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*
Asset Transition Services team is involved in processing of ACAT and non–ACAT transfers, ensure timely delivery of assets by maintaining compliance with FINRA regulations and partner with various departments to mitigate risk and minimize exposure. Actively engages contra parties to partner on industry initiatives, finalize settlement of transfers and address escalated items. Another part which is involved in Asset Transition Services team is Abandoned Property, this group supports Client accounts that are classified as “abandoned” if after a determined amount of time, there has been no client-initiated activity or contact. The Abandoned Property group reviews Abandoned Property claim forms received from the clients for reinstatement before the property is remitted to the state as unclaimed property. Once the above mentioned activity is over the Bulk transfer team process starts wherein team takes care of moving client information and assets into a new account number, either at another branch prefix or within the same branch prefix. Abandoned Property Team also researches for the recent address of the abandoned accounts owners, so that we can allow the original owners and heirs to claim it indefinitely.
Job Description*
This individual will be responsible for overseeing transaction processing, maintaining accuracy in records, and facilitating effective communication between the banking backend, onshore and branch teams. Associate should be comfortable in a fast-paced, detail-oriented environment and is dedicated to maintaining the highest standards of accuracy, Turn around time and compliance in banking operations.
Responsibilities*
Approve, initiate and follow up with branch or onshore team.
Responsible to interact with LOB and Branch Offices via email and via calls (Skype call and Avaya calls)
Identify and escalate control issues, errors, and efficiency opportunities.
Work in a fast-paced environment and have the ability to prioritize and multi-task under pressure.
Must be a team player perspective & be able to communicate confidently.
Provide a high level of quality service, support, and responsiveness to clients of Merrill Lynch, Client Associates and Financial Advisor and communicate effectively with Merrill Branch & LOB.
Ensure that all established procedures are followed.
Adhere to GRG (Global Reconciliation Governance) policies while taking care of Abandoned property Month end Reconciliation.
Review of Abandoned Account forms for accuracy and if the form is complete the associate will contact the necessary team to follow the client’s instructions to either reinstate or liquidate the account.
Requirements*
Education*
Minimum Graduate, commerce stream preferred.
Certifications If Any - Any certification in finance or banking
Experience Range*
36 to 78 months experience
Foundational skills*
Good communication, verbal/written both and listening skills. Basic understanding about Banking operations & finance, strong analytical skills with great attention to details to perform the document review and reconciliations, Organized and able to multi-task in a fast-paced environment
Desired skills:
Highly motivated able to work independently, Excellent interpersonal skills, positive attitude, team-player, Willingness to learn and adapt to changes.
Work Timings*
05:30 pm - 02:30 am IST or 06:30 pm – 03:30 am IST or 07:30 pm - 4:30 am
Job Location*
Chennai
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