Team Leader

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*

Global Markets Operations &Middle Office provides operations support to the Global Markets Business of Bank of America. Key Business activities include back office and middle office operations related to securities, derivatives, futures, options, currencies (fx) and commodities. Market Account Offboarding process is engaged in offboarding of tradeing accounts/identifiers through robust procedure/due diligence and coordination with various business partners, analyzing, reconciling and identifying defects/potential non-compliant accounts followed by publishing the report to GBAM Sales/LOB Owner, Remediation teams i.e. AML OPs, KYC Services Team to present all client breaks which needs attention.

As part of Client account Offboarding, this function runs control checks, reconciliation of data between systems to detect AML KYC defects, monitoring and reporting defects for remediation, LOB requested or special projects. Collaborates with multiple departments, Sales and backoffice operations to report and take action in line with internal/regulatory AML KYC guidelines

Job Description*

Market Account Offboarding process includes activities/role related to data reconciliation, reports and database management pertaining to AML KYC defect detection and reporting. This includes coordination and support to Sales, AML Refresh/Operations, Client Offboarding to take action and perform remediation on timely manner. The task involves thorough, timely and accurate review of data, verification and publication of reports as per BAC Policy on Money Laundering and Anti-Money Laundering Program and the Global Banking & Markets (GBAM) AML Standards. Therefore, the role is critical and knowledge of Regulatory and compliance requirement is important.

Responsibilities*

• Good understanding of Global Markets / Reference data/Onboarding, regulatory and compliance. Basic understanding of AML KYC/OFAC/GFC.
• Capability to work on large set of data, analyze and prepare reports. This would require good excel knowledge along with presentation skills
• Ability to work in dynamic, time sensitive and challenging environment, meets defined SLA and accuracy consistently. Must have a team player perspective & be able to communicate confidently and clearly
• Should have expertise in excel to efficiently work on critical reports and database management
• To drive the development, implementation and regular review of policies and procedures on process ,compliance risks and issues that are material to the Business, including in particular Anti-money Laundering, Know Your Customer and Suitability ensure adequate staff awareness and training.
• Perform self-review of data inputted in the back office systems. Ability to perform checks in order to drive control and maintain process accuracy.
• Work on projects and special assignments and provide SME support.
• Ensure that all established procedures are followed
• Excellent organizational skills are required with the ability to prioritise workload, work accurately and efficiently under pressure
• To be flexible in their attitude and approach; have a strong desire to learn from day to day scenarios.
• Good Communication skills (spoken and written English)
• Able to work in a fast paced and busy environment (high volume with tight turnaround times)
• Tertiary qualification in business/commerce/Finance definitely preferred.

Requirements*

• Education* : B.Com, Preferably Masters in Business Administration (MBA) - Finance
• Certifications if any : relevant certification will be added advantage
• Experience Range* : 5 to 8 Years
• Foundational skills* : Good Excel skills, presentation, communication and reporting.
• Desired skills* : Analytical skill, knowledge of analytical/reporting tools tableau and advanced knowledge of Excel up to the level of creating Macro will be an advantage
• Work Timings* 13:30 to 3:30 IST Login window
• Job Location* Hyderabad/ Gurugram