Jobs at Bank of America (Now Hiring) — 3,604 open — Page 14

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. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.

Being a Great Place to Work and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates’ physical, emotional, and financial wellness through affordable, competitive and flexible benefits.

We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve.

Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs.

At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

Global Business Services

Global Business Services (GBS) 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

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 Equities trading desk.

Job Description

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 Equities trading desks (EES). 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: TRS swaps (single stock and index), SBL, financing products, options.

Responsibilities

The business is constantly evolving and moving into new markets and products. Business Finance and Control plays a key role in enabling business activity in a robust control environment to support responsible growth. You will be actively encouraged to develop close working relationships with the business and other key support teams i.e. Legal Entity Controllers, Accounting Policy, Operations, Audit, Tax, Treasury, Technology and Risk Management.

Responsibilities:

• Ownership of the Team’s daily & Monthly processes
• 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
• 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.
• Ensure validity of allocated/attributed balances as well as internal funding charge
• Determining and implementing appropriate accounting policies and procedures with Accounting Policy
• Managing key legal entity, regulatory and PL issues with the business
• Month end Close, including Financial disclosures, calculation / recording accounting classification entries
• Contributing to Governance process, operational error reporting and support of other internal control process, including Self-Identified Audit Issue and Operational Risk remediation

Operational Effectiveness

• Leading role in driving team projects, including automation and process enhancement;
• Ensure all front to back breaks are understood, and escalated in accordance with standards
• Ensuring a minimum of manual, stand alone processes are maintained. Where tactically used, ensuring a strategic solution is being sought.
• Accurate analysis and recording of operational loss events;

Business Partnering

• New Product Review - Involvement in completion of New Product Review documentation for new businesses / products proposed by your trading desk, and the implementation of systems and process changes / improvements that are required
• Development and production of Financial Reporting for business reviews
• Review Monthly financial and key performance metrics with Business and discuss key business strategy and plan

Education

• Education Qualification: Postgraduate degree or accounting qualification (e.g. Chartered Accountant – CA, CFA L-3, FRM, MBA from Tier 1 Institutes etc.)

Certifications If Any

Experience Range

5 - 7 Years of Industry, Finance or Product Control, Valuation control or market risk experience (esp. experience in delta-one business / equity swaps)

Foundational skills

• Strong working knowledge of Equity EES and Delta and the associated risks and payoffs
• A good leader with efficient people management skills.
• Strong communication, organization, presentation and interpersonal skills, be able to establish strong working relationships with a board range of stakeholders, ability to influence team at remote locations
• Strong business sense and control mindset, demonstrable risk identification and management
• Strong analytical and problem solving skills with a demonstrated ability to analyze business processes and workflows and deliver required project to a high standard
• Ability and confidence to tackle new concepts and ideas associate with on going change in the business
• Ability to build SME knowledge within the group - provide appropriate level of business, product & process training to the peers & teams
• Ability to juggle multiple tasks and responsibilities
• A ‘Can do’ attitude, self-driven and proactive, be innovative and have the ability to generate new and creative ideas
• Attention to detail, strong Excel skills, good working knowledge of accounting concepts
• Good understanding of Global Market business and relevant experience is preferred
• Candidates with emerging technology (Alteryx, Tableau, Workvia) experience is preferred

Desired skills

• Demonstrated ability to work in a high pressure environment
• Takes initiative and challenges existing processes and procedures in a proactive manner
• Strong team player
• Ability to analyze issues independently and derive solutions

Work Timings

08:30 AM to 5:30 PM

Job Location

Mumbai