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Vacancy description
Bank of America Corporation
Gurgaon, भारत
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. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.
Being a Great Place to Work and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates’ physical, emotional, and financial wellness through affordable, competitive and flexible benefits.
We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve.
Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs.
At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. 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 Middle Office seeks to provide first-class support service to its various internal clients with a particular focus on the relationship between trading risk positions. The Trade Control teams are split in varied locations across New York, London, Chester, Singapore, Charlotte and India. The primary internal clients will be Front Office and Middle Office; however there will interaction with Front Office traders can occur over time as additional processes are transitioned. The primary responsibility is to ensure, issues arising with a trade either at execution, expiry or throughout the lifecycle of the trade are escalated and resolved on T+0/T+1.
Trade support is responsible for tracking the trade flow and making sure that there is an element of risk management and control. This team identifies errors and raises them to the desk. Verify accuracy of risk and P&L required for trading. Oversee end to end reconciliations of firm positions and trade bookings. Partner with other FO/MO and BO teams globally to resolve issues. Active participation in new business initiatives and large scale system transformation and migrations projects.
Job Description*
This role is primarily responsible for managing OTC Derivatives Settlement team as per the SLAs outlined by the Line of Business. The role also demands support to various process related project initiatives, stakeholder management, risk management, handling escalations, addressing queries of settlement & investigations teams.
Responsibilities:
• Manage daily FX settlement activities and ensure all payments are processed accurately within market and clearing deadlines.
• Monitor settlement queues, payment releases, funding positions, and cut-off adherence.
• Ensure timely resolution of pre-settlement exceptions, SSI issues, booking discrepancies, and payment instruction differences.
• Drive high STP rates and minimize operational intervention
• Lead investigation and resolution of failed, delayed, unmatched, and returned payments.
• Ensure outstanding receivables and payables are actively managed to reduce settlement risk.
• Coordinate with agent banks, counterparties, Sales, Trading, Treasury, and clients for break resolution.
• Escalate high-value or aged breaks in accordance with escalation procedures.
Maintain strong adherence to operational risk and regulatory requirements.
Support audits, regulatory reviews, and internal control testing.
• Partner with Sales, Trading, Treasury, Reference Data Management, and Technology teams to resolve client issues.
• Ensure timely communication and professional handling of client queries and escalations.
• Drive continuous improvement initiatives to enhance controls, efficiency, and client experience.
• Support strategic projects, automation opportunities, ISO20022 initiatives, and business transformation programs.
Requirements*
Foundational skills*
Desired skills*
Work Timings*
EMEA/US – Should be flexible
Job Location:
Gurugram