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Team Leader
lead · Operations
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. 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 Stock Loan Associate in BACI will support the stock loan operational area in the following capacities
- Process Intercompany transactions including, but not limited to; share and cash settlements for the MLPFS counterparty entity and MLI counterparty entity, collateral movement, margining of positions, fail research and resolution.
- Research, Compile, and Reconcile stock loan breaks resulting from depot/blotter differences, cash offset breaks, DTC/Loanet breaks and breaks resulting from various blotter/AP breaks
- Support the Repo process through the booking of borrows and loans in various systems and ensuring share movements through various streams
- Maintain and record all activities in accordance to pre-established SEC record and retention format
- Support regulatory and audit requests to both internal business partners and
External regulators expeditiously.
Job Description*
Agreement and processing of settled items with MLPFS and MLI counterparties and the subsequent collateral movement for such.
Daily reconciliation of said movements to ensure 100% balancing of activity and cash
Process mark to market transactions either via manual or automated platforms
The ability to isolate cash, stock and other breaks daily and process necessary Stock Record adjustments to correct breaks due to various reasons
Navigate through vendor based and internal stock loan processing systems to process daily activity
Responsibilities*
Fail investigation and remediation for failing borrows and loans and returns
Interact closely with stock loan teams in various locations, settlement teams and corporate action teams
Prioritize, investigate and add commentary to contract compare breaks
Create managerial reports, workload statistics, and provide value-added analysis to the business.
Prepare documentation/requests for onshore review and responses to all internal and external inquiries (Office of General Council, SEC Audit etc.) within established timeframes.
Requirements*
- Education* B COM/ MBA/BBA/BCA
- Certifications If Any
- Experience Range* More than 2 years
Foundational Skills:
- Good comm. Skills, Analytical Skills, Time Management and Excel
Desired Skills
- Settlements/ Stock Loan profiles
Work Timings*
18:30 – 03:30 IST
Job Location*
Hyderabad