Senior Operations Manager

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. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day.

One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We’re devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.

Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.

Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us!

Global Business Services

Global Business Services (GBS) 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

Job Description*

The Global Banking and Markets [GBAM] Finance seeks to provide a first-class support service with particular focus on the relationship between trading risk positions and P&L components. We are looking to recruit an individual to work in the P&L production area covering the Equities trading desks. The candidate’s main responsibility will be to produce and deliver the daily P&L to front office, providing a high standard of analysis and explanation around any issues faced and daily revenue drivers. The candidate will therefore have considerable interaction with the respective Front Office, Middle Office, Finance and Trade Capture teams so good communication and time management skills are an essential requirement for this job.

Primary products covered will include: All Equities based products

Responsibilities*

The business is constantly evolving and moving into new markets and products. Business Finance and Control plays a key role in enabling business activity in a robust control environment to support responsible growth. You will be actively encouraged to develop close working relationships with the business and other key support teams i.e. Legal Entity Controllers, Accounting Policy, Operations, Audit, Tax, Treasury, Technology and Risk Management.

Primary products covered will include: All Equities based products.

• Ownership of the Team’s daily & Monthly processes
• Production and reporting of daily P&L to Front Office & Senior Management.
• Reconcile actual P&L with trader estimates and provide flash/actual variance analysis.
• Working closely with the trading desks on position, P&L or other issues on an ad-hoc basis.
• Front-to-Back analysis & reconciliations of front office p&l and balance sheet to firm sub-ledgers,
• Assist with execution of month-end controls ensuring management vs financial P&L variances are within thresholds
• Liaise with various business partners such as Technology, Market Risk, Credit Risk, Operations and Finance to resolve issues / queries.
• Development & continuous improvement of existing processes & workflow.
• Testing / UAT for systems work ranging from minor system releases to major system implementations.
• Remediation of issues in an autonomous yet timely manner considering the principles of control and the need to mitigate operational risk.
• Ensure validity of allocated/attributed balances as well as internal funding charge
• Determining and implementing appropriate accounting policies and procedures with Accounting Policy
• Managing key legal entity, regulatory and PL issues with the business
• Month end Close, including Financial disclosures, calculation / recording accounting classification entries
• Contributing to Governance process, operational error reporting and support of other internal control process, including Self-Identified Audit Issue and Operational Risk remediation
  
  

• Leading role in driving team projects, including automation and process enhancement;
• Ensure all front to back breaks are understood, and escalated in accordance with standards
• Ensuring a minimum of manual, stand alone processes are maintained. Where tactically used, ensuring a strategic solution is being sought.
• Accurate analysis and recording of operational loss events;
  
  

• New Product Review - Involvement in completion of New Product Review documentation for new businesses / products proposed by your trading desk, and the implementation of systems and process changes / improvements that are required
• Development and production of Financial Reporting for business reviews
• Review Monthly financial and key performance metrics with Business and discuss key business strategy and plan
  
  

• A good leader with efficient people management skills.
• Strong communication, organization, presentation and interpersonal skills, be able to establish strong working relationships with a board range of stakeholders, ability to influence team at remote locations
• Strong business sense and control mindset, demonstrable risk identification and management
• Strong analytical and problem solving skills with a demonstrated ability to analyze business processes and workflows and deliver required project to a high standard
• Ability and confidence to tackle new concepts and ideas associate with on going change in the business
• Ability to build SME knowledge within the group - provide appropriate level of business, product & process training to the peers & teams
• Ability to juggle multiple tasks and responsibilities
• A ‘Can do’ attitude, self-driven and proactive, be innovative and have the ability to generate new and creative ideas
• Attention to detail, strong Excel skills, good working knowledge of accounting concepts
• Good understanding of Global Market business and relevant experience is preferred
• Candidates with emerging technology (Alteryx, Tableau, Workvia) experience is preferred
  
  

• 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