Manager

Bank of America; Mumbai; On-site; INR 1,500,000 - 2,100,000; Full time

Job summary

Bank of America in Mumbai seeks a seasoned finance professional to join Global Markets Product Control. The role focuses on daily P&L production for Fixed Income desks, variance analysis against trader estimates, and close collaboration with Front Office, Middle Office, and Finance to ensure data integrity and timely issue resolution.

The candidate will work across LR, CFD, and NLR PnL areas, applying analytical skills to explain drivers and support month-end controls while engaging with

Qualifications

• Qualified Chartered Accountant/CPA/CFA/MBA from Tier I/II institute with relevant experience in Product Control or Global Markets.
• Experience with US GAAP, IFRS, IAS reporting framework is a plus.
• 4–8 years in Global Markets Product Control or similar role.

Responsibilities

• Production and reporting of daily P&L to Front Office & Senior Management.
• Reconcile actual P&L with trader estimates and provide flash/actual variance analysis.
• Work closely with trading desks on position, P&L or other issues on an ad-hoc basis.
• Front-to-Back analysis & reconciliations of front office PnL and balance sheet to firm sub-ledgers.
• Assist with month-end controls ensuring management vs financial PnL variances are within thresholds.
• Analyze traders’ risk positions and understand Greeks vs daily market moves.

Skills

Financial analysis

Excel

Communication skills

MS Office

Time management

Education

Chartered Accountant (CA)

CPA / CFA / MBA

Tools

Alteryx

Python

Tableau

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. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day. Being a Great Place to Work and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates’ physical, emotional, and financial wellness through affordable, competitive and flexible benefits. We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve. Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs. At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. 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. and the operating company for India operations of Global Business Services.

Process Overview

Business Finance and Control (BFC) sit within the CFO Org and is mainly responsible for ensuring strong financial controls along with enabling the business. Global Rates (GR) BFC supports the GR business, which falls under Global Markets and specifically in the Global Market FICC division. The GR business includes 1) Linear Rates which is responsible for market making (linear rates product); 2) Cross Asset Structured Notes - Central Funding Desk (CFD) responsible to centrally manage and own the various exotic structured notes issued by the bank and 3) Non-Linear Rates – which consists of Structured Exotic Rates Products. The GR BFC teams are responsible for assisting in Analysis & reporting of LR, CFD & NLR PnL and ensuring integrity, completeness, and accuracy of PnL data. Teams work closely with CPM front office desks and support them on various other initiatives to enable the business and ensure better controls.

Job Description

The GR BFC teams are responsible for assisting in Analysis & reporting of LR, CFD & NLR PnL and ensuring integrity, completeness, and accuracy of PnL data. Teams work closely with CPM front office desks and support them on various other initiatives to enable the business and ensure better controls. We are looking to recruit an individual to work in the P&L production area covering the Treasury/Fixed Income/FX trading desks. The candidate’s main responsibility will be to produce and deliver the daily P&L to front office, providing a high standard of analysis and explanation around any issues faced and daily revenue drivers. The candidate will therefore have considerable interaction with the respective Front Office, Middle Office, Finance and Trade Capture teams so good communication and time management skills are an essential requirement for this job. Primary products covered will include Fixed Income, Swaps, FX, Rates.

Responsibilities

• Production and reporting of daily P&L to Front Office & Senior Management
• Reconcile actual P&L with trader estimates and provide flash/actual variance analysis.
• Working closely with the trading desks on position, P&L or other issues on an ad-hoc basis
• Front-to-Back analysis & reconciliations of front office PnL and balance sheet to firm sub-ledgers.
• Assist with execution of month-end controls ensuring management vs financial P&L variances are within thresholds.
• Analyze traders’ risk positions and understand and apply the Greeks (Delta, Vega Gamma) vs daily market moves.
• Would be typical own set of books / cost center and Business Units
• Liaise with various business partners such as Technology, Market Risk, Credit Risk, Operations and Finance to resolve issues / queries.
• Development & continuous improvement of existing processes & workflow
• Testing / UAT for systems work ranging from minor system releases to major system implementations.
• Remediation of issues in an autonomous yet timely manner considering the principles of control and the need to mitigate operational risk.

Requirements

• Education* Qualified Chartered Accountant/CPA /CFA / MBA from Tier I/II institute with relevant experience in Product Control or Global Markets environment and organization of similar scale with US GAAP, IFRS, IAS reporting framework with an interest and aptitude for derivative products
• Certifications If Any CFA / FRM certified candidates would be preferred
• Certifications If Any Advanced education and/or enhanced technical qualifications are a plus
• Experience Range* 4 to 8 years with at least 4+ years’ experience in Global Markets Product Control role
• Foundational skills* Proficiency in MS Office Suite; expert knowledge of Excel, Word, PowerPoint. Knowledge of Visual Basic, Access databases and macros will be an added advantage. The right individual will have strong people skills and can multi-task to manage the challenges of Finance processes yet have the awareness to elevate potential issues to their supervisor in a timely manner Candidate must have a proven track record of communicating effectively with personnel from various areas within an organization and at different management levels Must be proactive and be a highly motivated self-starter. Reactive and/or passive individuals need not apply

Desired skills

• Alteryx / Python / Tableau knowledge would be an added advantage
• Must be proactive and be a highly-motivated self-starter
• Effective communication skills with English proficiency
• Demonstrated ability to work in a high pressure environment
• Takes initiative and challenges existing processes and procedures in a proactive manner
• Strong team player
• Ability to analyze issues independently and derive solutions
• Analytical skills
• Inherent sense of principles of control through experience and sound judgment
• Reliability

Work Timings

12:00 PM to 09:00 PM IST

Job Location

Mumbai/Hyderabad

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 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!

Partnering Locally

Learn about some of the ways Bank of America is making a difference in the communities we serve.

Global Impact

Learn about the six areas that guide Bank of America’s efforts to help make financial lives better for customers, clients, communities and our teammates.

Opportunity and Inclusion

Each employee brings unique skills, background and opinions. We see opportunity and inclusion as our platform for innovation and a key component in our success.

Our Values

Learn about our four values that represent what we believe.