Securities Settlements Associate

Team Developer

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 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

EMEA Securities Settlements perform various functions like pre-matching, settlements, sufficiency, Depot Transfers and controls functions like margin, queue/break management, FOP and margin payments for few entities. We work on both equities and fixed income products. Maintaining client/broker relationship and keeping the market, credit, liquidity and operational risk to its minimum is key to the success. Teams interact with several different internal teams which are part of trade lifecycle and also with various counterparties externally to match/settle the trades.

Job Description

This is a great opportunity for someone looking to gain experience in the world of securities. The associate will be part of the Securities settlements team working in a fast paced and time sensitive environment. The successful candidate will be responsible for pre-matching, matching, Trade Narrations and timely settlement of trades-value date & failing trades, stock loan reconciliation, Depot Management functions across CREST, DOMESTIC & EUROCLEAR & Emerging markets. Although working individually, the success is measured at a team level, with internal targets and results being measured against the Line of Business external peer group on a regular basis. The level error free settlements, adhering to the regulators requirements Segregation Violations, Fines) and our success in the market versus our peer group is a key barometer in measuring the control of risk around the process.  The key to success is to ensure we settle all equity trades within tight deadlines as prescribed by the SLA. In a deadline driven environment, turnaround, accuracy and escalation are of high importance as we are at risk to market movements, traders P & L, client relationship, and the bank’s reputation including settlement risk. Sense of urgency and attention to detail are pivotal competencies required to perform the functions

Responsibilities

Pre matching & matching trades on VD-1 & VD with counterparties. Trades which are unmatched are to be identified, researched and actioned for resolution.

Reduce failing trades and increase settlement efficiency

Settle failing trades by liaising with various external clients, brokers, local agents & custodians

Reduce intercompany failing trades across.

Ensure Capital exposure is as per the levels fixed by the regulators

Ensure that there are no segregation violations as per SEC regulations and fines imposed by regulators are well below prescribed standards

Prioritize on reducing failing SELL trades to mitigate the risk of buy-in threat to the firm

Take necessary steps to ensure that  Buy-in threats are avoided to the firm as a result of failing   trades

Ensure Depot transfer requests are entered in the system are settled on time by liaising with Custodian, Client services

Ensure that breaks pertaining to stock loan are resolved within defined timelines

Researching on trades which are not recognized by CP and checking is it a valid and following the escalation procedure to make sure that trade settled on the same day or cancelled

Perform telephone confirmations on transactions due for settlement/matching

MIS, reporting of operational and trading exposures to management.

Responsible for clearing of items on the daily exception accounting reports

Maintain established productivity levels as per SLA.

Ensure that all established procedures are followed.

Meet or exceed all deadlines given as per SLA.

To be flexible in their attitude and approach, and be willing to work extra hours during the week with overflow of volume and to provide cover for holidays planned and unplanned.

Requirements

Education: Graduate/Post Graduate

Certifications If Any:

Experience Range: 3-5 yrs of relevant experience

Foundational skills:

Excellent organizational skills are required with the ability to prioritize daily workload, work accurately and efficiently under pressure.

Excellent Excel and PowerPoint presentation skills.

To be able to communicate effectively

Desired skills: Flexible

Work Timings: 1:30 PM – 11:30 PM

Location - Hyderabad

Experience Level

Entry Level