Job Description:
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 is core to how we drive Responsible Growth. This includes our commitment to being an inclusive workplace, attracting and developing exceptional talent, supporting our teammates' physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.
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.
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Job Description
A role exists for a highly motivated, industry established, professional within the F&O and OTC Clearing Operations, who is looking to further expand an already successful career in the field of Futures & Options and OTC Clearing.
The department has a Market Operation which comprises of, Clearing, Deliveries, Regulatory / Exchange and Process Control, Strategy, Client Service and Documentation Teams. This structure is replicated regionally in Chicago and EMEA processing trading activity over 60+ Exchanges. As well as an established track record with regards to listed futures, the function is currently expanding its capabilities with regards to centrally cleared OTC products, i.e. Interest Rate and Credit Default Swaps.
Role Description
• Responsible for the clearing activities across APAC exchanges supported from Singapore Clearing team, which includes:
o Oversight of top day clearing activities
o Responsible for processing
o Act as escalation point for issues raised by the offshore clearing team
o Responsible for processing expiration of F&O contracts
o Manage regulatory reporting obligations with APAC exchanges
o Resolve trade breaks and allocations issues raised internally or by clients
• Continuous Improvement of the Operating Environment with regards to STP, risk and control
• Partners Closely with Technology, Operations Strategy & Front Office to drive change
• Ability to connect with other regions within Global Market Operations and Compliance to ensure consistent awareness of changing F&O and OTC Clearing Regulatory environment
Required Skills
• Excellent communication, effective with peers and senior management
• Strength in identifying and implementing solutions for process improvement
• Proficient in the Law, Rule and Regulation (LRR) for APAC markets, especially on Non-Financial Regulatory Reporting (NFRR)
Preferred Skills
• Futures industry experience working for a FCM, Exchange, Clearing House or Regulator
• Experience using SunGard GMI system is preferred, as well as experience with derivative clearing middleware systems, Global Seals, ClearVision, Trade Clearing and Exchange Terminal
• Experience in EMEA / AMRS ETD markets will be an advantage
Other Qualifications: • Strives to bring new thoughts and ideas to teams in order to drive innovation and unique solutions
• Excels in working among diverse viewpoints to determine the best path forward
• Experience in connecting with a diverse set of clients to understand future business needs - is a continuous learner
• Commitment to challenging the status quo and promoting positive change.
• Participate in and drive collaborative efforts to advance tools, technology, and ways of working to better serve an evolving client base
• Believes in value of diversity so we can reflect, connect and meet the diverse needs of our clients and employees around the world