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Assistant Manager

Gurugram, , India

Job Description:

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:

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.

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:

The candidate is expected to work independently to reconcile Risk and Finance data for variety of products, analyze large breaks. The candidate should be able to determine if the break is deemed material or immaterial based on the rules defined, the size of the break, the Legal Entity involved in the break and a preliminary summary of the break root cause / issue. The candidate is expected to liaise with Risk Manager, middle office controllers to determine the impact of the breaks on VaR and Stressed VaR for Market Risk.

Considering the portfolio of products in review, the candidate should have strong domain knowledge in the field of Risk Management and various products in Global Markets and Global Banking lines of business.


  • Reconciling Global Markets portfolios on a daily basis for large P/L swings and Market Value 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.


  • Education:  B.E/MBA, B Com/MBA, CA, Candidates.

  • Experience: 2– 6 years of industry experience

Foundational Skills

  • General financial instruments knowledge (equities, fixed income, options, swaps, futures, foreign exchange) in capital markets area.

  • Basic Knowledge of portfolio variance and volatility.

  • Ability to understand key market drivers for VaR , Stress VaR impact - Contribution to Risk.

  • Knowledge of GREEKs (Delta, Vega)

Desired Skills:

  • Knowledge of SQL

  • Strong Business Analysis skills in technology

  • Excellent communication skills

  • FRM (good to have)

  • Good Written communication skills

Shift Timings: 11:30  am – 8:30 pm

Location: Gurugram

Learn more about this role

Full time


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Street Address

Primary Location:
Infospace, Gurugram, 122016