Job at Bank of America (Job News): Bank of America is providing a Job as an Assistant Manager for various candidates of different areas. It is one of the best Assistant Manager Jobs available to candidates in India.
About Bank of America (Job News):-
The Bank of America Corporation (often abbreviated as BofA or BoA) is an American global investment bank and financial services holding company with headquarters in Charlotte, North Carolina.
Bank of America was founded in San Francisco in 1998 as a result of NationsBank’s acquisition of BankAmerica. After JPMorgan Chase, it is the second largest bank in the United States and the eighth largest bank in the world. Bank of America is one of the United States’ Big Four banking institutions.
It competes with JPMorgan Chase, Citigroup, and Wells Fargo for around 10.73 percent of all American bank deposits. Its principal financial services are focused on commercial banking, wealth management, and investment banking.
- Candidate should have a keen interest in the Fixed Income product set with a good understanding of the products used (see above) and their pricing
- Understanding of IFRS9 Product Accounting including AFS, MTM etc
- Good understanding of Financial Accounting, Balance Sheet & Income Statement concepts
- Understanding of Trade Life Cycle, Cash Flows, trade economics
- Understanding of daily PnL reporting, MTM/Attribute analysis, PnL commentary
- Good working understanding of Excel is a must; ability to troubleshoot spreadsheet issues is also critical
- The right individual will have strong people skills and can multi-task to manage the challenges of Middle Office processes yet have the awareness to escalate potential issues to their supervisor in a timely manner
- Candidate must have a proven track record of communicating effectively with personnel from various areas within an organization and at different management levels
- Must be proactive and be a highly-motivated self-starter. Reactive and/or passive individuals need not apply
- Mentor junior team members to help them grow and conduct strong oversight over all workflow & issues
- Knowledge of financial instruments such as Repo, deposits, derivative products etc.
- Advanced education and/or enhanced technical qualifications are a plus
- It would be advantageous if the individual has prior experience in on-shoring Finance, Middle Office or Operational workflow and implementing procedures and controls
- Ability to use Access or VBA would enhance the candidate’s attractiveness significantly
Roles & 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 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 P&L 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 centre and Business Units
- Liaise with various 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.
Qualification and Experience:-
- Graduate/ Post Graduate (MBA – Finance or equivalent) / CA
- Certifications including FRM, CFA etc if any would be added advantage
- 4-6 years in Finance Domain, with 2-4 years of experience with Product Control
- Mumbai, Maharashtra
- Gurugram, Haryana
- This Assistant Manager Job at Bank of America is available on Bank of America Careers Portal. You can apply to it here: Click Here
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