Assistant Manager

Job Description:

About us*

At 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 re 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 Services

Global 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*

Business Finance and Control (BFC) sits within the CFO Org and is mainly responsible to ensure strong financial controls along with enabling the business. The Counterparty Portfolio Management (CPM) BFC supports the CPM business, which falls under Global Markets and specifically in the Global Market FICC division. The CPM business includes 1) XVA desk which is responsible for managing the counterparty credit and Funding risk (CVA/FVA); 2) Cross Asset Structured Notes - Central Funding Desk (CFD) responsible to centrally manage and own the various exotic structured notes issued by the bank and 3) Risk Optimization Group (ROG) - which consists of Collateral trade optimization (CTO) and Risk Opt. desk.

The CPM BFC teams are responsible for assisting in Analysis reporting of XVAs, CFD Collateral PnL and ensuring integrity, completeness, and accuracy of PnL data. Teams work closely with CPM front office desks and support them on various other initiatives to enable the business and ensure better controls.

Job Description*

The CPM BFC teams are responsible for assisting in Analysis reporting of XVAs, CFD Collateral PnL and ensuring integrity, completeness, and accuracy of PnL data. Teams work closely with CPM front office desks and support them on various other initiatives to enable the business and ensure better controls.

Responsibilities*

Production and reporting of daily PL to Front Office Senior Management

Reconcile actual PL with trader estimates and provide flash/actual variance analysis

Working closely with the trading desks on position, PL or other issues on an ad-hoc basis

Front-to-Back analysis reconciliations of front office PnL and balance sheet to firm sub-ledgers

Assist with execution of month-end controls ensuring management vs financial PL variances are within thresholds

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

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

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

Requirements*

Education*

Qualified Chartered Accountant/CPA /CFA / MBA from Tier I/II institute

Certifications If Any

CFA / FRM certified candidates would be preferred

Advanced education and/or enhanced technical qualifications are a plus

Ability to use Access or VBA would enhance the candidate s attractiveness significantly

Certifications If Any

Experience Range*

2 to 5 years

Foundational skills*

Proficiency in MS Office Suite; expert knowledge of Excel, Word, PowerPoint. Knowledge of Visual Basic, Access databases and macros will be an added advantage.

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

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

Desired skills

Alteryx / Python / Tableau knowledge would be an added advantage

Must be proactive and be a highly motivated self-starter

Effective communication skills with English proficiency

Demonstrated ability to work in a high-pressure environment

Takes initiative and challenges existing processes and procedures in a proactive manner

Strong team player

Ability to analyze issues independently and derive solutions

Analytical skills

Inherent sense of principles of control through experience and sound judgment

Reliability

Work Timings*

12:00 PM to 09:00 PM

Job Location*

Gurugram/Hyderabad