Team Leader

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.

Job Description: Market Ops

Derivatives Collateral Operations manages the margining for the OTC, Repo Derivatives & Foreign Exchange businesses and Repo agreements. Collateral Management is a tool to control & reduce the bank's credit exposure risk on Derivative trades.

The Collateral Operations Unit monitors daily margining for customers across various products (Rates, Commodity, Structured Credit, Equity, Foreign Exchange, and Repo, Futures & Options). The Counterparty’s net exposure is evaluated each morning in order to determine collateral requirement. Margin Calls are made and received by Collateral Analyst and collateral exchanged. Team is also responsible to perform Security Optimization, Journal processing, liquidity and regulatory reporting.

Global Loan Operations team manages End to end Trade life cycle for syndicated loans. The teams are primarily responsible for the confirmation, settlement and ongoing management of lifecycle events for positions held by global markets loan trading. The teams have a high degree of client interaction, initially via the confirmation and Settlement process and subsequently via the management of sub participation agreements, Look to perform Input all the servicing/Settlement activities. Setting up new credit arrangements and loans to ensure, timely funding of borrowing requests, manage periodic rate changes, rate rollovers, advances, billing, conversions, fee, letter of credit activity and other inquiries and Serve as primary point of contact for request related to administration of large corporate credits.

Structured Trade Review - Reconcile the trade bookings (in at-least one asset class) in the trade/risk booking systems with the documents (Confirmation, Pricing Supplement, Term Sheet) & ensure no discrepancies. Ensure trades are booked in appropriate valuation models (including MC Scripts) and the trade payoffs/ valuation parameters are correctly captured in the booking. Identify potential PnL breaks/ settlement breaks due to mis-booking, ensure the amendment of mis-booking & report MTM impact of amendments. Identify, Confirm & Report conservative valuation bookings (over hedges) & approximate bookings for trades.

EMEA Securities Settlements team perform various functions like pre-matching, settlements, sufficiency, Depot Transfers and controls functions like margin, queue/break management, FOP, and margin payments for few entities. We work on both equities and fixed income products. Maintaining client/broker relationship and keeping the market, credit, liquidity, and operational risk to its minimum is key to the success. Teams interact with several different internal teams which are part of trade lifecycle and also with various counterparties externally to match/settle the trades.

GDRO is responsible for liaising with various parties (upstream and downstream functions) to identify, investigate and remediate data quality (agreement and client reference data). This involves Analysis type activity along with the remediation of data attributes associated with the duplicates/data issues. Follows synchronize approach to data governance and establish data ownership. Deliberate risk-based approach to remediation, involve in the project plan and assist the Leads in execution remediation plan.

RDM Data Quality team will be responsible for identifying, investigate and remediate data quality issues with respect to Client/Counterparty reference, static account, and product data. Individual will be responsible for Analysis activity along with the remediation of data attributes associated with the duplicates/data issues. The team would be responsible for adding and maintaining static data activities for GDRO. This includes adding and updating client and account details, entity data reference management and other static data amendment activities to support the analysis type activity.

RDM team provides operations support to the Global Markets Business of Bank of America Merrill Lynch. Key Business activities include back office and middle office operations related to securities, derivatives, futures, options, currencies (FX) and commodities. Key functions include support to Trade Processing & settlement, Cash Management, Asset Services, Collateral Management, Reconciliation, and Client Data. RDM - Client Data Services team is responsible for adding and maintaining client information with respect to settling and confirming transactions pertaining to Global Securities (Equity – FI, PB and Cash). This includes adding and updating client bank details SSIs – standard settlement instructions, contract note delivery information and the creation of client sub trading accounts for Global Market clients.

Product Data Services or Security Master Team is responsible for setting up Fixed Income securities like Corporate Bonds, Municipal Bonds, Mortgage Back Securities, and Treasuries etc on the back-office systems to facilitate the trades to flow into various upstream and downstream systems across the Enterprise. Team also maintains the Fixed Income securities with updating the latest rates, factor, prices and ratings information to facilitate correct interest and principal calculations in the downstream accounting systems.

Product Data Services process on legacy Merrill Lynch side does similar functions for Equity and equity related products like common stock, preferred, warrants, rights, equity options etc.

Asset Servicing

The Asset Services Processing team will be responsible for the following:

- Processing Income and corporate action events for House/Prime brokerage clients

- Reconciliation of Cash breaks, control accounts, tax accounts and fee accounts

- Investigation and Resolution of client queries on a timely basis

Skills exposure: Desired characteristics include integrity, attention to detail, assertiveness, initiative, leadership, strong work ethic and team focus, Strong interest in global financial markets and commodities sector and keen interest in complex structures is preferred, Analytical problem solving, Technical skills (MS Office: Excel & PowerPoint), Communication skills

Requirements

Education:  MBA/ PGDM / Maters in Economics / Quantitative Technique & Economics/ Mathematics/ Supply Chain/ Operations/ Statistics/ Data Sciences

Location: Students should be willing to work in any locations namely – Mumbai, Chennai, Gurugram, Gandhinagar (GIFT), Hyderabad as per company requirement

Shift : Should be willing to join any of the roles/skills/segment as per company requirement