Manager at Bank of America

Gurugram, haryana, India -

Full Time

Start Date

Immediate

Expiry Date

02 May, 26

Salary

0.0

Posted On

01 Feb, 26

Experience

5 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

Product Control, Financial Markets, P&L Production, Risk Analysis, Communication Skills, Time Management, Excel, VBA, Analytical Skills, Team Player, Control Principles, Proactive Approach, Problem Solving, Attention to Detail, Process Improvement, Financial Analysis

Industry

Banking

Description

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* Global Markets Business Finance & Control (BF&C) is a division of Global Banking & Markets (GBAM) Finance responsible for the production and independent validation of Global Markets' profit and loss and balance sheet. In this regard, BF&C will ensure, inter alia, that accounting policies are correctly and consistently applied, and that trading portfolios are appropriately valued. The team prepares and reports P&L and balance sheet to the business and ensures the accuracy and integrity of the general ledger. We are responsible for daily service delivery and ensuring effective controls, transparent management information and becoming a center of excellence delivering process simplification and efficiencies. We work closely with front office, middle office, traders and valuation control teams to drive the control agenda across the business. 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 Credit 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, CDS, ETFs, TRS and Loans • 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 PnL 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, Credit 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* 5+ years of experience in Global Markets Foundational skills* • Detailed Knowledge of product control and financial markets • Prior BFC experience for >4 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* 1:30 PM to 10:30 PM Job Location* Gurugram / Hyderabad / Mumbai 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! Partnering Locally Learn about some of the ways Bank of America is making a difference in the communities we serve. Global Impact Learn about the six areas that guide Bank of America’s efforts to help make financial lives better for customers, clients, communities and our teammates. Opportunity and Inclusion Each employee brings unique skills, background and opinions. We see opportunity and inclusion as our platform for innovation and a key component in our success. Our Values Learn about our four values that represent what we believe.

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Responsibilities

The candidate will produce and deliver the daily P&L to the front office, providing analysis and explanations around issues and revenue drivers. They will also work closely with trading desks and various business partners to ensure accurate reporting and effective controls.