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. Were 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 Overview*The Global Finance was set up in 2007 as a part of the CFO Global Delivery strategy to provide offshore delivery to Line of Business and Enterprise Finance functions. The capabilities hosted include Accounts Payable, General Accounting & Reconciliations, Management Reporting & Analysis, Research & Analytics, Financial Transaction Processing, Finance Systems Support and Supply Chain Management.Over the years, the scope of Global Finance has been expanded to include operations for other enterprise control functions like Human Resources and Risk and Compliance.Finance Data Management team (CFO DM) enables the Finance Organization and supports data needs of finance business users.The CFO DM team is involved in various activities (including, but not limited to):a) Data Management Activities: These includes activities such as Data Governance, Metadata management, Data Quality management, Production Data Validation, Reconciliation of Trade and GL Data, Reference data validations etc.b) Data Sourcing and provisioning: The scope of EDA (Enterprise Data Architecture) includes defining and implementing data provisioning strategy to simplify the flow of data from all lines of business into critical enterprise functions. The provisioning strategy includes the definition of Authorized Data Sources (ADS) for domains of transaction data (e.g., mortgage), reference data (e.g., legal entity) and derived data (e.g., capital). This is an Enterprise-wide effort and team is expected to focus on developing/communicating data requirements for targeted Authorized Data Sources (ADS) and validating data in each Transaction ADS as they are built out.*Individual will be a contributing member of the CFO Data Management Controls team focusing on implementing and executing controls for data that feeds into US/EMEA regulatory reports required by regulators such as FRB, OCC (in US), Prudential Regulatory Authority, Bank of England and Central Bank of Ireland (in UK). Individual will be engaged in activities like data validation, issue analysis, issue remediation and testing by utilizing his/her knowledge of such reg reports and working with stakeholders. Individual will be executing controls on data required for measuring market risk and various capital related regulations around computing capital charge for market risk. Individual should be familiar with different approaches required for setting aside capital for market risk. Individual should be familiar with market risk concepts and will be required to analyze such data to a granular level and make necessary adjustments if required for accurate regulatory reportingResponsibilities*

• Data validation and reconciliation for market risk related data required as per Fundamental review of trading book (FRTB)

• Manage/Run controls to identify data quality gaps in data

• Identify issues, its root cause, work with stakeholders in Global markets on issues resolution and be able to post adjustments as needed

• Complete Finance Packs and dashboards and also be able to walk through Business/Onshore partners on the same

• Manage relationship with Business/Onshore partners

• Identify process improvement and automation opportunities using Emerging technologies such as Alteryx

• Documentation: provide inputs on the project documents and prepare business document etc.

• Should be ready to work as an individual contributor

Requirements*Education*Graduate/Post Graduate in Finance.Certifications If AnyFRM/ CFA preferredExperience Range*7-10 yearsFoundational skills*

• Knowledge of market risk concepts and approaches to calculate market risk
• Demonstrated experience working in projects related to above
• Understanding on US/EMEA Regulatory reporting specifically regulations such as Basel 2.5, FRTB
• Strong knowledge of financial products
• Ability to analyze trade data for gaps/ recon breaks/ control failures and perform data adjustments
• Ability to facilitate daily data validation process
• Assist with project design and other implementation activities
• Ability to independently communicate with stakeholders
• Demonstrate ability to work in a fast-paced, every-changing, highly collaborative environment
• Professional written and verbal communication skills
• Strong organizational skills and attention to detail

Desired skills

• Understanding of US/EMEA regulatory reporting
• General ledger reconciliation experience
• MS Excel/ SQL knowledge

Work Timings*12.30pm - 9.30pm / 1:30 pm - 10:30 pmJob Location*Primary - MumbaiSecondary - Gurugram

Bank of America