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*

The Process establishes, maintains, drives consistent application of, and assesses the effectiveness of the Enterprise Value-at-Risk (VaR) Backtesting Finance Control Guidelines owned by the Global Markets (GM) / Global Banking (GB) Finance organization. Backtesting is a daily regulatory requirement to gauge the effectiveness of the VaR models by comparing the calculated VaR with reported Profit & Loss (P&L) results. Each business day’s attributed P&L, published by complementary GM Business Finance & Control (BFC) Execution Processes via a variety of Tech supported applications, is an input into the VaR Backtesting (VBT) Process owned by Global Risk Management (GRM) where it is compared to 1-day VaR from the VaR model. If attributed P&L (as either loss or gain) exceeds VaR , then the VaR is considered to have been ""breached"" and reported to regulators as an ""overage”. This Process is responsible for ensuring that attributed P&L submitted to GRM is complete and accurate for VBT, coordinates GM Finance due diligence when potential overages are identified, and delivers VBT results to the stakeholders. The Process updates, ratifies, publicizes, and assesses GM/GB Finance-wide application of the control principles established in its corresponding Guidelines, which is maintained in the Finance Documentation Framework Share Point, with annual compliance training deployed via myLearning. It both hands-off to and is triggered by a variety of BFC Execution Processes, which apply its principles & controls to individual line-of-business portfolios. Key stakeholders include, but are not limited to GM, GB and Treasury Business Finance managers, GM/GB Finance Senior Leadership, GRM, Enterprise Capital Management (ECM) and CFO Operational Risk & Control Oversight (ORCO)

Job Description*

As a member of this team, you will be accountable for handling production and delivering change across the Value at Risk Back-Testing (VBT) Program. This team handles VBT controls and reporting at a granular level across the entire Global Markets Business This will include liaising with with book-runners globally across all trading businesses (Equities, Credit, Fixed Income, FX, Commodities, etc.) and analyzing VaR overages. As a centralized team the team is responsible for producing dashboards which serve as a control for BFC teams to take action on pending items. This individual will be responsible for production of dashboards

The team is also encouraged to take part in employee engagement and diversity and inclusion initiatives to help continue to make Bank of America a great place to work.

Responsibilities*

• As an Individual Contributor running VBT controls including identification of overages and working with BFC teams to complete due diligence process
• Partnering closely with Finance, Risk and Technology to implement technology solutions
• Ensuring documentation is complete and accurate.
• Production of dashboards which are consumed by Finance teams for identification of breaks which require remediation Engaging with the key stakeholders including Front Line Units.
• As VBT process is audited regularly this individual will work closely with VBT Leads to collate evidence to satisfy audit requirements/requests.
• Leads and encourages the identification, escalation and resolution of potential risks.

Requirements*

Education*

Qualified FRM/ /CFA / MBA from Tier I/II institute with relevant experience in Global Markets, Product Control or Market Risk environment.

Certifications If Any

• CFA / FRM certified candidates would be preferred.
• Proficiency in emerging technologies like Alteryx, Tableau,
• Ability to use AI tools like CoPilot etc. will be added advantage

Experience Range*

6-8 years of experience in Global Markets Product Control

Foundational skills*

• Ability to Multitask
• Have the awareness to escalate potential issues to their supervisor in a timely manner.
• Candidate must have a proven track record of communicating effectively with personnel from various areas within an organization and at different management levels.
• Must be proactive and be a highly motivated self-starter.

Desired skills

• Effective communication skills with English proficiency

• Demonstrated ability to work in a high pressure environment

• Takes initiative and challenges existing processes and procedures in a proactive manner

• Strong team player

• Ability to analyze issues independently and derive solutions

• Analytical skills

• Inherent sense of principles of control through experience and sound judgment

• Reliability

Work Timings*

11:30 AM to 8:30 PM IST (EMEA Shift)

Job Location*

Hyderabad