Bank of America India | Manager

Responsibilities

• Team is also responsible to perform Data quality checks, monitor feeds from upstream into collateral system, run margin calculations, onboarding/static setup of new agreements into collateral application, Security Optimization, Journal processing, liquidity and regulatory reporting.
• Participate in IT initiatives and transition projects and strive to build standardized, integrated, controlled infrastructure.
• Lead and drive global projects from India coordinating with global stakeholders.
• Identify and assess risk and monitor issue reporting and remediation by applying the company’s standard Risk Framework.
• Design and publish appropriate Controls/metrics for operations control, using business intelligence and analytics software.
• Coordination with onshore team in decision making on upstream feed issues with due consideration to the impact.
• Verification of call details originating from internal applications and exchange margin call notices with clients.
• Verification of settlement instructions before releasing cash /securities as collateral.
• Responsible for monitoring and clearing items on the daily breaks/exception reports, Clearing aged breaks.
• Running swing report highlighting the day over day changes for benefit of margin teams
• Staying on top of prolong DQ issues, discuss and chased for status updates with upstream and tech team over BL/ Emails & Group Chats
• Follow-up on margin calls due for payment where we do not have receipt of counterparty confirmation
• Generate and publish daily control reports including MTM Swings, cash/security fails, zero MTM, Stale prices, open aged calls, etc.
• Maintain established productivity levels as per SLA
• Work Timings 12: 30 PM IST – 12:30 AM IST (Deferred shift)

Requirements

• Working closely together with Static data team, Settlements, Traders, and clients to ensure accurate information is updated within our processing database.
• Excellent communication skills (both verbal and written).
• Strong knowledge of investment banking, capital markets & Derivatives.
• Methodical and organized mindset, with strong control background and attention to detail with regards to ensuring data integrity.
• Excellent organizational skills are required with the ability to prioritize daily workload, work accurately and efficiently under pressure.
• Experience in OTC/Repo/F&O Derivative Collateral Management/Portfolio Reconciliations/Margin Management.
• Knowledge of regulations such as Dodd Frank, EMIR, CFTC, etc would be and added advantage.
• Market knowledge on Derivatives & Fixed income, recent trends and global changes.

Bank of America

Bank of America is one of the largest banks in the United States, serving individuals, businesses and institutions with banking, investing, asset management and risk-management products.

Its Indian operations and technology centres support the global bank. Finance professionals typically work in operations, financial reporting, regulatory, risk and audit roles.

• Industry: Banking and financial services
• Headquarters: Charlotte, North Carolina, USA
• In India: Corporate and investment banking, plus operations and technology centres in Mumbai, Hyderabad, Chennai and GIFT City (Gandhinagar)