Job Information
Bank of America Team Leader in Chennai, India
Team Leader
Chennai, India
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
Structured Products (Issuance Team) is primarily deals with Warrants, Certificates and notes and provide operation support to several desk regarding New Issuance/Increases & Defeasements for structured products. Reading the Term sheets/ Pricing Supplements of these products and discern the kind of Asset class assign the identifiers and reconcile Booking Systems and manage settlements.
Team interacts with upstream to downstream groups. Team also interacts with External Stakeholders such as Issuers, IPA (Issuing and Paying Agent) and Clearers
Job Description
Structured Products (Issuance Team) provides associates a unique opportunity to learn and understand how the trade is executed and settled on the market for primary Issuance. It provides the candidates a flavor of how changes in the market attribute to the trading volume and the way Terms and conditions are laid out for the investors regarding structured products.
Issuance Team is responsible for execution of New Issuance/Increases and Defeasements for Structured Products they need to ensure correct Identifiers are assigned to each of the trade depending upon different Asset Class, bookings are in line with Term sheet/Pricing Supplement and needs to ensure all trades are properly captured in bookings systems and are also matching with counterparty on Clearing systems.
Associates are required to partner/collaborate with internal and external stakeholders such as, Sales/Trading/Review Teams, Legal, Middle Office, Issuing Paying Agents etc. to ensure that all the regulatory and internal controls requirements are fulfilled in timely manner as per defined SLA.
The associates are expected to maintain good turnaround time and accuracy while processing New Issuance/Increases and Defeasements. Associates are expected to understand the product types and system capabilities to ensure smooth BAU.
Responsibilities
Work on Primary Issuance/Increases/Defeasements of Structured Product, Fixed Income, Equity and Derivatives.
Operational support to Trading Desks/Products including Notes, Warrants and Certificates across various programs.
The role involves interaction with Treasury, internal and external counsel, Issuers, Agents, Clearing Systems and entails the coordination of several support units ensuring that the business receives a quality one-stop service.
Perform self-review of data inputted in the back-office systems.
Ability to perform in a periodically changing process.
Comfortable to work in multiple systems at the same time.
Eye for detail and must be procedure focused to adhere to the Policy guidelines.
Excellent organizational skills are required with the ability to prioritize workload, work accurately and efficiently under pressure.
To be flexible in their attitude and approach; have a strong desire to learn from day-to-day scenarios.
Requirements
Education – Graduate and Preferably MBA with Finance Background
Certification If any - Any Finance related certifications
Experience Range – Experience in a middle office support functions or operations function for derivative products with a total experience of 5+ years
Foundational skills
Hands on understanding of Global Markets/Investment Banking business and basic knowledge of Structured Products, Trade Life cycle events
Strong analytical skills, mathematical ability, verbal, and written communication skills
Attention for detail and must be quick learner to adapt to new systems/procedural change
Desired skills:
Hands on understanding of Process Controls, Risk in Global Markets, Regulations
Strong understanding of all asset classes, product line, Fixed Income and Equity products
Hands on understanding of MS Office applications
Learning agility, self-driven and ability to work under pressure and in complex environment
Work Timings: 13:30 to 22:30
Job Location: Chennai
Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity and affirmative action, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other bases such as medical condition, marital status or any other factor that is irrelevant to the performance of our teammates.
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Bank of America aims to create a workplace free from the dangers and resulting consequences of illegal and illicit drug use and alcohol abuse. Our Drug-Free Workplace and Alcohol Policy (“Policy”) establishes requirements to prevent the presence or use of illegal or illicit drugs or unauthorized alcohol on Bank of America premises and to provide a safe work environment.
To view Bank of America’s Drug-free Workplace and Alcohol Policy, CLICK HERE .
Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations. Should you be offered a role with Bank of America, your hiring manager will provide you with information on the in-office expectations associated with your role. These expectations are subject to change at any time and at the sole discretion of the Company. To the extent you have a disability or sincerely held religious belief for which you believe you need a reasonable accommodation from this requirement, you must seek an accommodation through the Bank’s required accommodation request process before your first day of work.
This communication provides information about certain Bank of America benefits. Receipt of this document does not automatically entitle you to benefits offered by Bank of America. Every effort has been made to ensure the accuracy of this communication. However, if there are discrepancies between this communication and the official plan documents, the plan documents will always govern. Bank of America retains the discretion to interpret the terms or language used in any of its communications according to the provisions contained in the plan documents. Bank of America also reserves the right to amend or terminate any benefit plan in its sole discretion at any time for any reason.