BA Continuum - Manager/Sr Manager - Middle Office - Cancel Correct

Overview

Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services.

BA Continuum is a nonbank subsidiary of Bank of America, part of our Global Delivery Center of Expertise in the bank. Our employees help our customers and clients at every stage of their financial lives, helping them connect to what matters most. This purpose defines and unites us. Every day, we are focused on delivering value, convenience, expertise and innovation for the individuals, businesses and institutional investors we serve worldwide.

We're committed to attracting and retaining top talent across the globe to ensure our continued success. Along with taking care of our customers, we want to be the best place for people to work and aim at creating a work environment where all employees have the opportunity to achieve their goals.

BA Continuum India Pvt. Ltd. supports business process, information technology and knowledge process across Consumer Banking, including Card and Home Loans, Legacy Asset Servicing, Global Banking and Markets, and Global Wealth and Investment Management lines of business at Bank of America.

Global Markets Operations & Middle Office provides operations support to the Global Markets Business of BOAML. Key Business activities include back office and middle office operations related to securities, derivatives, futures, options, currencies (fx) and commodities. Key functions include Trade Processing & settlement, Inventory Management, Cash Management, Asset Services, Collateral Management, Reconciliation, Client & Product Data.

Job Description:

The process involves performing large data set queries (data mining), prepare exception reporting and trending. Understanding the trade booking and trade amendments, analyse and review the Trades (Vanilla & Exotic) which are cancelled or edited/corrected. This process will help the Middle Office function to enhance controls (audit finding and regulatory requirement) for cancelled/amended trades and publish exception reporting across asset classes and regions

Responsibilities / Duties include:

- Understand how the trades for various assets classes have been booked on the BAML models

- Input into management information around cancelled/amended trades and review metrics, which are regularly produced and submitted to senior middle office management, trading desks, auditors and regulators

- Investigate and resolve breaks / queries from clients, counterparties, Front Office and Back Office

- Answering cancel/edit related queries from various groups within the bank. This involves liaising with internal stakeholders, discussing Cancel issues with the desk, querying documentation discrepancies with marketers and facing off to operation teams as necessary

- Review any subsequent trade amendments that have been done post initial review, to ensure that the trade accurately reflects the agreed / revised terms

- It is essential that potential candidates have a high level of attention to detail and a good grasp of the Domain understanding to review the conditions set out in the documentation. The candidate will need be aware of different, potential scenarios that a trade is cancelled or edited

- The candidate will need to understand how the trade is being risk managed and to review the booking within the context of BAML booking policies. This will form part of monitoring and control process.

- Have good data mining (working with large set of data, querying data using SQL queries, VBA scripts. Should have good advanced MS-excel expertise. SQL and VBA queries writing or trouble shooting will be desired.

Requirements:

- Minimum of 48 - 60 months experience in a trade support or operations function for OTC derivative products with a total experience of 8+ years

- Good Understanding of Investment Banking Products from a Middle Office or Back Office background.

- Strong communication skills across all levels of seniority especially with the Trading desk.

- Proven analytical skills including data reconciliation and interpretation

- Excellent client service mentality and approach.

- Ability to work autonomously and deliver results in a high pressured environment

- Logical approach to problem solving and ability to prioritize multiple tasks

- Strong attention to detail and accuracy

- Ability to identify and deliver process improvements.

- Demonstrate good Excel skills (macros, formulas)

- Flexible to work in Shifts

Competencies:

- Strategic thinker who can be creative and innovate.

- Intense work ethic with history of proven strong delivery

- Strong adaptability skills to navigate a large organization to keep the focus on delivering for the business & client whilst minimizing time spent on low value additive activities

- Personal effectiveness: communication, decisiveness, energy & drive, character & works diligently to achieve success

Shift Timings - 11.30 am to 8.30 pm (weekend off)