Assistant Manager

Bank of America

  • Hyderabad, Telangana
  • Permanent
  • Full-time
  • 7 days ago
Job Description:About UsAt 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 ServicesGlobal Business Services 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.Process Overview*Quantitative Services (QS) team consists of several groups working for Global Markets. It is a sub-specialty focusing on development and operation of processes with a high degree of quantitative analysis, data management or technology development. The group covers several lines of business across the globe. QS Team is further structured into sub-teams like – Cross-Asset Solutions, Global Markets Data Management, Strategic Data and Projects and Quartz Operations Group.The Global Markets Data Management Team works on Data Quality controls & initiatives on data feeding various downstream processes like Market Risk (Grid VaR, Full Revaluation VaR, Full Revaluation Stress Scenarios, IRC/CRM), Counterparty Credit Risk, FRTB, Prime Brokerage Risk. The team is responsible for validating the data quality (accuracy, reasonableness, completeness) for various consumers and working with different stakeholders to remediate the identified DQ issues.Job Description*The associate is primarily expected to run various data quality controls and checks on Global Markets data that feeds various downstream use cases like market risk, FRTB, Counterparty Credit Risk, Prime Brokerage Risk & Margin. Investigate DQ exceptions, validate the same (for accuracy, reasonableness, completeness) and identify DQ issues. Work with different stakeholders like technology, operations, finance, Front Office , Risk Management, QSDG etc. to identify the root cause of the DQ issues and drive remediation.Responsibilities*
  • Run multiple Data Quality Controls (like Day on Day swing checks, Flash VaR checks, Reference Data Checks, Reconciliations against sub-ledgers and Front Office Proxy sources, EOD batch Valuation Errors, Relational controls etc.) to identify potential Data Quality issues in the data feeding various consumers like Market Risk (Grid VaR, Full Revaluation VaR, Full Revaluation Stress Scenarios, IRC/CRM), Counterparty Credit Risk, FRTB, Prime Brokerage Risk/PB margin calculations.
  • Investigate & validate potential DQ exceptions, escalate and work towards root cause analysis and remediation of the identified DQ issues in collaboration with multiple stakeholders like technology, operations, finance, Front Office , Risk Management, QSDG etc .
  • Work on regulatory, risk management driven and internal initiatives on setting up better data controls (like FRTB, CCAR EST data controls), process improvements and reporting.
  • Work with technology teams & risk managers to enhance data integrity and controls within the purview of BCBS 239 standards and Bank Internal Data policies (covering Accuracy, completeness, Reasonableness and Timeliness of Risk data).
  • Identify and work on Operational Excellence & efficiency initiatives across these difference processes.
Requirements*Education*
  • MBA in Finance/BA or MA in Economics/CA or any other relevant financial management degree
  • FRM, CFA certifications are an advantage but not mandatory.
Experience Range*
  • 3-5 years of work experience in Global Markets related functions (including but not limited to Market Risk, Product Control, Trade Control, Regulatory Reporting, Data Management etc.).
Foundational Skills*- Self-starter and team player with a strong work ethic willing to work in a challenging environment. Ability to work independently.- Strong Analytical & Problem Solving Skills. Excellent Communication Skills (oral & written) to effectively work in a Global Organization with teams spread across countries.- Experience working in roles within Global Markets (especially in areas like Market Risk/Counterparty Credit Risk/Product Control/risk data validation, Risk Reporting etc.).- Knowledge & Experience related to Financial Derivatives with good understanding of atleast the basic concepts related to derivative pricing & payoffs, risk (Delta, Vega, Gamma), sensitivities, Value at Risk, Stress Testing, Key risk related regulations (Basel & others).- Advanced spreadsheet skills, data analysis.- Technical skills in python/SQL/VBA and knowledge of tools like JIRA, Tableau are an advantage.- FRM Certification is a good to have.Work Timings*
  • 11.30 AM – 8.30 PM IST (can be 1 hour before or after depending on day light savings and areas covered).
  • Ready to work on weekends (if required).
Job Location*
  • Mumbai, Hyderabad.

Bank of America