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
Loan Servicing Operations supports existing Commercial Lending products and services (Syndicated & Bilateral Loans). These services include updating customer and loan information, responding to client and business partner enquiries, managing financial and non-financial transactions, generating bills and invoices, and providing customer support and general maintenance through the life of the loan.
Job Description
Dedicated Servicing Team (Agented/Part-bought) supports Syndicated Loans servicing both 'As 'Agent' and in 'Part-bought' lender capacity, mainly for US region relationships. Servicer-1 works on various financial transactions and non-financial service requests received from Clients/Agent banks. Loan IQ is the System of Record to process all such transactions.
Responsibilities
- Taking ownership of assigned portfolios/service requests/transactions and completing with in turnaround time.
- Validating payment instructions/ notices and release advances/wires/notices to clients, lenders & Agent Banks on Loan IQ
- Managing periodic rate changes, rollovers, advances, payments, conversions, and Fronted Letter of Credit for Large Corporates
- Updating system of record with adherence to standard operating procedure and guidelines
- Timely action, resolution and reconciliation of financial breaks/past dues and following escalation matrix as & when needed.
- Effective communication and coordination with fellow team members, managers, and other stakeholders (agent banks/lenders)
- Adherence to the Business Deliverables, SLA (Service Level Agreement) and Accuracy.
- Innovative approach to work and continuous identification and highlighting of process improvement opportunities
- Identification and escalation of risk issues or controls gaps, working towards risk mitigations through controls enhancements and creating a risk proactive team culture, following the risk framework all through.
- Providing subject matter expertise and guidance to the team including coaching and mentorship to the new joiners.
- Working on complex deals, outstanding past dues, and reconciliation line items.
- Exceptional problem solving and exception management skills.
- Advanced level of understanding of commercial lending products, functions, and processes
- Understanding of loan trading markets and functions
Requirements
Job Title
- Team Leader/Asst. Manager
Education
- B Com, M Com, MBA (graduation in finance stream)
- Certifications - If Any
Experience Range
- 4-5 Years of relevant experience
Foundational Skills
- Overview & Navigation of Loan IQ │ Expert
- Overview & Navigation of iCon/GSS │ Expert
- Overview & Navigation of Clearpar │ Expert
- Banking & Markets Knowledge - Closing & Settlements, Loan Trade Servicing & Assignments, Primary & Secondary Markets │ Advanced
- Loan Servicing (Bilateral and Syndication) - Overview, types of Facilities, roles of different parties, Advances, Payments, Pricing Change, Renewals/Rollovers, Conversions, Fees, LCs, and Loan Maintenance │ Advanced
- Reconciliation - Understanding on GLs, Past dues etc. │ Proficient
- Commercial & Business Banking Lending - Basic Overview, Credit Product Knowledge, Loans Life Cycle & Credit documents │ Proficient
- Attention to Detail │ Expert
- Flexible and Open-Minded │ Advanced
- Communication Skill - Verbal/Written │ Advanced
- Customer Focus │ Proficient
- Stakeholder Management & Network/Relationship Building │ Proficient
- Critical Thinking │ Proficient
- MS Office (Excel, Word, PowerPoint) │ Advanced
Desired Skills
- Functional knowledge of AI/ML tools │ Proficient
- Operational Risk - Inadequate or failed internal processes, people, and systems or from external events │ Proficient
- Global Payment Product/Ops knowledge - Wire Transfer, Direct Debit, ACH, Swift etc. │ Proficient
- Active Listening │ Advanced
- Positive Impact and Influence │ Proficient
- Strive for Excellence/Change Management │ Proficient
- Team Building │ Proficient
- Numerical Ability │ Proficient
- Negotiation Skills │ Proficient
- Overview & Navigation of WorkFusion │ Proficient
- Data Management & Dashboard Tools - Tableau, Alteryx, SharePoint etc. │ Proficient
Work Timings
- 06:30 PM -03:30 AM
- 07.30 PM- 04.30 AM
Job Location*
Gift/Hyderabad