Bank of America India | Team Leader

Responsibilities

• Trade support is responsible for tracking the trade flow and making sure that there is an element of risk management and control.
• This team identifies errors and raises them to the desk.
• This role is primarily responsible for managing OTC Derivatives Settlement team as per the SLAs outlined by the Line of Business.
• The role also demands support to various process related project initiatives, stakeholder management, risk management, handling escalations, addressing queries of settlement & investigations teams.
• Manage daily FX settlement activities and ensure all payments are processed accurately within market and clearing deadlines.
• Monitor settlement queues, payment releases, funding positions, and cut-off adherence.
• Ensure timely resolution of pre-settlement exceptions, SSI issues, booking discrepancies, and payment instruction differences.
• Drive high STP rates and minimize operational intervention.
• Lead investigation and resolution of failed, delayed, unmatched, and returned payments.
• Ensure outstanding receivables and payables are actively managed to reduce settlement risk.
• Coordinate with agent banks, counterparties, Sales, Trading, Treasury, and clients for break resolution.
• Maintain strong adherence to operational risk and regulatory requirements.
• Support audits, regulatory reviews, and internal control testing.
• Partner with Sales, Trading, Treasury, Reference Data Management, and Technology teams to resolve client issues.
• Ensure timely communication and professional handling of client queries and escalations.
• Drive continuous improvement initiatives to enhance controls, efficiency, and client experience.
• Support strategic projects, automation opportunities, ISO20022 initiatives, and business transformation programs.
• Verify accuracy of risk and P&L required for trading.
• Oversee end to end reconciliations of firm positions and trade bookings.
• Partner with other FO/MO and BO teams globally to resolve issues.
• Escalate high-value or aged breaks in accordance with escalation procedures.

Education* post graduate

• Experience Range* Overall experience of 5+ years with 2+ years of experience in Settlement function within an Investment Banking or Buy Side environment.
• Strong communication & negotiation skills across all levels of seniority including especially with the Trading desk.
• Ability to work autonomously and deliver results in a high-pressured environment.
• Logical approach to problem solving and ability to priorities multiple tasks.
• Proven analytical skills including data reconciliation and interpretation.
• Strong attention to detail and accuracy with an ability to notice minor discrepancies / issues.
• Ability to identify and deliver process improvements.
• Strong assertiveness, listening, influencing and diplomacy skills.

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)