Assistant Manager

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*

The Global Finance was set up in 2007 as a part of the CFO Global Delivery strategy to provide offshore delivery to Line of Business and Enterprise Finance functions. The capabilities hosted include Accounts Payable, General Accounting & Reconciliations, Management Reporting & Analysis, Research & Analytics, Financial Transaction Processing, Finance Systems Support and Supply Chain Management. Over the years, the scope of Global Finance has been expanded to include operations for other enterprise control functions like Human Resources and Risk and Compliance.

Job Description*

Global Reconciliation Governance team ("GRG") within the Company's CFO Corporate Controller Group is an internal control responsible for providing enterprise-wide reconciliation governance model encompassing company level reconciliation requirements & driving compliance to enterprise-wide control policies & standards.

Balance sheet General Ledger (GL) reconciliation requirements are governed by the Enterprise Account Reconciliation Policy (ARP) & Standards (ARS) and General Ledger Account Usage and Manual Journal Entry Policy & Standards established by Global Reconciliation Governance.

Responsibilities*

• Completing reconciliation reviews to evaluate and report control points around the reconciliation process.
• Monitoring and review of manual journal entries ensuring segregation of duties as per policy requirements.
• Identifying underlying risk in reported recons and provide inputs for Dashboard preparation, GL impact determination and linkage of recon issues to Financial Statements.
• Partner with key business contacts and stakeholders to understand and address potential compliance issues and resolution of Dashboard open items.
• Provide subject matter expertise to reconciliation owners across the enterprise on policy interpretation, validate policy waiver / extension form requests from Line of Business and Approvers.
• Ensuring that all non-credit reconciliation related charge-offs and recoveries are identified and reported.
• Ability to question status quo, identify and implement process improvement / simplification within the process.
• Provide audit documentation and manage audit walkthroughs for external and internal audits conducted during the year for Global Reconciliation Governance process.
• Contribute to the development of internal guidance for GL AR and MJE policies and standards to ensure consistent and appropriate application across the Enterprise.

Requirements*

Education*

CA / CWA / CPA in Finance & Accounting

Certifications If Any NA

Experience Range*

3 to 6 years of experience in Finance, Accounting, Audit, Risk management

Foundational skills*

• Strong Accounting and Reconciliations domain experience
• Exposure to International Accounting and Reporting Standards (US GAAP’s, IFRS)
• Strong analytical and time management skills
• Able to work in a fast-paced environment
• Excellent written and verbal communication skills are necessary as the position requires global correspondence and communication with associates throughout the Bank of America footprint
• Proficient in use of MS Excel, Word, and PowerPoint

Desired skills

• Oracle and SAP experience
• Exposure to ET skills (Alteryx / Tableau)

Work Timings*

11.30 AM - 08.30 PM

Job Location*

Hyderabad