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74 Bank of America Jobs
Team Leader
5-7 years
₹ 9.1 - 12.8L/yr (AmbitionBox estimate)
This is an estimate of the average salary range for this
position. It has not been reviewed by the company, and
the actual salary may differ.
Mumbai, Gurgaon / Gurugram
1 vacancy
Team Leader
Bank of America
posted 4d ago
Job Role Insights
Flexible timing
Key skills for the job
Job Description
Transaction Reporting Operations are responsible for ensuring the completeness, accuracy and timeliness of the Bank s transaction reporting obligations across multiple global regulatory jurisdictions. Completeness, accuracy and timeliness controls are the primary responsibility of 2 core functions within the Transaction Reporting Operations team. The Submission Control function is responsible for monitoring and remediating the internal validation failures and the rejects (NACKs) from the regulators, the team has to liaise with MO/FO/Tech teams for the root causes of the exceptions. Submission control also monitors the trades which are not getting reported within the compliance time for OTC/ETD/Securities and raise breaches for all timeliness issues that missed the agreed thresholds. The Enhanced Quality Assurance team perform post process testing to validate the completeness, accuracy, and timeliness of the transaction reports submissions through performing reconciliations and targeted deep dive thematic testing.
Job Description
The current role is for the Submission control and below is the description of the role.
- Deliver on project commitments and goals, on-time and with agreed upon scope.
- Good understanding of Regulatory reporting land scape for CFTC, EMIR, HKMA and AMRS
- Data mining of huge data sets containing millions of records to identify target issue
- Exposure of working on regulatory queries and reaching out to Compliance/DTCC/Regulator to get clarity
- Good understanding of timeliness requirement for different jurisdictions
- Experience in using BI tools like Alteryx and Tableau to automate reports
- Well versed in identifying a regulatory breach and raising it with the compliance team
- Deliver for business partners: FO, BO and Cirrus Development teams, MO change management teams, Regulatory Operations Control team, Business Analyst team, and senior management team.
- Create and maintain strong relationships with stakeholders and Business partners.
- Identify tech issues, raise JIRAs and work with Development teams to fix the issue
- Collaborate with all submission control teams to update the TREF (Transaction Reporting Executive forum) deck with executive summary and commentary
- Should be a team player and should have the ability to work on all BAU reports
- Attend and contribute to team meetings
- This is a very hands on role, ideal for someone with drive and willingness to learn and adapt, is proactive and has very good knowledge about the reporting regulation and the reporting system architecture
Responsibilities
- Ensuring the completeness, accuracy and timeliness of transaction reporting submissions across multiple regulatory regimes (e.g. Dodd Frank, EMIR, MIFID/MIFIR, etc.)
- Engagement in designing, implementing and maintaining operation process
- Generate daily reports and analyze patterns to derive meaningful information
- Management reporting and issue escalation and resolution
- Remaining current on the Regulatory Reporting landscape to ensure the firm s reporting remains in step with changes in regulatory environment
- Responsible for working closely with GTR and Industry Working Groups(WG)
- Host WG calls with various internal groups to implement the industry/regulatory changes for MAS, HKMA and other Asian jurisdictions
- Track the progress of the implementation of changes and work closely with various team in FO/MO/Dev teams and Reporting Dev team
- Responsible to document the changes and work closely with the compliance teams
- Raise breach as per the guidelines and ensure remediation of the issue
- Investigate and identify the root cause for the Transaction Reporting breaks and coordinate with FO/MO/Tech to fix them
- Review controls on regular basis and challenge status quo
- Work with change and initiative team on new changes and provide requirement for controls ahead of going live with new jurisdiction.
Requirements
- Education: Graduate / Post graduation
- Experience: 5-7 Years
Foundational Skill
- Data Mining & Data Churning.
- Extensive business analysis, project management, data analysis and testing skills are required for this role
- Exposure to working with remediation of regulatory mis- reporting is an advantage.
- Strong analytical skills and experience working with large data sets in Excel.
Desired Skills
- Familiar with key regulations covered by TR Ops: EMIR, MIFID (desired: REMIT, SMMD, MIFID II)
- Experience of working in Banking MO, Operations or other relevant functions
- Experience in remediating transaction reporting issues, including back-reporting
- Familiar with key trade flow components: how trades are booked, cleared, captured, consumed by the reporting systems, processed, submitted to the regulatory / repository)
- Product specific knowledge inside / outside of transaction reporting operations
- Experience in key transaction reporting systems and how they interact with each other
- Strong communication skills, both written and verbal.
- Ability to work independently and assess relative priority among competing issues.
Ability to assess and mitigate risks and dependencies.
- Excellent communication and relationship building skills.
Work Timings 12 30 - 21 30 PM
Job Location: Mumbai/ Gurugram
Employment Type: Full Time, Permanent
Read full job descriptionBank of America Interview Questions & Tips
Prepare for Bank of America Team Lead roles with real interview advice
Top Bank of America Team Lead Interview Questions
Q1. What is front to back process of financial controller
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Q2. What data structure you want to use for returning database records and why?
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What people at Bank of America are saying
Rating based on 253 Team Lead
reviews
Anonymous · Procurement & Supply Chain
in Gurgaon / Gurugram
Likes
The company is great, work culture, employee benefits, internal opportunities are great.
- Salary - Excellent
+5 more
Dislikes
Promotions and appraisal are bit slow and low, depending upon the job profile and performance
Team Lead salary at Bank of America
reported by
2.3k
employees
₹5.7
L/yr - ₹17
L/yr
21%
more
than the average Team Lead Salary in India
View more details
What Bank of America employees are saying about work life
based on 3k employees
Flexible timing
Monday to Friday
No travel
Day Shift
Bank of America Benefits
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