as well as Money Markets (Corporate Treasury). The product base and team size is expected to expand following the successful launch to cover Fixed Income and FICC derivative products. The Head of GMO will report to the Head of Global Markets Operations for South Asia Branches (offshore) and serve as the first point of contact for various Front Office and support groups.

The Head of GMO will be integral to the success of the Philippines Global Markets business as well as setting the culture of the GMO team – one that helps to deliver for clients while responsibly managing risk and complying with all enterprise and regulatory requirements.

The role requires a proven market leader who practices operational best standards, thinks strategically, communicates effectively and with impact, is able to engage with senior and junior stakeholders in a seamless manner, has a thorough understanding of the Philippines regulatory environment and local financial market systems, and possesses a strong ability to develop and grow staff.

Key Responsibilities

  • Overseeing the core functionality of the a team that covers processes relating to onboarding, AML / KYC, trades processing, settlements, reconciliations, regulatory reporting
  • Ensuring that the team is complying with GMO, enterprise and regulatory requirements and standards
  • Ensuring that the BofA and GMO enterprise risk framework is in place and adhered to
  • Serving as the first point of contact for Front Office, Compliance, Risk & Control, Philippines Country Management, Regional GMO Management, technology, HR, internal and external Audit, and occasional regulatory engagement
  • Engage closely with Philippines Wholesale Banking Operations, and other GMO leaders from APAC branches and hub locations
  • Responsible for resource planning, performance management and career development within a team of 3 GMO staff initially, and growing as the number of products expands
  • Driving change programs in collaboration with technology and other partners. Projects may result from business enablement, regulatory requirements or simplification and improvement / operational excellence opportunities
  • Identifying areas for operational process improvement that help to increase efficiency, reduce risk and cost

Key Requirements

  • Bachelor’s degree required
  • Thorough understanding of FX, Fixed Income, Money Market and FICC derivative products
  • Thorough understanding of the Philippines' banking and securities regulatory environment
  • Advanced knowledge of Philippines' payments and fixed income settlement systems
  • Proven leadership ability, preferably having managed a team within the Markets Operations department of an International bank
  • Strong interpersonal and overall communication skills (written and verbal)
  • Must demonstrate strong collaboration and stakeholder engagement skills
  • Significant experience delivering change and a track record of identifying process improvement
  • Proven ability to develop staff for future leadership and career advancement
  • 10+ years of experience in Global Market Operations preferably within an International bank

Desired Skills

  • Strives to bring new thoughts and ideas to teams in order to drive innovation and unique solutions
  • Excels in working among diverse viewpoints to determine the best path forward
  • Experience in connecting with a diverse set of clients to understand future business needs – is a continuous learner
  • Commitment to challenging the status quo and promoting positive change.
  • Participate in and drive collaborative efforts to advance tools, technology, and ways of working to better serve an evolving client base
  • Believes in value of diversity so we can reflect, connect and meet the diverse needs of our clients and employees around the world

Learn more about this role

Full time

JR-20051479

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Street Address

Primary Location:
32nd St Corner 9th Ave, Taguig, 1634