Futures & Options Regional Clearing Manager for APAC recruitment

Overview

Bank of America is one of the world's largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk-management products and services. The company provides unmatched convenience in the United States, serving more than 59 million consumer and small business relationships with more than 6,100 retail banking offices, nearly 18,700 ATMs and award-winning online banking with nearly 29 million active users. Following the acquisition of Merrill Lynch on January 1, 2009, Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to more than 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients in more than 150 countries. Bank of America Corporation stock is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.

Job Description

The Clearing Manager is responsible for all daily trade processing functions for all APAC markets. The role involves managing a team of 17 associates with 10 based in Singapore as well as local teams in Korea, Japan, Taiwan, and India. Functional responsibilities of the team include trade clearing and allocation, option exercise/assignment, expiration processing, position maintenance, exchange and intercompany margin settlement, and trade break research and resolution. The manager is expected to have detailed product and process knowledge in order to lead the team to complete work accurately and on time. As a member of the management team the Clearing Manager is expected to work closely with Operations, Front Office, and Technology management to manage process gaps and prioritize efforts to create efficiencies and constantly improve the operational support model.

Responsibilities

The characteristics of this role are:
• Provide a high standard of support to both internal or external clients
• Effectively communicate with clients, associates, managers, and peers within Bank of America Merrill Lynch
• Be a strong team player and demonstrate dedication to group and company goals
• Demonstrate professional maturity and effective time management
• Demonstrate the ability to analyze a problem, obtain and evaluate information, and reach sound conclusions

Prime Functions:

• Ensure all functional responsibilities are completed correctly and in a timely manner
• Establish strong working relationships with the clearing staff, monitoring their performance and acting as the escalation point on behalf of the team
• Work with the regional and global front and back office teams to understand the target operating model and deliver results to achieve the stated targets
• Project initiatives - involvement with regards to future automation within the department as a whole, with a direct objective of increased efficiency, accuracy and productivity.
• Support the development of a 'best practice' operations model
• Work effectively with peers locally and across the region to achieve common goals

Requirements

The ideal candidate will have the following attributes:

• Excellent attention to detail
• Must be responsible and take ownership of the job which is allocated
• Must be organized and able to multi-task often working to tight deadlines.
• Must have demonstrated an ability to handle numerous activities and to prioritize work effectively.
• Must be pro-active and be a problem solver
• Must be highly professional while interacting with several departments within the company
• Must be flexible often dealing with ad-hoc queries
• Must demonstrate an understanding of the risks involved in the processes and reflect this in their approach to work prioritization
• Must be a team player Qualifications Experience:

• Proven track record in a Futures and Options Operations Management role
• In depth understanding of futures markets and operations
• Proven ability to communicate in a clear, concise and professional manner
• Strong time management skills with the ability to prioritize under pressure
• Experience of GMI considered a strong plus, but not required