Manager

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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 Control Group 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 Control Group team. The Submission Control function is responsible for monitoring and remediating the internal validation failures and the rejects (NACKs) from the regulators, the team must 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 sample-based QA testing.

Job Description:

The current role is for the Enhanced Quality Assurance and below is the description of the role.

o Deliver on project commitments and goals, on-time and with agreed upon scope.

o good understanding of Regulatory reporting land scape for CFTC, EMR, MIFID, HKMA, SFTR and ASIC

o Data mining of huge data sets containing millions of records to identify target issue

o Develop and deliver controls to test completeness and accuracy of data reported to regulators

o Identify discrepancies/reporting issues in a timely manner and work towards the resolution of those issues

o Exposure of working on regulatory queries and reaching out to Legal & Compliance/DTCC/Regulator to get clarity

o good understanding of reporting requirements for different jurisdictions and ability to interpret the RTS guidelines

o Experience in using BI tools like Alteryx and Tableau to automate reports

o Well versed in identifying a regulatory breach and raising it with the compliance team

o 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.

o Create and maintain strong relationships with stakeholders and Business partners.

o Identify tech issues, raise JIRAs and work with Development teams to fix the issue

o Should be a team player and should have the ability to work on all BAU reports

o Should have a good understanding of post process quality assurance controls framework and its working

o Attend and contribute to team meetings

This is a very hands-on role, ideal for someone who has willingness to learn and adapt, is proactive and has very good knowledge about the regulations and the reporting system architecture.

Responsibilities:

Ensuring the completeness, accuracy, and timeliness of transaction reporting submissions across multiple regulatory regimes (e.g. CFTC, EMIR, MIFID, HKMA, SFTR etc.)

• Engagement in designing, implementing, and maintaining operation process and controls
• Generate samples from reports and analyze patterns to derive meaningful information
• Management reporting and issue escalation and resolution
• Remain current on the Regulatory Reporting landscape to ensure the firm's reporting remains in step with changes in regulatory environment
• Responsible for working closely with GTR and Industry Working Groups (WG)
• Track the progress of the implementation of changes and work closely with various team in FO/MO/Dev teams and Reporting Dev team
• Raise breach as per the guidelines and ensure remediation of the issue
• Investigate and identify the root cause for the Transaction Reporting breaks and coordinate with FO/MO/Tech to fix them
• Review controls on regular basis and challenge status quo
• Build controls and procedures and review on a timely basis
• Work with change and initiative team on new changes and provide requirement for controls ahead of going live with new jurisdiction
• Identify reporting breaches and raise breach, JIRA. Hands-on experience in validating user acceptance test results

Requirements:

• Education : Post Graduation
• Certifications If any : NA
• Experience Range : 10-14 Years of overall experience.

Foundational Skills:

o Solid trade processing knowledge; Front, Middle and Back office, (FO, MO, BO).

o Knowledge and experience with Global Markets regulations such as CFTC, HKMA, ASIC, MAS, and EMIR

o Familiarity with counterparty clearing: LCH. Clearnet (London Clearing House), Chicago Mercantile Exchange, Intercontinental Exchange (ICE), CBOE, OCC highly desirable.

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

o Excellent organizational skills to track many concurrent activities.

o Strong communication skills, both written and verbal.

o Ability to work independently and assess relative priority among competing issues

Desired Skills:

• Exposure to data mining tool will be an added advantage. Opportunity to learn and work on industry leading data mining tools like Tableau and Alteryx
• Ability to critically appraise the existing process and drive process improvement initiatives.
• Adapts to changes and has a proven track record of working as part of a global team.
• Ability to assess and mitigate risks and dependencies.
• Excellent communication and relationship building skills.
• Proactive and self-starter

Work Timings: 12:30 PM - 9:30 PM IST

Job Location: Chennai/Gurugram/Mumbai