Manager

Overview (Bank overview, GBS India overview, Function Overview)*

Bank of America is one of the world’s leading 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.

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.

We are a part of the Global Business Services which delivers technology and operations capabilities to all Bank of America lines of business (LOB) and enterprise functions.

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 individuals, businesses and institutional investors we serve worldwide.
• BA Continuum is a nonbank subsidiary of Bank of America, part of Global Business Services in the bank.

Process Overview*

The Global Treasury BALANCE Sheet Management (BSM) is part of the CFO organization. The primary focus of the team is providing various financial and accounting services in support of the Corporate Treasury group pertaining to forecasting, daily P&L attribution, management reporting/analysis and funds transfer pricing.

Job Description*

Global Finance Treasury BSM seeks to provide a first-class support service with particular focus on the relationship between trading risk positions and P&L components.

We are looking to recruit an individual to work in the Hedge Accounting (FAS 133) and P&L production area covering the Treasury/Fixed Income/FX trading desks. The candidate’s main responsibility will be to perform - ASC 815 (FAS 133) Hedge accounting on derivatives hedging bonds, manage hedge operations/reporting, produce and deliver the daily P&L to front office, providing a high standard of analysis and explanation around any issues faced and daily revenue drivers. The candidate will therefore have considerable interaction with the respective Front Office, Middle Office, Finance and Trade Capture teams so good communication and time management skills are an essential requirement for this job.

The candidate would be required to manage all the aspects of Finance functions for the business for a Sub-LoB/LoB (Line of Business), perform - ASC 815 (FAS 133) Hedge accounting on derivatives hedging bonds, manage hedge operations/reporting, analyze PnL & B/S moves, explain market driven events and review/approve journal entries.

Primary products covered will include: Money Market, Bonds and FX etc.

Responsibilities*
• Essential Skill: Excellent working knowledge of ASC 815 (FAS 133) Hedge accounting & Core knowledge is FX and Fixed income bond accounting
• Essential Skill: Understanding of IFRS 9 principles and Product Account including AFS, MTM etc.
• Risk based attribution experience.
• Supervision of production and reporting of daily P&L to Front Office & Senior Management.
• Working closely with the trading desks on position, P&L or other issues on an ad-hoc basis.
• Assist with execution of month-end controls ensuring management vs financial P&L variances are within thresholds
• Analyze traders’ risk positions and understand and apply the Greeks (Delta, Vega Gamma) vs daily market moves.
• Drive strategic initiatives for the business finance functions.
• Influence the regional & global strategy of CFO group.
• Liaise with various business partners such as Technology, Market Risk, Credit Risk, Operations and Finance to resolve issues / queries.
• Execute and integrate new capabilities, as driven by local, regional and global objectives
• Development & continuous improvement of existing processes & workflow.
• Testing / UAT for systems work ranging from minor system releases