Bank of America Hiring for Team Leader at Gurgaon Full Time

Job Description:

Overview (Bank overview, GBS India overview, Function Overview)*

Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services.

We are committed to attracting and retaining top talent across the globe to ensure our continued success. Along with taking care of our customers, we want to be the best place for people to work and aim at creating a work environment where all employees have the opportunity to achieve their goals.

We are a part of the Global Business Services which delivers technology and operations capabilities to all Bank of America lines of business (LOB) and enterprise functions.

Our employees help our customers and clients at every stage of their financial lives, helping them connect to what matters most. This purpose defines and unites us. Every day, we are focused on delivering value, convenience, expertise and innovation for individuals, businesses and institutional investors we serve worldwide.

• BA Continuum is a nonbank subsidiary of Bank of America, part of Global Business Services in the bank.

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 48 – 60 months of work experience with 18 – 24 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

Job Description*

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

• 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.

Responsibilities*

• Strong work management skills and experience as SME
• Excellent Knowledge of financial and capital markets (equity).
• Working Knowledge of General Accounting (journal entries, debits/credits, color of entries and treatment in books etc.).
• Demonstrates sense of urgency for meeting Service Level Agreements; earns business partner loyalty through accuracy, efficiency and courtesy.
• Fair Analytical skills & eye for detail
• Demonstrated ability to quickly learn new processes and tools and incorporate to work environment.
• Must have excellent customer service skills.
• Proficient skills in English language (speaking, writing and comprehension).
• Time and organizational management.
• Demonstrates good judgment to determine and manage business partner expedites and escalations.
• Ability to clearly articulate and communicate issues to internal and external.
• Ability to multitask effectively.
• Proficient in MS Office.
• Knowledge of 6 sigma/quality tools

  
  Requirements*

  
  Job Title*

  Team Leader

  
  Education*

  Graduate in Commerce, Accounting, Management or Equivalent degree in Finance or Post Graduates in Commerce, Accounting Management or Finance / ICWA Inter / CA Inter / MBA Finance

  Certifications: NCFM or similar certifications

  NCFM or similar certifications will be added advantage

  
  Experience Range*

  5-6 Years’ experience in Asset Service (Income or Corp Act) or 5-6 Years of experience in International Bank – Dividend Process for Prime Brokerage Clients

  
  Foundational skills*

  Knowledge of Dividend/Coupon Interest, Corporate action,

  • 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*

  18:30 IST to 03:30 IST and 19:30 IST to 04:40 IST

  
  Job Location*

  Gurugram/ HYD

Job Band:

H7

Shift:

Hours Per Week:

45

Weekly Schedule:

Referral Bonus Amount:

0