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. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day.

One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We’re devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.

Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.

Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us!

Job Description:
This job is responsible for providing operational support for securities, loans, exchange traded derivatives and over the counter derivatives across multiple lines of business through the lifecycle of a trade. Key responsibilities include handling trading and operational activities before deadlines, maintaining internal systems and providing operational support to internal partners. Job expectations include maintaining a high degree of accuracy with customers and data to ensure compliance with regulations and policies.

Responsibilities:

• Performs set-up and maintenance of core data across client, account, instrument, and agreement data, and oversees data quality within key data platforms
• Ensures transactions are completed in an accurate and timely manner
• Provides operational support for one or more activities within the lifecycle of a trade, including trade processing, trade settlement, accounting and reconciliation, lifecycle events, and collateral management
• Conducts daily monitoring of client trading activity across multiple markets, servicing clients' needs
• Completes accurate, timely clearing and settlement of trades with internal and external counterparties, including reconciliation management and governance of trade fails and breaks
• Performs tasks accurately during high volume periods in a team environment
• Identifies and flags potential risks in a timely manner

Job Summary

This role will directly support the Global F&O & OTC Funding & Optimization team which plays a vital role in collateralizing the firm’s liabilities in the most cost-effective manner, whilst adhering to the latest regulatory requirements. Strong Knowledge of cleared collateral operations, security operations or middle office operations would be beneficial.

The primary responsibility of the position is to provide comprehensive support of day-to-day funding process for the Global Collateral Operations business while ensuring appropriate risk mitigation controls are followed.

Daily tasks will include:
• Optimization of collateral posted both pre and post margin call to minimise the cost of collateral and maximise the use of available assets, considering balance sheet, liquidity, funding costs, mobility and eligibility of collateral.
• Driving the rehypothecation of assets received from clients to utilise them in the most efficient way possible and reduce the amount of unused assets.
• Working closely with the internal Trading Desks, Treasury and Settlement teams to source collateral for daily liabilities and ensure timely settlement of collateral movements.
• Collaborating across global regions, ensuring liabilities are collateralised within proprietary and market deadlines to reduce the risk of settlement failure.
•Ensuring all Client Margin Calls covered on a daily basis.
•Dealing with Client Trade & settlement queries on daily basis.
•Investigation and resolve of any margin call discrepancies.
•Identify and escalate fails in a timely and accurate manner to Credit/Risk.Management, Collateral Risk Management and Operations Management.
•Requesting / Booking of FX transactions for all client base.
•Dealing with collateral bookings & releases, Pledged & Lodged.
•Responding to client inquiries, and when needed, coordinate with the appropriate Front/Middle Office as well as the core processing area in order to facilitate resolution.

Required Skills

• Experience in financial markets
• Confident in facing off to senior stakeholders across the business (including Sales, Trading, Product Control, Credit and Legal).
• Strong controls background with previous experience of implementing and maintaining key business controls.
• Excellent verbal and written communication skills.
• Ability to Meet Deadlines.
• Organizational Skills with Special Emphasis on the Ability to Prioritize Responsibilities.
• Analytical and strong problem-solving abilities.
• Attention to detail, delivering high quality output.
• Experience within Financial Services / Banking industry.

Skills:

• Collaboration
• Customer and Client Focus
• Oral Communications
• Prioritization
• Active Listening
• Adaptability
• Business Acumen
• Client Management
• Data Collection and Entry

Shift:

Hours Per Week: