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*

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 Rates 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

Primary products covered will include Fixed Income, Money markets, FX, interest rate derivatives both plain vanilla and exotics.

Responsibilities*

Production and reporting of daily P&L to Front Office & Senior Management

Reconcile actual P&L with trader estimates and provide flash/actual variance analysisWorking closely with the trading desks on position, P&L or other issues on an ad-hoc basisFront-to-Back analysis & reconciliations of front office PnL and balance sheet to firm sub-ledgersAssist with execution of month-end controls ensuring management vs financial P&L variances are within thresholdsAnalyze traders’ risk positions and understand and apply the Greeks (Delta, Vega Gamma) vs daily market movesWould be typical own set of books / cost center and Business UnitsLiaise with various business partners such as Technology, Market Risk, Credit Risk, Operations and Finance to resolve issues / queriesDevelopment & continuous improvement of existing processes & workflowTesting / UAT for systems work ranging from minor system releases to major system implementationsRemediation 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 with relevant experience in Product Control or Global Markets environment and organization of similar scale with US GAAP, IFRS, IAS reporting framework with an interest and aptitude for derivative products

 Certifications If Any

• CFA / FRM certified candidates would be preferred

• Advanced education and/or enhanced technical qualifications are a plus

Experience Range*

4 to 8 years with at least 4+ years’ experience in Global Markets Product Control role

Foundational skills*

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 mannerCandidate must have a proven track record of communicating effectively with personnel from various areas within an organization and at different management levelsMust be proactive and be a highly motivated self-starter.  Reactive and/or passive individuals need not apply

Desired skills*

Alteryx / Python / Tableau knowledge would be an added advantageMust be proactive and be a highly-motivated self-starterEffective communication skills with English proficiencyDemonstrated ability to work in a high pressure environmentTakes initiative and challenges existing processes and procedures in a proactive mannerStrong team playerAbility to analyze issues independently and derive solutionsAnalytical skillsInherent sense of principles of control through experience and sound judgmentReliability

Work Timings*

7 AM IST to 4 PM IST

Job Location*

Mumbai/Gurugram