Sr Operations Manager - Regulated

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

The Global Treasury Business Finance Control (BFC) 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 PL 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, BFC will ensure, inter alia, that accounting policies are correctly and consistently applied, and that portfolios are appropriately valued.

Job Description*

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 PL attribution, management reporting/analysis and funds transfer pricing.

We are looking to recruit an individual to work in the PL production area covering the Treasury/Fixed Income/FX trading desks. The candidate s main responsibility will be to produce and deliver the daily PL 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 Fixed Income, Money markets, FX, Rates

Outstanding financial control expertise in treasury products, familiarity with global markets businesses or treasury function and first-class leadership skills are prerequisites.

Responsibilities

• Supervise Production and Reporting of daily PL and balance sheet to Front Office Senior Management.
• Supervise Reconciliation of actual PL with trader estimates and review flash/actual variance analysis.
• Work closely with the trading desks on position, PL or other issues on an ad-hoc basis.
• Review Front-to-Back analysis reconciliations of front office PL 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.
• Control books, cost center and Business Units for line of business
• Understand IFRS 9 principles and Product Accounting including AFS, MTM etc.
• Supervise IPV, Valuation Control Activities, VA Computations
• Liaise with various business partners such as Technology, Market Risk, Credit Risk, Operations and Finance to resolve issues / queries.
• Develop, standardize continuous improvement of existing processes workflow.
• Monitor Testing/UAT for existing or new systems
• Remediation of issues in an autonomous yet timely manner considering the principles of control and the need to mitigate operational risk
• Optimize Operational Excellence - act as innovator and change catalyst to drive process redesign and realize efficiency across the platform
• Partner with GBAM Finance LOB executives to evaluate current process design, identify opportunities for efficiency and drive adoption of agreed changes
• Manage team projects, direct group effort and day-to-day team activities.
• Manage and drive risk disciplines and internal controls to deliver the best outcomes for our clients and shareholders
• Be pro-active and engage control partners/ technology to identify and mitigate operational risks
• Attract, retain, and grow talent.
• Build a culture and process to identify, mitigate, and control operational risk.

Requirements*

Education

Qualified Chartered Accountant/CPA /CFA / MBA from Tier I/II institute with relevant experience in Product Control or Global Markets environment and organization of similar scale with US GAAP, IFRS, IAS reporting framework with an interest and aptitude for derivative products

Certifications If Any

CFA / FRM certified candidates would be preferred

Advanced education and/or enhanced technical qualifications are a plus

Experience Range*

12 to 16 years with at least 8+ years experience in Global Markets or Treasury Product Control role

Foundational skills

• 8+ years of Banking and Financial Services experience and held a finance leadership position in an international environment with extensive knowledge of working in a Global Markets or Treasury Product control environment.
• Should have good understanding of financial markets, Derivatives structured notes-their hedging, funding, credit risk etc.
• Understanding of IFRS9 Product Account including AFS, MTM etc.
• The individual should have a proven track record of working and experience of managing teams of 10+ individuals having a pedigree of tier 1/ tier 2 institutions and possess a comprehensive expertise in strategic planning for flawless delivery.
• Strong people management skills, including the ability to resolve people issues and motivate the team to deliver
• Line experience coupled with a demonstrated ability to lead technology-based change
• Proven experience of providing thought leadership to overcome challenges and lead without direct authority, excellent skills with an ability to manage the group of fast paced team supporting multiple business verticals.
• Strong verbal and written communication skills, and the personal ability to collaborate, operate, and communicate effectively with a culturally diverse group of peers and colleagues.
• Has the gravity to interact at all levels of management to support resolution of complex business issues.
• Demonstrated ability to work in a globally matrixes and significantly multi-geography, multi-cultural offshore service delivery environment.
• A convincing executive presence which conveys composure and confidence in all situations, the credibility and stature to carry stakeholders through influence rather than via the hierarchy
• Individual should have the resilience to handle internal pressures and conflicts in dealing with multiple stakeholders.

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 PM IST to 09:00 PM IST

Job Location

Gurugram