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
Global Wholesale Banking Operations comprises operations for Commercial and Corporate banking clients. These operations support the business across US, Asia Pacific, & EMEA regions. GWBO functions include implementation and servicing of credit, depository and treasury products; processing of payments and processing of trade finance transactions.
Job Description
(Provide a high level overview of the role and scope of responsibilities)
Deposit Management Team deals with Opening/Closing/Maintenance of DDA/Savings Accounts for corporate clients. Entry channels for receiving work is through emails and applications like Global Fulfillment Solutions (GFS), OnBoard Assist (OBA) & iCon - Intuitive Connections. Major Activities - Analysis Fees, Balance Transfer, Identification of Treasury Services, Closing of Account. Account Opening includes activities related to document review, opening accounts on system of record and imaging legal documents to Bank repository. Account Maintenance (fulfillment of signature card maintenance and imaging of legal documents) for commercial and corporate DDA accounts.
Deposit Management team currently service US region only and includes the below sub-functions:
• Account Opening deals with Opening of corporate DDA Accounts and verifying/authenticating legal documents and uploading them on Bank Repository
• Account Closing deals in closing of Corporate Accounts and deletion of Treasury services, including balance transfer and charging of analysis fees
• Legal Name Change (LNC) Team perform ensures entity changes are happening across the globe to deliver client satisfaction
• Authority Management (AM) is a global workflow solution simplifying how the Bank manages client entity and account level authorities through Authority Profiles - Workflow within Onboard Assist (OBA) application utilized by both Fulfillment and Servicing teams to manage signers/authorities. Users may setup a single Authority Management case that contains multiple region entity provided they are from the same Family GCI