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*
The Global Middle Office seeks to provide first-class support service to its various internal clients with a particular focus on the relationship between trading risk positions. The Trade Control teams are split in varied locations across New York, London, Chester, Singapore, Charlotte and India. The primary internal clients will be Front Office and Middle Office; however there will interaction with Front Office traders can occur over time as additional processes are transitioned. The primary responsibility is to ensure, issues arising with a trade either at execution, expiry or throughout the lifecycle of the trade are escalated and resolved on T+0/T+1.
Trade support is responsible for tracking the trade flow and making sure that there is an element of risk management and control. This team identifies errors and raises them to the desk. Verify accuracy of risk and P&L required for trading. Oversee end to end reconciliations of firm positions and trade bookings. Partner with other FO/MO and BO teams globally to resolve issues. Active participation in new business initiatives and large scale system transformation and migrations projects.
Job Description*
The incumbent in this role will act as Settlement Specialist in India for Global FICC Settlements
This role is primarily responsible for managing OTC Derivatives Settlement team as per the SLAs outlined by the Line of Business. The role also demands support to various process related project initiatives, stakeholder management, risk management, handling escalations, addressing queries of settlement & investigations teams.
Business Results
- Anticipates risks and obstacles and devises plans to manage them
- Pursues aggressive goals and continuously raises performance expectations to achieve excellence
- Appreciates the cost impact of actions and is commercial in decision making
- Promotes continuous learning and development
Personal Effectiveness
- Takes personal ownership for delivering superior services to clients
- Makes tough decisions when they are needed and acts quickly in getting things done
- Demonstrates the courage to express or defend unpopular decisions
- Maintains a constructive, positive outlook even when plans are thwarted
Planning and Organization
- Manages own time well, agreeing priorities. Multi-tasks effectively, work well under pressure and meets tight and changing deadlines.
- Organizes and runs effective meetings and workshops
Communication Skills
Communicates clearly and concisely, verbally and in writing, at all levels within the organization
Requirements*
Education* Post Graduate - Ideally Chartered Accountant or MBA Finance
Experience Range* Overall experience of 5+ years with 2+ years of experience in Settlement function within an Investment Banking or Buy Side environment.
Mandatory skills*
- Strong communication & negotiation skills across all levels of seniority including especially with the Trading desk
- Ability to work autonomously and deliver results in a high pressured environment
- Logical approach to problem solving and ability to priorities multiple tasks
- Proven analytical skills including data reconciliation and interpretation
- Strong attention to detail and accuracy with an ability to notice minor discrepancies / issues
- Ability to identify and deliver process improvements
- Relationship management skills
- Stakeholder management
- Structured and logical thinker
- Strong assertiveness, listening, influencing and diplomacy skills.
Work Timings*
- EMEA/US – Should be flexible
Job Location*
Gurugram