: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. Wexe2x80x99re 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 OverviewGlobal Markets Operations &Middle Office provides operations support to the Global Markets Business of BAML. Key Business activities include back office and middle office operations related to securities, derivatives, futures, options, currencies (FX) and commodities. Key functions in the middle officeinclude trade control, product control and balance sheet management. While in the operations groups the key functions are Trade Processing & settlement, Inventory Management, Cash Management, Asset Services, Collateral Management, Reconciliation, Client & Product Data management.Derivatives Collateral Operations manages the margining for the OTC, Repo Derivatives & Foreign Exchange businesses and Repo agreements. Collateral Management is a tool to control & reduce the bank's credit exposure risk on Derivative trades. The Collateral Operations Unit monitors daily margining for customers across various products (Rates, Commodity, Structured Credit, Equity, Foreign Exchange, and Repo, Futures & Options). The Counterpartyxe2x80x99s net exposure is evaluated each morning in order to determine collateral requirement. Margin Calls are made and received by Collateral Analyst and collateral exchanged. Team is also responsible to perform Security Optimization, Journal processing, liquidity and regulatory reporting.Responsibilitiesxefx82xb7 New agreement setups in margining application to facilitate daily exposure feed based on Agreement termsxefx82xb7 Verification of call details originating from internal applications and exchange margin call notices with clientsxefx82xb7 Follow-up on margin calls due for payment where we do not have receipt of counterparty confirmationxefx82xb7 Verification of settlement instructions before releasing cash /securities as collateralxefx82xb7 Month end interest settlements with clients on collateral balancesxefx82xb7 Daily reconciliation, investigation and resolution of margin call disputes/discrepancies.xefx82xb7 MIS, reporting of operational and trading exposures to managementxefx82xb7 Maintenance of data in relation to points of contact internal and external and additional information necessary to effectively and efficiently resolve disputesxefx82xb7 Working closely together with Static data team, Settlements, Traders, and clients to ensure accurate information is updated within our processing databasexefx82xb7 Responsible for monitoring and clearing items on the daily breaks/exception reports, Clearing aged breaksxefx82xb7 Generate and publish daily control reports including MTM Swings, cash/security fails, zero MTM, Stale prices, open aged calls, etc.xefx82xb7 Monitoring of security balances and allocating securities based on prioritization list to optimize utilizationxefx82xb7 Responsible for placing margin calls, performing reconciliation and resolving disputes for repurchase agreementsxefx82xb7 MIS, reporting of operational and trade exposures to management, liquidity and regulatory reportingxefx82xb7 Reconciliation of collateral balances for Repo, F&O and publishing breaks reportsRequirements*Education : Graduation/PGExperience Range : 8+ YearsFoundational skills:
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