Bank of America - Manager/Sr Manager - Trade Support/Operations - OTC Derivative

Bank of America Overview :

Bank of America is an American multinational banking and financial services company that provides advisory, trading and risk management services across the full range of financial products for clients around the world. It is the second largest bank holding company in the U.S. by assets. In 2010, Forbes listed BoA as the third biggest company in the world. The company has approx 250k employees globally. Bank of America Merrill Lynch's Global Banking and Markets franchise is a global powerhouse providing institutional clients worldwide with access to our leading sales and trading and research franchises, investment banking services, global client relationships and product innovations. As of 2012, the institutional client base included 98% of the U.S. Fortune 100 and 85% of the Global Fortune 500.

Detailed Process 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

Detailed Role Description :

- 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.

Core Skills & Requirements :

Essential :

- 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