Job Description

:About UsAt Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day. One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We\xe2\x80\x99re devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being. Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization. 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. Join us!Global Business ServicesGlobal Business Services delivers Technology and Operations capabilities to Lines of Business and Staff Support Functions of Bank of America through a centrally managed, globally integrated delivery model and globally resilient operations. Global Business Services is recognized for flawless execution, sound risk management, operational resiliency, operational excellence and innovation. In India, we are present in five locations and operate as BA Continuum India Private Limited (BACI), a non-banking subsidiary of Bank of America Corporation and the operating company for India operations of Global Business Services.Process OverviewUnderstand how the trades for various assets classes have been booked on the BAML modelsIt 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 booking tool. The candidate will need be aware of different, potential scenarios that a trade is cancelled or edited or missing feedUnderstand trade flow from front to back perspectiveThe 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.Good Understanding of Accounting Principle and PnL Balance sheet adjustmentsResponsibilitiesPerforming BAU T+1 and SD+1 Front to Back Reconciliations.Work closely with Front Office, Trade Support, Finance and other Operation Groups to resolve breaksPerforming daily MIs and KRIsBreak reporting and governanceMonth-end reconciliation between Subledger and General LedgerResearch and resolution of breaks in multiple reconciliationEscalate aged breaks across various recons performed in Equities to Senior Management.Maintenance of various recon processes performed in EMEA and AMRS.Accounting sign-offs for accounts under ownership by substantiating subledger and general ledger balances.Become proficient in the reconciliation process and the different system flowsAnalyzing why trades are not matched in the recon tool on a T+1 or VD+1 basisLiaising with internal stakeholders and external client to remediate root causesChange mind-set, leading and delivering upon change initiatives within the context of the reconciliation functionPartner with the other regional teams to help move this team into a true global service modelPro-actively challenge the status quo, identify and drive change to improve upon the current modelRequirementsEducation Graduate and Preferably MBA with Finance BackgroundExperience Range- Six years of experience.Foundational skillsHands on understanding of Global Markets/Investment Banking business and basic knowledge of Investment Banking Products, Trade Life cycle eventsStrong analytical skills, mathematical ability, verbal and written communication skillsAttention for detail and must be quick learner to adapt to new systems/procedural changeDesired skillsHands on understanding of Process Controls, Risk in Global Markets, RegulationsStrong understanding of all asset classes, product line, Fixed Income and Equity productsHands on understanding of MS Office applicationsLearning agility, self-driven and ability to work under pressure and in complex environmentWork Timings -1:30 PM to 10:30 PM IST.Job Location - Hyderabad

Bank of America