Bank Of America Senior Manager 

India, Telangana, Hyderabad 

129149038

Process Overview*

Global Markets Business Finance & Control (BF&C) is a division of Global Banking & Markets (GBAM) Finance responsible for the production and independent validation of Global Markets' profit and loss and balance sheet. The team is also responsible for running valuation controls to ensure fair value of balance sheet in accordance with internal valuation methodology and regulatory requirements. This includes independent price verification of both vanilla securities/derivatives and complex/illiquid assets such as exotic derivatives and distressed assets. Additionally, the team also calculates relevant valuation adjustments including adjustments for illiquidity, concentration, model limitations etc. as applicable. The team is also responsible for calculating and reporting prudential valuation adjustments on a quarterly basis.

Responsibilities*

• Performing the calculation and analysis of valuation controls including IPV, valuation adjustments and prudent valuation adjustments, as well as ownership for Fair Value Hierarchy levelling.
• Working with the Global Valuation Group to ensure ongoing review & enhancement of valuation control methodologies and practices.
• Ensuring procedure documents are accurate and up to date.
• Assisting in the streamlining and enhancement valuation processes and becoming actively involved with system development ranging from technical enhancements and new product releases to automation of existing processes.
• Engaging with the key stakeholders including Front Line Units.
• A strong understanding of valuation controls, regulatory rules and governance including Independent Price Verification, Valuation Adjustments and Prudential Valuation.

Requirements*

Qualified Chartered Accountant/CPA /CFA / MBA from Tier I/II institute with relevant experience in Valuation Control or Global Markets environment and organization of similar scale with US GAAP, IFRS, IAS reporting framework with an interest and aptitude for derivative products.

Certifications If Any

• CFA / FRM certified candidates would be preferred.
• Advanced education and/or enhanced technical qualifications are a plus.
• Ability to use Access or VBA would enhance the candidate’s attractiveness significantly.

Experience Range*

7+ years of experience in Global Markets Valuation Control role

Foundational skills*

• Alteryx / Tableau / Python knowledge would be an added advantage.

• Have the awareness to escalate potential issues to their supervisor in a timely manner.

• Candidate must have a proven track record of communicating effectively with personnel from various areas within an organization and at different management levels.

• Must be proactive and be a highly motivated self-starter.

Desired skills

• Effective communication skills with English proficiency

• Demonstrated ability to work in a high pressure environment

• Takes initiative and challenges existing processes and procedures in a proactive manner

• Strong team player

• Ability to analyze issues independently and derive solutions

• Analytical skills

• Inherent sense of principles of control through experience and sound judgment

• Reliability

Work Timings*

12 PM to 9 PM IST (EMEA Shift)