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Bank of America US OTC Collateral/Margin Management Professional - Chicago, IL in Chicago, Illinois

Job Description:

Organization: Global Market Operations (GMO) provides controlled and cost effective post trade processes across the business we support and ensures global consistency of processes and strong global and local supervision.

  • Provides technical and analytical support in a global markets operations function for one or more operations product areas. Responsible for the analysis and resolution of complex operations problems and initiatives requiring exceptional handling and/or coordination of multiple operational and/or product specialists to resolve. May manage projects and/or the introduction of new initiatives, systems, products/services and processes, coordinating necessary expertise across multiple operations functions and/or products. As a technical expert, may also function as an informal team lead, providing work direction and technical guidance to less experienced employees in resolving complex transactions and operational problems. Requires extensive experience in an operations support function with thorough working knowledge of fundamental business structure and operational aspects for specific transactions and products. As a technical expert, will consult on a wide variety of topics across functional and business support lines.

Job description:

This role will directly support the US OTC Margin Management function. Role requires a self-starter who will ensure they have sufficient information behind the task at hand to complete with a good outcome. Requires someone who is detail focused and very organized with deliverables.

Deliveries and Responsibilities:

• Ownership of outstanding Audit Issues, and Regulations impacting the margin function

• Identification of resolutions for:

  • Providing updates to Operations Risk partners

  • Ensuring key team members are engaged in resolutions

  • Metrics and Control reporting

• Collateral dispute management

  • Manage and monitor dispute investigations and escalations, including liaising with Front-office, Middle-office, Credit and PVG stakeholders.

  • Provide internal and regulatory dispute reports.

• Coordinate and provide updates/commentary for monthly MIS to senior management

• Responsible for weekly breaks meeting with senior manager

• Identify areas for improvement on client metrics or business metrics

• Business as usual managerial support and back-up

• Approvals for asset transfers or write-offs

• Daily escalations and support

• Managing client issues, meetings, or inquiries

• Meeting with internal business partners

Required Skills:

• College degree or related work experience

• A strong understanding of financial markets across Fixed Income and Derivative products

• An understanding of financial markets documentation (ISDA CSA, GMRA, MRA, etc.)

• Past experience with operational processes as they relate to fixed income and derivative products

• Strong communication skills

• Ability to meet deadlines and work autonomously

• Ability to handle high pressure situations

• Ability to juggle multiple tasks

• Organizational skills with emphasis on the ability to prioritize responsibilities

• Track record of working in detail oriented roles

• Proficient in Excel and PowerPoint

Posting Date : 08/12/2019

Location :

Chicago, IL, 540 W MADISON ST (IL4540),

  • United States

Travel : No

Full / Part-time : Full time

Hours Per Week : 40

Shift : 1st shift

Assistance for Applicants with Disabilities

Bank of America is committed to ensuring that our online application process provides an equal employment opportunity to all job seekers, including individuals with disabilities. If you believe you need a reasonable accommodation in order to search for a job opening or to submit an application, please visit the Applicants with Disabilities page at http://careers.bankofamerica.com/us/applicants-with-disabilities .

Diversity & Inclusion

At Bank of America, our commitment to diversity and inclusion is helping us to create not only a great place to work, but also an environment where our employees, our customers and our communities around the world can reach their goals and connect with each other. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status.

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