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.

Job Description

The India team will support the MLPFS Settlements to facilitate various securities settlement support services for both domestic and international trades settling within Merrill Lynch Pierce, Fenner & Smith (MLPFS) but specific to the following activities

FED Settlements, DTC settlements, Buy-ins and international settlements (covering US markets), TBA & Factor Coupon.

Responsibilities

Liaising with Brokers/Client for confirmation of trades

Responding to Adhoc queries from internal and external clients

Performing Pair off & Reprice activity

Timely settlement of trades

Interact with multiple stakeholders on day-to-day activities

Investigation of any late settlement of trades and working with claims team

Accurately processing the payment wires to clients

Investigation of Breaks

Perform all P/O confirmations to the clients before TBA cycle date,

SSI set up for the missing accounts

Preparation of reports

Passing JE’s to resolve internal breaks

Taking additional initiatives apart from daily activities

Drive Change – To identify workflow/systems inefficiencies and come up with new ideas for improvement and share the best practices with the team

Requirements

Education Bachelor’s Degree with finance background

Certifications If Any

Experience Range 4-5 in investment banking with good settlements knowledge background

Foundational skills

Good understanding of accounting basics (Journal/Ledger Entries, Balancing of accounts etc)

Good knowledge on BUY-ins and risks involved

Confident in interacting with senior internal contacts

Change orientated – can identify workflow/systems inefficiencies and come up with new ideas for improvement

Work in an organized manner and ensure all requests /or actions are followed through to completion

Ability to prioritize and utilize resources effectively to meet client requirements

Desired skills

English Fluency (spoken and written required)

Excellent communication skills

Good IT skills particularly Microsoft Excel

Good analytical skills

Strong team player with flexible approach and committed to success

Good attention to detail

Fast learner

Work Timings - 17:30 PM -02:30 AM

Job Location - Chennai