The Fixed Income, Currency and Commodities (FICC) & Derivative Core Operations (FDCO) team perform end to end trade control, confirmation and settlements processes across FICC businesses and provides utility OTC derivative confirmation and settlement services for non FICC businesses.
Within FDCO, the teams provide multiple services such as FICC trade control, Foreign Exchange (FX) electronic matching and settlement, Over the Counter (OTC) derivative confirmation and settlement, and commodities operations.
Line of Business Position Description and Responsibilities:
Trading Assistant and Control for the US Rates Swaps Desk concentrating in vanilla interest rate products. Role requires the individual to: Support trade validation and capture, position control and risk validation, process client allocations and amendments, monitor trade clearing status and focus on meeting real time reporting requirements to name a few. Thoroughly analyze and process End Of Day (EOD) New Business Reconciliation and tie out between the bank's system of record and trading desk blotter.
Additional Tasks: * Responsible for monitoring Clearing Trades Dashboard for direct clearing through Tradeweb and Bloomberg and process exception queues * Manage ongoing trade maintenance while contributing to the implementation of improvements to the system infrastructure and control environment * Actively involved in the introduction of new initiatives related to Dodd Frank regulatory reporting analysis, and Quartz development
* The associate will liaise extensively with business partners ranging from Sales/Trading, Compliance, Operations, Supervision, P&L Control, Finance and Market Risk who are located across NY, Charlotte, Chester, U.K. and India
Required Skills and Experience:
4+ years of applicable Trading Assistant & Control experience in derivatives, specifically USD IRS Swaps, at an investment firm or bank
It is important the candidate understand swaps, futures, and treasury products and their respective trading/hedging strategies and life-cycle events
Have thorough understanding of Trade Capture, P&L, curve construction and risk
Ability to work with the Front Office and support partners to address and resolve issues
Ability to multi-task
Continuously maintain a control function mindset
Extremely motivated and goal seeking with ability to work in fast pace/pressure environment
Strong problem solving ability with willingness to grow his/her skills dynamically
Excellent verbal and written communication/presentation skills
Demonstrates effective time management and prioritization skills
Expert PC skills with high proficiency using Excel
Desired Skills and Experience:
Minimum of Bachelor of Science Degree in either of Finance, Mathematics, Accounting or Economics
Bloomberg (Treasury/CME/CBOT) pricers and Spreadsheet Wizard
Microsoft Office Suite
Enterprise Role Overview :
Supports sales and/or trading desks. Responsible for trade capture and resolving trade discrepancies. Liaises between trading, trade support, sales, counterparties, counterparty credit, operations, and compliance. Participates in the introduction and UAT of new initiatives, systems, and process improvements to increase efficiency and enhance controls. Handles ad hoc requests from clients and the desk. Requires product knowledge of financial instruments relevant to the area supported and across related asset classes.
Key Responsibilities: - Provides support to FO desks, responsible for trade capture/reporting and advises FO of position adjustments and/or discrepancies - Tracks and verifies trades and checks accuracy of processed trades - Performs a liaison function between originators and traders - Updates front office on prices and or yields and market movement and assist in sales and trading activity - Incumbents have a thorough understanding of the firms activities and their assigned product area - Works under the supervision of senior staff - Will typically have 3+ years product / trading floor experience
* Strives to bring new thoughts and ideas to teams in order to drive innovation and unique solutions
* Excels in working among diverse viewpoints to determine the best path forward
* Experience in connecting with a diverse set of clients to understand future business needs - is a continuous learner
* Commitment to challenging the status quo and promoting positive change.
* Participate in and drive collaborative efforts to advance tools, technology, and ways of working to better serve an evolving client base
* Believes in value of diversity so we can reflect, connect and meet the diverse needs of our clients and employees around the world"
1st shift (United States of America)
Hours Per Week:
Internal Number: 21016945
About Bank of America
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. The company offers industry-leading support to approximately 3 million small business households through a suite of innovative, easy-to-use online products and services. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world.