Job Description

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* Loan Servicing Operations supports existing Commercial Lending products and services (Syndicated Bilateral Loans). These services include updating customer and loan information, responding to client and business partner enquiries, managing financial and non-financial transactions, generating bills and invoices, and providing customer support and general maintenance through the life of the loan. Job Description* Dedicated Servicing Team (Agented/Part-bought) supports Syndicated Loans servicing both As Agent and in Part-bought lender capacity, mainly for US region relationships. Servicer-1 works on various financial transactions and non-financial service requests received from Clients/Agent banks. Loan IQ is the System of Record to process all such transactions. Responsibilities* Comprehending notices/incoming requests from Client/Agent Bank/Lenders and verifying/updating details in workflow tool Timely and accurate assignment of requests from workflow tool to processors Validating payment instructions/ notices and releasing advances/wires/notices to clients, lenders Agent Banks on Loan IQ Actioning on periodic rate changes, rollovers, advances, payments, conversions on Loan IQ and Fronted Letter of Credit for Large Corporates Updating system of record while adhering to standard operating procedure and guidelines Managing manual matching and timely monitoring of wire matching automation, its reporting and working on manual matching Understanding of General Ledger postings and past dues Timely action, resolution and reconciliation of financial breaks/past dues and following escalation matrix as when needed. Effective communication and coordination with fellow team members, managers, and other stakeholders (agent banks/lenders). Timely action on preparation and distribution of Delayed Investor Funding Report to stakeholders. Taking ownership of assigned portfolios/service requests/transactions and ensuring service request completions within turnaround time. Adherence to the Business Deliverables, SLA (Service Level Agreement) and Accuracy. Requirements* Education* B Com, M Com, MBA (graduation in finance stream) Certifications - If Any Experience Range* 2-4 Years of relevant experience Foundational Skills* Overview Navigation of Loan IQ Advanced Overview Navigation of iCon/GSS Advanced Overview Navigation of Clearpar Advanced Banking Markets Knowledge - Closing Settlements, Loan Trade Servicing Assignments, Primary Secondary Markets Proficient Reconciliation - Understanding on GLs, Past dues etc. Proficient Commercial Business Banking Lending - Basic Overview, Credit Product Knowledge, Loans Life Cycle Credit documents Proficient Loan Servicing (Bilateral and Syndication) - Overview, types of Facilities, roles of different parties, Advances, Payments, Pricing Change, Renewals/Rollovers, Conversions, Fees, LCs, and Loan Maintenance Proficient Attention to Detail Expert Communication Skill - Verbal/Written Advanced Flexible and Open-Minded Proficient Customer Focus Proficient Stakeholder Management Network/Relationship Building Proficient Critical Thinking Proficient MS Office (Excel, Word, PowerPoint) Proficient Desired Skills* Functional knowledge of AI/ML tools Proficient Operational Risk - Inadequate or failed internal processes, people, and systems or from external events Proficient Global Payment Product/Ops knowledge - Wire Transfer, Direct Debit, ACH, Swift etc. Proficient Active Listening Proficient Team Building Proficient Numerical Ability Proficient Overview Navigation of WorkFusion Proficient Data Management Dashboard Tools - Tableau, Alteryx, SharePoint etc. Proficient Work Timings* 18.30 hrs - 03.30 hrs (US Region) 19.30 hrs- 04.30 hrs (US Region) Job Location* GIFT City