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!
Bank of America is one of the world's leading financial institutions, serving individual consumers, small and middle-market businesses, and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services.
Global Business Services*
Global Business Services (GBS) 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.
Our employees help our customers and clients at every stage of their financial lives, helping them connect to what matters most. This purpose defines and unites us. Every day, we are focused on delivering value, convenience, expertise and innovation for the individuals, businesses and institutional investors we serve worldwide. BA Continuum India Pvt. Ltd. supports business process, information technology and knowledge process across Consumer Banking, including Card and Home Loans, Legacy Asset Servicing, Global Banking and Markets, and Global Wealth and Investment Management lines of business at Bank of America.
Process Overview*
Asset Backed Securities (“ABS”) desk is responsible for the origination, structuring and closing of the ABS issuances. Team is also responsible for onboarding and on-going management of the secured lending facilities for its clients.
Securitization is a process by which securities are created out of a pool of assets (Real Estate mortgages, Home Equity Lines, Consumer Loans [auto loans and leases, credit cards, student loans], Equipment leases and loans, Wholesale inventory financing, Trade Receivables, etc.). Cashflows generated by the assets are re-allocated to pay interest and principal on the various classes of securities (these are the liabilities of the securitization). Cashflows can be tranched to create bonds with different credit risk and maturity profiles.
Securitizations generally take place in the private bank market (balance sheet funding) or in the term Asset Backed Securities (or “ABS”) market.
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Bank market is where institutions such as BofA provide funding commitments to issuers by using their balance sheet or ABCP conduits for an agreed upon time period (typically used as a warehouse in order to accumulate a critical mass of receivables)
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BofA lends to securitization clients through Bank of America, National Association
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Term ABS market is where securities are sold to third party institutional investors with the assistance of Underwriters to place the notes
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BofA underwrites securities for securitization clients through BofA Securities, Inc.
ABS team provides origination and structuring coverage to Line of Business (LoB) whereby the team collaborates on the credit memos for secured lending facilities and pre-marketing materials for ABS issuances. The team also works on projects across asset classes which serve as base for the discussion with clients, rating agencies and investors.
Job Description*
Support Syndication of Asset Backed Securities which would include providing financial as well as qualitative analysis for each proposed deal/ facility and assisting in underwriting, committing, and closing transactions. Key asset classes include:
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Auto Loan & Leases
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Equipment
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Credit Cards
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Transportation – Aircraft Receivables, Railcar & Container
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Digital Infrastructure – Data Center, Cell Tower & Fiber
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Student Loans
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Esoteric Asset Classes like Wholesale Business Securitization (WBS), Solar, Timeshare, Tax Lien, Triple Net-Lease, Specialty Finance, IP Royalties etc.
Responsibilities*
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Preparing and presenting Credit Approval Memos in connection with transactions and annual reviews under Asset-backed securities (ABS)
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Supporting the Asset Backed Securities trading platforms
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Identify specific merits, risks and mitigants for each transaction
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Perform due diligence including Industry, Company, Detailed Debt Profile and Financials
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Research ABS, Capital markets, industry and company information and produce market commentary
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Assessing creditworthiness of clients and recommending appropriate credit ratings
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Evaluate risk/return dynamics for proposed transactions
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Help bankers arrive at appropriate pricing by preparing Bond/Loan Comps, Credit Enhancement Analysis, Covenant Analysis etc.
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Create Confidential Information Memo and Deal Teasers including Roadshow Presentation, Rating Agency Presentation (RAP), Sales Memos for Deal Team to execute a deal
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Provide high quality projects in terms of analysis, content, and formatting.
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Communicate effectively with LoB on various tasks
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Flexibility to operate as per business requirement and proactiveness in reverting to LoB on urgent asks
Requirements:
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Education* MBA in Finance
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Certifications If any e.g. CFA. FRM etc
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Experience Range* 06 – 24 months of relevant experience preferably in Securitization, Capital Markets, Financial Analysis, Debt Syndications, Investment Banking, Equity Research, etc.
Foundational skills:
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Strong Research and Financial Analysis skills.
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Candidates must demonstrate a combination of academic aptitude, quantitative skills, strategic and creative thinking, and excellent written and oral communication skills.
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Superior organizational and analytical skills.
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Exceptional time management and multi-tasking ability.
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Strong aptitude to learn new concepts and an attitude to take on new projects, responsibilities.
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Ability to innovate and leverage data to establish narratives and enhance scope of work.
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Clear grasp of Corporate Finance concepts and their application and familiarity with company filings, credit analysis ratios, financial statement analysis, etc.
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Deadline orientation; organized and responsible; high attention-to-details and ability to deliver output of a very high standard.
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Integrity, assertiveness, initiative, leadership, strong work ethics
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Expertise in MS Office products such as Excel, PowerPoint.
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Thorough understanding of the capital markets and products offered under this segment.
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Ability to work proactively and independently as well as in a team environment.
Desired skills*
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An understanding of the various products under Global Capital Markets.
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Experience on working with Investment Banking databases: Bloomberg, Capital IQ, etc.
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Strong interest in global financial markets and ability to work with minimal supervision.
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Basic understanding and working of data analytics tools.
Work Timings* 11:00 am – 8:00 pm
Job Location* Mumbai
