Bank of America India | Team Member

Responsibilities

• We use a multi-faceted approach for flexibility, depending on the various roles in our organization.
• This is a great opportunity for someone looking to gain experience in the world of securities.
• The successful candidate will be responsible for pre-matching, matching, Trade Narrations, and timely settlement of trades-value date & failing trades, stock loan reconciliation, Depot Management functions across CREST, DOMESTIC & EUROCLEAR markets.
• Maintaining client/broker relationship and keeping the market, credit, liquidity, and operational risk to its minimum is key to success.
• Ensure Capital exposure is as per the levels fixed by the regulators.
• Ensure that there are no segregation violations as per SEC regulations and fines imposed by regulators are well below prescribed standards.
• Ensure Depot transfer requests are entered in the system are settled on time by liaising with Custodian, Client services.
• Ensure that breaks pertaining to stock loan are resolved within defined timelines.
• Researching on trades which are not recognized by CP and checking is it a valid and following the escalation procedure to make sure that trade settled on the same day or cancelled.
• Perform telephone confirmations on transactions due for settlement/matching.
• Responsible for clearing of items on the daily exception accounting reports.
• Maintain established productivity levels as per SLA.
• Ensure that all established procedures are followed.
• 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.
• Settle failing trades by liaising with various external clients, brokers, local agents & custodians.
• Take necessary steps to ensure that Buy-in threats are avoided to the firm as a result of failing trades
• Work Timings: 14:30 – 23:30 PM IST

Skills

• Prioritize on reducing failing SELL trades to mitigate the risk of buy-in threat to the firm.
• Excellent organizational skills are required with the ability to prioritize daily workload, work accurately and efficiently under pressure.
• Good understanding of capital markets & trade life cycle.
• Excellent verbal and written communication skills and effective interpersonal skills.
• Ability to work under pressure with excellent attention to detail.

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)