Vice President, Operations Manager- Securities 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 GMIS Taiwan Equity team currently is comprised of 6 headcounts in total. The AVP role acts as deputy for the GMIS Taiwan Operations head and supervises the 4 operational staff underneath.

The team handles trade processing, local settlement and clearing activities for equity agency business, and monitors respective risk and control functions in Taiwan market. The team maintains local books and records and ensures transactions to be processed per ML policies and procedures.

The team consolidates metrics and key performance indicators as required for Taiwan market per regional criteria for trend and gap analyses to the management. The team also liaises with regional client services counterparts and various Equity businesses on new initiatives, and acts as a focal point of contact for them in respective business. The team plays a crucial role in developing operational strategies to re-engineer processes to improve efficiency.

GMIS Taiwan team covers settlement functions in local currency equity products for Taiwan market. The settlement functions also accommodate various exotic equity procedures in Taiwan market done by DMA access, Stock Loan, Proprietary Trading Desks, and Prime Brokerage clients. Functions include checking booking accuracy, posting journal entry, performing reconciliation, following up on trade confirms, a/c allocations, initiating stock borrows for failed trades, monitoring fails and stock borrow/returns, and liaising with internal/external clients. For Equity Derivatives business, the team also serves as the key processing and onshore contact for issuing Taiwan listed warrant. The functions include prior listing documentation preparation and checking; post listing risk management and reporting.

Responsibilities

· Day to day line management responsibilities of the team and direct reports.

· Understand both internal and external client needs and the operational impacts on them. Assist Operations head to develop plans and execute them to improve the service quality to the clients and to drive enhancements to workflow for scalability.

· Managing Risk, Regulatory and Compliance requirements. This include onshore regulatory reports, BASO reconciliations and regional risk matrix reports for the team.

· Work on projects and new initiatives to cater for new business/industry/client requirements and needs. Monitor the project and new initiative progress.

· Work with regional teams to develop processing flows, collect metrics and use them to measure and monitor performance of the team. Understand where to focus and what to change to improve performance.

· Assist Operations Head to devise key strategies and vision to constantly challenge how we can be better at delivering quality and results to our clients.

Requirements

Essential soft Skills:

Candidate should possess solid leadership and management experience with track records of developing and empowering staff to deliver results with an emphasis on service and control or have potential to achieve this. Due to extensive interaction with Business and external clients, candidate must have excellent communication skills, both written and verbal with ability to forge relationships and build a strong network and leverage resources within the firm to deliver results. The role is broad and diverse and provides an opportunity to drive strategic change and transformation. Candidate is expected to take ownership of issues and be proactive in nature. He/she should be confident and innovative with ability to solve problem effectively and assist to mentor others. Essential Experience/Technical Knowledge: