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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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!
Bank of America is one of the world's leading 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.
Global Business Services
Global Business Services (GBS) 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.
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. 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 Credit (GMC) is a team within Enterprise Credit which is responsible for ensuring a robust and consistent credit underwriting process for Global Markets lending and trading counterparty credit activities. GMC partners directly with Global Markets front office teams on client selection, structuring, and underwriting activities to drive revenue growth while maintaining appropriate risk discipline. GMC also coordinates engagement with key control partners including Global Risk, Legal / Documentation, Onboarding teams, Collateral management, Credit Review and Audit in accordance with the Risk Framework and Internal and External standards. GBS Team will partner with the Global Markets Credit teams on Portfolio Management and Underwriting related activities. This workstream will be part of the Wholesale Credit Data Management group.
Job Description
The prospective candidate should have proven experience in leading a team in Financial Services Industry. The job requires the candidate to liase with the Line of Business frequently to understand their evolving business needs and lead the team in delivery and execution. The applicant should be experienced in performing quantitative and qualitative Credit Assessments, setting Internal Ratings, and recommending Credit Limits. Applicants should be experienced in designing and developing MIS reports. They should be willing to collaborate with associates in the larger groups partnering with Enterprise Credit to derive synergies and they should be flexible to collaborate with teams in US, EMEA and APAC.
Responsibilities
- Function as a Product Oriented Delivery (POD) Leader for the GMC workstream in GBS
- Provide support for credit underwriting of Funds portfolio (covering both Hedge Funds (HF) and regulated funds).
- Anchor new migrations pertaining to Portfolio Management/ Underwriting related work from the regional GMC teams
- Create and maintain the Standard Operating Procedures and impart trainings to the team
- Lead the team to partner with Sr. Credit Officers in analyzing and completing the due diligence on a Global portfolio of Regulated & Hedge Funds
- Prepare comprehensive Client Analysis documents through a detailed application/understanding of Investment strategies, Liquidity, Leverage, and Volatility
- Perform qualitative and quantitative credit assessment of clients and their trading exposure including stress and sensitivity analysis
- Propose risk-based limits based on assigned internal counter- party rating
- Remediate any NAV trigger breaches resulting from data quality or other issues, which may require a revised NAV or performance data to be input
- Identify and escalate limit overages, manage NAV trigger breaches, ad-hoc report management and escalating any counterparties/issues of concern as necessary
- Investigate and respond to queries from Credit Officers and other Business Partners
- Partner with the LOB on a range of activities starting from Onboarding to Underwriting and Ongoing Risk Management of high revenue generating Regulated Fund clients
- Report and resolve Data Quality issues
- Produce regular and ad hoc MIS reports
Requirements
- Education MBA degree/PGDBM from reputed institutes
- Chartered Accountants (CA) can also apply
- Candidates with Professional Certifications like CFA will have an edge
- Experience Range 10 + years of experience as a team lead
Foundational skills:
- Institutional Banking or Credit Rating Agency Experience with front -to-back Credit Risk knowledge in Regulated or Hedge Fund Domains
- Strong organizational, oral, and written communication skills, with ability to communicate effectively with all levels of risk, support, and business partners
- Candidate should exhibit strong personal drive, individual initiative, a sense of urgency, and responsiveness, with a desire to grow, learn, and take on increasing levels of responsibility
- Excellent team - orientation & strong work ethic
- Excellent communication skills and flexibility to work in different shifts to manage surge in deal flows
Desired Skills
- Good understanding of Global Markets and Derivative Products/Documentation
- Ability to quickly absorb and follow Credit Policies & Procedures
Work Timings 9:30 AM to 6:30 PM & 12:30 PM to 9:30 PM - Shift timings are subjective to change depending upon the business requirements. Associates should be flexible enough to work in the revised shifts. The Process does not have any Night Shifts
Job Location
Mumbai