Senior 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 Futures & Options and OTC Clearing team supports a global client base trading on 40+ global exchanges.  It is a fast-growing business focusing on growth through new client relationships and expanding marketing channels. The Operations team partners with our Business and Technology counterparts to provide a seamless front to back flow for our clients so they have uninterrupted access to the markets and to their positions and activity so they can best manage risk. Chester is the regional operations hub providing support for markets in EMEA region. We work closely with our regional and global counterparts to present a single global face to clients in the form of consolidated statements, reports, and technology.

Job Description

The SM/AVP supervisory role is part of the Clearing team in Bank of America Merrill Lynch’s F&O and OTC Clearing Derivatives group.  Daily the Clearing team is responsible for Clearing Futures and Options Trades. This position is primarily responsible for monitoring clearing team and corresponding reporting’s to various exchanges. This position will be the owner for process related controls. This position plays a key role in controlling operational costs.  Managing multiple teams and stake holders and handling escalations from traders and internal clients. This position will require ability to investigate and resolve exceptions with tight exchange cutoffs.

Responsibilities

This ETD clearing manager will be responsible for ensuring day to day BAU is executed seamlessly with 100% accuracy and within agreed SLA. The job responsibility would include the following.

• Global Trade Clearing
• Quick escalation of system and connectivity issues to Global and GBS senior management
• Manage Global stakeholders across regions.
• Review process documentations, SLA, SOP and adherence to strict deadlines, whilst carrying out all task
• Management reporting
• Effective escalation of issues to senior 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 queries.
• Ensure process is all time audit ready.
• People management and maintain a transparent, fair, and open team culture.
• Drive operational excellence and responsible growth culture within the team.

Requirements

• Education: UG/PG
• Certifications If any: Any clearing certification like EUREX Clearer would be added advantage.
• Experience Range: 15+ yrs.

Foundational skills:

• Excellent communication skills (both verbal and written)
• Strong knowledge of investment banking, capital markets & Derivatives
• logical and analytical skills
• Excellent organizational skills are required with the ability to prioritize daily workload, work accurately and efficiently under pressure.
• To be flexible in their attitude and approach.
• Self-starter – works on own initiative and willingness to help others to meet targets and objectives.
• Track record of developing processes to enhance controls and improve efficiency including further technological developments.
• Build out management information suite to track progress of role objectives.
• Strong technical skills including experience using MS Excel (essential) and Access (preferred). Experience handling large amount of data is required.

Desired skills:

• Experience in F&O and OTC Derivative Management/ Middle Office
• Knowledge of regulations such as Dodd Frank, EMIR, CFTC, etc would be an added advantage.
• Market knowledge on Derivatives & Fixed income, recent trends and global changes

Work Timings: 20:30 PM - 5.30 AM

Job Location: Gurugram