As part of the Americas Equity Trade Control team the candidate will be responsible for providing all aspects of operational trade support to the Equities sales and trading businesses. The role provides operational support for an exciting and fast paced set of businesses across Equities. The candidate will collaborate with business partners alongside end to end functional areas in order to deliver on business and operational objectives for the Global Markets Equities division.
The candidate will be responsible for ensuring operational support across the lifecycle of a trade for related lines of business, drive booking accuracy, process improvements, and Book ensure trading book ref data is accurately established. The position will provide opportunities to drive change, improve controls, influence front to back operational processes and exposure to several lines of business and products. The individual will also have opportunities to develop thorough understanding of business processes, products, and market workflows. Preferred product experience and knowledge of financial instruments relevant to the area(s) supported. Bachelor degree or substantially equivalent business experience required.
Performs the operational activities of the equities trade support functions such as: corporate action processing, equity swaps and derivatives lifecycle management, cash equity processing, allocation adjustments, trade correction processing, trade break reconciliation, break research and resolution, regulatory reporting, driving change, metrics, static data maintenance, assisting with PnL and local currency funding requirements.
Responsible for trade validation and trade amendment booking and the analysis and resolution of a wide variety of problems across cash equity and equity derivative products that may require special handling or exception reporting.
Collaborate with various areas across Global Markets such as trading, sales, trade control, risk, credit, COOs, legal, compliance and other operational areas.
Participates in the introduction of new initiatives, systems, and process improvements to increase efficiency and enhance controls.
Handles ad hoc requests from trading, sales and client(s).
Collaborate daily with peers across functional areas based in US, EMEA and APR to ensure seamless and consistent global front to back support.
Ensures accurate LOB reporting and submits Self-Identified issues to be logged and monitored, and Ops losses to be reviewed and logged as Self-Identified Issues if existing controls are not sufficient.
Develops and analyzes procedures and manages daily control checklist and heat maps to ensure sufficient desk coverage.
Opportunities for rotational assignment across the department to support various trading desks as demands arise.
Collaborates with business, compliance, supervision, and risk to ensure procedures are compliant and up to date.
Leverage understanding of the performance drivers for the GBAM businesses to create value add analysis and lead strategic insights.
Identifying and recommending booking accuracy improvements.
Maintaining trading book reference data.
Enterprise Role Overview:
Supervises trade booking and trade validation. Responsible for the analysis and resolution of a wide variety of complex products that may require special handling or exception reporting. Supports ongoing trade maintenance and reporting and supports the implementation of improvements to the system infrastructure and control environment. Introduces new initiatives, products and services, and procedural, systems or hardware solutions to improve efficiency. Provides analyses. Requires product experience and knowledge of financial instruments accounting relevant to the area supported. Provides general team guidance. May provide input to recruiting and hiring & performance mgt processes. BA preferred or substantially equivalent experience. Typically 5-7 years of applicable experience. To be used for employees in Global Markets only.
Required Skills: ( Must have these skills to be minimally qualified)
Understands and performs the operational activities of the Equities Trade Support functions.
Requires product knowledge of financial instruments relevant to the area supported and across related asset classes.
In depth knowledge of equity markets and lifecycle management processing of in scope products.
Advanced knowledge of Excel
Ability to work well in a team environment
Ability to work in a high pressured environment / multi-tasking
Demonstrated ability to manage and implement change including test plans and management of implementation activities.
Attention to detail
Excellent written and verbal communication skills
Comfortable communicating with clients, senior business and support partners
Basic understanding of regulatory environment and industry initiatives
Operates with urgency at all times under intense and fast paced environment
Familiarity with trade capture, client onboarding, and risk systems.
Familiarity with documentation and other requirements (regulatory, credit, AML, static data needs, documentation) for trading various equity products.
Demonstrate an ability to drive change / tasks to completion.
Self-starter with outstanding problem solving skills.
Excels at 'getting things done' with minimal direction.
Strong operational processing and risk control skills including the ability to build well-controlled spreadsheets and source appropriate and meaningful data.
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: 21035708
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.