Job Description:
At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.
Being a Great Place to Work is core to how we drive Responsible Growth. This includes our commitment to being a diverse and inclusive workplace, attracting and developing exceptional talent, supporting our teammates' physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.
At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!
Want more jobs like this?
Get Data and Analytics jobs in Gurgaon, India delivered to your inbox every week.
Job Description:
Look to perform /Input all the Loan Trade Settlement activities. Manage FED Wire Payments/Receipts, Settle/Book trades in system of record, Reconciliation of cash breaks, Payment investigations, RDS SSI set ups, Journal Entry Processing/Approvals, Principal Paydowns and other inquiries.
Setting up new credit arrangements and loans to ensure timely funding of borrowing requests.
Manage Advance Disbursements, Pro-rata calculations, Loan conversions, Assignment fees, Delayed comp are correctly recorded and other inquiries.
Serve as primary point of contact for request related to administration of large corporate credits.
Responsible for accurate data input to various ancillary credit or operating systems is required e.g. ACBS/Loan Runner,GIN, Loan IQ,Cash Manager & Bank Funds Transfer.
Position requires proficiency with numbers to ensure accurate loan commitment, interest; fee and principal payments are recorded. Manage escalations and ensure time resolution to avoid any financial and reputational risks.
Should have understanding of secondary loan trading market. Ensure that all intraday and end of day checklists are maintained correctly and sign-off to confirm completion of tasks.
Undertake necessary steps to ensure that any required reporting requests are fulfilled.
Loan Settlements/Servicing administration with a good working knowledge of BFT/ACBS/Loan IQ /Cash Manager/ATCS similar platform for a loan servicing or settlement process. Organized, efficient, self-managed in key areas. Able to work under pressure & tight deadlines
Responsibilities*
• Ensure that all audit and processing audit processes and methodologies are followed and documented
• Adherence to the SLA's - productivity, turn-around-time, and accuracy
• Review daily key operational variables and monthly MIS reporting to management
• Develop back up and business contingency plans, Review SOP's and get them updated/approved on timely basis.
• Act as a change agent and provide implementation assistance as and when the need arises
• Provide subject matter expertise on processes and perform root cause analysis for errors
• Update Manager on process performance and critical people issues with data analysis and Dashboard reporting.
• Look to input/verify trade instructions received from LOB into ACBS/Cash Manager/Loan Runner/BFT. Ensure timely settlement of these instructions with relevant monitoring & updating of outstanding Trades
• Liaise with US Operations area for books and cash movements
• Responsible for ensuring that all payment instructions received by the team are efficiently and correctly processed to ensure that payments reach clients with good value
• Ensure that all intraday and end of day checklists are maintained correctly and sign-off to confirm completion of tasks
• Undertake necessary steps to ensure that any required reporting requests are fulfilled