Assistant Manager

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

Transaction Reporting Operations are responsible for ensuring the completeness, accuracy and timeliness of the Bank's transaction reporting obligations across multiple global regulatory jurisdictions. Completeness, accuracy and timeliness controls are the primary responsibility of 2 core functions within the Transaction Reporting Operations team. The Submission Control function is responsible for monitoring and remediating the internal validation failures and the rejects (NACKs) from the regulators, the team has to liaise with MO / FO / Tech teams for the root causes of the exceptions. Submission control also monitors the trades which are not getting reported within the compliance time for OTC / ETD / Securities and raise breaches for all timeliness issues that missed the agreed thresholds. The Enhanced Quality Assurance team perform post process testing to validate the completeness, accuracy, and timeliness of the transaction reports submissions through performing reconciliations and targeted deep dive thematic testing.

Job Description

The current role is for the Submission control and below is the description of the role.

• Deliver on project commitments and goals, on-time and with agreed upon scope.
• Good understanding of Regulatory reporting land scape for CFTC, EMIR, HKMA and AMRS
• Data mining of huge data sets containing millions of records to identify target issue
• Exposure of working on regulatory queries and reaching out to Compliance / DTCC / Regulator to get clarity
• Good understanding of timeliness requirement for different jurisdictions
• Experience in using BI tools like Alteryx and Tableau to automate reports
• Well versed in identifying a regulatory breach and raising it with the compliance team
• Deliver for business partners : FO, BO and Cirrus Development teams, MO change management teams, Regulatory Operations Control team, Business Analyst team, and senior management team.
• Create and maintain strong relationships with stakeholders and Business partners.
• Identify tech issues, raise JIRAs and work with Development teams to fix the issue
• Collaborate with all submission control teams to update the TREF (Transaction Reporting Executive forum) deck with executive summary and commentary
• Should be a team player and should have the ability to work on all BAU reports
• Attend and contribute to team meetings
• This is a very hands on role, ideal for someone with drive and willingness to learn and adapt, is proactive and has very good knowledge about the reporting regulation and the reporting system architecture Responsibilities
• Ensuring the completeness, accuracy and timeliness of transaction reporting submissions across multiple regulatory regimes (e.g. Dodd Frank, EMIR, MIFID / MIFIR, etc.)
• Engagement in designing, implementing and maintaining operation process
• Generate daily reports and analyze patterns to derive meaningful information
• Management reporting and issue escalation and resolution
• Remaining current on the Regulatory Reporting landscape to ensure the firm's reporting remains in step with changes in regulatory environment

Responsibilities :

Requirements :

Education : Post Graduation

Certifications If Any : NA

Experience Range : 9+ Years of overall experience

Foundational Skills

Desired Skills

Work Timings : 12.30 to 21.30 IST

Work Location : Chennai

Skills Required

Excel, Regulatory Reporting, Data Mining, Analytical Skills, Trade Processing