Team Leader R

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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*

Money Market Reconciliation is responsible for reconciling Trading/IOTP (Investment Only Transmission Platform) trading activity and Cash Operations funding/money movement for all money funds and bank products. Resolution of discrepancies is achieved by working with our business partners and using several research avenues to resolve all break items promptly. The reconciliation is an intensively manual process that occurs on a daily basis.

Custody Reconciliation is primarily responsible for the position reconciliation of Mutual Fund holdings offered on the MLPF&S platform. The reconciliation performed is at the omnibus level. Internal books and records are systematically reconciled against settled transaction at the Third Party Mutual Funds through the Inventory Control System (ICS) application. Daily, the processors will be asked to create the daily Exposure report detailing unreconciled positions in ICS. In addition to creating and saving the daily exposure report, processors will be assigned Fund Groups they will be responsible for reconciling. Processors will work with both internal and external teams to fully reconcile all exception items.

Managed Account Recon is responsible for all manual reconciliations of managed accounts and the activity within them, daily. They review all accounts within multiple applications and make manual adjustments as needed. Resolution of discrepancies is achieved by working with our business partners and using several research avenues to resolve all break items promptly. The reconciliation is an intensively manual process that occurs on a daily basis.

Job Description*

This individual should be comfortable in a fast-paced, detail-oriented environment and is dedicated to maintaining the highest standards of accuracy and Turn around time.

The candidate is expected to resolve queries and provide support to the team in critical situations. Sense of urgency and attention to detail are pivotal competencies required to perform the functions.

The candidate must be proficient in Excel with the ability to complete multiple formula functions.

The candidate must have communication skills including written communication as the processor will need to work with both internal and external teams to perform the reconciliation.

Critical thinking skills are a must as breaks can occur for a variety of reasons due to the nature of Managed Account strategies.

The candidate must have the ability to understand ledger balances and various transaction activities to perform accurate reconciliations.

This is an extremely high risk and high dollar value reconciliation (Daily balances include Billions of Dollars)

Responsibilities*

Complete daily deadlines in a timely manner.

The processors will need to use critical thinking to decipher internal transactions compared to external activity that occurred at the Fund

The processors will need to know how to decipher and compare House Account statement and client transactions.

Provide a high level of quality service, support, and responsiveness and communicate effectively.

Perform & review assigned month-end close responsibilities and prepare internal management reports

Requirements*

Creative and analytical approach to problem solving

The candidate should have good understanding of Booking keeping, Journal Entries, Reconciliation

Strong communication and interpersonal skills and ability to change communication style based on the audience

Strong knowledge in MS Office products including MS Excel, PowerPoint

Attention to details and drive for accuracy

Ability to work well under pressure

Flexible for shifts

Education*

Minimum Commerce Graduate

Certifications If Any - Any certification in finance or banking

Experience Range*

60 months to 84 months

Foundational skills*

Basic banking, Reconciliation and Wealth management knowledge

Good communication and listening skills.

Strong analytical skills with great attention to details

Organized and able to multi-task in a fast-paced environment

Desired skills:

Highly motivated, able to work independently

Excellent interpersonal skills, positive attitude, team-player

Willingness to learn and adapt to changes

Good knowledge with Microsoft Excel & PPT

Work Timings*

05:30 pm to 02:30 am or 06:30 pm to 03:30 am

Job Location*

Chennai