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!
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
Global Investigations process deals with handling of payment related queries received from banks, internal BOA departments, customers, nostro outstanding & returned payments. All queries require detailed analysis & resolution as per standard timelines. The team handles Investigations for all currencies arising for Asia, EMEA & US regions.
Job Description
The associate will report to an FLM and will be working as an IC
Associate will be responsible for resolving queries raised by clients, internal departments, BOFA branches and External Banks and providing a resolution in a timely manner
Deliver and manage individual targets and contribute towards process metrics
Understand, interpret process procedures and regulations
Responsibilities
- Investigating and identify root cause for an enquiry
- Contact external banks through SWIFT correspondence messages
- Pass payments adjustments entries on client accounts, internal accounts & nostro accounts
- Review nostro accounts & ensure all outstanding debits & credits are cleared as per timelines
- Follow up with external banks for details, confirmation and recall of funds
- Verify Correspondence & Payment adjustments as per currency cut-off
- Responsible for handling Project Investigations on GIN and PEGA Platform
- Co-ordinate with teams onshore/offshore in day to day activities
- Verify and handle critical case types within assigned profile
- Identify training gaps and conduct refresher training within the team
- Actively participate in design discussions and provide inputs in transformation projects
- Works meticulously as per defined procedures and highlight anomalies as per recent changes in the process
- Thoroughly familiar with the Payment Concepts. i.e., MT 103/202/110/111 etc
- Thoroughly takes care of all process updates and assists the team to understand the content.
- Thoroughly familiar with the defects, deferred defects and workarounds in place if not fixed in the scheduled release. Educates team accordingly
- Deliver with accuracy and timeliness on all project tasks as they arise
- Escalates issues to the BACI Leadership team as they arise
- Assist the supervisors in preparing various process reports
Requirements
Education : Graduate or Post Graduate - Commerce (B.Com) or MBA (Finance)
Certifications If Any : NA
Experience Range 5-7 Years
Foundational skills
- Good Payments knowledge & Investigations experience
- Payments Certification would be added advantage
- Logical understanding of Payments flow
- Good Communication Skills, both verbal and written
- 5+ years relevant work experience. Prior work experience in Global Investigations is a preferable.
- In depth understanding of SWIFT payments & message types
- Ability to work on all types of cases.
- Detailed Knowledge of nostro accounts
- Should have worked on PEGA and good understanding of GIN Project
- Ability to multitask , prioritizing urgent items & meet stringent cut-offs
- Organized, methodical and customer focused
- Ready to stretch when required
- Willingness and able to own tasks to completion
- Flexible and adaptable to changing demands and shift timings
- Should be a Team player
- Ability to meet deadlines and achieve agreed targets
- Compliance centric and accountable for errors & losses
Desired skills
- Strong attention to detail and ability to work both independently as well as part of team
- Willingness to learn and adapt to changes
Work Timings 247 ( Rotational)
Job Location Gurugram / Hyderabad