Bank Of America Team Developer 

India, Haryana, Gurugram District 

441093931

Job Description:

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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.

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• Pre matching & matching trades on VD-1 & VD with counterparties. Trades which are unmatched are to be identified, researched and actioned for resolution.
• Reduce failing trades and increase settlement efficiency
• Settle failing trades by liaising with various external clients, brokers, local agents & custodians
• Reduce intercompany failing trades across.
• Ensure Capital exposure is as per the levels fixed by the regulators
• Ensure that there are no segregation violations as per SEC regulations and fines imposed by regulators are well below prescribed standards
• Prioritize on reducing failing SELL trades to mitigate the risk of buy-in threat to the firm
• Take necessary steps to ensure that Buy-in threats are avoided to the firm as a result of failing trades
• Ensure Depot transfer requests are entered in the system are settled on time by liaising with Custodian, Client services
• Ensure that breaks pertaining to stock loan are resolved within defined timelines
• Researching on trades which are not recognized by CP and checking is it a valid and following the escalation procedure to make sure that trade settled on the same day or cancelled
• Perform telephone confirmations on transactions due for settlement/matching
• MIS, reporting of operational and trading exposures to management.
• Responsible for clearing of items on the daily exception accounting reports
• Maintain established productivity levels as per SLA.
• Ensure that all established procedures are followed.
• Meet or exceed all deadlines given as per SLA.
• 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.

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• Education : Graduate/Post Graduate
• Certifications If Any: NA
• Experience Range : 3-5 yrs
• 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

• Desired skills : Flexible

11:30 AM – 11:30 PM ( 9 hours Shift)