Articled Assistant

Team Leader

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.

Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us!

 

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

Structured Products Deal Review Team is part of the Global Middle Office (GMO) Team. Structured Products Deal Review (SPDR) team is control process designed to reduce risk for trades booked in Bank Proprietary systems. Team is responsible for ensuring trade economics for complex trades already recorded by the Booking Team in the system are correct according to Termsheets/Pricing Supplements.

Job Description

Structured Products Deal Review Team needs to understand products by reading thoroughly Termsheets/Pricing Supplements and review the details in Booking System and interact with upstream teams for any amendment or corrections. This is a live process which is volume driven and all the reviews are to be completed on the same day and Approved in the system. Any misses in review or approval will have consequences of incorrect reporting which can lead to Ops Risk.

Associates are required to have thorough understanding of Equity and FICC Structured Products that involve Exotic Options and should discern the Type of Product based on Pay Off presented in Termsheets/Pricing Supplements. Team is required to partner/collaborate with Booking and Treasury Teams on a live basis to ensure that all the regulatory and internal controls requirements are fulfilled in timely manner as per defined SLA.

The associates are expected to maintain 100% turnaround time and accuracy across all deal reviews. Associates are expected to understand the product types and system capabilities to ensure smooth BAU.

Responsibilities

• Work on tasks related to Structured Products, Fixed Income, Credit, Commodity and  Equity Derivatives.
• Strong adaptability skills to keep the focus on delivering for the business
• Operational support to products including Notes, Warrants and Certificates across various programs.
• The role involves liaison with Treasury, internal teams ensuring that the business receives a quality one-stop service.
• Perform self-review of data input in the Booking systems.
• Ability to perform in a periodically changing process
• Comfortable to work in multiple systems at the same time
• Eye for detail and procedure is a must to adhere to the Policy guidelines.

• Excellent organizational skills are required with the ability to prioritize workload, work accurately and efficiently under pressure.
• To be flexible in their attitude and approach; have a strong desire to learn from day to day scenarios.

Requirements*

Education*

Graduation/ Post Graduation or an equivalent qualification (CFA, FRM or Any Finance related certifications)

Certification If any - CFA, FRM or Any Finance related certifications

Experience Range*

5- 7 years

Foundational skills*

• Experience in a middle office support functions or operations function for derivative products with a total experience of 6+ years
• Hands on understanding of Global Markets/Investment Banking business and basic knowledge of Equity and FICC Structured Products,
• Strong analytical skills, mathematical ability, verbal, and written communication skills
• Hands on understanding of Process Controls, Risk in Global Markets, Regulations
• Strong understanding of all asset classes, product line, Fixed Income and Equity products

Desired skills

• Attention for detail and must be quick learner to adapt to new systems/procedural change
• Hands on understanding of MS Office applications
• Learning agility, self-driven and ability to work under pressure and in complex environment

Work Timings*

13:30 to 22:30 IST (UK Shift)

Job Location:

Chennai

Experience Level

Senior Level