Team Member

Team Member

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

Bank of America Merrill Lynch’s Global Banking and Markets (henceforth referred to as GBAM) franchise is a global powerhouse providing institutional clients worldwide with access to our leading sales and trading and research franchises, investment banking services and product innovation. Through our platform, we serve institutional, corporate and commercial clients in the U.S. and internationally, with a broad range of products and services.

Global Banking Operations teams are responsible for operations of commercial, corporate, investment banking and government clients, as well as small business and business banking clients. These teams deliver end-to-end services and operations. Global Markets Operations supports institutional and commercial clients and the Bank’s regional technology and operations teams.

The GBAM Ops Tax & Control team performs various tax related processes across GBAM Operations. GBAM Operations Tax & Control ensures compliance with federal, state and local tax regulations in the U.S. and in numerous jurisdictions across the globe. The functions performed are key to ensuring adherence to tax regulatory requirements, both for the Bank and our clients, mitigating financial risks, and maintaining client satisfaction.

Team supports Collect Tax Documentation, Withhold/Remit Process, Affiliate Tax Form Requests and Legal Entity Classification.

Job Description

The individual will be a contributing member of the GBAM Ops Tax & Control team, responsible for delivery of high quality results on various mandates that the team is working in partnership with various teams within Operations, Technology and Finance.

Responsibilities

• Perform Tax Operations related tasks assigned as part of BAU delivery
• Work closely with SMEs for knowledge transfer, process documentation and defining and building of controls to ensure smooth BAU delivery
• Support ad-hoc requirements of testing and validation arising out of system conversions
• Create and publish MIS reports to stakeholders on the exceptions and highlight the risk. Evaluate the reports from time to time, identify opportunities to improvise and drive changes
• Proactively communicate and ensure visibility to leadership on the upcoming technology changes/enhancements, Deployment Plan, Impact Assessment based on the scope – Process/procedures, Associate, Systems etc. & lessons learnt
• Act as project coordinator for various OpEx initiatives underway. Work with various teams to drive the agenda and report progress in a routine manner

Requirements

• Knowledge about the Global Financial Markets and different financial products spread across the asset classes namely FX, Interest Rate, Equity, Commodity, Credit
• Eye for detail and must be procedure focused to adhere to the Policy guidelines
• Ability to quickly understand and drive Front-to-Back Workflow, articulate, understand full product / transaction life-cycle and execute assigned tasks
• The incumbent needs to be exceptionally good with numbers and should be well versed with the excel operations
• Effective communication skills: Incumbent is expected to engage with different senior stakeholders to discuss the under lying root cause of the issue.
• Excellent organizational skills to track multiple concurrent activities and keep leads updated on progress
• Excellent Stake holder management (internal & external) across regions / functions / lines of business
• Should be a keen learner and should be an initiative-taker

Education

Qualification - Graduate in finance/related field.

Experience Range

Experience - 0-4 years of experience in Operations delivery

Foundational Skills*

• Experience in US / International Tax Operations
• Tax form solicitation, prior experience in Tax Documentation. (W8/W9/FATCA/CRS Forms)
• Review change in reference data with potential Tax documentation impact.
• Validation of tax documentation, reviewed against regulatory requirements for validity
• Withholding and Remittance - Calculating payments or applying withholding tax as applicable.
• Tax reporting (1099 and 1042 S) - Reporting account holder and payment information to required regulators and/or clients.
• Eye for detail and must be procedure focused to adhere to the Policy guidelines
• Ability to understand and drive Front-to-Back Workflow, articulate and understand full product / transaction life cycle
• Excellent Stake holder management (internal & external) across regions / functions / lines of business
• Excellent verbal and written communication/presentation skills

Desired Skills*

• Project management skills

Work Timings

Flexible to work in Shifts

Job Location Chennai