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
APAC Securities Settlements team perform various functions like pre-matching, settlements, sufficiency, Depot Transfers and controls functions like margin, queue/break management, FOP and margin payments for few entities. We work on Equity product. Maintaining client/broker relationship and keeping the market, credit, liquidity and operational risk to its minimum is key to the success. Teams interact with several different internal teams which are part of trade lifecycle and also with various counterparties externally to match/settle the trades.
Job Description
This is a great opportunity for someone looking to gain experience in the world of securities. The associate will be part of the Securities settlements / Client Services team working in a fast paced and time sensitive environment.
APAC CS / Settlements Teams are responsible for Pre-matching, Matching, Narrations, and timely Settlement of trades - Value Date & Failing trades, Stock Loan Reconciliation, Depot Management functions across APAC Markets. The qualifying associates will work within one of the APAC Settlements Teams and should possess the knowledge and skill sets required to work at an elevated level of competence within agreed protocols and with clearly defined lines of accountability for the assigned work.
Although working individually, the success is measured at a team level, with internal targets and results being measured against the Line of Business external peer group on a regular basis. The level error free settlements, adhering to the regulators requirements Segregation Violations, Fines) and our success in the market versus our peer group is a key barometer in measuring the control of risk around the process.
The key to success is to ensure we settle all equity trades within tight deadlines as prescribed by the SLA. In a deadline driven environment, turnaround, accuracy and escalation are of high importance as we are at risk to market movements, traders P & L, client relationship, and the bank’s reputation including settlement risk. Sense of urgency and attention to detail are pivotal competencies required to perform the functions.
Responsibilities
- Good understanding of Global Capital Markets
- Ability to maintain good connect with LOB partners and able to handle Issues and Escalations independently.
- To contribute towards consistent delivery on Business metrics along with other new responsibilities and setting higher standards of self and Team performance
- Excellent Client Relationship and communication skills
- Build productive teams that works effectively together to achieve or exceed set operational targets & client Service Level Agreements (SLA's).
- To create improvements in business processes by contributing ideas and implementing agreed changes into the team's day-to-day operations
- To perform all tasks following company policy and procedures, including legal & regulatory requirements, and to prescribed company standards.
- Act as a process SME
- To provide coaching & support to individuals to develop their skills, acting as a role model for excellent behavior and performance.
- Liaise with LOB effectively to manage the service delivery in line with the SLA and ADHOC situations.
- Experience in handling the monthly deliverables like Dashboards/Risk Matrix etc.
- Reduce failing trades and increase settlement efficiency.
- Will be part of BAU apart from strategic and efficiency initiatives.
- To be flexible in their attitude and approach and be willing to work extra hours during the week with overflow of volume and to provide cover for holidays planned and unplanned.
- Requirements
- Education: Graduate/Postgraduate
- Certifications If Any:
- Experience Range: 4-5yrs
Foundational skills:
- Excellent organizational skills are required with the ability to prioritize daily workload, work accurately and efficiently under pressure.
- To be able to communicate effectively
- Global markets / settlements experience
Desired skills: Investment Banking operation
Work Timings: 6:30 – 15:30 IST
Job Location: Gurugram