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!
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Job Summary:
The main function of the Collateral Operations group is to mitigate counterparty risk on bi-lateral fixed income REPO and TBA trades governed by a MRA/GMRA and MSFTA agreements, as well as OTC Business governed by CSA agreements. The candidate will be expected to perform various margin functions for security transactions. Candidate will be heavily involved in maintaining accurate customer and security information on outstanding financing trades, making margin calls to customers by stated deadlines, entering margin trades, re-pricing existing trades, and monitoring their settlement. The candidate will track, report and resolve trade/price discrepancies between our customers/trading/sales desks. The process is very time sensitive and requires an extreme attention to detail.
Responsibilities:
The Collateral Unit interacts with a variety of different groups within the bank:
• Back Office/Middle Office Operations
• Cash Management to send/receive cash collateral
• Sales & Trading
• Credit/Risk Management
• Capital Markets Documentation
Due to the amount of interaction with our counterparts and other groups, excellent communication skills are necessary. An open flow of communication, specifically relating to new issues or problems, is necessary between team members.
Required Skills :
• Strong Excel Skills
• Knowledge of Fixed Income Securities including Repo and Collateral Management
• Understanding of relational databases and/or process flows
• Strong Communication Skills
• Ability to Meet Deadlines
• Ability to Handle High Pressure Situations
• Ability to Perform Multiple Tasks
• Organizational Skills with Special Emphasis on the Ability to Prioritize Responsibilities
• Detail Orientation - specifically the ability to recognize unusual flows/triggers for collateral in agreements and new trade structures
Other Skills:
• Strives to bring new thoughts and ideas to teams in order to drive innovation and unique solutions.
• Excels in working among diverse viewpoints to determine the best path forward.
• Experience in connecting with a diverse set of clients to understand future business needs - is a continuous learner.
• Commitment to challenging the status quo and promoting positive change.
• Participate in and drive collaborative efforts to advance tools, technology, and ways of working to better serve an evolving client base.
• Believes in value of diversity so we can reflect, connect and meet the diverse needs of our clients and employees around the world.
Shift:
1st shift (United States of America)
Hours Per Week:
40