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

NFRR TRACE team primarily performs sample review of completed trade reporting activity by Trade Control teams. This is performed as per Eligibility Sampling in CRT tool and comments are updated on findings/ Exceptions. Trace control is the T+1 exception management process in Cosmos Regulatory Tool (CRT), Trade Control team takes actions based on findings accordingly. Some of the examples of action to be taken by Trade Control teams based on TRACE review are - reason codes/comments updated by respective Trade Control teams for Unmatched, Rejects, manually booked trades and Timeliness Controls in CRT. Metrics are gathered and reported to TRACE reporting stakeholders - Line of Business, Trade Control, Report Owner Front office, and Management groups. For (Eligibility Sampling & Accuracy Control) controls, GBS team will review, Attest/update comments in Cosmos Regulatory Tool (CRT) and for Completeness trace control team (Onshore) to reach out to Technology team to check any over, under, or duplicate reporting (due to manual reporting) are raised and escalated. For (Timeliness, Unmatched in FINRA, manually booked in FINRA & Rejects) controls.

Job Description

• Perform Accuracy Control to ensure correct data is reported to FINRA on the reportable trades.
• Manually Booked in FINRA, to validate that manual trades have been correctly reported and publish exception reporting.
• Timeliness control, validate TRACE reportable trades have been reported within the regulatory reporting timelines.
• Research the unmatched trades in FINRA also FINRA Real Time into a workflow / exception management tool CRT (Cosmos Regulatory tool).
• Eligibility check is performed correctly by Insight Transaction reporting rule engine.
• Exceptions management to ensure exceptions are raised and escalated accordingly
• Publish control reports to senior management on FINRA Exceptions
• TRACE team is responsible to chase/escalate respective Trade Control teams to Attest/update reason code and comments in CRT.

Responsibilities

• Good understanding of regulatory framework & FINRA reporting
• Good knowledge of trade control process and key attributes in trade execution  
• Good analytical and research skills, stake holder management
• Strong business partner skills, partnering with business partners.
• Excellent written and verbal communication skills are necessary as the position requires global correspondence and communication with associates throughout the Bank of America footprint.
• Must be able to meet tight deadlines in demanding environment.
• Highly organized and attention to detail and Work independently
• Proficient in the use of Excel, Word, and MS Access

Requirements

• Education- Bachelor’s Degree (B.Com/Finance will be preferred), Preferably Masters in Business
• Certifications If any : NA
• Experience Range 6 to 10

Foundational skills:

Good understanding of Regulatory framework . Good communication skills, Excel skills, Data interpretation and Reporting skills, FINRA reporting

Desired skills:

Global Market/ Investment banking knowledge with FINRA reporting and understanding of Trade control exception

Work Timings: 6:30 PM to 3:30 AM

Job Location: Hyderabad