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Assistant Manager

Bank of America
2-5 years
Not Specified

Job Description


Job Description:
Overview
Bank of America is one of the world's leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. We are committed to attracting and retaining top talent across the globe to ensure our continued success. Along with taking care of our customers, we want to be the best place for people to work and aim at creating a work environment where all employees have the opportunity to achieve their goals.
We are a part of the Global Business Services which delivers technology and operations capabilities to Bank of America lines of business (LOB) and enterprise functions.
Our employees help our customers and clients at every stage of their financial lives, helping them connect to what matters most. This purpose defines and unites us. Every day, we are focused on delivering value, convenience, expertise and innovation for individuals, businesses and institutional investors we serve worldwide.
Process Overview
The Quantitative Services (QS) Team is part of the Global Business Services Team. The QS UMR team is responsible to accurately compute & report Independent Amount (IA) of the counterparties and also assist in dispute resolution with the counterparties. The team provides:

  • 2nd level support for Dispute Management post Collateral Operations population validation i.e. Correlation issues resulting in fallback calculation, risk factor mapping issues, missing risk sensitivities, risk discrepancies, low exceptions in the risk engine, etc.

  • Escalate to Counterparty Portfolio Management (CPM) where required providing necessary explains on the discrepancies found.

  • Assess internal results for errors and provide assessment of counterparty calculators for reasonableness.

Under the QS UMR team, the Initiatives team is responsible for assisting in Projects for CPM desk managing UMR, Process automation, Process Development or provide solutions through prototyping.
Job Description:
Process Automation:

  • Understand the process and device tech solutions to automate them

  • Prototype these solutions for review and then work with Technology team to implement

  • Support the team with issues pertaining to suggested technology implementations

Process Development:

  • Identify issues and control gaps in existing infrastructure

  • Device technical solutions to streamline the processes and enhance data integrity and control

  • Should have good understanding of financial products, their structure and underlying risk to be able to implement such projects

  • Should be able to understand the financial implications of these projects and be responsible for the quality and timeliness of the deliverables

  • Have to work with varied technology applications for solutions implementation

Responsibilities

  • Structure the overall process flow for automation and automate using scripts

  • Device solutions and build prototype and maintain it till it gets implemented by technology

  • Implementation of relevant project management practices (status reporting, issue tracking etc)

  • Day to day responsibility for managing the project with the Desk, technology and other partners

Requirements

  • Education: B.Tech/B.E. from Tier1 or Tier2 colleges is needed, Masters Degree in Finance, Economics or Financial Quantitative Analysis will be preferred

  • Certifications If Any: Any certifications related to Coding/Testing will be preferred

  • Experience Range: 2-5 years of experience working in a technology role for a finance institution

Foundational skills:

  • Strong technical skills including experience of using MS Office, SQL, Python and VBA

  • Experience of code implementation, writing test cases and performing test cycles

  • Experience of handling large set of data and knowledge of coding standards will be preferred.

  • Strong analytical skills

Desired skills:

  • Good communication skills

  • Knowledge or experience of working with trading products in capital markets: Knowledge of: Fixed Income products, Futures, Options, Indexes, CDS, CDO, FRAs, SWAPs, SWAPTIONs, CAPs/FLOOR will be preferred

  • Knowledge of Financial Risk Management: Credit Risk Model, Value at Risk. Knowledge of Interest Rates, Credit spreads, bond pricing will be preferred

Work Timings: 12:30pm to 09:30pm
Location: Gurugram

Bank of America

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