BA Continuum - Manager/Sr Manager - Middle Office - Structured Trade Review

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:

STR team is responsible for a vital part of the Global Middle Office's control agenda, ensuring that all OTC Derivatives structured trades are reviewed in a timely and controlled fashion across all lines of business and all regions.

Responsibilities / Duties include:

- People management of 6-15 FTE's across multiple asset classes and all associated people management tasks (appraisals, target setting, staff development etc)

- Principle point of escalation for the team. The manager is expected to own issues through to resolution and support staff in delivery

- Management face off to the broader STR global management team

- Drive forward an improvement and efficiency agenda and own all associated projects related to the team's processes and development

- MIS presentation of performance and statistics where required

- Hiring and training reviewers (be a SME)

Apart from the above also perform the following tasks of a reviewer.

- Ensuring all trades are booked accurately and correspond to terms as agreed between the Front Office and the client. This involves understanding how the trade has been booked on the BAML models to replicate the payoff and comparing this to the economic conditions as set out in the Term sheet and Confirmation which have been agreed with the counterparty.

- Reviewing Structured Products term sheets and confirmations provided to the STR team by internal Marketers and Operation groups. It is essential that potential candidates have a high level of attention to detail and a good grasp of the English language to review the conditions set out in the documentation. The candidate will need be aware of different, potential scenarios that may affect the trade and understand the impact to payoff.

- Learn BAML booking templates and scripting languages for model bookings, which is essential in understanding the pay-off profiles of all exotic trade structures. This may also involve reviewing a combination of multiple products and payoffs.

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

- 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 of Overhedge and Model Limitation policies.

- Input into management information around new deal bookings and review metrics, which are regularly produced and submitted to senior middle office management and the trading desks.

- Answering booking related queries from various groups within the bank. This involves developing relationships with a variety of internal stakeholders, including discussing booking issues with the desk, querying documentation discrepancies with marketers and facing off to operation teams as necessary.

Requirements:

- Graduate in Commerce, Accounting, Management or Equivalent degree in Finance with CA inter/ICWA inter

- 7 to 8 years with minimum 4+ years of relevant experience as a people manager

- Proven detailed derivative knowledge across asset classes with extensive hands on experience of line role

- Proven ability to use excel at the highest levels

- Good ability to work across teams and support colleagues

- Good Understanding of the detailed concepts underlying derivative valuations, option trading strategies/ option combinations, mark to market valuation concepts

- Must be able to demonstrate excellent academics with courses in Finance required

- Post Graduate and Professional Qualifications (MBA Finance, CA) required at higher levels

- Professional Qualifications like FRM, CFA, NSE

- Ability to extract information and analyze it accordingly, knowing what is most relevant

- Ability to notice minor discrepancies / issues

- Must own issues that arise and support staff in all escalation matters through to resolution of items

- Must have experience of managing a team in a global environment and be able to draw on examples accordingly

- Must have held previous roles where an understanding of risk management has been developed. Ability to manage this risk and reduce it

- Ability to interact well with other internal colleagues across the Bank

- Must be able to manage own time, work to deadlines and priorities workload accordingly

- Experience of driving forward improvement to processes and systems and overseeing all associated projects

- Demonstrable self-starter who shows an eagerness to learn and to improve processes. The individual will be detailed orientated and able to provide focus and insight into the product space.

- Assumes ownership of problems and drives towards their resolution

- Displays high level of attention to detail and professionalism

- Approachable for more junior staff. Must work with them and support resolution of issues raised

- Communicates and partners well with others to accomplish goals

- Works with others and supports the sharing of ideas

- Works to find and build agreement with others

- Puts the needs of the team above personal profile and success

- Able to identify potential in more junior staff and support development accordingly

- Creates opportunity for individuals to grow within the team and across the organization to enhance career growth for the individual and delivery for the bank as a whole

- Able to identify an individual's strengths and weaknesses and use / develop skill sets accordingly for the benefit of the team

- Identifies gaps in the team regarding knowledge / skill set /soft skills. Takes action to remedy for the benefit of the team

- Strong motivator, able to encourage a good team ethos and drive standards upwards and the team forward

- Maintains high levels of self motivation. Accepts and tackles demanding goals

- Seeks opportunities to apply new skills/knowledge

- Demonstrates personal commitment to, and excitement about the work we do

- Stands up for what he or she believes in

- Has confidence to speak up on issues

- Manage upwards and well as downwards and ensure transparency of processes and all a and all associated risk

- Acts on feedback to improve performance

- Works through challenges to achieve success

- Communicates effectively

- Able to face off to senior colleagues and Front Office personnel with confidence

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