Team Developer
Bank of America
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 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
Accurately reconcile various General Ledger, Cash, Position & NOSTRO accounts on a daily/weekly/monthly basis in accordance with established procedures and time frames, utilizing the Reconciliation system to balance the accounts. Research and assist operating areas with resolving all open items, escalating any aged items to the concerned business unit. Participate in weekly and monthly reporting that is sent to Regulatory Reporting.
The associate will perform the following functions:
- GL, Cash, Position and NOSTRO reconciliations
- Exception identification & reporting
- Weekly/Monthly reports
- preparation of daily/weekly/monthly reconciliations
- balancing
- reporting
- balance sheet netting calculations
- regulatory report compilations
- trading inventory maintenance
- balance sheet substantiation
- research, root cause analysis and resolution of exceptions
Job Description
- Adherence to the SLA’s – productivity, turnaround time, and accuracy
- Engage in improving processes through reengineering, system checks, process automation
- Performing Quality Check
- Act as a change agent and provide implementation assistance as and when the need arises
- Provide subject matter expertise on processes
- Update Manager on process performance and critical people issues
- Identify potential people issues amongst the team & resolve the same on a proactive basis
- Assist new hires such that they are productive on the floor in the shortest possible time frame
- Assess training needs, provide training opportunities and train new hires and existing staff
- Cross train Team Members
Responsibilities
- Proven Experience on GL/Cash/Position & Nostro reconciliations
- Should have been performing Reconciliation preparer, reviewer responsibilities for all types of reconciliations.
- End to End knowledge of Reconciliation procedures and Bank Reconciliation standards
- Understanding of regulatory requirements governing the reconciliations performed
- Knowledge of financial and capital markets (Fixed Income/Options/equity)
- Knowledge of General Accounting activities & principles (journal entries, debits/credits, colour of entries and treatment in books etc.)
- Ability to liaise with key business partners
- Excellent oral & written communication skills
- Highly motivated individual with a diverse background in financial analysis
- Working knowledge in MS Office products including MS Excel, a must
- Attention to details and drive for accuracy
- Ability to work well under pressure
- Excellent problem solving & analytical skills
Requirements
- Education : Graduation (Accounting)
- Certifications If any : NA
- Experience Range : 5 to 8 years
Foundational Skills:
- Recon / Settlement background
Desired Skills:
- Proven Experience on GL/Cash/Position & Nostro reconciliations
- Should have been performing Reconciliation preparer, reviewer responsibilities for all types of reconciliations
- End to End knowledge of Reconciliation procedures and Bank Reconciliation standards
- Understanding of regulatory requirements governing the reconciliations performed
- Knowledge of financial and capital markets (Fixed Income/Options/equity)
- Knowledge of General Accounting activities & principles (journal entries, debits/credits, colour of entries and treatment in books etc.)
- Ability to liaise with key business partners
- Excellent oral & written communication skills
- Highly motivated individual with a diverse background in financial analysis
- Working knowledge in MS Office products including MS Excel, a must
- Attention to details and drive for accuracy
- Ability to work well under pressure
- Excellent problem solving & analytical skills
Work Timings: 12:30 PM IST to 06:30 AM IST (any 9 hours window)
Job Location: Chennai