Assistant Manager bei Bank of America

Assistant Manager

Chennai, India;Zone 1, Gift Sez

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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. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.

Being a Great Place to Work and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates’ physical, emotional, and financial wellness through affordable, competitive and flexible benefits.

We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve.

Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs.

At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. 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:

This role is within the Remediation team. The purpose of the team is to apply analytical and project management expertise to Transaction Reporting breaches which have been identified, working with colleagues in Compliance, Operations and Technology until resolved. This is a very hands on role, ideal for someone who has a keen eye for detail, yet also seeks the managing and delivering on remediation

Job Description

• Business Analysis throughout full project lifecycle including definition of problem statement, requirements, creation and execution of test plans, and ensuring business readiness for implementation.

• Ensuring appropriate due diligence is performed when resolving breaches ensure root cause, impact and any remediation actions are truly understood and documented.

• Continued focus to ensure oversight on other breaches and perform remediation activities to mitigate the risk of reoccurrence

• Managing audit trial of the remediation of each breach with appropriate review, documentation and sign off

• Ensure appropriate escalation and management information to operations, LOB areas and governance routines.

• Managing the delivery of breaches in purview of remediation, interact across multiple work-streams, working with the business and technology to ensure timely remediation.

• Candidate will be responsible for tracking and monitoring governance activities and routines for the team.

• Candidate will also be involved in discussions around progress of projects and drive communications

• Candidate would also work on creation of reports and presentations basis new requirements and modifications in current requirements.

• Create and maintain strong relationships with project stakeholders and partners

• She/he will also be expected to develop and implement tactical and strategic solutions in different areas of operations within team.

• Also drive process improvement, operation excellence and other routines in the team.

Requirements

• Education: Post graduation

• Experience: 7+ yrs of experience : Transaction Reporting or Regulatory Reporting experience with strong knowledge of regulatory reporting obligations, including SFTR (Securities Financing Transactions Regulation) , EMIR, and MiFID/MiFID II.

• Deep understanding of the global regulatory trade and transaction reporting landscape, including reporting frameworks, regulatory repositories, reconciliation, data quality controls, and remediation activities related to SFTR reporting obligations.

Foundational Skill:

• Familiar with key regulations covered by TR Ops: SFTR, EMIR, MIFID and other regional regulatory reporting regimes (Desired: SFTR)

• Strong understanding of SFTR reporting requirements, including securities lending, repos, buy/sell backs, margin lending transactions, UTI generation, pairing and matching, reconciliation, and Trade Repository reporting.

• Experience with SFTR regulatory reporting remediation, including root cause analysis, correction of reporting defects, back-reporting, and regulatory breach management.

• Knowledge of SFTR data quality controls, reporting validations, completeness, accuracy and timeliness requirements, and regulatory expectations.

• Experience analyzing and remediating reporting exceptions across the end-to-end SFTR reporting lifecycle, including upstream booking, enrichment, regulatory reporting engine processing, and Trade Repository submission.

• Understanding of regulatory reporting governance, testing, implementation and change management activities related to SFTR regulatory changes and industry initiatives.

• Experience performing impact assessments, business analysis, UAT testing, and implementation activities for regulatory reporting changes, including SFTR.

• Experience of working in Banking MO, Operations or other relevant functions

• Extensive business analysis, project management, data analysis and testing skills are required for this role

• Exposure to working with remediation of regulatory mis- reporting is an advantage.

• Excellent communication and presentation skills

• Strong analytical skills and experience working with large data sets in Excel.

• Strong communication skills, both written and verbal.

• Familiar with key trade flow components: how trades are booked, cleared, captured, consumed by the reporting systems, processed, submitted to the regulatory / repository)

• Product specific knowledge inside / outside of transaction reporting operations

Desired Skill:

• Experience with SFTR reporting platforms, Trade Repositories, and regulatory reporting control frameworks.

• Knowledge of securities financing products including Repos, Reverse Repos, Securities Lending/Borrowing, Margin Lending and Collateral Management.

• Understanding of FCA/ESMA regulatory expectations relating to SFTR completeness, accuracy, and timeliness obligations.

• Ability to assess and mitigate risks and dependencies.

• Excellent communication and relationship building skills.

• Ability to work independently and assess relative priority among competing issues.

• Exposure to tools like Alteryx, Tableau, SQL and MS Excel

• Experience in key transaction reporting systems and how they interact with each other

• Strong analytical skills and experience working with large data sets in Excel.

• Strong communication skills, both written and verbal.

• Ability to work independently and assess relative priority among competing issues.

Work Timings

• EMEA –11.30 to 20.30 /12 30 – 21 30

Job Location: Chennai /GIFT City

Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other bases such as medical condition, marital status or any other factor that is irrelevant to the performance of our teammates.

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Bank of America aims to create a workplace free from the dangers and resulting consequences of illegal and illicit drug use and alcohol abuse. Our Drug-Free Workplace and Alcohol Policy (“Policy”) establishes requirements to prevent the presence or use of illegal or illicit drugs or unauthorized alcohol on Bank of America premises and to provide a safe work environment.

Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations. Should you be offered a role with Bank of America, your hiring manager will provide you with information on the in-office expectations associated with your role. These expectations are subject to change at any time and at the sole discretion of the Company. To the extent you have a disability or sincerely held religious belief for which you believe you need a reasonable accommodation from this requirement, you must seek an accommodation through the Bank’s required accommodation request process before your first day of work.

This communication provides information about certain Bank of America benefits. Receipt of this document does not automatically entitle you to benefits offered by Bank of America. Every effort has been made to ensure the accuracy of this communication. However, if there are discrepancies between this communication and the official plan documents, the plan documents will always govern. Bank of America retains the discretion to interpret the terms or language used in any of its communications according to the provisions contained in the plan documents. Bank of America also reserves the right to amend or terminate any benefit plan in its sole discretion at any time for any reason.