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Job Description:
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!
Job Summary
The Fixed Income, Currency and Commodities (FICC) & Derivative Core Operations (FDCO) team perform end to end trade control, confirmation and settlements processes across FICC businesses and provides utility OTC derivative confirmation and settlement services for non FICC businesses.
Within FDCO, the teams provide multiple services such as FICC trade control, Foreign Exchange (FX) electronic matching and settlement, Over the Counter (OTC) derivative confirmation and settlement, and commodities operations.
FDCO (Fixed-Income Core Operation) organization is seeking a qualified individual to support the trade control for the Rates Trading Desk within Global Rates, with a focus on Interest rate products, Linear and Non Linear.
The role primarily consists of: assisting the business with Trade Validation/Trade Reconciliation support of securities and derivative products across multiple trade capture systems, understanding trade capture risk and underlying drivers of PnL, enhancing current support infrastructure, and performing reconciliation between front-office risk systems and back-office sub-ledgers. The role works closely with multiple business partners, including Front Office, Market Risk, Technology, Finance, and Compliance.
The desired candidate should possess a strong understanding of derivatives products in order to provide SME (Subject-Matter Expert)-level support. These would include Interest Rate Products including IR Swaps, Cross CCY Swap, and Zero-Coupon swaps, Futures and Future Options etc.,. Understanding of Structured/Non Linear Products (Ex - IR Caps and Floors, Swaptions, Toral Return Swaps, CMS Spread Options Etc ) would be an added advantage. The candidate must have excellent MS Excel skills and must be an excellent written and verbal communicator. The role is fast-paced and often has simultaneous competing priorities and as such, the applicant must be able to properly prioritize their time and be comfortable in a fast-paced work environment. The role requires all trade issues to be monitored, escalated as necessary, and resolved in a timely and efficient manner. As a result, this role is an escalation point for the various Operations Teams, and external clients on transaction related issues. Cross training with team members supporting other products will be required for coverage purposes.
Responsibilities
Job Description:
This job is responsible for providing advanced end-to-end operational support for securities, loans, exchange traded derivatives and over the counter derivatives across multiple lines of business, and cross-business functional support through the lifecycle of a trade. Key responsibilities include ensuring trading and operational activities are completed accurately and before deadlines, researching and resolving complex issues, and simplifying client interactions. Job expectations include being customer oriented and data driven, while focusing on continuous improvement.
Responsibilities:• Provides operational support for one or more activities within the lifecycle of a trade, including trade processing, trade settlement, accounting and reconciliation, lifecycle events, and collateral management
• Provides simplified client interactions and deepens client relationships across Global Banking and Markets' clients
• Completes accurate, timely clearing and settlement of trades with internal and external counterparties including reconciliation management and governance of trade fails and breaks
• Performs tasks accurately during high volume periods in a team environment
• Improves and simplifies the client experience, reducing manual touchpoints
• Supports the implementation of new processes to improve the overall business operating model
• Identifies and flags potential risks in a timely manner
Required Skills: (Must have these skills to be minimally qualified)
Desired Skills:
Shift:
1st shift (United States of America)Hours Per Week:
40Learn more about this role