Job Description:
Overview (Bank of America overview, BA Continuum India overview, Business Overview)
Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. BA Continuum is a nonbank subsidiary of Bank of America, part of our Global Delivery Center of Expertise in the bank. Our employees help our customers and clients at every stage of their financial lives, helping them connect to what matters most. This purpose defines and unites us. Every day, we are focused on delivering value, convenience, expertise and innovation for the individuals, businesses and institutional investors we serve worldwide. We are committed to attracting and retaining top talent across the globe to ensure our continued success. Along with taking care of our customers, we want to be the best place for people to work and aim at creating a work environment where all employees have the opportunity to achieve their goals.
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BA Continuum India Pvt. Ltd. supports business process, information technology and knowledge process across Consumer Banking, including Card and Home Loans, Legacy Asset Servicing, Global Banking and Markets, and Global Wealth and Investment Management lines of business at Bank of America.
Process Overview
Global Markets Business Finance & Control (BF&C) 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, BF&C will ensure, inter alia, that accounting policies are correctly and consistently applied, and that trading portfolios are appropriately valued.
The desk is responsible for preparing and reporting of P&L and balance sheet to the business and ensures the accuracy and integrity of the general ledger. The desk is responsible for daily service delivery and ensuring effective controls, transparent management information and becoming a center of excellence delivering process simplification and efficiencies. The desk will work closely with front office, middle office, traders and valuation control teams to drive the control agenda across the business.
Job Description
Global Markets Business Finance & Control (BF&C) seeks to provide a first-class support service with particular focus on the relationship between trading risk positions and P&L components. We are looking to recruit an individual to work in the Financial Control and Financial Management function covering the Global Futures and Financing trading desks. The candidate's main responsibility will be to produce and deliver the daily P&L and Balance Sheet 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, and Finance and Trade Capture teams so good communication and time management skills are an essential requirement for this job.
Primary products covered will include: Repo, Bonds, Futures
Responsibilities
- Functionally manage the AMRS Short End Trading portfolio and deliveries.
- Reconcile actual P&L with trader estimates and provide flash/actual variance analysis.
- Working closely with the trading desks on position, P&L or other issues on an ad-hoc basis.
- Front-to-Back analysis & reconciliations of front office p&l and balance sheet to firm sub-ledgers,
- Assist with execution of month-end controls ensuring management vs financial P&L 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/ B. Tech from Tier I/II institute with at least 10 yrs. Experience in Investment Banking Valuation/ Product Control function, preferably with experience in Financing Products.
Certifications If Any
- 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
8 to 10 years with at least 6 years' experience in Global Markets Product Control role.
Mandatory skills
- Understanding of the Financing ad Bonds products
- Understanding of the PnL Attribution and Accounting of the Financing products
- Global Markets experience in Finance
- Experience in dealing with pricing models, Trading systems, Ledgers and Sub-ledgers.
- Control focused, analytical, team oriented, comfortable with complex products
- Strong financial analytics experience
- Excellent organizational, communication, and relationship management skills
- Demonstrated ability to work in a high pressure environment
- Proficiency in MS Office Suite; expert knowledge of Excel, Word, PowerPoint. Knowledge of Visual Basic, Access databases and macros will be an added advantage.
- 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
- Effective communication skills with English proficiency
- Advanced experience/skills with Excel and complex spreadsheets
- Able to work both independently and as team member
- Strong problem solving and analytical abilities (Excel/Essbase)
- Insight / Oracle / E ledger or equivalent experience preferred
- Takes initiative and challenges existing processes and procedures in a proactive manner
- Ability to analyze issues independently and derive solutions
Work Timings
13:30 PM IST to 10:30 PM IST
Job Location
Gurugram