Market Support Analyst- OTC Derivatives Confirmations

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
This job is responsible for providing operational support for securities, loans, exchange traded derivatives and over the counter derivatives across multiple lines of business through the lifecycle of a trade. Key responsibilities include handling trading and operational activities before deadlines, maintaining internal systems and providing operational support to internal partners. Job expectations include maintaining a high degree of accuracy with customers and data to ensure compliance with regulations and policies.

Responsibilities:

• Performs set-up and maintenance of core data across client, account, instrument, and agreement data, and oversees data quality within key data platforms
• Ensures transactions are completed in an accurate and timely manner
• 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
• Conducts daily monitoring of client trading activity across multiple markets, servicing clients' needs
• 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
• Identifies and flags potential risks in a timely manner

Line of Business Job Description:

Right now, we are looking for someone smart to join the OTC Derivatives Confirmations team. We focus on timely issuance and execution of trade confirmations across Fixed Income and Equity products for the Global Markets business. The team will need to liaise with Trading/Sales, Legal and other operational teams as well as external clients and understand the flow of trade confirmations from trade booking to drafting the document to chasing our counterparties for execution of the confirmations. The team will be required to ensure adherence to regulatory and internal risk targets. This is an excellent opportunity for a highly motivated individual to be part of a function that has focus from senior Business and Operations management. You will be able to apply critical thinking and a driven mindset to ensure that confirmations are drafted and executed in a timely fashion. This role offers a high level of visibility as you will work with a number of other internal teams to provide seamless delivery and support to a range of stakeholders. This is an established team in Charlotte and we have a presence in EMEA, Singapore, Gurguram, and Hyderabad.

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
•  Ensuring timely and accurate drafting of confirmations to our Global Markets clients.
• Liaising with internal stakeholders and external clients to resolve confirmations queries.
• Coordinating with global teams on escalation to ensure BofA risk is mitigated.
• Active involvement with our Change team to drive forward process enhancement initiatives.
• Active involvement with our Technology and support teams in response to incidents.
• Production and review of daily KRIs and KPIs.
• Driving performance improvements in risk and performance metrics
• Effective assessment and interpretation of industry led changes that will impact the Confirmations process.                                        
• Liaison with our risk and compliance partners
• Challenging the team’s processes and generating ideas to improve how we do things

Required Skills:

-Minimum 1 year analytical skills including data reconciliation and interpretation

• Excellent organizational skills - ability to switch between tasks and to prioritize work effectively 

• Strong communication skills - ability to run effective meetings and engage knowledgably and confidently with different stakeholders across the organization, building strong relationships with both internal and external clients

• Holds self and others accountable for high performance standards

• Logical approach to problem solving and a hunger for process improvement

• Excellent attention to detail and accuracy

• Good sense of judgement, knows when to escalate and how to manage senior management expectations

• Thrives in a team based environment working toward common goals

Skills:

• Collaboration
• Customer and Client Focus
• Oral Communications
• Prioritization
• Active Listening
• Adaptability
• Business Acumen
• Client Management
• Data Collection and Entry

Shift:

Hours Per Week: