Senior Operations 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*

Global Markets Finance Accounting Control Group (ACG) is a division within Cross Market Services group of Global Banking & Markets (GBAM) Finance responsible for running central processes and controls for Global Markets Admin and certain Business Units/ Books within FICC, Equity & Treasury Line of Businesses.

The team runs daily, weekly and monthly P&L and Balance Sheet controls including review of Stale, Counter-intuitive balances. Team responsibilities include ownership of and running FX Levelling for Global Markets, Sub Ledger control processes and General Ledger processes and journals to ensure accurate and well controlled close process. Driving review and resolution of Inter-Company and Intra-Company Balance Sheet outages is a key control during close cycle. We are responsible for daily service delivery and ensuring effective controls, transparent management of information and becoming a center of excellence delivering process simplification and efficiencies. Accounting Control group work closely with LOB Finance in the review and adoption of Sub Ledger accounting schema requirements/ changes in line with GAAP requirements and APG (Accounting Policy Group) guidance. We work closely with Line of Business Finance, Treasury, Legal Entity Control, Technology and Operations teams to drive the control agenda across the business.

Job Description*

We are looking to recruit an individual with extensive experience of leading high performing teams that deliver financial control and financial reporting capabilities in Fixed Income and/ or Equities. The position will have regular interaction with a broad range of senior stakeholders, including GBS leadership in India and GBAM Finance leadership in global locations and will be expected to leverage her/his extensive knowledge of processes and best practices within Finance, operations, risk management and talent management to ensure that the GBS team operates effectively as a key strategic component of the global GBAM Finance organization.

The individual will work in the Accounting Control Group area covering central processes and controls within Cross Market Services. The candidate will work closely with FICC & Equities LOB Finance teams, Legal Entity Controllers, Treasury and expected to provide a high standard of analysis and explanation around any issues faced and work with relevant stakeholders to resolve the same. The candidate will therefore have considerable interaction with various groups so good communication and time management skills are an essential requirement for this job. Outstanding financial control expertise in FICC & Equities products, familiarity with global markets businesses and first-class leadership skills are prerequisites.

Responsibilities*

• Supervise Production and Reporting of daily P&L and Balance Sheet for Global Markets Admin.

• Supervise FX Levelling process to facilitate Global Markets FX risk management.

• Assist with and supervise execution of month-end controls for Global Markets Admin.

• Drive continuous Balance Sheet controls such as review and resolution of of Stale, counter-intuitive balances.

• Supervise control activities pertaining to SubLedger Book management, central fee process.

• Supervise ongoing controls for Inter-company Loan portfolios (facing Treasury).

• Managing audit queries, operational events, Self-identified audit issues (SIAI) etc.,

• Develop, standardize & continuous improvement of existing processes & workflow.

• Monitor Testing/UAT for existing or new systems.

• Remediation of issues in an autonomous yet timely manner considering the principles of control and the need to mitigate operational risk

• Optimize Operational Excellence – act as innovator and change catalyst to drive process redesign and realize efficiency across the platform

• Partner with GBAM Finance LOB executives to evaluate current process design, identify opportunities for efficiency and drive adoption of agreed changes

• Manage team projects, direct group effort and day-to-day team activities.

• Manage and drive risk disciplines and internal controls to deliver the best outcomes for our clients and shareholders

• Be pro-active and engage control partners/ technology to identify and mitigate operational risks

Requirements*

Education*

Qualified Chartered Accountant/CPA /CFA / MBA from Tier I/II institute with relevant experience in Product Control, Legal Entity Control or Global Markets environment and organization of similar scale with US GAAP, IFRS, IAS reporting framework with an interest and aptitude for financial products

 Certifications If Any

Experience Range*

10 to 15 years with at least 8+ years’ experience in Controllership role

Foundational skills*

• Should have good understanding of financial markets, and knowledge of Financial products across Securities and Derivatives, their risks and hedging, funding etc.,

• Good Accounting skills and understanding of central General Ledger controls and processes.

• The individual should have a proven track record of working and experience of managing teams of 10+ individuals having a pedigree of tier 1/ tier 2 institutions and possess a comprehensive expertise in strategic planning for flawless delivery.

• Strong people management skills, including the ability to resolve people issues and motivate the team to deliver.

• Proven experience of providing thought leadership to overcome challenges and lead without direct authority, excellent skills with an ability to manage the group of fast paced team supporting multiple business verticals.

• Strong verbal and written communication skills, and the personal ability to collaborate, operate, and communicate effectively with a culturally diverse group of peers and colleagues.

• Has the gravity to interact at all levels of management to support resolution of complex business issues.

• Demonstrated ability to work in a globally matrixes and significantly multi-geography, multi-cultural offshore service delivery environment.

• A convincing executive presence which conveys composure and confidence in all situations, the credibility and stature to carry stakeholders through influence rather than via the hierarchy.

• Individual should have the resilience to handle internal pressures and conflicts in dealing with multiple stakeholders.

Desired skills

• Working knowledge of Emerging Technologies like Alteryx, Tableau

• Demonstrated ability to work in a high pressure environment

• Takes initiative and challenges existing processes and procedures in a proactive manner

• Strong team player

• Ability to analyze issues independently and derive solutions

• Analytical skills

• Inherent sense of principles of control through experience and sound judgment

• Reliability

Work Timings*

12:30 PM IST to 9:30 PM IST

Job Location*

Gurugram