Team Leader

Chennai, Tamil Nadu
Permanent
Full-time

3 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 OverviewTransaction Reporting Operations are responsible for ensuring the completeness, accuracy and timeliness of the Bank’s transaction reporting obligations across multiple global regulatory jurisdictions. Completeness, accuracy and timeliness controls are the primary responsibility of 2 core functions within the Transaction Reporting Operations team. The Submission Control function is responsible for monitoring and remediating the internal validation failures and the rejects (NACKs) from the regulators, the team has to liaise with MO/FO/Tech teams for the root causes of the exceptions. Submission control also monitors the trades which are not getting reported within the compliance time for OTC/ETD/Securities and raise breaches for all timeliness issues that missed the agreed thresholds. The Enhanced Quality Assurance team perform post process testing to validate the completeness, accuracy, and timeliness of the transaction reports submissions through performing reconciliations and targeted deep dive thematic testing.Job DescriptionThe current role is for the Enhanced Quality Assurance and below is the description of the role.

Deliver on project commitments and goals, on-time and with agreed upon scope.
Good understanding of Regulatory reporting land scape for CFTC, EMR, MIFID, HKMA, SFTR and APAC
Data mining of huge data sets containing millions of records to identify target issue
Develop and deliver controls to test completeness and accuracy of data reported to regulators
Identify discrepancies/reporting issues in a timely manner and work towards the resolution of those issues
Exposure of working on regulatory queries and reaching out to Legal & Compliance/DTCC/Regulator to get clarity
Good understanding of reporting requirements for different jurisdictions and ability to interpret the RTS guidelines
Experience in using BI tools like Alteryx and Tableau to automate reports
Well versed in identifying a regulatory breach and raising it with the compliance team
Deliver for business partners: FO, BO and Cirrus Development teams, MO change management teams, Regulatory Operations Control team, Business Analyst team, and senior management team.
Create and maintain strong relationships with stakeholders and Business partners.
Identify tech issues, raise JIRAs and work with Development teams to fix the issue
Should be a team player and should have the ability to work on all BAU reports
Should have a good understanding of post process quality assurance controls framework and its working
Attend and contribute to team meetings
This is a very hand’s on role, ideal for someone with drive and willingness to learn and adapt, is proactive and has very good knowledge about the reporting regulation and the reporting system architecture

Responsibilities

Ensuring the completeness, accuracy and timeliness of transaction reporting submissions across multiple regulatory regimes (e.g. Dodd Frank, EMIR, MIFID/MIFIR, etc.)
Engagement in designing, implementing and maintaining operation process
Generate daily reports and analyze patterns to derive meaningful information
Management reporting and issue escalation and resolution
Remaining current on the Regulatory Reporting landscape to ensure the firm’s reporting remains in step with changes in regulatory environment
Responsible for working closely with GTR and Industry Working Groups (WG)
Host WG calls with various internal groups to implement the industry/regulatory changes for MAS, HKMA and other Asian jurisdictions
Track the progress of the implementation of changes and work closely with various team in FO/MO/Dev teams and Reporting Dev team
Responsible to document the changes and work closely with the compliance teams
Raise breach as per the guidelines and ensure remediation of the issue
Investigate and identify the root cause for the Transaction Reporting breaks and coordinate with FO/MO/Tech to fix them
Review controls on regular basis and challenge status quo
Work with change and initiative team on new changes and provide requirement for controls ahead of going live with new jurisdiction.

RequirementsEducation : Post-Graduation

Certifications If Any : NA

Experience Range : 7-9 Years of overall experienceFoundational Skills

Knowledge and experience with Global Markets regulations such as Dodd Frank, HKMA, ASIC, MAS and EMIR
Solid trade processing knowledge; front, middle and back office, (FO, MO, BO).
Familiarity with counter party clearing: LCH. Clearnet (London Clearing House), Chicago Mercantile Exchange, Intercontinental Exchange (ICE), CBOE, OCC highly desirable.
Strong analytical skills and experience working with large data sets in Excel.
Excellent organizational skills to track many concurrent activities.
Strong communication skills, both written and verbal.
Ability to work independently and assess relative priority among competing issues

Desired Skills

Adapts to changes and has a proven track record of working as part of a global team
Ability to assess and mitigate risks and dependencies.
Excellent communication and relationship building skills.
Proactive and self-starter

Work Timings : 12.30 to 21.30 ISTJob Location : Chennai

Bank of America

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