Job Description

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Overview (Bank overview, GBS India overview, Function Overview) *

Bank of America is one of the worlds leading 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.

We are 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.

We are a part of the Global Business Services which delivers technology and operations capabilities to all Bank of America lines of business (LOB) and enterprise functions.

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 individuals, businesses and institutional investors we serve worldwide.

• BA Continuum is a nonbank subsidiary of Bank of America, part of Global Business Services in the bank

Process Overview*

The Global Treasury Business Finance & Control (BF&C) is part of the CFO organization. The primary focus of the team is providing various financial and accounting services in support of the Corporate Treasury group pertaining to Hedge Accounting, forecasting/stress testing, daily P&L attribution, management reporting/analysis and funds transfer pricing.

Treasury Finance (Product Control) is a division of Global Treasury responsible for the production and independent validation of Global Treasuries\' profit and loss and balance sheet. In this regard, BF&C will ensure, inter alia, that accounting policies are correctly and consistently applied, and that portfolios are appropriately valued.

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The Corporate Treasury Finance team is part of the CFO organization. The primary focus of the team is providing various financial and accounting services in support of the Corporate Treasury group pertaining to forecasting/stress testing, daily P&L attribution, management reporting/analysis and funds transfer pricing.

We are looking to recruit an individual to work in the P&L production area covering the Treasury/Fixed Income/FX trading desks. The candidates main responsibility will be to produce and deliver the daily P&L to front office, providing a high standard of analysis and explanation around any issues faced and daily revenue drivers. The candidate will therefore have considerable interaction with the respective Front Office, Middle Office, Finance and Trade Capture teams so good communication and time management skills are an essential requirement for this job.

Primary products covered will include: Money Market, Bonds and FX

Responsibilities*

• Supervision, production and reporting of daily P&L to Front Office & Senior Management.

• Reconcile actual P&L with trader estimates and provide flash/actual variance analysis.

• Working closely with the trading desks on position, P&L or other issues on an ad-hoc basis.

• Reconcile PnL vs Sub Ledger vs Ledger and perform correction actions if required

• Understand IFRS 9 principles and Product Accounting including AFS, MTM etc

• Significant exposure to the Front Office and extensive interaction with senior management and multiple support functions.

• Perform and substantiate Risk based attribution.

• Assist with execution of month-end controls ensuring management vs financial P&L variances are within thresholds

• Analyze traders risk positions and understand and apply the Greeks (Delta, Vega Gamma) vs daily market moves.

• Drive strategic initiatives for the business finance functions.

• Influence the regional & global strategy of CFO group.

• Liaise with various business partners such as Technology, Market Risk, Credit Risk, Operations and Finance to resolve issues / queries.

• Execute and integrate new capabilities, as driven by local, regional and global objectives

• Development & continuous improvement of existing processes & workflow.

• Testing / UAT for systems work ranging from minor system releases to major system implementations.

• Remediation of issues in an autonomous yet timely manner considering the principles of control and the need to mitigate operational risk.

• Attract, retain and grow talent.

• Build a culture and process to identify, mitigate, and control operational risk.

Requirements*

Education*

Qualified Chartered Accountant/Management Accountant/CPA /CFA / MBA - Finance or equivalent from Tier I/II institute/ Graduate/ Post Graduate

Certifications If Any

Certifications including FRM, CQF etc if any would be an added advantage

Experience Range*

7-10 years of relevant experience in Product Control in Treasury/Global Markets environment, Valuations

Foundational skills*

• Candidate should have excellent knowledge of Derivative and Fixed income bond accounting

• Understanding of IFRS9 Product Account including AFS, MTM etc.

• Understanding of Fixed Income product set with a good understanding of the products used (see above) and their pricing

• Understanding of FX Revaluation, Sweep, Levelling and Exposure

• Understanding of Trade Life Cycle, Cash Flows, trade economics

• Understanding of daily PnL reporting, MTM/Attribute analysis, PnL commentary

• Demonstrates executive presence in interactions with various stakeholders.

• Ability to manage develop strategic plans for the business

• People management skills with ability to handle delivery in close time lines is must

• Experience in driving locational optimization, innovation and automation

• Demonstrate inclination and understanding of technology.

• Experience of creating process efficiency by optimally using tech.

• Mentor junior team members to help them grow and conduct strong oversight over all workflow & issues

• Proficiency in MS Office Suite; expert knowledge of Excel, Word, PowerPoint - ability to troubleshoot spreadsheet issues is also critical. **Knowledge of Visual Basic, Access databases and macros will be an added advantage.

• Ability to manage alliances, client relationships, cross functional initiatives and process integration within the geography covered

• Candidate must have a proven track record of communicating effectively with personnel from various areas within an organization and at different management levels

• Must be proactive and be a highly-motivated self-starter.

• Comfortable working in a collaborative team environment

• The right individual will have strong people skills and can multi-task to manage the challenges of Middle Office processes yet have the awareness to escalate potential issues to their supervisor in a timely manner

• Ability to mentor junior team members to help them grow and conduct strong oversight over all workflow & issues

Desired skills

• Advanced education and/or enhanced technical qualifications are a plus

• It would be advantageous if the individual has prior experience in on-shoring Finance, Middle Office or Operational workflow and implementing procedures and controls

• Ability to use SQL, VBA, Python etc. would enhance the candidates attractiveness significantly

Work Timings*

Candidate needs to be flexible with below shift timings depending on Business Requirements:

APAC: 8:00 AM to 5:00 PM

EMEA: 12:00 PM to 9:00 PM

Job Location*

Mumbai

Bank of America