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Applications are open for the Manager post in Mumbai.
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. We do this by driving Responsible Expansion and producing for our client organisations, teammates, communities and shareholders every day.
Being a Great Place to Work and offering a culture of caring is core to how we drive Responsible Development. We are intentional about fostering an inclusive workplace where every teammate has the prospect to succeed, develop a career and contribute to our shared success. This includes attracting and creating exceptional talent, recognizing and rewarding performance, and supporting our teammates’ physical, emotional, and financial wellness through affordable, competitive and flexible benefits.
We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve.
Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while giving an appropriate level of flexibility based on position-specific responsibilities and business needs.
At Bank of America, you can establish a successful career with prospects to learn, grow, and make an impact. 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 accountable for the production and independent validation of Global Markets' profit and loss and balance sheet. In this regard, BF&C will secure, 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 tasked with daily service delivery and guaranteeing effective controls, transparent management information and becoming a center of excellence producing process simplification and efficiencies. We work closely with front office, middle office, traders and valuation control teams to drive the control agenda spanning the business.
Job Description*
Global Markets Business Finance & Control (BF&C) seeks to offer a support service with particular centre 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 Credit Trading desks. The person’s main responsibility will be to produce and provide the daily P&L to front office, delivering a high standard of analysis and explanation around any issues faced and daily revenue drivers. The person will therefore have considerable interaction with the respective Front Office, Middle Office, and Finance and Trade Capture teams so good communication and time management capabilities are an essential requirement for this job.
Responsibilities*
• Primary products covered will include: Bonds, CDS, ETFs, TRS and Loans
• Production and reporting of daily P&L to Front Office & Senior Management
• Reconcile actual P&L with trader estimates and deliver 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 PnL and balance sheet to firm sub-ledgers
• Assist with execution of month-end controls ensuring management vs financial P&L variances are within thresholds
• Analyze traders’ risk positions and understand and apply the Greeks (Delta, Vega Gamma) vs daily market moves
• Would be typical own set of books / cost center and Business Units
• Liaise with several 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
Expectations*
Education*
Qualified Chartered Accountant/CPA /CFA / MBA from Tier I/II institute
Certifications If Any
• CFA / FRM certified people would be preferred
• Advanced education and/or enhanced technical qualifications are a plus
• Capacity to use Access or VBA would enhance the jobseeker’s attractiveness significantly
Experience Range*
5+ years of track record in Global Markets
Foundational capabilities*
• Detailed Know-how of product control and financial markets
• Prior BFC experience for >4 years is mandatory
• Proficiency in MS Office Suite; expert grasp of Excel, Word, PowerPoint. Understanding of Visual Basic, Access databases and macros will be an added advantage.
• The right individual will have robust people abilities and can multi-task to oversee the challenges of Finance processes yet have the awareness to escalate potential issues to their supervisor in a timely manner
• Jobseeker must have a proven track record of communicating productively with personnel from several areas within an organization and at different management levels
• Must be proactive and be a highly motivated and self-starter. Reactive and/or passive individuals need not apply
Desired competencies
• Alteryx / Python / Tableau grasp would be an added advantage
• Must be proactive and be a highly-motivated self-starter
• Effective communication capabilities with English proficiency
• Demonstrated aptitude to work in a high pressure environment
• Takes initiative and challenges existing processes and procedures in a proactive manner
• Sound team player
• Capacity to analyze issues independently and derive solutions
• Analytical competencies
• Inherent sense of principles of control through experience and sound judgment
• Reliability
Work Timings*
1:30 PM to 10:30 PM
Job Location*
Hyderabad / Mumbai
Eligibility typically includes the qualifications and experience outlined in the job description above, with around 0-5 Years years of relevant experience expected for this role.
The key responsibilities for this role are detailed in the Key Responsibilities section above, covering the core duties expected of a Manager at Bank of America.
This role requires around 0-5 Years years of relevant experience, as specified in the job listing. Please refer to the Qualifications & Experience section above for full details.
Skills relevant to this position are outlined in the Qualifications & Experience section above. In general, strong communication, domain knowledge, and the ability to meet role-specific targets are valued across similar BFSI positions.
You can apply directly using the Apply Now button on this page, which will take you to Bank of America's application process for this role.