Assistant Manager at Bank of America

Assistant Manager at Bank of America Job

Hey Job Seekers! Are you looking for a managerial job or want to excel in your career? If yes then have a look at the Assistant Manager at Bank of America job wherefrom various streams of candidates with relevant experience and certifications can apply.

To know more about this job opening read the blog below.

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About Assistant Manager at Bank of America

The Bank of America Corporation (often abbreviated as BofA or BoA) is an American global investment bank and financial services holding company with headquarters in Charlotte, North Carolina.

Bank of America was founded in San Francisco in 1998 as a result of NationsBank’s acquisition of BankAmerica. After JPMorgan Chase, it is the second-largest bank in the United States and the eighth-largest bank in the world. Bank of America is one of the United States’ Big Four banking institutions.

It competes with JPMorgan Chase, Citigroup, and Wells Fargo for around 10.73 percent of all American bank deposits. Its principal financial services are focused on commercial banking, wealth management, and investment banking.

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Roles & Responsibilities

  • Production and reporting of daily P&L to Front Office & Senior Management.
  • Reconcile actual P&L with trader estimates and provide flash/actual variance analysis.
  • Working closely with the trading desks on position, P&L, or other issues on an ad-hoc basis.
  • Front-to-Back analysis & reconciliations of front office P&L and balance sheet to firm sub-ledgers,
  • Assist with execution of month-end controls ensuring management vs financial P&L variances are within thresholds
  • Analyze traders’ risk positions and understand and apply the Greeks (Delta, Vega Gamma) vs daily market moves.
  • Would be typical own set of books/cost center and Business Units
  • Liaise with various business partners such as Technology, Market Risk, Credit Risk, Operations, and Finance to resolve issues/queries.
  • Development & continuous improvement of existing processes & workflow.
  • Testing / UAT for systems work ranging from minor system releases to major system implementations.
  • Remediation of issues in an autonomous yet timely manner considering the principles of control and the need to mitigate operational risk.

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Skills Required

BASIC SKILLS-

  • The candidate should have a keen interest in the Fixed Income product set with a good understanding of the products used (see above) and their pricing
  • Understanding of IFRS9 Product Accounting including AFS, MTM, etc
  • Good understanding of Financial Accounting, Balance Sheet & Income Statement concepts
  • Understanding of Trade Life Cycle, Cash Flows, trade economics
  • Understanding of daily PnL reporting, MTM/Attribute analysis, and commentary
  • Good working understanding of Excel is a must; the ability to troubleshoot spreadsheet issues is also critical
  • The right individual will have strong people skills and can multi-task to manage the challenges of Middle Office processes yet have the awareness to escalate potential issues to their supervisor promptly
  • The 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.  Reactive and/or passive individuals need not apply
  • Mentor junior team members to help them grow and conduct strong oversight of overall workflow & issues

DESIRED SKILLS-

  • Knowledge of financial instruments such as Repo, deposits, derivative products, etc.
  • Advanced education and/or enhanced technical qualifications are a plus
  • It would be advantageous if the individual has prior experience in on-shoring Finance, Middle Office, or Operational workflow and implementing procedures and controls
  • The ability to use Access or VBA would enhance the candidate’s attractiveness significantly

Qualifications & Experiences

QUALIFICATION-

  • Graduate/ Post Graduate (MBA – Finance or equivalent) / CA
  • Certifications including FRM, CFA, etc if any would be added advantage

EXPERIENCE-

  • 4-6 years in Finance Domain, with 2-4 years of experience with Product Control

How to Apply for Assistant Manager at Bank of America?

To apply for this job, CLICK HERE.

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