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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 Growth and delivering for our clients, teammates, communities and shareholders every day. Being a Great Place to Work is core to how we drive Responsible Growth. This includes our commitment to being an inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.
Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations.
At Bank of America, you can build a successful career with opportunities 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 responsible for the production and independent validation of Global Markets' profit and loss and balance sheet. The team is also responsible for running valuation controls to ensure fair value of balance sheet in accordance with internal valuation methodology and regulatory requirements. This includes independent price verification of both vanilla securities/derivatives and complex/illiquid assets such as exotic derivatives and distressed assets. Additionally, the team also calculates relevant valuation adjustments including adjustments for illiquidity, concentration, model limitations etc. as applicable. The team is also responsible for calculating and reporting prudential valuation adjustments on a quarterly basis.
The team works closely with front office, middle office, traders, valuation control and methodology (GVG) teams to drive the control agenda across the business.
Job Description
IPV Center of Excellence forms part of the GBAM CFO Group and is a control and business advisory function. The team’s work primarily covers valuation controls for various asset classes across Global Banking and Markets, with a dynamic book of work providing opportunities to centralize, enhance and implement best practices for global valuation routines.
We are looking to recruit an individual to work in the valuations control area for one of the asset classes within FICC Macro (Rates/FX/Commodities) / FICC Micro (Credit/Mortgages/Munis) / XVA / Equities businesses in Global Markets. The candidate’s main responsibility will be to perform Independent Price Verification, Valuation Adjustments, Prudent Valuations and Fair Value Hierarchy assessment, providing a high standard of analysis and explanation.
The candidate will therefore have considerable interaction with the respective Front Office, Finance and Global Valuations Group (GVG) teams so good communication and time management skills are an essential requirement for this job. The team is also encouraged to take part in employee engagement and diversity and inclusion initiatives to help continue to make Bank of America a great place to work.
Responsibilities
Requirements
Education : Qualified Chartered Accountant/CPA /CFA / MBA from Tier I/II institute with relevant experience in Valuation 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
Experience Range : 7+ years of experience in Global Markets Valuation Control or similar roles
Foundational Skills
Desired Skills
Work Timings : 12:30 PM to 9:30 PM IST
Job Location : Mumbai / Gurugram
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 Senior 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.