Job Description:
- 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 Description:
This job is responsible for providing operational support for securities, loans, exchange traded derivatives and over the counter derivatives across multiple lines of business through the lifecycle of a trade.
Key responsibilities include handling trading and operational activities before deadlines, maintaining internal systems and providing operational support to internal partners.
Job expectations include maintaining a high degree of accuracy with customers and data to ensure compliance with regulations and policies.
Global Collateral Operations & Exchange Traded Derivatives Operations (GCO & ETD Ops) are responsible for the exchange of collateral to reduce counterparty credit risk and for the support of post-execution trade clearing and product lifecycle management.
Our global team consists of a diverse pool of over 500 individuals spanning 16 cities across 8 countries.
We provide front-to back support for a broad range of Clients (hedge funds, market makers, trading firms, investment advisors and investment banks), Global Market products and businesses including:
- • Futures and Options & OTC Cleared (F&O)
- • Prime Finance (PF)
- • Global Wealth Management
- • OTC Bi-lateral Derivatives (OTC)
- • Fixed Income Bi-Lateral Repo and To Be Announced (FI)
Line of Business Role Description
This is a role within the Prime Finance Margin team within Global Collateral Operations (GCO) in the US.
The key daily responsibilities include but are not limited to, performing daily controls to ensure the integrity of the margin calculation and timely report distribution, issuing margin calls to clients, confirming client responses to margin calls are received and approving client payments and asset transfers.
The role covers International Prime Brokerage, US Regulatory Prime Brokerage and the margining of inter-affiliate relationships covering several different businesses and clients.
Required Skills
• At least 2 years work experience, preferably with experience working in markets operations.
• Understanding of financial markets and the concepts around margining and collateral.
• Understanding of US regulatory margin rules.
• Ability to work in a team environment.
• Excellent verbal and written communication skills with ability to communicate with various stakeholders.
• Excellent time management and prioritization skills
• Ability and willingness to continuously learn on the job
• Intellectually curious and willing to challenge the status quo
Other Qualifications:
• BS/BA degree (US) or equivalent work experience.
∙ 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
Pay Transparency details
US - IL - Chicago - 540 W Madison St - Bank Of America Plaza (IL4540), US - NY - New York - 1100 Ave Of The Americas - Two Bryant Park (NY1540)
Pay and benefits information
Pay range
$25.00 - $42.55 hourly pay, offers to be determined based on experience, education and skill set.
Predictable pay
This role is compensated with a base salary and is not incentive eligible.
Benefits
This role is currently benefits eligible. We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.