Markets Support Specialist - Global markets Operations- Global Operations

Bank of America; Chicago (IL); On-site; USD 70,000 - 139,000; Full time

Job summary

A leading financial institution is seeking a Markets Support Specialist in Chicago. This role involves providing operational support for securities and derivatives, managing client service teams, and ensuring compliance with internal policies. The ideal candidate will have a strong background in financial services and excellent communication skills.

Benefits

Industry-leading benefits

Paid time off

Discretionary incentive eligibility

Qualifications

• Experience within Financial Services / Banking industry.
• Team experience (>2 Years).
• Good understanding of financial markets (ETD / F&O).

Responsibilities

• Manage a team of client service representatives responsible for F&O Collateral margining.
• Ensure trading and operational activities are completed accurately.
• Research and resolve complex issues related to client interactions.

Skills

Analytical

Problem-solving

Communication

Organizational Skills

Attention to detail

Education

Graduate with a financial degree

Job description

Markets Support Specialist - Global markets Operations- Global Operations page is loaded

Markets Support Specialist - Global markets Operations- Global Operations

Apply locations Chicago time type Full time posted on Posted 3 Days Ago job requisition id 25021357

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. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.

Being a Great Place to Work is core to how we drive Responsible Growth. This includes our commitment to being an inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.

Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations.

At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

Job Description:
This job is responsible for providing advanced end-to-end operational support for securities, loans, exchange traded derivatives and over the counter derivatives across multiple lines of business, and cross-business functional support through the lifecycle of a trade.

Key responsibilities include ensuring trading and operational activities are completed accurately and before deadlines, researching and resolving complex issues, and simplifying client interactions.

Job expectations include being customer oriented and data driven, while focusing on continuous improvement.

Responsibilities:

• Manage a team of client service representatives who are responsible for F&O Collateral margining (Cash & Securities).
• Key escalation point for F&O Margin team and main point of contact for internal and external stakeholders.
• Monitor the firm’s collateralization requirements arising from the trading activities of those counterparties with margin documentation in place.
• Execute collateral substitutions with counterparties
• Preparation/Delivery of Strategic planning for the team
• Responsible for the on boarding of new products
• Responsible for ensuring team adheres to all internal policies, procedures and external regulatory requirements
• Responsible for managing all risk aspects including any internal & external audits.
• Responsible for all Industry Initiatives
• Staff development and appraisal process
• Participating and managing project timelines for strategic initiatives.
• Ensuring all Client Margin Calls covered on a daily basis.
• Dealing with Client Trade & settlement queries on daily basis
• Investigation and resolve of any margin call discrepancies
• Identify and escalate fails in a timely and accurate manner to Credit/Risk Mgmt, Collateral Risk Mgmt and Ops Mgmt.
• Requesting / Booking of FX transactions for all client base
• Dealing with collateral bookings & releases, Pledged & Lodged
• Responding to client inquiries, coordinate with the appropriate Front/Middle Office as well as the core processing area in order to facilitate resolution
• Developing a complete understanding of Bank policies and departmental controls and procedures.
• Provides operational support for one or more activities within the lifecycle of a trade, including trade processing, trade settlement, accounting and reconciliation, lifecycle events, and collateral management
• Provides simplified client interactions and deepens client relationships across Global Banking and Markets' clients
• Completes accurate, timely clearing and settlement of trades with internal and external counterparties including reconciliation management and governance of trade fails and breaks
• Performs tasks accurately during high volume periods in a team environment
• Improves and simplifies the client experience, reducing manual touchpoints
• Supports the implementation of new processes to improve the overall business operating model
• Identifies and flags potential risks in a timely manner

Required Skills:

• Experience within Financial Services / Banking industry.
• Team experience (>2 Years).
• A good understanding of financial markets (ETD / F&O in particular)
• Confident in facing off to senior stakeholders across the business (including Sales, Trading, Product Control, Credit and Legal).
• Excellent verbal and written communication skills.
• Ability to Meet Deadlines
• Organizational Skills with Special Emphasis on the Ability to Prioritize Responsibilities
• Analytical and strong problem-solving abilities.
• Attention to detail, delivering high quality output.
• Strong controls background with previous experience of implementing and maintaining key business controls

Desired Skills:

• Graduate with a financial degree.
• Will consider experience in Finance, Risk Management and Treasury.
• Familiarity with listed FFO and OTC Derivatives lifecycle Skills / Aptitude
• ∙ Excels in working among diverse viewpoints to determine the best path forward
• ∙ Experience in connecting with a diverse set of clients to understand future business needs - is a continuous learner
• ∙ Commitment to challenging the status quo and promoting positive change.
• ∙ Participate in and drive collaborative efforts to advance tools, technology, and ways of working to better serve an evolving client base
• ∙ Believes in value of diversity so we can reflect, connect and meet the diverse needs of our clients and employees around the world

Shift:

1st shift (United States of America)

Hours Per Week:

40

Pay Transparency details

US - IL - Chicago - 540 W Madison St - Bank Of America Plaza (IL4540)Pay and benefits informationPay range$70,000.00 - $139,000.00 annualized salary, offers to be determined based on experience, education and skill set.Discretionary incentive eligibleThis role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.BenefitsThis role is currently benefits eligible. We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.

About Us

Bank of America is committed to help employees through the transition period when they’re displaced as a result of a workforce reduction, realignment or similar measure. Please review the resume writing and interviewing tips provided below to help prepare you for your next career opportunity.

Regardless of the position you are interested in, the starting points to building your resume are the same:
1.Determine the job or types of jobs you want to do and research their responsibilities and qualifications.
2.Think about why you can do the job and make a list of your skills that are relative to the job.
3.Identify experiences or accomplishments that show your proficiency in the skills required for the job.
4.Summarize your abilities, accomplishments and skills into a brief, concise document.

Considerations when writing a resume
•Do be brief. Resumes should be 1-2 pages in length.
•Do be upbeat and active in your wording.
•Do emphasize what you have done clearly and concretely.
•Do be neat and well organized.
•Do have others proofread and critique your resume. Spell check. Make it error free.
•Do use high quality, white or light colored 8½ x 11 paper. Use a laser printer if possible.
•Don't be dishonest, always tell the truth about yourself in the most flattering light.
•Don't include salary history or requirements.
•Don't include references.
•Don't include accomplishments that do not support your professional goals.
• Don't include anything that isn't relevant. (For example, don't mention your fondness for swimming unless you want to work on the water.)
•Don't use italics, underlining, shadows or other fancy treatments.

Seven steps to a successful interview
1.Anticipate –Put yourself in the interviewer's position. What do you believe the interviewer is most interested in? Why do you think you have been invited to interview?
2.Research –What are the primary functions of the line of business? What are the success factors for the job? Is there a job description available?
3.Assess –Think about your skills, abilities, knowledge, interests, traits, values and accomplishments. Match them to what you know about the job. Consider which ones you should highlight.
4.Prepare Answers –Think about what the interviewer may ask, determine what the best answer is and write it down.
5.Prepare Questions – Interviewing is a two-way street. By asking thoughtful questions, you communicate your interest and learn a lot about the job. Choose two or three questions to ask your interviewer. Avoid asking a lot of questions about vacation time or breaks.
6.Practice – It may seem awkward, but it is the best way to come across well in an interview. Practice your own "great responses" with others or in front of a mirror until you appear relaxed and at ease.
7.Follow-up – Send a brief follow-up letter to the interviewer. Keep in mind that the many job searchers will not send a follow-up letter. Sending one can become a competitive advantage.