Team Leader

Job Description:

About Us

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection.  Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day. One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We’re devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.

Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.

Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us!

Global Business Services

Global Business Services delivers Technology and Operations capabilities to Lines of Business and Staff Support Functions of Bank of America through a centrally managed, globally integrated delivery model and globally resilient operations.

Global Business Services is recognized for flawless execution, sound risk management, operational resiliency, operational excellence and innovation.

In India, we are present in five locations and operate as BA Continuum India Private Limited (BACI), a non-banking subsidiary of Bank of America Corporation and the operating company for India operations of Global Business Services.

Process Overview:

EMEA Securities Settlements team perform various functions like pre-matching, settlements, sufficiency, Depot Transfers and controls functions like margin, queue/break management, FOP and margin payments for few entities. We work on both equities and fixed income products. Maintaining client/broker relationship and keeping the market, credit, liquidity and operational risk to its minimum is key to the success. Teams interact with several different internal teams which are part of trade lifecycle and also with various counterparties externally to match/settle the trades.

Job Description

This is a great opportunity for someone looking to gain experience in the world of securities. The associate will be part of the Securities settlements team working in a fast paced and time sensitive environment.

EMEA Settlements Teams are responsible for Pre-matching, Matching, Narrations and timely Settlement of trades - Value Date & Failing trades, Stock Loan Reconciliation, Depot Management functions across CREST, DOMESTIC & EUROCLEAR markets. The qualifying associates will work within one of the EMEA Settlements Teams and should possess the knowledge and skill sets required to work at a high level of competence within agreed protocols and with clearly defined lines of accountability for the assigned work. Although working individually, the success is measured at a team level, with internal targets and results being measured against the Line of Business external peer group on a regular basis. The level error free settlements, adhering to the regulators requirements Segregation Violations, Fines) and our success in the market versus our peer group is a key barometer in measuring the control of risk around the process.

The key to success is to ensure we settle all equity trades within tight deadlines as prescribed by the SLA.  In a deadline driven environment, turnaround, accuracy and escalation are of high importance as we are at risk to market movements, traders P & L, client relationship, and the bank’s reputation including settlement risk. Sense of urgency and attention to detail are pivotal competencies required to perform the functions.

Responsibilities

Good understanding of Global Capital Markets

Ability to maintain good connect with LOB partners and able to handle Issues and Escalations independently

To contribute towards consistent delivery on Business metrics along with other new responsibilities and setting higher standards of self and Team performance

Excellent Client Relationship and  communication skills

Build productive teams that works effectively together to achieve or exceed set operational targets & client Service Level Agreements (SLA's).

To create improvements in business processes by contributing ideas and implementing agreed changes into the team's day-to-day operations

To perform all tasks following company policy and procedures, including legal & regulatory requirements, and to prescribed company standards

Act as a process SME

To provide coaching & support to individuals to develop their skills, acting as a role model for excellent behavior and performance

Liaise with LOB effectively to manage the service delivery in line with the SLA and ADHOC situations

Experience in handling the monthly deliverables like Dashboards/Risk Matrix etc.

Reduce failing trades and increase settlement efficiency

Will be part of BAU apart from strategic and efficiency initiatives

To be flexible in their attitude and approach, and be willing to work extra hours during the week with overflow of volume and to provide cover for holidays planned and unplanned.

Requirements

Education: Graduate/Post Graduate

Certifications If Any:

Experience Range: 6-7yrs of relevant experience.

Foundational skills:

Excellent organizational skills are required with the ability to prioritize daily workload, work accurately and efficiently under pressure.

To be able to communicate effectively

Email writing and strong communication

Settlement Domain knowledge

Desired skills: Flexible

Work Timings: 12:30 PM - 09:30 PM

Job Location: Hyderabad & Gurugram