Officer jobs at Bank Of America in India, Mumbai

∙ Resolution and escalation of matched and unmatched trades
∙ Timely response to client queries regarding the settlement of their trades
∙ Client Fails Reporting
∙ Buy in avoidance
∙ Liaising with other internal departments to ensure timely resolution of Client fails
∙ Involvement in ad hoc projects for new processes or industry initiatives

Responsibilities:

• Perform document gap analysis by reviewing available documentation and evaluating information available for India jurisdiction.

• Liaise with sales/client teams to obtain and validate correct documentation.

• Process AML/CDD by enriching onboarding requests in the system and performing enhanced due diligence as required.

• Support creation of key business metrics.

• Liaise with internal departments to support KYC issues - Involvement in ad hoc projects for new processes or industry initiatives.

• Participate in remediation, internal/external Audits Requirements
  Experience in similar role (preferred)

• Control focused mindset and good understanding of regulatory and reputational risks.
  (knowledge of India requirements a plus)

• Excellent communications skills and ability to present to an audience.

• Ability to work under pressure in a team environment.

• Ability to liaise with all levels of the firm and people with different experiences and backgrounds.

• Self-motivated. Bank of America Merrill Lynch is an equal opportunities employer.

Skills:

• 5-6 years’ experience in AML/KYC roles.

• Relevant experience on Client Due Diligence review on Corporate clients, Knowledge of APAC regulations (India regulations preferred).

• Control focused mindset and good understanding of regulatory and reputational risks.

• Excellent communications skills and ability to present to audience.

• Ability to work under pressure in a team environment.

• Ability to liaise with internal and external stakeholders and deal with people with different experiences and backgrounds and be able to get work done.

• Self-motivated and assertive.

Responsibilities:

• Control of Dormant & Ban Control accounts as per established regional and local procedures. Including AML/KYC controls on activation or related maintenance as received from clients.
• Perform AOC / Account release activity for Dormant/ Ban-control transactions, ensure all the validations are done as per the DTP before releasing the AOC
• Monthly review of Dormant list and physical verification of files held with PMCG
• Preparation and circulation of Bank Reconciliation statements daily.
• Opening, maintenance and closure of Internal account (Client related, External & Internal, PAP, Nostro partner bank, GL, Suspense etc.)
• Review of accounts held in Deferred / Suppress Dormant status as per the guidance
• Review Suspense, Holdover, TX, Oracle Breaks etc. to ensure that no item is outstanding as per established process. Monitoring reconciliation of Nostro accounts.
• Review of Desktop procedures and ensure that the same are updated
• Revert on the regulatory notices received from regulatory bodies like SEBI, Income Tax offices, Financial Investigation Unit, etc.
• Perform Day 2 Quality checks for new Accounts Opened/maintenance done
• Perform maintenance activities related to set up of new accounts in INDOCS
• Prepare regulatory reports submitted by the Bank and ensure adequate controls are built in the process for accurate and timely reporting
• Maintaining RTGS holidays for India on the system
• Responsible for maintaining efficient relationship with stakeholders
• Preparation of Internal and Customer related MIS as per the requirement

Skills:

• Post-Graduate / MBA / Chartered Accountants with 3 to 5 years of experience preferred
• Excellent Customer Service and Inter-personal skills
• Ability to manage a team
• Should be solution oriented and look for opportunities to automate. Experience in automated projects will be an added advantage.
• Good computing, accounting skills and analytical skills.
• Good written and verbal communication skills
• Ability to manage multiple tasks with accuracy
• Quality conscious and having flair for constant process improvement.
• Ability to manage volumes with accuracy.
• Knowledge about banking operations preferable

Job Description:

Job Description:

Financial Reporting and Accounting

Month-end/year-end closing (as per Indian GAAP/ Ind AS and US GAAP), General Ledger Reconciliation and Schedule preparations, GAAP reconciliations, quarterly corporate reporting, general ledger scrutiny and compliance with financial reporting requirements for securities entity. Assisting in compilation of financial information including analytical review for Board Meetings, Audit Committee, corporate audit and exchanges exams

Accounts Finalization and Statutory Audit

Finalization of accounts, reporting and internal financial controls related areas
,segmental reporting, audit, compilations, certifications and other procedures requiring inter-face with auditors primarily for securities entity

Tax compliances and regulatory Reporting

Income Tax computations including advance tax and deferred tax calculations, Advance Tax, financial details for assessment proceedings, transfer pricing reporting, tax audits, Good and Service Tax compliances including filing of returns, financial / regulatory reporting to RBI and SEBI

Analytics and MIS

Compile presentation decks for adhoc information requirements

Responsibilities:

• Prepare and manage statutory auditor, regulatory reporting, tax reporting, regulators and corporate audit.
• Partners with business on tracking business drivers and providing analytical inputs on balance sheet trends and returns for forecasting balance sheet and income statement
• Core mandate to get the numbers right, Accurate and well controlled
• Efficiency: Process optimization
• Strive for flawless, error free execution through proactive operational risk management, robust preventive controls and self-identification of issues

Required Skills:

• Years of experience: Minimum 0-3 years of experience
• Chartered Accountant
• Strong analytical and reasoning skills
• Good communication, interpersonal and relationship management skills.
• Knowledge of Ind-AS preferred and having strong accounting background
• Ability to prioritize and ensure consistent delivery of results
• Strong team player
• Adept at using excel, power point and Systems Aptitude

Financial Reporting and Accounting

Month-end/year-end closing (as per Indian GAAP/ Ind AS and US GAAP), General Ledger Reconciliation and Schedule preparations, GAAP reconciliations, quarterly corporate reporting, general ledger scrutiny and compliance with financial reporting requirements for banking entity. Assisting in compilation of financial information including analytical review for Local Management Team Committee Meetings, Audit Council, corporate audit and RBI exams

Accounts Finalization and Statutory Audit

Preparation and Finalization of accounts, reporting and internal financial controls related areas, segmental reporting, audit, compilations, certifications and other procedures requiring inter-face with auditors primarily for banking entity

Tax compliances and regulatory Reporting

Income Tax computations including advance tax and deferred tax calculations, Advance Tax, financial details for assessment proceedings, Good and Service Tax compliances including filing of returns, financial / regulatory reporting to RBI for banking entity

Analytics and MIS

Compile presentation decks for adhoc information requirements

Data points, control parameters and inspection under the Risk Based Supervision (RBS) approach of RBI

Compilation of data points across multiple tranches on quarterly basis along with detailed analysis and documentation for period to period variances

Documentation of control parameters and periodical review

Handling RBI inspection related information requirements, responses, and closure of remediation actions within the timelines

Automation Projects

Handling the automation of financial regulatory reporting by conducting UAT and testing of reports

Responsibilities:

• Prepare and manage regulatory reporting, statutory auditor, regulators and corporate audit.
• Partners with business on tracking business drivers and providing analytical inputs on balance sheet trends and returns for forecasting balance sheet and income statement
• Core mandate to get the numbers right, Accurate and well controlled
• Efficiency: Process optimization
• Strive for flawless, error free execution through proactive operational risk management, robust preventive controls and self-identification of issues

Required Skills:

• Years of experience: Minimum 1-4 years of post-qualified experience
• Chartered Accountant
• Strong analytical and reasoning skills
• Good communication, interpersonal and relationship management skills.
• Knowledge of banking regulations, banking products, investments and derivatives
• Ability to prioritize and ensure consistent delivery of results
• Strong team player
• Adept at using excel, power point and Systems Aptitude

The role involves post execution trade processing, which includes validating, affirming, sending confirmations to counterparties, entering settlements as a Maker, process Fees and Billing. Processing of trades have to comply with DTPs. Ensure compliance with local and global regulatory requirements. Involves Engage with different stakeholders including Business, Compliance, Finance and Technology for resolving any issues.
• Trade Validation of FX deals in GBS.
• Perform Manager level role in Cash Manager.
• Maintain Due diligence at the time of processing / settlement of the trades.
• Maker role for some of the desk activities.
• Engage with Stakeholders including Business, Compliance, Finance, Technology for constructively resolving any queries.
• Participate in various process improvement initiatives/ projects as required.
• Preparation of daily, weekly & Monthly MIS reports
• Providing Audit Data to Concurrent Auditors -
• Passing of Manual entries in GBS.-
• Monitoring of Alleged and Pending queue in IRIS( CCIL Owned application)
• Monitoring of any New/amend Standard Settlement Instructions received from Clients.
∙ Previous experience of processing within FX, Derivatives and Collateral Operations
∙ Client focused. Client facing experience or ability to conduct discussions with Clients in a clear and concise manner
∙ Excellent communications skills
∙ Ability to work under pressure and adhere to stiff deadlines
∙ Ability to liaise with all levels of the firm and people with different experiences and backgrounds∙ Knowledge of Regulations and Ability to Identify and Mitigate Operational Risk
∙ Strong understanding of the accounting principles
∙ Good knowledge of Microsoft Excel