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.
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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
• The Global Banking and Markets [GBAM] Finance 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 P&L production area covering the Equity trading desks.
Job Description
(Provide a high level overview of the role and scope of responsibilities)
• The candidate's main responsibility will be to produce and deliver the daily P&L 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
Responsibilities
• Production and reporting of daily P&L to Front Office & Senior Management.
• 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
• 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.
• Perform the Month-End Sub Ledger to general ledger reconciliation
• Analyze traders' risk positions and understand and apply the Greeks (Delta, Vega Gamma) vs daily market moves.
• Communicate effectively & escalate issues to senior management in a timely and thorough manner
• Mentor junior team members to help them grow and conduct strong oversight over all workflow & issues
• Good working understanding of Excel is a must; ability to troubleshoot spreadsheet issues is also critical
• The right individual will be a team leader and can multi-task to manage the challenges of Middle Office processes and personnel on an independent basis yet have the awareness to escalate potential issues to management 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
Requirements
Education
Education Qualification: Preference is a Finance or Mathematics related degree [e.g. Chartered Accountant, PG (Finance), FRM, CFA, CPA]
Certifications If Any
Experience Range
5 to 8 years
Foundational skills
• Strong Product/PNL Knowledge, should have handled multiple desks
• Effective communication skills with English proficiency
Desired skills
• 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
Work Timings
07:30 AM to 05:30 PM
Job Location
Gurugram