Senior Operations Manager - Global Markets Business Finance & Control

Sr Operations Manager

Job Description:

About us*

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 all 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.

Process Overview*

Business Finance and Control (BFC) sits within the CFO Org and is mainly responsible to ensure strong financial controls along with enabling the business. The Global Rates (GR) BFC supports the GR business, which falls under Global Markets and specifically in the Global Market FICC division. The GR business includes 1) Linear Rates which is responsible for market making (linear rates product); 2) Cross Asset Structured Notes - Central Funding Desk (CFD) responsible to centrally manage and own the various exotic structured notes issued by the bank and 3) Non Linear Rates  – which consists of Structured Exotic Rates Products.

The GR BFC teams are responsible for assisting in Analysis & reporting of LR, CFD & NLR PnL and ensuring integrity, completeness, and accuracy of PnL data. Teams work closely with CPM front office desks and support them on various other initiatives to enable the business and ensure better controls.

Job Description*

Global Markets Business Finance & Control (BF&C) seeks to provide a 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 Global Rates 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, and Finance and Trade Capture teams so good communication and time management skills are an essential requirement for this job.

Responsibilities*

• Primary products covered will include: Bonds, LR, NLR TRS and CFDs

• 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 center and Business Units

• Liaise with various business partners such as Technology, Market Risk, Rates 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

Requirements*

 Education*

Qualified Chartered Accountant/CPA /CFA / MBA from Tier I/II institute

 Certifications If Any

• CFA / FRM certified candidates would be preferred

• Advanced education and/or enhanced technical qualifications are a plus

• Ability to use Access or VBA would enhance the candidate’s attractiveness significantly

 Experience Range*

10+ years of experience in Global Markets

 Foundational skills*

• Detailed Knowledge of product control and financial markets

• Should have good understanding of financial markets, Derivatives & structured notes-their hedging, funding, Rates risk etc.

• Prior BFC experience for >8 years is mandatory

• Proficiency in MS Office Suite; expert knowledge of Excel, Word, PowerPoint. Knowledge of Visual Basic, Access databases and macros will be an added advantage.

• The right individual will have strong people skills and can multi-task to manage the challenges of Finance 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 and self-starter.  Reactive and/or passive individuals need not apply

 Desired skills

• Alteryx / Python / Tableau knowledge would be an added advantage

• Must be proactive and be a highly-motivated self-starter

• Effective communication skills with English proficiency

• 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

• Analytical skills

• Inherent sense of principles of control through experience and sound judgment

• Reliability

Work Timings*

12:30 PM to 09:30 PM

Job Location*

Gurugram/Hyderabad

Experience Level

Senior Level