Principal Engineer - GMI Next Gen

Hobbsnews; Chicago, Northern (IL, KY); Hybrid; USD 157,000 - 230,000; Full time

Job summary

Bank of America in Chicago, IL is seeking a Senior Engineer to define and lead the engineering approach for the GMI migration program, delivering scalable technology enablers and reusable components across the Back Office. The role requires deep domain knowledge of GMI and futures/options clearing.

You will guide cross-team design reviews, select tool stacks, and drive end-to-end test strategies while maintaining industry-standard SDLC and collaboration with vendors.

Qualifications

• 10+ years GMI knowledge.
• 10+ years Futures & Options Clearing front-to-back knowledge including client allocations, clearing workflow, Fees & Commissions, margins and Regulatory Reporting
• Experienced Principal Engineer to migrate from GMI to new system
• Experience leading technical delivery teams with a proven track record
• Strong understanding of functional architectures within Clearing Technology space
• Ability to work with vendor SMEs to develop technical architecture/solutions
• Ability to work under pressure and remain focused on targets to hit delivery dates

Responsibilities

• Develops the engineering approach for the entire program/portfolio solution and works with Architecture, to develop/analyze/deliver the implementation of technical enablers
• Leads the planning, definition, and design of the complex features which span multiple teams and explore solution alternatives
• Creates ideas on designing complex technology and solution development approaches
• Leads technical oversight for teams in solution development including design reviews and code within own domain
• Defines the technology tool stack for the solution within range of internally approved and supported technologies
• Explores state-of-the-art technologies to improve development efficiencies, quality of test/QA coverage, and release management
• Leads and is responsible for the end-to-end test strategy/creation/adherence, and the integration between teams for a program/portfolio solution
• Providing directions to GMI Technology teams working on the migration program
• Working with Program Managers to plan and prioritize technology focused items
• Technical co-ordination of GMI Technology migration projects with other work streams within the overall program
• Ensuring all non-functional requirements are met in new solution
• Developing a clear, efficient and clean eco-system architecture
• Always maintaining a working eco-system around GMI and its replacement platform
• Always maintain the highest technology SDLC standards

Skills

Automation

Influence

Result Orientation

Stakeholder Management

Technical Strategy Development

Application Development

Architecture

Business Acumen

Risk Management

Solution Design

Agile Practices

Analytical Thinking

Collaboration

Data Management

Solution Delivery Process

Education

Bachelor’s degree or equivalent work experience.

Job description

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 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!

This job is responsible for defining and leading the engineering approach for solutions at the program or portfolio level, to deliver significant business outcomes. Key responsibilities include continuously improving the design, quality, and reuse of the solution and delivering technology enablers that improve development efficiencies for the solution. Job expectations include familiarity with at least one area of engineering, acting as a “go to” reference across the organization, and applying knowledge to improve technical competencies through recruitment and development activities.

The Cleared Derivatives and Collateral Technology group sits within the Global Markets Technology division. The group is responsible for the delivery of a wide range of technology solutions which support Middle and Back Office markets operations for the firm across Futures, Options and Cleared OTC products. You will be joining the Back Office (GMI) EMEA team within Cleared Derivatives and Collateral Technology. This is a long-established team with experienced professionals which forms part of Cleared Derivatives Technology globally.

The GMI Next Gen program is looking to replace the current legacy Back Office platform and a Technology lead is required to drive the technology aspects of migration.

Responsibilities

• Develops the engineering approach for the entire program/portfolio solution and works with Architecture, to develop/analyze/deliver the implementation of technical enablers
• Leads the planning, definition, and design of the complex features which span multiple teams and explore solution alternatives
• Creates ideas on designing complex technology and solution development approaches
• Leads technical oversight for teams in solution development including design reviews and code within own domain
• Defines the technology tool stack for the solution within range of internally approved and supported technologies
• Explores state-of-the-art technologies to improve development efficiencies, quality of test/QA coverage, and release management
• Leads and is responsible for the end-to-end test strategy/creation/adherence, and the integration between teams for a program/portfolio solution
• Providing directions to GMI Technology teams working on the migration program
• Working with Program Managers to plan and prioritize technology focused items
• Technical co-ordination of GMI Technology migration projects with other work streams within the overall program
• Ensuring all non-functional requirements are met in new solution
• Developing a clear, efficient and clean eco-system architecture
• Always maintaining a working eco-system around GMI and its replacement platform
• Always maintain the highest technology SDLC standards

Required Qualifications

• 10 yr+ GMI knowledge
• 10yr+ Futures & Options Clearing front to back knowledge including client allocations, clearing workflow, Fees & Commissions, margins and Regulatory Reporting
• Experienced Principal Engineer to migrate from GMI to new system
• Experience leading technical delivery teams with a proven track record
• Good understanding of functional architectures within Clearing Technology space
• Ability to work with vendor SMEs to develop technical architecture/solutions
• Ability to work under pressure and remain focused on targets to hit delivery dates

Desired Qualifications

• Prior experience of BofA GMI ecosystem strongly preferred
• Prior experience of large-scale migration projects
• Prior experience of working with vendors on technology projects, especially FIS

Skills

• Automation
• Influence
• Result Orientation
• Stakeholder Management
• Technical Strategy Development
• Application Development
• Architecture
• Business Acumen
• Risk Management
• Solution Design
• Agile Practices
• Analytical Thinking
• Collaboration
• Data Management
• Solution Delivery Process

Minimum Education Requirement

Bachelor’s degree or equivalent work experience.

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), US - NJ - Jersey City - 525 Washington Blvd (NJ2525)Pay and benefits informationPay range$156,500.00 - $230,000.00 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.10+ years experience