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Assistant Manager

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 all 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 non-bank subsidiary of Bank of America, part of Global Business Services in the bank.

Process Overview:

The QS or Quantitative Services Team is part of the Global Banking and Market Operations Team. This team within QS will be responsible for managing transition of various process in line with bank’s strategic view towards standardized platforms. More specifically the incumbent will liaise with various user groups and technical development teams to drive the migration towards the strategic state and also be responsible for maintaining relevant tracking mechanism and documentation. Additionally the role also requires getting involved in other kinds of testing such as those of P&L attribution and risk migration as the need arise where the role will be similar to above.

Job Description:

Establish data quality framework for Electrum used by the Prime Brokerage business is the main responsibility.

As a key member of the Risk Operations team within Quantitative Services, employee will have the opportunity to work on automation / optimization opportunities within QS organization. The central focus of the role includes responsibility for data quality and control processes across Prime Brokerage (PB) Market Risk and Margin data programs. The role also requires individuals to work closely with collateral operations to review, document, simplify and improve, and enhance control and governance processes to ensure that they comply with regulatory requirements.

Apart from working with data stewards, business users, and risk managers they will also have the opportunity to liaise with technology to define effective solutions and manage upstream and downstream remediation. The candidate is expected to work independently to determine if the break/data quality incident 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 margin and risk for Prime Brokerage business.

Responsibilities

  • Responsible for data quality and control processes across Prime Brokerage (PB) Market Risk and Margin data

  • Identify opportunities and suggest solutions to improve data quality and business processes

  • Participate in simplifying and improving Prime Brokerage Risk and Margin processes ensuring adherence  to regulatory policies, risk data aggregation standards, and enterprise-mandated standards.

  • Improve data quality diagnostic tools, investigate possible data errors and remediate inaccurate/missing data.

  • Monitor pricing failures in the margin process and closely work with Risk Managers, Collateral Operations and technology to identify solutions for systemic issues.

  • Work with technology on strategic initiatives and data sourcing projects and participate in User Acceptance Testing and impact analyses.

  • Analyze and confirm metrics / controls / thresholds are effective with LOB Risk Executives and sufficient for compliance.

  • Establish policies and procedures for managing data exceptions in the Prime Brokerage trade and margin lifecycle.

  • Reviewing Prime Brokerage portfolios on a daily basis for large P/L swings and MV breaks in margin process.

  • Work on automation / optimization opportunities

  • Responsible for governance processes to ensure that they comply with regulatory requirements.

  • Have the opportunity to liaise with technology to define effective solutions and manage upstream and downstream remediation.

  • Draft and submit data quality incident report with impact assessment and determine if Risk Re-statement is required

  • Complete attestation reports for all covered positions.

Requirements:

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

  • Experience: 5 – 9 years of industry experience

Foundational Skills:

  • 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

  • Broad knowledge in financial products and Financial Risk Management.

  • Experience in Prime Brokerage Collateral Operations is a plus.

  • Preferred: Advanced Excel/VBA skills and preferably SQL and python skills to build and maintain tools to simplify and improve processes, and eliminate manual / repetitive tasks

  • Ability to work under pressure in a team environment and across different geographical locations

  • Ability to liaise with all levels of the firm and people with different experiences and backgrounds

  • Ability to understand market drivers for VaR, Stress, knowledge of GREEKS, variance and volatility.

Desired Skills:

  • SQL

  • Business Analyst

  • FRM (good to have)

Shift Timings: 11:30  am – 8:30 pm

Location: Gurugram

Job Band:

H7

Shift: 

Hours Per Week:

45

Weekly Schedule:

Referral Bonus Amount:

0

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 all 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 non-bank subsidiary of Bank of America, part of Global Business Services in the bank.

Process Overview:

The QS or Quantitative Services Team is part of the Global Banking and Market Operations Team. This team within QS will be responsible for managing transition of various process in line with bank’s strategic view towards standardized platforms. More specifically the incumbent will liaise with various user groups and technical development teams to drive the migration towards the strategic state and also be responsible for maintaining relevant tracking mechanism and documentation. Additionally the role also requires getting involved in other kinds of testing such as those of P&L attribution and risk migration as the need arise where the role will be similar to above.

Job Description:

Establish data quality framework for Electrum used by the Prime Brokerage business is the main responsibility.

As a key member of the Risk Operations team within Quantitative Services, employee will have the opportunity to work on automation / optimization opportunities within QS organization. The central focus of the role includes responsibility for data quality and control processes across Prime Brokerage (PB) Market Risk and Margin data programs. The role also requires individuals to work closely with collateral operations to review, document, simplify and improve, and enhance control and governance processes to ensure that they comply with regulatory requirements.

Apart from working with data stewards, business users, and risk managers they will also have the opportunity to liaise with technology to define effective solutions and manage upstream and downstream remediation. The candidate is expected to work independently to determine if the break/data quality incident 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 margin and risk for Prime Brokerage business.

Responsibilities

  • Responsible for data quality and control processes across Prime Brokerage (PB) Market Risk and Margin data

  • Identify opportunities and suggest solutions to improve data quality and business processes

  • Participate in simplifying and improving Prime Brokerage Risk and Margin processes ensuring adherence  to regulatory policies, risk data aggregation standards, and enterprise-mandated standards.

  • Improve data quality diagnostic tools, investigate possible data errors and remediate inaccurate/missing data.

  • Monitor pricing failures in the margin process and closely work with Risk Managers, Collateral Operations and technology to identify solutions for systemic issues.

  • Work with technology on strategic initiatives and data sourcing projects and participate in User Acceptance Testing and impact analyses.

  • Analyze and confirm metrics / controls / thresholds are effective with LOB Risk Executives and sufficient for compliance.

  • Establish policies and procedures for managing data exceptions in the Prime Brokerage trade and margin lifecycle.

  • Reviewing Prime Brokerage portfolios on a daily basis for large P/L swings and MV breaks in margin process.

  • Work on automation / optimization opportunities

  • Responsible for governance processes to ensure that they comply with regulatory requirements.

  • Have the opportunity to liaise with technology to define effective solutions and manage upstream and downstream remediation.

  • Draft and submit data quality incident report with impact assessment and determine if Risk Re-statement is required

  • Complete attestation reports for all covered positions.

Requirements:

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

  • Experience: 5 – 9 years of industry experience

Foundational Skills:

  • 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

  • Broad knowledge in financial products and Financial Risk Management.

  • Experience in Prime Brokerage Collateral Operations is a plus.

  • Preferred: Advanced Excel/VBA skills and preferably SQL and python skills to build and maintain tools to simplify and improve processes, and eliminate manual / repetitive tasks

  • Ability to work under pressure in a team environment and across different geographical locations

  • Ability to liaise with all levels of the firm and people with different experiences and backgrounds

  • Ability to understand market drivers for VaR, Stress, knowledge of GREEKS, variance and volatility.

Desired Skills:

  • SQL

  • Business Analyst

  • FRM (good to have)

Shift Timings: 11:30  am – 8:30 pm

Location: Gurugram

Learn more about this role

Full time

JR-21049275

Band: H7

Manages People:

Manager:

Talent Acquisition Contact:

Ridhi Vasudeva

Referral Bonus:

0