Location: Hyderabad, India
: About UsAt 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. Were 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 ServicesGlobal 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 OverviewStructured Products (Issuance Team) primarily deals with Warrants, Certificates, and notes and provides operation support to several desks regarding New Issuance/Increases & Defeasements for structured products. Reading the Termsheets/Pricing Supplements of these products and discerning the kind of Asset class assigns the identifiers and reconciles Booking Systems and manages settlements.
The team interacts with upstream to downstream groups as well as with external stakeholders such as Issuers, IPA (Issuing and Paying Agent), and Clearers.
The 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 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.
The Issuance Team is responsible for the execution of New Issuance/Increases and Defeasements for Structured Products. They need to ensure correct Identifiers are assigned to each trade depending on different Asset Classes, bookings align with the Term sheet/Pricing Supplement, and that all trades are properly captured in booking systems while 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 a timely manner as per the defined SLA.
Associates are expected to maintain good turnaround time and accuracy while processing New Issuance/Increases and Defeasements. They should 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. Provide operational support to Trading Desks/Products including Notes, Warrants, and Certificates across various programs. Interact with Treasury, internal and external counsel, Issuers, Agents, and Clearing Systems while coordinating several support units to ensure that the business receives a quality one-stop service. Perform self-review of data inputted in the back-office systems. Adapt to periodically changing processes. Work comfortably in multiple systems simultaneously. Maintain an eye for detail and adherence to policy guidelines.Excellent organizational skills are required, alongside the ability to prioritize workload and work accurately and efficiently under pressure. Flexibility in attitude and approach is expected, along with a strong desire to learn from day-to-day scenarios.
Requirements Education: Graduate and preferably MBA with a Finance background. Certification (if any): Any finance-related certifications. Experience Range: Experience in middle office support functions or operations functions for derivative products with a total experience of 6 years. Foundation 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, and verbal and written communication skills. Attention to detail and a quick learner able to adapt to new systems/procedural changes. Desired Skills Hands-on understanding of Process Controls, Risk in Global Markets, Regulations. Strong understanding of all asset classes, product lines, Fixed Income, and Equity products. Proficiency in MS Office applications. Learning agility, self-driven, and the ability to work under pressure and in a complex environment. Work Timings13:30 to 22:30 IST (UK Shift)
Job LocationChennai
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