Officer, Rates PnL, Global Markets Operations and Middle Office 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
Global Market, Rates PnL
Responsibilities
- Production of daily PL risk-based PL explain.
- Include FX and Funding estimates in the daily PL.
- Reconciliation of Front Office to Middle Office PL numbers.
- Reconciliation of Middle Office with sub-ledger PL numbers and submission to ledger.
- Daily PL reporting to Traders and Trading management.
- Ensuring communication with Risk partners on booking/valuation errors.
- EOD curve checks for completeness.
- Ensure use of proper and approved model for valuation.
- Monthly PL and Balance Sheet
- Month end reconciliation of Middle Office to Ledger PL
- Reconcile MTD FX and Funding estimates with ledger numbers.
- Reconciliation of Balance Sheet items and sign off owned accounts.
- Reconciliation of trade input to GL vs. trade input to Risk systems.
Requirements
- Knowledge of the following products types: Interest rate swaps, Cross currency swaps, overnight Index Swaps, Caps/Floors
- University graduate or above having a quantitative qualification/degree including Finance, Mathematics or Engineering degrees.
- Able to manage multiple tasks/priorities/projects
- Ability to work under pressure, working to deadlines
- Strong communication skills - written and verbal
- Dynamic personality with experience in initiating and handling change
- Work experience in Rates Product Control (PC) with working knowledge of PC workflows will be an added advantage.