Bank of America India | Senior Operation Manager

Responsibilities

• The team is also responsible for running valuation controls to ensure fair value of balance sheet in accordance with internal valuation methodology and regulatory requirements.
• Additionally, the team also calculates relevant valuation adjustments including adjustments for illiquidity, concentration, model limitations etc. as applicable.
• The team is also responsible for calculating and reporting prudential valuation adjustments on a quarterly basis.
• The team works closely with front office, middle office, traders, valuation control and methodology (GVG) teams to drive the control agenda across the business.
• The team’s work primarily covers valuation controls for various asset classes across Global Banking and Markets, with a dynamic book of work providing opportunities to centralize, enhance and implement best practices for global valuation routines.
• The candidate should have extensive experience of functionally leading high performing teams that deliver valuation control capabilities.
• Performing the calculation and analysis of valuation controls including IPV, valuation adjustments and prudent valuation adjustments, as well as ownership for Fair Value Hierarchy levelling.
• Provide strong technical leadership on independent valuation principles.
• Timely identification and escalation of red flags to Business Finance and Control leads and other independent stakeholders.
• Drive solid supervisory reviews and governance around implementation of the valuation framework.
• Work closely with the trading desks on valuation issues and valuation differences.
• Lead conversations with Front office with respect to IPV variances, changes in valuation adjustments etc.
• Assist with execution of month-end controls and supervisory review routines pertaining to valuation control.
• Analyze traders’ risk positions and understand and apply the Greeks (Delta, Vega Gamma) vs daily market moves.
• Liaise with various business partners such as Technology, Market Risk, Credit Risk, Operations and Finance to resolve issues / queries and enable the business and be “Accurate & well controlled” across deliverables.
• Ensure audit readiness and compliance for the function as required by business finance policies, guidelines, and regulatory requirements.
• Act as a catalyst in the execution of global strategic technology projects impacting valuations.
• Develop, standardize & continuous improvement of existing processes & workflow.
• Takes initiative and challenges existing processes and procedures in a proactive manner.

Requirements

• Working with the Global Valuation Group to ensure ongoing review & enhancement of valuation control methodologies and practices.
• Strong understanding of trader’s risk positions and valuation principles, own the end-to-end desk communication and challenge process for GBAM Finance.
• Advanced education and/or enhanced technical qualifications are a plus.
• Ability to use Access or VBA would enhance the candidate’s attractiveness significantly.
• Alteryx / Tableau / Python knowledge would be an added advantage.
• Candidate must have a proven track record of communicating effectively with personnel from various areas within an organization and at different management levels.
• Must be proactive and be a highly motivated self-starter.
• Should have a strong quantitative background and appreciation and understanding of basic quantitative models.
• Demonstrated ability to work in a globally matrixes and significantly multi-geography, multi-cultural offshore service delivery environment.
• Experience interacting with internal/external auditors and regulators will be a big plus.
• Effective communication skills with English proficiency.
• Ability to analyze issues independently and derive solutions.
• Inherent sense of principles of control through experience and sound judgment.
• CFA / FRM certified candidates would be preferred.
• Should have good understanding of financial markets, Derivatives & structured notes-their hedging, funding, credit risk, valuation of derivatives, appreciation of methodologies related to calculating adjustments for liquidity, concentration etc.

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)