Assistant Manager

Job Description:

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!

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. In this regard, BF&C will ensure, 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 responsible for daily service delivery and ensuring effective controls, transparent management information and becoming a center of excellence delivering process simplification and efficiencies. We work closely with front office, middle office, traders and valuation control teams to drive the control agenda across the business.

Job Description*

(Provide a high level overview of the role and scope of responsibilities)

Global Markets Business Finance & Control (BF&C) seeks to provide a support service with particular focus 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 candidate’s main responsibility will be to produce and deliver the daily P&L to front office, providing a high standard of analysis and explanation around any issues faced and daily revenue drivers. The candidate will therefore have considerable interaction with the respective Front Office, Middle Office, and Finance and Trade Capture teams so good communication and time management skills are an essential requirement for this job.

Responsibilities*

• Primary products covered will include: Bonds, CDS, TRS, ETFs and Loans
• 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 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 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

Requirements*

Education*

Qualified Chartered Accountant/CPA /CFA / MBA from Tier I/II institute

Certifications If Any

• CFA / FRM certified candidates would be preferred
• Advanced education and/or enhanced technical qualifications are a plus
• Ability to use Excel Power Query or Alteryx would enhance the candidate’s attractiveness significantly

Experience Range*

2-7 years of experience in Global Markets

Foundational skills*

• Prior BFC experience for >2 years is mandatory
• Proficiency in MS Office Suite; expert knowledge of Excel, Word, PowerPoint. Knowledge of Visual Basic, Access databases and macros will be an added advantage.
• The right individual will have strong people skills and can multi-task to manage the challenges of Finance 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 and self-starter. Reactive and/or passive individuals need not apply

Desired skills

• Alteryx / Python / Tableau knowledge would be an added advantage
• Must be proactive and be a highly-motivated self-starter
• Effective communication skills with English proficiency
• Demonstrated ability to work in a high pressure environment
• Takes initiative and challenges existing processes and procedures in a proactive manner
• Strong team player
• Ability to analyze issues independently and derive solutions
• Analytical skills
• Inherent sense of principles of control through experience and sound judgment
• Reliability

Work Timings*

07:30 AM to 04:30 PM

Job Location*

Hyderabad/Gurugram/Mumbai

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List of Process / Business with best suited profile fitment for the role*

GBAM Finance - Business Finance and Controls