Bank Of America Assistant Manager 

India, Tamil Nadu, Chennai 

997556440

Process Overview

Teams manage exceptions for Fixed Income trade settlement and deal with external counterparties. To ensure trades settlement, team manage unconfirmed trades for DTC market along with inventory management, post settlement activities for all global markets except India. The high-level settlement task also includes payments, Journal entries, stock movement, ADR/GDR conversion, reconciliation, inter entity funding, custody management, client account statement, CSR activities and escalating wherever required to mitigate potential risks for the firm and its clients liaising with internal & external counterparts, exchanges, CSD's and market agents.

Job Description

The current role is for the AMRS Settlements Team and below is the description of the role.

• Ability to understand and take appropriate action across multiple work streams like Settlements, Trade Processing, client queries and post trade exceptions.
• Review, investigate and revert on queries from internal and external clients.
• Review and analyze the daily reports/metrics to identify any deviation or inconsistency and highlight the same to the management.
• Seek to identify and provide solutions to process improve tasks and service provided.
• Ability to identify potential issues in the process and develop remediation on the same.
• Lead short term-long term projects in partnership with onshore and track until completion.
• Ability to identify and mitigate the existing/upcoming risks in the process. Liaising with ORC partners for implementing the appropriate controls to mitigate the risk.

Responsibilities

• Monitoring settlement status, following up with concerned parties including external custodian banks and internal client service groups.
• Investigating/following up any breaks for Depots/Nostro Following up any queries from internal/external parties
• Monitoring of buy-in trades
• Fail Management, Inventory Management
• Manual Cash Payments and journal entry

Requirements

• Education: Bachelor’s Degree with finance background
• Certifications If any : NA
• Experience Range: 8-10 Years.

Foundational skills:

• Strong domain experience in equities, fixed income settlements and reconciliations
• Evaluating and bringing in the efficiency in existing testing process.
• Participate in meetings/walkthrough session/group meetings.
• Excellent Communication skills written and verbal.
• Ability to prioritize work and meet deadlines and work in a highly matrixed organization.
• Stake holder management (internal & external) across regions / functions / lines of business.

Desired skills:

• Good understanding of Global Capital Markets especially for Securities Upstream and Downstream flow
• Ability to work effectively in a cross-cultural environment with significant ambiguity, and successfully adjust one's actions or behaviors to adapt to rapid changes and shifting priorities.
• Evaluation of governance routines/policies/procedures to ensure internal & external compliance.
• Candidate must also have good written and oral communications skills.
• Ability to prioritize and multi-task when faced with multiple deadlines.
• Organized and able to multi-task in a fast-paced environment
• Excellent interpersonal skills; positive attitude; team player; flexible
• Willingness to learn and adapt to changes.
• Proactively recognize and recommend solutions to process inefficiencies.
• Sound decision making capability.
• Client focused individual with the drive to exceed expectations.
• Results oriented individual with good problem-solving skills.
• Eye for detail and Out of the Box Thinking

05:30AM - 02:30AM