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Collateral Operations Analyst

Chicago, Illinois

Job Description:

Do you want an opportunity to learn about a variety of Global Market traded products while helping design and automate reports that are distributed to senior level leadership at Bank of America? We are looking for a self-starter, who is curious and analytical, and enjoys the challenge of being a problem solver.

Global Collateral Operations manages the receipt of collateral from the company’s trading counterparties and the payment of collateral due to those counterparties, with a global credit support model for the Derivatives, Fixed Income and Prime Brokerage businesses. The Shared Services Reporting team is responsible for the production of reports and information required to comply with both internal management and regulatory reporting requirements. We strive to understand the data requirements and the context in which data will be used and are responsible not only for the accuracy and completeness of data provided but also for meeting reporting process standards for inventory, documentation, communication, validation and attestation.

Responsibilities:
• Establish and maintain control processes to ensure the delivery of timely and accurate data. Provision data on collateral transactions and balances to satisfy multiple reporting requirements
• Manage daily activities ensuring adherence to the reporting requirements, and to the deadlines and quality standards established in the procedures. Collateral functions supported with reporting include Over the Counter and Exchange Traded Derivatives, Fixed Income trading and Prime Brokerage services
• Work with Collateral Operations teams to analyze changes to the collateral management workflow, systems and processes, and ensure all data sourcing and control process documentation is updated to reflect the impact of changes
• Work with Finance, Risk, Legal and Enterprise Reporting teams to understand, analyze and document changes to reporting requirements and to stay abreast of new regulations that impact the team
• Enable the team to eliminate and automate manual processes. Manage transition focusing on driving operational excellence, and strive for building standardized, integrated, controlled, and properly evidenced reporting solutions
• Oversee inter-system reconciliations
• Understand applicable laws, rules and regulations and the risks inherent in the business. Participate in process deep dives and risk assessments to determine gaps and exposure, and to rollout standard Risk Framework on controls and processes
• Design and publish appropriate metrics for operations control

Required Skills and Experience:
• Undergraduate degree in business, economics, finance and/or accounting;
• Strong understanding of financial markets with 2 or more years of experience in any of the following disciplines: Valuations, derivatives or fixed income lifecycle, regulatory reporting, operations, collateral management; as well as balance sheet attestation and general ledger reconciliations
• Strong data mining and analysis skills; proficient in Tableau and Microsoft Excel
• Methodical and organized mindset, with strong control background and attention to detail with regards to ensuring data integrity, and in reviewing documents in accordance with provided procedures/standards
• Excellent verbal and written communication skills for the documentation of key control processes into desktop procedures
• Ability to present issues/ideas of high complexity in an easy to understand manner
• Ability to meet deadlines and multi-task

Desired Skills and Experience
• Prior operations experience in the specific functional/product areas
• Management and Regulatory Reporting exposure
• Tableau & Microsoft Excel

Job Band:

H6

Shift: 

1st shift (United States of America)

Hours Per Week:

40

Weekly Schedule:

Referral Bonus Amount:

0

Job Description:

Do you want an opportunity to learn about a variety of Global Market traded products while helping design and automate reports that are distributed to senior level leadership at Bank of America? We are looking for a self-starter, who is curious and analytical, and enjoys the challenge of being a problem solver.

Global Collateral Operations manages the receipt of collateral from the company’s trading counterparties and the payment of collateral due to those counterparties, with a global credit support model for the Derivatives, Fixed Income and Prime Brokerage businesses. The Shared Services Reporting team is responsible for the production of reports and information required to comply with both internal management and regulatory reporting requirements. We strive to understand the data requirements and the context in which data will be used and are responsible not only for the accuracy and completeness of data provided but also for meeting reporting process standards for inventory, documentation, communication, validation and attestation.

Responsibilities:
• Establish and maintain control processes to ensure the delivery of timely and accurate data. Provision data on collateral transactions and balances to satisfy multiple reporting requirements
• Manage daily activities ensuring adherence to the reporting requirements, and to the deadlines and quality standards established in the procedures. Collateral functions supported with reporting include Over the Counter and Exchange Traded Derivatives, Fixed Income trading and Prime Brokerage services
• Work with Collateral Operations teams to analyze changes to the collateral management workflow, systems and processes, and ensure all data sourcing and control process documentation is updated to reflect the impact of changes
• Work with Finance, Risk, Legal and Enterprise Reporting teams to understand, analyze and document changes to reporting requirements and to stay abreast of new regulations that impact the team
• Enable the team to eliminate and automate manual processes. Manage transition focusing on driving operational excellence, and strive for building standardized, integrated, controlled, and properly evidenced reporting solutions
• Oversee inter-system reconciliations
• Understand applicable laws, rules and regulations and the risks inherent in the business. Participate in process deep dives and risk assessments to determine gaps and exposure, and to rollout standard Risk Framework on controls and processes
• Design and publish appropriate metrics for operations control

Required Skills and Experience:
• Undergraduate degree in business, economics, finance and/or accounting;
• Strong understanding of financial markets with 2 or more years of experience in any of the following disciplines: Valuations, derivatives or fixed income lifecycle, regulatory reporting, operations, collateral management; as well as balance sheet attestation and general ledger reconciliations
• Strong data mining and analysis skills; proficient in Tableau and Microsoft Excel
• Methodical and organized mindset, with strong control background and attention to detail with regards to ensuring data integrity, and in reviewing documents in accordance with provided procedures/standards
• Excellent verbal and written communication skills for the documentation of key control processes into desktop procedures
• Ability to present issues/ideas of high complexity in an easy to understand manner
• Ability to meet deadlines and multi-task

Desired Skills and Experience
• Prior operations experience in the specific functional/product areas
• Management and Regulatory Reporting exposure
• Tableau & Microsoft Excel

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Learn more about this role

Full time

JR-22015316

Band: H6

Manages People: No

Travel: No

Manager:

Talent Acquisition Contact:

Autumn Barlow Huitt [C]

Referral Bonus:

0

Street Address

Primary Location:
540 W Madison St, IL, Chicago, 60661