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AVP - Sr Operations Manager

Mumbai, , India;

Job Description:

Overview (Bank overview, GBS India overview, Function 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 nonbank subsidiary of Bank of America, part of Global Business Services in the bank.

Process Overview*

The Global Financial Control India (part of Global Finance) is an arm of CFO Global Delivery strategy to provide offshore delivery to Line of Business and Enterprise Finance functions. The capabilities hosted include General Accounting & Reconciliations, Legal Entity Controllership, Management Reporting & Analysis, Finance Systems Support, Operational Risk and Controls, Regulatory Reporting and Strategic initiatives.

Job Description*

The role involves accounting, month end close, US regulatory reporting and US fed & SEC reporting. The individual will be part of a team responsible for the US Gaap legal entity control activities including management of financial close, supporting certain aspects of regulatory reporting, driving change and operational excellence

Responsibilities*

Responsible for legal entity financial control, includes but not limited to:

  • Overall lead and manage Regulatory Reporting  Submissions adhering to local laws and regulations including critical review, coordination for any regulatory changes , implementation of changes
  •  Support for monthly US GAAP financial close and BAC subsidiary governance processes
  • Reviewing US GAAP and Local GAAP (IFRS)  general ledger entries
  • Preparation of monthly board and other governance materials relating to financial reporting
  • Generating deeper understanding into key drivers of P&L and balance sheet and identifying and correcting anomalies
  • Preparation of Annual audited financial statements
  • Management of audit issues; process and control upgrades; internal and external audit liaison; and leading supervisory review conversations                                                                     
  • Ensuring monitoring and resolution of intercompany breaks and ensuring balance sheet substantiation
  • Determining local GAAP accounting treatments and ensuring appropriate bookings made
  • Support for legal entity forecasting

Finance Liaison and Change

  • Build relationships across CFO teams including LOB Finance CFOs, Treasury, Liquidity and Tax to understand and resolve accounting and reporting issues
  • Support change agenda across group and ensure processes are efficient, consistent and sustainable, making best use of technology
  • Supporting GFC and enterprise Operational Excellence initiatives

Requirements*

Education*

Chartered Accountant

Certifications If Any

Experience Range*

Minimum 12 up to 15 years of post-qualification experience in Controllership - Finance, Accounting and Regulatory reporting preferably in Banking Industry

Foundational skills*

  • Legal Entity control and reporting experience in a financial services business
  • Strong people leadership experience with an ability to lead a team to the tune of 10 to 15 members
  • Dynamic, high energy, solid work ethic, willing to take on new defined and undefined initiatives
  • Ability to think laterally and identify possible solutions to problems
  • Able to excel and influence in a cross-functional team structure
  • Excellent written and verbal communication skills are necessary as the position requires global correspondence and communication with associates throughout the Bank of America footprint
  • Driven to learn and develop new skills
  • Self-motivated and independent having an excellent control mind set
  • Ability to effectively manage multiple priorities and deliver as well as being able to adapt to changes
  • Able to work in a fast paced, deadline oriented environment
  • High level of ownership and attention to detail                                                                                 
  • Ability to apply sound judgment, provide effective challenge and display confidence to challenge
  • Ability to self-manage and prioritize, pursue goals and consistently deliver results
  • Ability to apply sound judgment, provide effective challenge and display confidence to challenge
  • Ability to self-manage and prioritize, pursue goals and consistently deliver results
  • Flexibility and good negotiations skills
  • Proficient in the use of Excel, Word, Powerpoint and MS Access
  • Exposure to Emerging technologies like Alteryx, Tableau, UiPath, etc
  • Driving innovation and transformation in finance

Desired skills

• Oracle/SAP experiences are preferred

Work Timings*

07: 30 AM to 21: 30 PM (9 hours shift, may require stretch during close period)

Job Location*

Mumbai/Gurgaon

Job Band:

H5

Shift: 

Hours Per Week:

45

Weekly Schedule:

Referral Bonus Amount:

0

Job Description:

Overview (Bank overview, GBS India overview, Function 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 nonbank subsidiary of Bank of America, part of Global Business Services in the bank.

Process Overview*

The Global Financial Control India (part of Global Finance) is an arm of CFO Global Delivery strategy to provide offshore delivery to Line of Business and Enterprise Finance functions. The capabilities hosted include General Accounting & Reconciliations, Legal Entity Controllership, Management Reporting & Analysis, Finance Systems Support, Operational Risk and Controls, Regulatory Reporting and Strategic initiatives.

Job Description*

The role involves accounting, month end close, US regulatory reporting and US fed & SEC reporting. The individual will be part of a team responsible for the US Gaap legal entity control activities including management of financial close, supporting certain aspects of regulatory reporting, driving change and operational excellence

Responsibilities*

Responsible for legal entity financial control, includes but not limited to:

  • Overall lead and manage Regulatory Reporting  Submissions adhering to local laws and regulations including critical review, coordination for any regulatory changes , implementation of changes
  •  Support for monthly US GAAP financial close and BAC subsidiary governance processes
  • Reviewing US GAAP and Local GAAP (IFRS)  general ledger entries
  • Preparation of monthly board and other governance materials relating to financial reporting
  • Generating deeper understanding into key drivers of P&L and balance sheet and identifying and correcting anomalies
  • Preparation of Annual audited financial statements
  • Management of audit issues; process and control upgrades; internal and external audit liaison; and leading supervisory review conversations                                                                     
  • Ensuring monitoring and resolution of intercompany breaks and ensuring balance sheet substantiation
  • Determining local GAAP accounting treatments and ensuring appropriate bookings made
  • Support for legal entity forecasting

Finance Liaison and Change

  • Build relationships across CFO teams including LOB Finance CFOs, Treasury, Liquidity and Tax to understand and resolve accounting and reporting issues
  • Support change agenda across group and ensure processes are efficient, consistent and sustainable, making best use of technology
  • Supporting GFC and enterprise Operational Excellence initiatives

Requirements*

Education*

Chartered Accountant

Certifications If Any

Experience Range*

Minimum 12 up to 15 years of post-qualification experience in Controllership - Finance, Accounting and Regulatory reporting preferably in Banking Industry

Foundational skills*

  • Legal Entity control and reporting experience in a financial services business
  • Strong people leadership experience with an ability to lead a team to the tune of 10 to 15 members
  • Dynamic, high energy, solid work ethic, willing to take on new defined and undefined initiatives
  • Ability to think laterally and identify possible solutions to problems
  • Able to excel and influence in a cross-functional team structure
  • Excellent written and verbal communication skills are necessary as the position requires global correspondence and communication with associates throughout the Bank of America footprint
  • Driven to learn and develop new skills
  • Self-motivated and independent having an excellent control mind set
  • Ability to effectively manage multiple priorities and deliver as well as being able to adapt to changes
  • Able to work in a fast paced, deadline oriented environment
  • High level of ownership and attention to detail                                                                                 
  • Ability to apply sound judgment, provide effective challenge and display confidence to challenge
  • Ability to self-manage and prioritize, pursue goals and consistently deliver results
  • Ability to apply sound judgment, provide effective challenge and display confidence to challenge
  • Ability to self-manage and prioritize, pursue goals and consistently deliver results
  • Flexibility and good negotiations skills
  • Proficient in the use of Excel, Word, Powerpoint and MS Access
  • Exposure to Emerging technologies like Alteryx, Tableau, UiPath, etc
  • Driving innovation and transformation in finance

Desired skills

• Oracle/SAP experiences are preferred

Work Timings*

07: 30 AM to 21: 30 PM (9 hours shift, may require stretch during close period)

Job Location*

Mumbai/Gurgaon

Learn more about this role

Full time

JR-21069137

Band: H5

Manages People:

Manager:

Talent Acquisition Contact:

Shweta Madaan

Referral Bonus:

0