Job Description:
Job Title: Collateral Operations Analyst
Corporate Title: Officer
Location: Chester
Company Overview:
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.
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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!
Location: Chester
Be part of something special at Bank of America Chester. Part of a leading global financial institution, we are looking for high potential individuals to join us in driving our people forward. Bank of America Chester is an exciting, diverse workplace where we are committed to delivering a great client experience to the businesses and individuals who call Chester home. Join our team today and find a rewarding, global career.
Role Description:
An exciting opportunity has become available in the OTC margins team, within the Collateral Operations Unit. The successful candidate will be joining a fast-paced team where no two days are the same! The main function of this team is to safeguard the business against the risk of counterparty default. On a daily basis, margin calls are issued to clients to facilitate the agreement and exchange of collateral, to cover overnight credit exposure on the underlying trade portfolios.
Responsibilities Include:
- Collaborating with various groups and stakeholders across the global organisation
- Reviewing and confirming daily margin calls with clients
- Ensuring collateral is settled within agreed timelines and currency cut offs
- Efficiently handling complex queries from various stakeholders both internally and externally
- Building and sustaining client relationships with excellent customer service
- Adhering to, and maintaining operational procedures, to ensure a controlled environment
- Investigating and escalating operational/settlement issues through to resolution
- Completing regular reconciliations with counterparties to ensure accuracy of margin calls
- Identifying and implementing process improvements, both regionally and globally
What we are looking for:
- Ability to prioritise workload and work to strict deadlines in a fast-paced environment
- A dynamic, proactive, and verbal individual who will thrive in a busy and close team
- An individual who demonstrates intellectual curiosity and critical thinking
- Risk and control mindset, with the ability to push back on stakeholders where necessary
- Must be numerate with good keyboard and core system skills (Outlook, Excel, Word, PowerPoint)
- Excellent communication (written and verbal), analytical and interpersonal skills
Preferred capabilities and skills:
- Basic understanding of financial markets and OTC derivative products
- Settlements or reconciliations experience
- Client service experience and stakeholder management
- University degree in a finance/business related subject
Benefits of working at Bank of America
UK
- Private healthcare for you and your family plus an annual health screen to help you manage your physical wellness with the option to purchase a screen for your partner
- Competitive pension plan, life assurance and group income protection cover if you become unable to work as a result of a disability or health reasons
- 20 days of back-up childcare including virtual tutoring and 20 days of back-up adult care per annum
- The ability to change your core benefits as well as the option of selecting a variety of flexible benefits to suit your personal circumstances including access to a wellbeing account, travel insurance, critical illness etc
- Use of a flex fund to use towards benefits
- Access to an emotional wellbeing helpline, mental health first aiders and virtual GP services
- Ability to donate to charities of your choice directly through payroll and the bank will match your contribution
- Opportunity to access our Arts & Culture corporate membership programme and receive discounted entry to some of the UK and Ireland's most iconic cultural institutions
- Opportunity to give back to your community, develop new skills and work with new groups of people by volunteering in your local area
Bank of America
Good conduct and sound judgment is crucial to our long term success. It's important that all employees in the organisation understand the expected standards of conduct and how we manage conduct risk. Individual accountability and an ownership mind-set are the cornerstones of our Code of Conduct and are at the heart of managing risk well.
We are an equal opportunities employer and ensure that no applicant is subject to less favourable treatment on the grounds of sex, gender identity or gender reassignment, marital or civil partner status, race, religion or belief, colour, nationality, ethnic or national origins, age, sexual orientation, pregnancy or maternity, socio-economic background, responsibility for dependants or physical or mental disability. The Bank selects candidates for interview based on their skills, qualifications and experience.
We strive to ensure that our recruitment processes are accessible for all candidates and encourage any candidates to tell us about any adjustment requirements.