Team Leader - R

Bank of America; Chennai District; On-site; INR 600,000 - 1,200,000; Full time

Job summary

Bank of America in Chennai seeks a professional to support Money Market and Custody Reconciliation operations within Global Business Services. The role focuses on reconciling Trading/IOTP activity, cash movements, and mutual fund holdings, with emphasis on accuracy and daily turnaround times.

The candidate should be a Commerce graduate with 5–7 years in reconciliation, excel proficiency, and strong communication to coordinate with internal and external teams.

Qualifications

• Commerce graduate with finance or banking certifications preferred.
• 5–7 years of experience in reconciliation and wealth management.
• Strong MS Excel and MS PowerPoint skills.
• Excellent communication and attention to detail.
• Ability to work under pressure and meet daily deadlines.

Responsibilities

• Complete daily deadlines in a timely manner.
• Use critical thinking to decipher internal vs external transactions.
• Provide high quality service and respond to inquiries.

Skills

Excel

MS Office

Communication

Attention to details

Reconciliation

Analytical skills

Time management

Education

Commerce degree

Finance/banking certs

Tools

MS Excel

PowerPoint

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.

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

Money Market Reconciliation is responsible for reconciling Trading/IOTP (Investment Only Transmission Platform) trading activity and Cash Operations funding/money movement for all money funds and bank products. Resolution of discrepancies is achieved by working with our business partners and using several research avenues to resolve all break items promptly. The reconciliation is an intensively manual process that occurs on a daily basis.

Custody Reconciliation is primarily responsible for the position reconciliation of Mutual Fund holdings offered on the MLPF&S platform. The reconciliation performed is at the omnibus level. Internal books and records are systematically reconciled against settled transaction at the Third Party Mutual Funds through the Inventory Control System (ICS) application. Daily, the processors will be asked to create the daily Exposure report detailing unreconciled positions in IC S. In addition to creating and saving the daily exposure report, processors will be assigned Fund Groups they will be responsible for reconciling. Processors will work with both internal and external teams to fully reconcile all exception items.

Managed Account Recon is responsible for all manual reconciliations of managed accounts and the activity within them, daily. They review all accounts within multiple applications and make manual adjustments as needed. Resolution of discrepancies is achieved by working with our business partners and using several research avenues to resolve all break items promptly. The reconciliation is an intensively manual process that occurs on a daily basis.

Job Description

This individual should be comfortable in a fast-paced, detail-oriented environment and is dedicated to maintaining the highest standards of accuracy and Turn around time. The candidate is expected to resolve queries and provide support to the team in critical situations. Sense of urgency and attention to detail are pivotal competencies required to perform the functions. The candidate must be proficient in Excel with the ability to complete multiple formula functions. The candidate must have communication skills including written communication as the processor will need to work with both internal and external teams to perform the reconciliation. Critical thinking skills are a must as breaks can occur for a variety of reasons due to the nature of Managed Account strategies. The candidate must have the ability to understand ledger balances and various transaction activities to perform accurate reconciliations. This is an extremely high risk and high dollar value reconciliation (Daily balances include Billions of Dollars).

Responsibilities

• Complete daily deadlines in a timely manner.
• The processors will need to use critical thinking to decipher internal transactions compared to external activity that occurred at the Fund The processors will need to know how to decipher and compare House Account statement and client transactions.
• Provide a high level of quality service, support, and responsiveness and communicate effectively.
• Perform & review assigned month-end close responsibilities and prepare internal management reports.

Requirements

• Creative and analytical approach to problem solving
• Good understanding of Booking keeping, Journal Entries, Reconciliation
• Strong communication and interpersonal skills and ability to change communication style based on the audience
• Strong knowledge in MS Office products including MS Excel, PowerPoint
• Attention to details and drive for accuracy
• Ability to work well under pressure
• Flexible for shifts

Education

Minimum Commerce Graduate Certifications If Any - Any certification in finance or banking

Experience Range

60 months to 84 months

Foundational skills

Basic banking, Reconciliation and Wealth management knowledge Good communication and listening skills. Strong analytical skills with great attention to details Organized and able to multi-task in a fast-paced environment

Desired skills

Highly motivated, able to work independently Excellent interpersonal skills, positive attitude, team-player Willingness to learn and adapt to changes Good knowledge with Microsoft Excel & PPT

Work Timings

05:30 pm to 02:30 am or 06:30 pm to 03:30 am

Job Location

Chennai

Community Impact

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.