Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. We are committed to attracting and retaining top talent across the globe to ensure our continued success. Along with taking care of our customers, we want to be the best place for people to work and aim at creating a work environment where all employees have the opportunity to achieve their goals.
We are a part of the Global Business Services which delivers technology and operations capabilities to Bank of America lines of business (LOB) and enterprise functions.
Our employees help our customers and clients at every stage of their financial lives, helping them connect to what matters most. This purpose defines and unites us. Every day, we are focused on delivering value, convenience, expertise and innovation for individuals, businesses and institutional investors we serve worldwide.
- BA Continuum is a nonbank subsidiary of Bank of America, part of Global Business Services in the bank.
The Global Banking and Markets GBAM Finance seeks to provide a first-class support service with particular focus on the relationship between trading risk positions and P&L components. We are looking to recruit an individual to work in the P&L production area covering the Fixed Income/FX/Equity trading desks. The candidate’s main responsibility will be to produce and deliver the daily P&L to front office, providing a high standard of analysis and explanation around any issues faced and daily revenue drivers. The candidate will therefore have considerable interaction with the respective Front Office, Middle Office, Finance and Trade Capture teams so good communication and time management skills are an essential requirement for this job.
Primary products covered will include:
All Linear Product across Fixed Income, FX, Credit and Equities
Global Banking & Markets provides operations support to the Global Markets Business of BOAML. Key Business activities include back office and middle office operations related to securities, derivatives, futures, options, currencies (fx) and commodities. Key functions include Trade Processing & settlement, Inventory Management, Cash Management, Asset Services, Collateral Management, Reconciliation, Client & Product Data.
Production and reporting of daily P&L to Front Office & Senior Management.
Reconcile actual P&L with trader estimates and provide flash/actual variance analysis.
Working closely with the trading desks on position, P&L or other issues on an ad-hoc basis.
Front-to-Back analysis & reconciliations of front office p&l and balance sheet to firm sub-ledgers,
Assist with execution of month-end controls ensuring management vs financial P&L variances are within thresholds
Analyze traders’ risk positions and understand and apply the Greeks (Delta, Vega Gamma) vs daily market moves.
Would be typical own set of books/cost centre and Business Units
Liaise with various business partners such as Technology, Market Risk, Credit Risk, Operations and Finance to resolve issues / queries.
Development & continuous improvement of existing processes & workflow.
Testing / UAT for systems work ranging from minor system releases to major system implementations.
Remediation of issues in an autonomous yet timely manner considering the principles of control and the need to mitigate operational risk.
Postgraduate degree or Accounting qualification (e.g. Chartered Accountant – CA, MBA From Tier 2 Institutes etc)
Candidate must have 5-6 years experience in Markets with at least 2 years in P&L
Candidate should have a keen interest in the Fixed Income product set with a good understanding of the products used (see above) and their pricing
Good working understanding of Excel is a must; ability to troubleshoot spreadsheet issues is also critical
The right individual will have strong people skills and can multi-task to manage the challenges of Middle Office processes yet have the awareness to escalate potential issues to their supervisor in a timely manner
Candidate must have a proven track record of communicating effectively with personnel from various areas within an organization and at different management levels
Must be proactive and be a highly-motivated self-starter. Reactive and/or passive individuals need not apply
Mentor junior team members to help them grow and conduct strong oversight over all workflow & issues
Desired Skills :
Advanced education and/or enhanced technical qualifications are a plus
It would be advantageous if the individual has prior experience onshoring Finance, Middle Office or Operational workflow and implementing procedures and controls
Ability to use Access or VBA would enhance the candidate’s attractiveness significantly
Shift Timings :
1430 to 2330 Hrs IST