Senior Operations Manager

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

Job summary

Bank of America is looking for a qualified individual for the Valuation Control area within Global Markets in Hyderabad/Mumbai. The candidate will perform Independent Price Verification and engage with various teams to ensure compliance with valuation standards. Candidates with 10+ years in financial roles, preferably with a Chartered Accountant/CPA /CFA /MBA degree, are encouraged to apply. Strong analytical and communication skills are crucial for success in this dynamic work environment.

Qualifications

• 10+ years of experience with at least 6+ years in Global Markets Valuation Control role.
• Experience in valuation controls including IPV, valuation adjustments, and fair value assessments.
• Able to communicate effectively across various organization levels.

Responsibilities

• Perform valuation controls including IPV and valuation adjustments.
• Lead discussions with the trading desks on valuation issues.
• Ensure audit readiness and compliance with business finance policies.

Skills

Effective communication skills with English proficiency

Ability to analyze issues independently

Proactive and highly motivated self-starter

Strong team player

Analytical skills

Education

Qualified Chartered Accountant/CPA /CFA / MBA from Tier I/II institute

Tools

Alteryx

Tableau

Python

Access

VBA

Job description

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.

Process Overview

Global Markets Business Finance & Control (BF&C) is a division of Global Banking & Markets (GBAM) Finance responsible for the production and independent validation of Global Markets' profit and loss and balance sheet. The team is also responsible for running valuation controls to ensure fair value of balance sheet in accordance with internal valuation methodology and regulatory requirements. This includes independent price verification of both vanilla securities/derivatives and complex/illiquid assets such as exotic derivatives and distressed assets. Additionally, the team also calculates relevant valuation adjustments including adjustments for illiquidity, concentration, model limitations etc. as applicable. The team is also responsible for calculating and reporting prudential valuation adjustments on a quarterly basis.

The team works closely with front office, middle office, traders, valuation control and methodology (GVG) teams to drive the control agenda across the business.

Job Description

IPV Center of Excellence forms part of the GBAM CFO Group and is a control and business advisory function. The team's work primarily covers valuation controls for various asset classes across Global Banking and Markets, with a dynamic book of work providing opportunities to centralize, enhance and implement best practices for global valuation routines.

We are looking to recruit an individual to work in the valuations control area for one of the asset classes within FICC Macro (Rates/FX/Commodities) / FICC Micro (Credit/Mortgages/Munis) / XVA / Equities businesses in Global Markets. The candidate's main responsibility will be to perform Independent Price Verification, Valuation Adjustments, Prudent Valuations and Fair Value Hierarchy assessment, providing a high standard of analysis and explanation.

The candidate will therefore have considerable interaction with the respective Front Office, Finance and Global Valuations Group (GVG) teams so good communication and time management skills are an essential requirement for this job.

Responsibilities

• Performing the calculation and analysis of valuation controls including IPV, valuation adjustments and prudent valuation adjustments, as well as ownership for Fair Value Hierarchy levelling.
• Provide strong technical leadership on independent valuation principles.
• Work closely with the trading desks on valuation issues and valuation differences.
• Lead conversations with Front office with respect to IPV variances, changes in valuation adjustments etc.
• Assist with execution of month‑end controls and supervisory review routines pertaining to valuation control.
• Analyze traders' risk positions and understand and apply the Greeks (Delta, Vega Gamma) vs daily market moves.
• Ensure audit readiness and compliance for the function as required by business finance policies, guidelines, and regulatory requirements.
• Develop, standardize & continuous improvement of existing processes & workflow.
• Remediation of issues in an autonomous yet timely manner considering the principles of control and the need to mitigate operational risk.
• Be pro‑active and engage control partners/technology to identify and mitigate operational risks.

Education

Qualified Chartered Accountant/CPA /CFA / MBA from Tier I/II institute with relevant experience in Valuation 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

• CFA / FRM certified candidates would be preferred.
• Advanced education and/or enhanced technical qualifications are a plus.
• Ability to use Access or VBA would enhance the candidate's attractiveness significantly.

Experience Range

10+ years with at least 6+ years' experience in Global Markets Valuation Control role.

Foundational Skills

• Alteryx / Tableau / Python knowledge would be an added advantage.
• 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.

Desired Skills

• 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

12:30 PM to 9:30 PM IST

Job Location

Hyderabad / Mumbai