AMVETS Jobs

Assistant Manager

Gurugram, 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

The UMR is responsible for assisting in Projects for CPM desk managing UMR, Process automation, Process Development or provide solutions through prototyping.

Job Description

The GCO IM Control & Monitoring Team is part of the Global Business Services Team. This team is responsible to accurately compute & report Independent Amount (IA) of the counterparties and also assist in dispute resolution with the counterparties. The team provides:

2nd level support for Dispute Management post Collateral Operations population validation i.e. Correlation issues resulting in fallback calculation, risk factor mapping issues, missing risk sensitivities, risk discrepancies, low exceptions in the risk engine, etc.

Escalate to Counterparty Portfolio Management (CPM) where required providing necessary explains on the discrepancies found.

Assess internal results for errors and provide assessment of counterparty calculators for reasonableness.

Responsibilities

Daily Risk validation and Analysis

Review and validate new risk measures to be used by the SBA model

Explain the daily primary and secondary risk sensitivities for OTC derivatives

Investigate discrepancies in the calculated number by performing independent trade valuation

Communicate daily with FO and technology partners on issues and discrepancies discovered

Process Improvement

Identify issues and control gaps in existing infrastructure

Work with technology team to streamline our processes and enhance data integrity and control

Project Management

Accountable for the success of small projects or sections of larger ones

Responsible for the quality and timeliness of all project deliverables and well as the implementation of relevant project management practices (status reporting, issue tracking etc)

Day to day responsibility for managing the project with line, technology and other partners

Education

Master’s Degree in Finance, Economics or Financial Quantitative Analysis from Tier 1 College

Certifications:

FRM/CFA is good to have

Experience Range

At least 3-5 years of experience working on derivatives

Foundational Skills

Derivatives , Product Control, VAR analysis.

Strong analytical skills

Desired Skills

Model understanding, Previous experience of working with models is preferred choice

Python programming experience is good to have

Excellent communication skills

Shift Timings - 12 pm to 9 pm

Job Location : Gurugram

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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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.