Team Developer

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

Global Markets Operations provides operations support to the Global Markets Business of Bank of America Merrill Lynch. Key Business activities include back office and middle office operations related to securities, derivatives, futures, options, currencies (FX) and commodities. Key functions includes Trade Processing & settlement, Inventory Management, Cash Management, Asset Services, Collateral Management, Reconciliation, and Client & Product Data.

The candidate should possess knowledge in Asset Services or skill gained through work experience in Global Securities Operations. It is an Individual Contributor role with responsibility to deliver critical to quality metrics for the lines of businesses that he/she supports. May recommend solutions to moderately complex problems lead or train other associates or supervise (functionally) highly routine work. The candidate should also possess leadership, communication and problem solving skills. The candidate may perform a specialist role in Asset Services function performing routine transactions or functional activities. The candidate may also perform specialist roles like quality control, process level reporting of metrics, special projects for the line of business, etc. Incumbents would be Graduates / Post Graduates with months of work experience with months of experience of Asset Services team.

The Asset Services Processing team will be responsible for the following:

- Processing Income and corporate action events for House/Prime brokerage clients

- Reconciliation of Cash breaks, control accounts, tax accounts and fee accounts

- Investigation and Resolution of client queries on a timely basis

Responsibility

Daily Processing of equity dividend events in an accurate, timely and consistent manner, in accordance with departmental procedures and to the agreed service levels.

Resolution of any processing issues and liaison with other areas of Bank of America Merrill Lynch including Settlements, Trading Desk Support, Client Service Representatives, Finance & Middle Office, Technology, Product Data Support, Client On boarding Services and global Asset Services Departments.  The job involves a high degree of daily communication and interaction with internal counter-parties, external custodians/agent banks and external clients.

Daily reconciliation of control, suspense and bank accounts and daily resolution of reconciling items.

Maintenance of customer service levels through speedy resolution of queries raised by Prime Brokerage clients

Daily allocation of client money.

Compliance with all relevant Regulatory and BofAML Control Standards and policy requirements.

To identify changes to processes and procedures that will improve control, efficiency, reduce risk and/or improve client services.

Participation in user acceptance testing programs new business projects.

Act as first point of escalation for Client Service Representatives, onshore management and offshore management.

Team & Process Performance on Data.

Reviewing common workbasket and workflow management.

Ensuring timely resolutions of Queries/clarifications.

Managing Team & K performance stats.

Review of Errors to identify process and or training issues and address accordingly.

Review of Reports and Metrics spreadsheet to identify gaps and address accordingly.

Review of Escalations and Expedites for due diligence by associates.

Process Escalations in accordance to documented process and follow through to closure.

Attendance at daily Escalation meeting and follow-up with associates thereafter.

Manage associates to timely closing of Request.

Train associates on process and procedures and provide ongoing support.

Work process and procedure gaps with LOB to closure.

Conduct routine team meetings.

Assist in hiring, and performance review of associates.

Education : Graduate in Commerce, Accounting, Management / Post Graduates / MBA

Certifications if any: NCFM or similar certifications. NCFM or similar certifications will be added advantage

Experience Range : 3 - 5 Years experience in Asset Service (Income or Corp Act) in International Bank – Dividend Process for Prime Brokerage Clients.

Claims Processing knowledge is a must

Foundational skills

Knowledge of Coupon Interest and Bond conversion  

Excellent MS Excel skills, knowledge of 6 Sigma tools

Desired skills

Good Communication skills, written and verbal and Advanced MS Office & Excel, 6 Sigma certified

Work Timings : 06: 30 PM till 03:30 AM IST

Job Location : Gurugram