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Assistant Manager
7-9 years
₹ 13 - 14.8L/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, Hyderabad / Secunderabad, Gurgaon / Gurugram
1 vacancy
Assistant Manager
Bank of America
posted 16d 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 Post Graduation
Certifications If Any : NA
Experience Range 7-9 Years of overall experience
Foundational skills*
- Knowledge and experience with Global Markets regulations such as Dodd Frank, HKMA, ASIC, MAS and EMIR
- Solid trade processing knowledge; front, middle and back office, (FO, MO, BO).
- Familiarity with counter party clearing: LCH. Clearnet (London Clearing House), Chicago Mercantile Exchange, Intercontinental Exchange (ICE), CBOE, OCC highly desirable.
- Strong analytical skills and experience working with large data sets in Excel.
- Excellent organizational skills to track many concurrent activities.
- Strong communication skills, both written and verbal.
- Ability to work independently and assess relative priority among competing issues
Desired skills*
- Adapts to changes and has a proven track record of working as part of a global team
- Ability to assess and mitigate risks and dependencies.
- Excellent communication and relationship building skills.
- Proactive and self-starter
Work Timings 12.30 to 21.30 IST
Job Location Gurugram, Mumbai, Hyderabad
Employment Type: Full Time, Permanent
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What people at Bank of America are saying
Rating based on 149 Assistant Manager
reviews
Anonymous · Administration & Facilities
in Gurgaon / Gurugram
Likes
Leadership is supportive and encourage everyone to excel in their strengths and move forward in their career path
- Salary - Good+5 more
Dislikes
We need to be very vocal about our work to get the recognition
Assistant Manager salary at Bank of America
reported by
1.9k
employees
with 2-18
years exp.
₹9.2
L/yr - ₹26
L/yr
101%
more
than the average Assistant Manager Salary in India
View more details
What Bank of America employees are saying about work life
based on 2.9k employees
Flexible timing
Monday to Friday
No travel
Day Shift
Bank of America Benefits
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