Senior Operations 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. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.
Being a Great Place to Work and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates' physical, emotional, and financial wellness through affordable, competitive and flexible benefits.
We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve.
Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs.
At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. 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.
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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
The ETD F&O (Futures and Options) Flow process starts with the setup of risk limits for execution and clearing activities, and covers reference data set up and updates, Chicago Mercantile Exchange (CME) floor support, clearing allocations processing, break investigation, NFRR reporting, open interest reporting, exercise and assignment processing and settlement, corporate action processing, tax activities, payment management and manual payment processing. These activities are performed to protect the financial interests of a broad range of clients (hedge funds, market makers, and trading firms), and the integrity of global BOFA books and records, and include validation controls for Client reporting, Risk reporting, Tax reporting, Risk calculations, NFRR and daily segregated Client Money calculations.
Job Description
The role is part of the Clearing team in Bank of America Merrill Lynch's F&O and OTC Clearing Derivatives group. Daily the Clearing team is responsible for Clearing Futures and Options Trades. This position is primarily responsible for monitoring clearing teams and corresponding reports to various exchanges. This position will be the owner for process related controls. This position plays a key role in controlling operational costs. Managing multiple teams and stakeholders and handling escalations from traders and internal clients. This position will require ability to investigate and resolve exceptions with tight exchange cutoffs.
Responsibilities
This ETD clearing associate will be responsible for:
Global Trade Clearing oversight
Design and implement Follow the Sun Operating Model within GBS for ops resiliency
Execute AI adoption and Ops excellence solutions driving efficiency
Engage with Global stakeholders across regions
Review process documentation, SLA, SOP and adherence to strict deadlines, whilst carrying out all tasks
Data Analysis and Management reporting
Effective escalation management
Identifying process weaknesses, flagging communication issues to/from clients
Work closely with internal teams such as the Reconciliation, Control Team and the Client Services Representatives (CSR) Team to resolve queries.
Requirements
Education: Post Graduation in Banking/finance/Commerce from recognized university, Tier I, II College.
Certifications If any: NA
Experience Range: 15+ years of experience with at least 5 years in ETD business
Foundational skills:
Strong background in Exchange Traded Clearing and Cleared Derivatives products.
Collaborative team player with clear examples of working across teams and positively influencing other areas not under their direct reporting lines
Excellent written and verbal communication. Communication with client/regulator is essential part of the job and incumbent is expected to drive working groups to review key issues and progress.
Lead automation and process improvement projects.
Assisting with the delivery of multiple technology platforms.
Front to back business acumen across multiple asset classes.
Excellent organizational and analytical skills.
Self-starter - works on own initiative and willingness to help others to meet targets and objectives
Desired skills
Having prior experience of direct people management will be added advantage.
Working experience of FIS Trade Clearing, Clear Vision or other similar Middleware Platforms and exchange GUIs
Working experience of GMI application
Work Timings: Candidate should be flexible for any shift including US timing (night shift)
Job Location: Hyderabad
Perks and Benefits
Health and Wellness
- FSA
- HSA
- Health Insurance
- Dental Insurance
- Vision Insurance
- Life Insurance
- Short-Term Disability
- Long-Term Disability
- Pet Insurance
- Mental Health Benefits
Parental Benefits
- Non-Birth Parent or Paternity Leave
- Birth Parent or Maternity Leave
- Adoption Assistance Program
- Adoption Leave
- Family Support Resources
Work Flexibility
Office Life and Perks
Vacation and Time Off
- Leave of Absence
- Personal/Sick Days
- Paid Holidays
- Paid Vacation
- Sabbatical
- Volunteer Time Off
Financial and Retirement
- 401(K) With Company Matching
- 401(K)
- Financial Counseling
Professional Development
- Tuition Reimbursement
- Internship Program
- Associate or Rotational Training Program
- Mentor Program
- Access to Online Courses
Diversity and Inclusion