Assistant Manager

Bank of America; Mumbai City; On-site; INR 1,200,000 - 1,800,000; Full time

Job summary

Bank of America Mumbai seeks an experienced Reconciliation Specialist for Futures & Options clearing operations. You will perform account-level reconciliation of trades on T+1, own process controls, and help manage costs while serving internal clients with high service levels.

The role requires 8–10 years in Investment Bank Operations, strong Excel skills, data analysis, and ability to work with cross-functional teams.

Qualifications

• MBA or bachelor’s degree in a related field.
• 8–10 years in Investment Bank Operations or similar.
• Experience in Futures & Options clearing, reconciliation, trade support.
• Proficient in Excel; analytical with data.

Responsibilities

• Perform T+1 trade reconciliation for AMRS/APAC/EMEA.
• Escalate system/connectivity issues to Tech promptly.
• Adhere to procedures and maintain task trackers.
• Handle internal/external queries promptly.
• Collaborate with CSR and reconciliation teams to resolve breaks.

Skills

Strong communication

Analytical skills

Microsoft Excel

Data analysis

Ownership

Teamwork

Education

MBA or Bachelor's Degree

Tools

Excel macros

MS Access

Job description

Job Description:

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!

Global Business Services

Global Business Services 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.

Process Overview

The Futures & Options and OTC Clearing team supports a global client base trading on 40+ global exchanges. It is a fast growing business focusing on growth through new client relationships and expanding marketing channels. The Operations team partners with our Business and Technology counterparts to provide a seamless front to back flow for our clients so they have uninterrupted access to the markets and to their positions and activity so they can best manage risk. Chester is the regional operations hub providing support for markets in EMEA region. We work closely with our regional and global counterparts to present a single global face to clients in the form of consolidated statements, reports, and technology.

Job Description*

The role is part of the Reconciliation team in Bank of America Merrill Lynch’s F&O and OTC Clearing Derivatives group. On a daily basis the Reconciliation team is responsible for Reconciling Futures and Options Trades. This position is primarily responsible for performing account level reconciliation of trades on T+1. This position will be the owner for process related controls. This position plays a key role in controlling operational costs. There will be ad hoc requests or queries from management, traders and internal clients that will require an investigative and inquisitive mindset to support and handle them professionally at the highest service level. This position will require a positive attitude and ability to work in a team environment.

Responsibilities

• AMRS/APAC/EMEA T+1 Trade Reconciliation & Fees
• Quick escalation of system and connectivity issues to Tech team, minimizing downtime of the recon process
• Team orientated environment, associates empowered and encouraged to put forward suggestions for the continual enhancement and development of Procedures and Controls
• Strict adherence to documented procedure, task trackers, whilst carrying out all task
• Handle internal and external queries, either verbal or email, on a timely and accurately
• Effective escalation of issues to management
• Identifying process weaknesses, flagging communication issues to/from clients
• Work closely with internal teams such as the Reconciliation & Control Team and the Client Services Representatives (CSR) Team to resolve breaks

Requirements

Education

• MBA/Bachelor’s Degree from an accredited college or university
• Certifications If Any : NA

Experience Range

At least 8-10 years of relevant experience with an Investment Bank Operations. Preferably in the Futures & Options clearing, Reconciliation, Static Data Management, Trade Support, Trade Settlement etc

Foundational skills

• Should have hands on experience in any of the mentioned functions Trade Clearing, Settlement, GMI, Reconciliation, Static Data Management, Trade Support

Desired skills

• Candidate must have strong communication skills
• Candidate must be able to work without immediate supervision and take ownership of assigned tasks.
• Candidate must be proficient in Microsoft Excel.
• Candidate must have experience analyzing data.
• Knowledge of the derivative industry is preferred.
• Candidate must have above average analytical skills.
• Candidate must have above average Knowledge of general accounting including journal entries and account reconciliations.
• Expertise in excel macro writing, MS Access coding will be added advantage
• Exposure to GMI, TC added advantage

Shift Timings24* 7

Job Location Mumbai

Requirements: