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*
The Stock Loan Associate in BACI will support the stock loan operational area in the following capacities
- Process Intercompany transactions including, but not limited to; share and cash settlements for the MLPFS counterparty entity and MLI counterparty entity, collateral movement, margining of positions, fail research and resolution.
- Research, Compile, and Reconcile stock loan breaks resulting from depot/blotter differences, cash offset breaks, DTC/Loanet breaks and breaks resulting from various blotter/AP breaks
- Support the 5274 Repo process through the booking of borrows and loans in various systems and ensuring share movements through various streams
- Maintain and record all activities in accordance to pre-established SEC record and retention format
- Support regulatory and audit requests to both internal business partners and
- External regulators expeditiously.
Job Description*
Agreement and processing of settled items with MLPFS and MLI counterparties and the subsequent collateral movement for such
Daily reconciliation of said movements to ensure 100% balancing of activity and cash
Process mark to market transactions either via manual or automated platforms
The ability to isolate cash, stock and other breaks daily and process necessary Stock Record adjustments to correct breaks due to various reasons
Navigate through vendor based and internal stock loan processing systems to process daily activity
Responsibilities*
Fail investigation and remediation for failing borrows and loans and returns
Interact closely with stock loan teams in various locations, settlement teams and corporate action teams
Prioritize, investigate and add commentary to contract compare breaks
Create managerial reports, workload statistics, and provide value-added analysis to the business.
Prepare documentation/requests for onshore review and responses to all internal and external inquiries (Office of General Council, SEC Audit etc.) within established timeframes.
Requirements*
Education : B COM/ MBA/BBA/BCA
Certifications If Any : NA
Experience Range: 3-5 Years
Foundational skills*
Good comm. Skills, Analytical Skills, Time Management and Excel
Desired skills
Settlements/ Stock Loan profiles
Work Timings*
14:30-23:30
Job Location*
Hyderabad