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

Collateral plays a crucial role in the credit risk management process of the bank for Over-the-counter Derivatives business. Process helps in mitigating credit risk by evaluating the exposure with clients on daily basis and collecting Collateral from counterparties for high-risk trades until maturity. It includes sending/receiving collateral calls with clients, making collateral bookings in system, cash/securities transfers, managing cash flows, accounting breaks investigation and resolution.

It requires complete understanding of Investment banking domain, derivatives trade life cycle, Global Markets technology platforms and in-depth understanding of process. Analyst is expected to have an eye for detail and communicate effectively with corporate clients, front office/sales team, credit risk group, senior business leaders etc. The Dodd-Frank regulatory changes in US had a cascading effect on Collateral process. Major process and technology changes are being made in this regard to ensure Bank of America is in compliance with the rules laid down by the regulators. Analyst should gain thorough understanding of changes in Capital markets business and implications of Dodd-Frank regulations on Global Markets Operations.

Job Description

The associate will be part of the Collateral Management team working in a fast paced and time sensitive environment. In a deadline driven environment, turnaround, accuracy and escalation are of high importance as we are at risk to market movements, traders P & L, client relationship, and the bank’s reputation including financial risk. A sense of high priority is vital.

Responsibilities

Work on daily collateral margin process.

Send margin calls to clients as derived through system calculations taking net exposure in consideration between BAML and counterparty.

Making cash, securities bookings in the system for collateral movement Verification of cash flows to authorize settlements/funds transfer.

Review incoming margin calls from counterparties, validate calculations in our internal system and agree for collateral movement.

Settlement of monthly interest with clients on cash collateral pledged/held.

Resolve cash and securities breaks/exceptions arising from collateral bookings. Follow up with clients for any cash fails or failed collateral transfers.

Working closely together with Static data team, Client onboarding team, Documentation group etc and clients to ensure accurate information is updated within our processing database.

Requirements

Qualification - Graduation / PG in commerce/accounts/management from a recognized university

Experience - 3 - 7 Years in Derivative Collateral / Investment banking( any domain)

Foundational Skills

Mandate experience in Derivative Collateral / Investment banking( any domain)

Good analytical skills

Desired Skills

Good communication skills

Shift timings : 6:30 pm- 3:30 am IST

Work location - Hyderabad & Gurugram.