Assistant Manager

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

The UMR is responsible for assisting in Projects for CPM desk managing UMR, Process automation, Process Development or provide solutions through prototyping.

Job Description

The GCO IM Control & Monitoring Team is part of the Global Business Services Team. This team is responsible to accurately compute & report Independent Amount (IA) of the counterparties and also assist in dispute resolution with the counterparties. The team provides:

2nd level support for Dispute Management post Collateral Operations population validation i.e. Correlation issues resulting in fallback calculation, risk factor mapping issues, missing risk sensitivities, risk discrepancies, low exceptions in the risk engine, etc.  

Escalate to Counterparty Portfolio Management (CPM) where required providing necessary explains on the discrepancies found.

Assess internal results for errors and provide assessment of counterparty calculators for reasonableness.

Responsibilities

Daily Risk validation and Analysis 

Review and validate new risk measures to be used by the SBA model 

Explain the daily primary and secondary risk sensitivities for OTC derivatives

Investigate discrepancies in the calculated number by performing independent trade valuation

Communicate daily with  FO and technology partners on issues and discrepancies discovered

Process Improvement 

Identify issues and control gaps in existing infrastructure 

Work with technology team to streamline our processes and enhance data integrity and control

Project Management

Accountable for the success of small projects or sections of larger ones 

Responsible for the quality and timeliness of all project deliverables and well as the implementation of relevant project management practices (status reporting, issue tracking etc) 

Day to day responsibility for managing the project with line, technology and other partners 

Education

Master’s Degree in Finance, Economics or Financial Quantitative Analysis from Tier 1 College

Certifications:

FRM/CFA is good to have

Experience Range

At least 3-5 years of experience working on derivatives

Foundational Skills

Derivatives , Product Control, VAR analysis.

Strong analytical skills

Desired Skills

Model understanding, Previous experience of working with models is preferred choice

Python programming experience is good to have

Excellent communication skills 

Shift Timings - 12 pm to 9 pm

Job Location: Gurugram