Analyst Β» Bank of America

Analyst at Bank of America in Charlotte, NC

πŸ“Œ Charlotte 🏷️ Other πŸ•‘ 2021-08-04
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Fixed Income Operation Trade Control Analyst - XVA

Charlotte

Job Description

Summary FDCO (Fixed
- Income Core Operation) organization is seeking a qualified individual to support the trade-capture workflow for the XVA Desk within Global CPM (Counterparty Portfolio Management), with a focus on rates, credit and FX derivatives. The XVA Desk is responsible for managing the exposure of the firm to valuation adjustments on its derivative positions due to funding cost, credit risk, and regulatory capital costs. The desired candidate should possess a working understanding of derivatives products. These would include IR Swaps, Swaptions, CDS, CDS Index etc, with focus on rates products. The candidate must have excellent MS Excel skills and must be an excellent written and verbal communicator. The role is fast-paced and often has simultaneous competing priorities and as such, the applicant must be able to properly prioritize their time and be comfortable in a fast-paced work environment. The role requires all trade issues to be monitored, escalated as necessary, and resolved in a timely and efficient manner. As a result, this role is an escalation point for the various Operations Teams, and external clients on transaction related issues. Cross training with team members supporting other products will be required for coverage purposes.

Position Description

Work in a fast-paced environment with direct communications with Trading Desk and Sales Monitor workflow in the primary trade capture system, as well as system of record Apply independent judgment and discretion when resolving trade discrepancies to ensure that the correct risk is always reflected in Front
- Office Trading system and Back Office Risk Systems Based on product, system and proprietary knowledge, identify and resolve variations in risk in the primary trade capture system, eg. Booking errors leading to fee discrepancies. Primary point of contact for the Front Office, Operations, and Finance on topics relating to trade capture. Understand various idiosyncrasies and conventions of Structured Notes and their related hedges in order to provide SME(Subject
- Matter Expert)-level support. Ensure internal risk positions are appropriately reflected to mitigate any risk to the firm's capital Ensure initial trade bookings, trade amendments, allocations and novations occur in a timely manner to meet Transaction Reporting requirements Ensure trade bookings are compliant within existing regulatory frameworks such as Volcker CFTR, UMR, etc Responsible for global connectivity and communication with counterparts across various Line-of
- Business to ensure consistency and alignment to target Control Standards within Trade Control

Basic Qualifications

Solid understanding of basic financial concepts such as time value of money, interest rate, mark-to-market, and time series modeling. Excellent Excel reporting-related skills Detail-oriented to operation trade flow, data entry, and data reconciliation Ability to liaise across multiple functional teams to resolve issues Ability to operate autonomously without direct supervision Ability to quickly analyze and make decisions in the event of a problem Ability to quickly grasp new industry practices and create/document new processes Strong organizational skills and ability to effectively prioritize multiple tasks Desired

Qualifications

1 - 3 years of experience in the trade control / fixed income operation space Macro/VBA Knowledge Experience in supporting rates, FX, and credit derivative trading Knowledge of financial processing systems and accounting Understanding of the "Best Practices" and front-to-back product flow to manage Operational Risk Relevant industry product knowledge Proactive thought leadership to identify and deliver process improvements and efficiencies Knowledge of industry regulatory frameworks such as Volcker Reporting and DTCC Real
- Time Reporting At Bank of America , we're creating real, meaningful relationships with individuals, businesses and communities to help them focus on what matters most. We serve approximately 66 million consumer and small business clients , using our skills and expertise to help make their lives better. We are committed to attracting and retaining top talent around the world to ensure we continue to deliver together for our customers, clients and communities. Along with taking care of our customers, we want to be a great place for people to work, and we strive to create an environment where all employees have the opportunity to achieve their goals. 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. Diversity and Inclusion Each employee brings unique skills, background and opinions. We see diversity 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.

View Application

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You will be redirected to Bank of America's preferred application process.

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