Assistant 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!

Process Overview

Global Markets Business Finance Control (BFC) is a division of Global Banking Markets (GBAM) Finance responsible for the production and independent validation of Global Markets profit and loss and balance sheet. In this regard, BFC will ensure, inter alia, that accounting policies are correctly and consistently applied, and that trading portfolios are appropriately valued.

The team prepares and reports PL and balance sheet to the business and ensures the accuracy and integrity of the general ledger. We are responsible for daily service delivery and ensuring effective controls, transparent management information and becoming a center of excellence delivering process simplification and efficiencies. We work closely with front office, middle office, traders and valuation control teams to drive the control agenda across the business.

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 daily PL attribution, Hedge Accounting, 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: Money Market, Bonds and FX/Derivatives

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 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.

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.

Mentor junior team members to help them grow and conduct strong oversight over all workflow issues.

Requirements

Education*

Qualified Chartered Accountant/CPA /CFA / MBA from Tier I/II institute with at least 3+ yrs. experience or Graduate in Commerce with 6+ years of 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

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

Experience Range*

3 to 8 years with at least 2+ years experience in Global Markets Product Control role

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

Must be proactive and be a highly motivated self-starter. Reactive and/or passive individuals need not apply

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- 07:30 Hours IST to 17:30 Hours IST

Job Location*

Gurugram/Mumbai/Hyderabad