Overview * (Bank of America overview, BA Continuum India overview, Business Overview)
Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. BA Continuum is a nonbank subsidiary of Bank of America, part of our Global Delivery Center of Expertise in the bank. Our employees help our customers and clients at every stage of their financial lives, helping them connect to what matters most. This purpose defines and unites us. Every day, we are focused on delivering value, convenience, expertise and innovation for the individuals, businesses and institutional investors we serve worldwide. We are committed to attracting and retaining top talent across the globe to ensure our continued success. Along with taking care of our customers, we want to be the best place for people to work and aim at creating a work environment where all employees have the opportunity to achieve their goals.BA Continuum India Pvt. Ltd. supports business process, information technology and knowledge process across Consumer Banking, including Card and Home Loans, Legacy Asset Servicing, Global Banking and Markets, and Global Wealth and Investment Management lines of business at Bank of America.
Structured Trade Review process involves review of exotic/ structured Rates, FX, Commodities, Credit and Equity Structured trades from the front office system to the appropriate trade confirmations thereby ascertain if there are any incorrectly booked trades, categorizing and documenting the discrepancies and making sure that the trades are corrected.
Ensuring all trades are booked accurately and correspond to terms as agreed between the Front Office and the client. This involves understanding how the trade has been booked on the BAML models to replicate the payoff and comparing this to the economic conditions as set out in the Term sheet and Confirmation which have been agreed with the counterparty.
Reviewing Structured Products term sheets and confirmations provided to the STR team by internal Marketers and Operation groups. It is essential that potential candidates have a high level of attention to detail and a good grasp of the English language to review the conditions set out in the documentation. The candidate will need be aware of different, potential scenarios that may affect the trade and understand the impact to payoff.
• Learn BAML booking templates and scripting languages for model bookings, which is essential in understanding the pay-off profiles of all exotic trade structures. This may also involve reviewing a combination of multiple products and payoffs.
• Review any subsequent trade amendments that have been done post initial review, to ensure that the trade accurately reflects the agreed / revised terms.
The candidate will need to understand how the trade is being risk managed and to review the booking within the context of BAML booking policies. This will form part of monitoring and control of Overhedge and Model Limitation policies.
• Input into management information around new deal bookings and review metrics, which are regularly produced and submitted to senior middle office management and the trading desks.
• Answering booking related queries from various groups within the bank. This involves developing relationships with a variety of internal stakeholders, including discussing booking issues with the desk, querying documentation discrepancies with marketers and facing off to operation teams as necessary.
Post Graduation or an equivalent qualification from tier 1/2 college, also preferred to have FRM, CFA certified.
Experience Range*: Minimum of 4 – 5 years of experience in a middle office support functions or operations function for OTC derivative products with a total experience of 8+ years
Mandatory skills*: (1) Good Understanding of Investment Banking Products from a Middle Office or Back Office background. (2) Strong communication skills across all levels of seniority especially with the Trading desk (3) Proven analytical skills including data reconciliation and interpretation.
Desired skills* : Demonstrate good Excel skills (macros, formulas)
• Products covered include (but not limited to) Barriers, Cliquet, Asian Option, Variance Swap, Dividend Swap, Best of worst of options, Structured notes etc.
Location - Gurgaon
Shifts 12:30 to 09:30 PM IST