Bank of America
5-7 years
Not Specified

Job Description

Job Description:
Overview (Bank overview, GBS India overview, Function 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 all 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.
. BA Continuum is a nonbank subsidiary of Bank of America, part of Global Business Services in the bank.
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. In this regard, BF&C will ensure, inter alia, that accounting policies are correctly and consistently applied, and that trading portfolios are appropriately valued.
The desk is responsible for preparing and reporting of P&L and balance sheet to the business and ensures the accuracy and integrity of the general ledger. The desk is responsible for daily service delivery and ensuring effective controls, transparent management information and becoming a center of excellence delivering process simplification and efficiencies. The desk will work closely with front office, middle office, traders and valuation control teams to drive the control agenda across the business.
Job Description.
The GFX (G10 & LCT) BFC teams are responsible for assisting in Analysis & reporting of Financial and PnL controls ensuring integrity, completeness and accuracy of data. Teams work closely with GFX front office desks and support them on various other initiatives to enable the business and ensure better controls
Responsibilities for this role will initially require an associate to perform daily & monthly business as usual operations which entails performing Independent Price Verification , Computing Valuation Reserves , Performing Prudential Valuation , reporting Disclosures activities and interacting with various stakeholders such as Front office, Operations , Valuation Governance team and technology support to refine existing processes. Also, individual will be accountable for the success of small projects or sections of larger ones & responsible for the quality and timeliness of all project deliverables. Additionally the associate is expected to perform,
  • Curve Publishing
    • IPV investigations
    • Categorizing Hard and Soft yield curve mapping
    • Preparing Control Decks for CFO's.
    • New Product Review
    • Commentary and Analysis of Balance Sheet
    • Automation projects
  • Yield curve Review
  • Performing Prudential Valuation Controls
  • Control activities that support risk mitigation
  • Calculating Valuation Adjustments
  • Process Improvement
    • Identify issues and control gaps in existing infrastructure
    • Work with technology and governance team to streamline our processes and enhance data integrity and control

  • Education.

Bachelors/Master's Degree in Finance, Financial Engineering, Chartered Accountant, MBA (Finance)
  • Certifications If Any

Good to have (not mandatory) - CFA, FRM & CQF
  • Experience Range.

5 - 7 years of experience working in Valuation Control Role
Foundational skills.
  • Basic understanding of Market Risk and regulations impacting investment banking
  • Knowledge of financial instruments including the valuation of OTC derivatives in IR, FX, Credit.
  • Knowledge of pricing vanilla derivative products and their risk drivers like Futures, Options, Indexes, CDS, FRAs, SWAPs, SWAPTIONs, CAPs/FLOORs.
  • Understanding of Greeks and impacts on PnL
  • Strong Technical Skills including: Excel/VBA/ Tableau programming
  • Effective communication skills with proficiency in English language.
  • Ensure BAU deliveries
  • Stakeholder Management
  • Identify prospective changes and drive execution

Desired Skills.
  • Analytical mindset
  • Should be a strong team player
  • Should exhibit a Can do attitude

Work Timings.
Shift Timings: EMEA Shift (1130 till 2030)
Job Location.

Job Details

The Bank of America Corporation (commonly referred to as Bank of America; often abbreviated as BofA or BoA) is an American multinational investment bank and financial services holding company headquartered in Charlotte, North Carolina. The bank was founded in San Francisco and took its present form when NationsBank of Charlotte acquired it in 1998. It is the second-largest banking institution in the United States, after JPMorgan Chase, and the eighth-largest bank in the world. Bank of America is one of the Big Four banking institutions of the United States.It serves approximately 10.73% of all American bank deposits, in direct competition with JPMorgan Chase, Citigroup, and Wells Fargo. Its primary financial services revolve around commercial banking, wealth management, and investment banking

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