Sr Operations Manager

About UsAt 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 Were 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 ServicesGlobal 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 OverviewGlobal Markets Operations Middle Office provides operations support to the Global Markets Business of BAML Key Business activities include back office and middle office operations related to securities derivatives futures options currencies FX and commodities Key functions in the middle office include trade control product control and balance sheet management While in the operations groups the key functions are Trade Processing settlement Inventory Management Cash Management Asset Services Collateral Management Reconciliation Client Product Data management Global Collateral Operations manages the margining for the OTC Repo Derivatives Foreign Exchange businesses and Repo agreements Collateral Management is a tool to control reduce the bank s credit exposure risk on Derivative trades The Collateral Operations Unit monitors daily margining for customers across various products Rates Commodity Structured Credit Equity Foreign Exchange and Repo Futures Options The Counterpartys net exposure is evaluated each morning in order to determine collateral requirement Margin Calls are made and received by Collateral Analyst and collateral exchanged Team is also responsible to perform Data quality checks monitor feeds from upstream into collateral system run margin calculations onboarding static setup of new agreements into collateral application Security Optimization Journal processing liquidity and regulatory reporting Responsibilities Supervise a team of employees towards achieving all the above objectives train guide coach team members Effective communication deliver transparent concise and consistent messaging while influencing and leading - drive change across teams Partner with individual contributors and onshore partners regarding capacity planning performance development skill sets learning opportunities MIS reporting of operational and trading exposures to management Accountable for understanding interpreting and communicating regulatory reporting requirements as well as for ensuring that all report submissions conform to regulator instructions Responsible for establishing an adequate control environment to assess accuracy and completeness of reports Establish priorities to ensure timely and accurate completion and escalate and resolve issues Working across lines of business participate in process risk assessments and the rollout of standard Risk Framework on controls and processes and determine gaps and exposure Design and publish appropriate metrics for operations control Working closely with clients margin management teams in setting up client valuation reporting Address client demands and questions on portfolio valuations Generate and publish daily control reports including MTM Swings cash security fails zero MTM Stale prices open aged calls etc Setting up agreements for margin management Take responsibility for front-ending the relationships with the Line of Business Teams and Leaders and further build expand the capabilities Requirements Education UG PG Certifications if any NA Experience Range 15 years Foundational Skills Minimum 5 or more years of previous management supervisory experience Ability to work effectively and collaboratively with peers and multiple levels of management Excellent communication skills both verbal and written Strong knowledge of investment banking capital markets Derivatives logical and analytical skills Excellent organizational skills are required with the ability to prioritize daily workload work accurately and efficiently under pressure To be flexible in their attitude and approach and be willing to work extra hours during the week with overflow of volume and to provide cover for holidays planned and unplanned To be able to communicate effectively and clearly escalate queries to clients and Onshore Team verbally and written Maintain established productivity levels as per SLA Desired Skills Experience in Reporting ISDA CSA agreement setups client valuation OTC Repo F O Derivative Collateral Management Portfolio Reconciliations Margin Management Knowledge of regulations such as Dodd Frank EMIR CFTC etc would be and added advantage Market knowledge on Derivatives Fixed income recent trends and global changes Work Timings 01 30 PM IST - 12 30 AM IST any 9 hours window Job Location Gurugram