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.

Line Of Business Job Description:

The main function of the Collateral Operations group is to mitigate counterparty risk on bi-lateral fixed income REPO and TBA trades governed by a MRA/GMRA and MSFTA agreements, as well as OTC Business governed by CSA agreements. The candidate will be expected to perform various margin functions for security transactions. Candidate will be heavily involved in maintaining accurate customer and security information on outstanding financing trades, making margin calls to customers by stated deadlines, entering margin trades, re-pricing existing trades, and monitoring their settlement. The candidate will track, report and resolve trade/price discrepancies between our customers/trading/salesdesks. The process is very time sensitive and requires an extreme attention to detail. The Collateral Unit interacts with a variety of different groups within the bank:

• Back Office/Middle Office Operations

• Cash Management to send/receive cash collateral

• Sales & Trading

• Credit/Risk Management

• Capital Markets Documentation

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

 Required Qualifications:

• Strong Excel Skills

•   Final year Undergraduate/Master’s student with outstanding academic achievement

•  1-5 years of Fixed Income Securities including Repo and Collateral Management experience

•  1-5 years of relational databases and/or process flows experience

• 1-5 years working in a collaborative team environment

•  Strong Communication Skills

•  Excellent analytical, quantitative and interpretative skills

Skills:

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

Shift:

1st shift (United States of America)

Hours Per Week: 

40