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. 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!
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 Global Valuation Group (GVG) team at BA Continuum provides valuation and independent price verification (IPV) support to the Global Markets Businesses, covering Equities, Rates, FX, Commodities and Credit lines of business. This particular role is for Rates/FX/Commodities.
Job Description*
We are looking for a seasoned individual who has strong programming skills and good knowledge of Rates/FX/Commodities as an asset class. Further a similar Valuation control role experience in a large global bank is preferable.
The position requires the person to have a deep understanding of derivatives, product knowledge, understanding of how different trading desks operate, their risk profiles and revenue generation mechanism.
This role will involve facing off with very senior stakeholders in Global Finance, Front office and Risk globally in addition to engagement with senior management at GBS.
Additionally, given the regulatory focus in this area, the person would have very strong communication and leadership skills.
Responsibilities*
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Define the methodology for IPV and associated Liquidity/Model/Deal Specific Valuation Adjustments (VA).
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Create the standard process to execute the methodology in line with compliance requirements. Implementation should be largely in python-based infrastructure.
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Perform reviews and approval of all market data constructions, functions and models used in production to value transactions.
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Review and Challenge the IPV processes conducted by Business Finance and Control (BFC).
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Review of material, new deals and changes to models and market data configurations.
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Assist with implementation of strategic projects, such as key risk management and system enhancements.
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Working closely with Traders, Market Risk Management, Model Risk Management, FO Quants, BFC, senior managers on new product, model development, model sign-off etc.
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Define Fair Value Hierarchy categorization and justification and create the framework of a given product, risk, or portfolio as appropriate.
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Define Liquidity (covered/non-covered) and create the framework of a given product, risk, or portfolio as appropriate
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Lead the team from the front.
Requirements*
Education*
Qualified PhD/MBA/Masters in a Quantitative Field from Tier I/II institute with relevant experience in Valuation controls processes in Global Markets environment and organization of similar scale.
Certifications If Any
- CFA / FRM certified candidates would be preferred
- Strong Programming Knowledge (Python)
Experience Range*
12-15 years of experience with at least 5-10 years’ experience in Valuation control’s role
Foundational skills*
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12-15 years of Banking and Financial Services experience with extensive knowledge of working in a Global Markets environment.
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Strong quantitative modeling skills and programming skills in Python.
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Line experience coupled with a demonstrated ability to lead technology-based change.
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Proven experience of providing thought leadership to overcome challenges and lead without direct authority.
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Strong verbal and written communication skills, and the personal ability to collaborate, operate, and communicate effectively with a culturally diverse group of peers and colleagues.
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Has the gravity to interact at all levels of management to support resolution of complex business issues.
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Demonstrated ability to work in a global matrix organization and significantly multi-geography, multi-cultural offshore service delivery environment.
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A convincing executive presence which conveys composure and confidence in all situations, the credibility and stature to carry stakeholders through influence rather than via the hierarchy.
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Individual should have the resilience to handle internal pressures and conflicts in dealing with multiple stakeholders.
Desired skills
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Must be proactive and be a highly motivated self-starter
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Demonstrated ability to work in a high-pressure environment
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Takes initiative and challenges existing processes and procedures in a proactive manner
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Strong leadership skills with ability to face-off with Senior global stakeholders and auditors
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Ability to analyze issues independently and drive solutions
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Analytical skills
Work Timings*
12:00 PM IST to 21:00 PM IST
Job Location*
Mumbai/Hyderabad
