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Assistant Vice President - Sr Operation Manager

Employer
Bank of America Corporation
Location
Cherial Madhāpur, State of Andhra Pradesh, 508105 Warangal, Warangal, India
Salary
Competitive Salary
Closing date
Nov 29, 2022

View more

Job Role
Accounts Assistant
Sector
Finance
Contract Type
Permanent
Hours
Full Time
:

Overview (Bank overview, GBS India overview, Function Overview)*

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*

The Global Banking and Markets [GBAM] Finance seeks to provide a first-class 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 Equities trading desk.

Job Description*

The Global Banking and Markets [GBAM] Finance seeks to provide a first-class 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 Equities 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, Finance and Trade Capture teams so good communication and time management skills are an essential requirement for this job.

Primary products covered will include: All Equities based products

Responsibilities*

The business is constantly evolving and moving into new markets and products. Business Finance and Control plays a key role in enabling business activity in a robust control environment to support responsible growth. You will be actively encouraged to develop close working relationships with the business and other key support teams i.e. Legal Entity Controllers, Accounting Policy, Operations, Audit, Tax, Treasury, Technology and Risk Management.



Responsibilities:


Primary products covered will include: All Equities based products.
  • Ownership of the Team's daily & Monthly processes
  • 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 p&l and balance sheet to firm sub-ledgers,
  • Assist with execution of month-end controls ensuring management vs financial P&L variances are within thresholds
  • 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.
  • Ensure validity of allocated/attributed balances as well as internal funding charge
  • Determining and implementing appropriate accounting policies and procedures with Accounting Policy
  • Managing key legal entity, regulatory and PL issues with the business
  • Month end Close, including Financial disclosures, calculation / recording accounting classification entries
  • Contributing to Governance process, operational error reporting and support of other internal control process, including Self-Identified Audit Issue and Operational Risk remediation

Operational Effectiveness
  • Leading role in driving team projects, including automation and process enhancement;
  • Ensure all front to back breaks are understood, and escalated in accordance with standards
  • Ensuring a minimum of manual, stand alone processes are maintained. Where tactically used, ensuring a strategic solution is being sought.
  • Accurate analysis and recording of operational loss events;

Business Partnering
  • New Product Review - Involvement in completion of New Product Review documentation for new businesses / products proposed by your trading desk, and the implementation of systems and process changes / improvements that are required
  • Development and production of Financial Reporting for business reviews
  • Review Monthly financial and key performance metrics with Business and discuss key business strategy and plan

Requirements*

Education*
  • Education Qualification: Postgraduate degree or Accounting qualification (e.g. Chartered Accountant - CA, CFA L-3, FRM, MBA from Tier 1 Institutes etc.)

Certifications If Any

Experience Range*
  • Experience: 10-12 Years of Industry, Finance or Product Control, Valuation control or market risk experience

Foundational skills*
  • A good leader with efficient people management skills.
  • Strong communication, organization, presentation and interpersonal skills, be able to establish strong working relationships with a board range of stakeholders, ability to influence team at remote locations
  • Strong business sense and control mindset, demonstrable risk identification and management
  • Strong analytical and problem solving skills with a demonstrated ability to analyze business processes and workflows and deliver required project to a high standard
  • Ability and confidence to tackle new concepts and ideas associate with on going change in the business
  • Ability to build SME knowledge within the group - provide appropriate level of business, product & process training to the peers & teams
  • Ability to juggle multiple tasks and responsibilities
  • A 'Can do' attitude, self-driven and proactive, be innovative and have the ability to generate new and creative ideas
  • Attention to detail, strong Excel skills, good working knowledge of accounting concepts
  • Good understanding of Global Market business and relevant experience is preferred
  • Candidates with emerging technology (Alteryx, Tableau, Workvia) experience is preferred

Desired skills
  • 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

Work Timings*
  • Weekly Offs : Saturday & Sunday
  • Timing: 8:00 AM to 5:00 PM

Job Location*

Hyderabad/Mumbai

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