Team Developer

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

Bank of America (BAC) has a policy for Global Futures & Options (“GF&O”) that states counterparty accounts should have specific pre-trade execution limit as required by Commodity Futures Trading Commission (CFTC) as well as exchanges and for any relevant front-end execution systems.

The Operations team partners with our Business and Technology counterparts to provide a seamless execution flow for our clients so they have uninterrupted access to the markets through the different execution platforms and so they can best manage risk.

The Function support ETD rate and break management, covering APAC, EMEA and AMRS regions.

Reconciliation is an internal function within GBSI that does ETD Reconciliation between our books and CCP (Exchanges & clearing fee) across AMRS, EMEA and APAC markets.

Job Description

The AM is part of the Fees team in Bank of America Merrill Lynch’s F&O and OTC Clearing Derivatives group.  On an annual basis the Fees team is responsible for reconciling and paying over $175 million (covering several million transactions) of Clearing, Exchange and Regulatory fees per year.  This position is primarily responsible for performing transaction level reconciliations of Clearing, Exchange and Regulatory Costs and resolving breaks identified.  This position will be the sole owner of fee related controls.  This position plays a key role in controlling operational costs.  The position is also responsible for preparing account reconciliations for the fee accrual accounts and intercompany accounts in accordance with company policy.

Apart from this the person may also be supporting Exchange Reconciliation Team in HYD.

There will be ad hoc requests or queries from management, traders and internal clients that will require an investigative and inquisitive mind to support and handle them professionally at the highest service level. This position will require a positive attitude and ability to work in a team environment.

The individual has to be self driven and has the ability to question status quo and initiate small change work improvements on any manual processes that he/she comes across.

Responsibilities

• Fees, Exchange and Carry Broker Reconciliation
• Quick escalation of system and connectivity issues to Tech team, minimizing downtime of the recon process
• Team orientated environment, associates empowered and encouraged to put forward suggestions for the continual enhancement and development of Procedures and Controls
• Strict adherence to documented procedure, task trackers, whilst carrying out all task
• Handle internal and external queries, either verbal or email, on a timely and accurately
• Effective escalation of issues to management
• Identifying process weaknesses, flagging communication issues to/from clients
• Work closely with internal teams such as the Reconciliation & Control Team and the Client Services Representatives (CSR) Team to resolve breaks

Requirements

Education : Any Graduation

• Certifications If Any: NA

Experience Range : 8-10 years

Foundational Skills

• Meticulous, team player and able to perform under pressure
• Independent, strong analytical skills, someone who can resolve issue by understanding the root cause and effect.
• Detail-oriented aptitude with a high degree of accuracy
• Responsible and accountable 
• Strong communication skills
• Conversant in MS Words and Excel (macros inclusively)
• Able to work on public holidays, late night, early morning and staggered hours
• Investment banking knowledge
• End to end Derivatives knowledge
• Excellent written & verbal communication skills

Desired Skills

• Understands GMI, and Exchange platforms, previous understanding of GMI, ETD Clearing & ETD Reconciliation.
• Analytical skills
• Presentation skills
• Advanced MS Office

Work Timings : 8:30 PM to 5:30 AM IST

Job Location : Hyderabad