Vice President, Senior Operational Risk Specialist, Global Wholesale Banking Technology & Operations 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

A) Distribution Activities - Single transactions (new and amendment)

· Review Participation Certificate, Transaction Document, Investor Bank Acceptance and FICR approval

a. Ensure Master Agreement does not have any clauses violated in PC

b. Ensure available amount of transaction is not already sold to a different investor bank

c. Ensure transaction offered is in line with Risk Distribution Program parameter

d. Ensure all transaction details from transaction document and details in PC match

e. If unfunded risk distribution, ensure CFR limit is sufficient; if not ensure proper approvals received

f. Ensure Risk Distribution is priced at or lower than origination/transaction price or has requisite approvals from regional identified approvers as necessary

· Sign the PC, send the PC and underlying documents to investor bank, follow up for return signed copies, verify signatories including fax/scanned copies

· Funded risk participation would require coordination with Operations and Treasury for rates and working with distribution to ensure there will not be a loss on the distribution due to LIBOR/LIBID rate differential.

B) Post Distribution - Single transactions

· Reconciliation

Reconcile to determine

a. whether Risk Distribution Entries passed correctly

b. Transaction CFR set up is correct

· Payment Received upon Maturity

a. Check with Trade Ops that investors have been advised of presentation amounts and maturities;

b. At transaction maturity, check that investors have been paid their participation fees and released.

· Payment NOT Received upon Maturity

Coordinate Risk Distribution Desk, LOB and Legal with necessary documentation to send default notice to Investor Bank by X number of days as provided in Master Agreement

Requirements

Required Skills:

· Fluent in written verbal English

· Basic understanding of trade finance with expectation of becoming an expert over time

· Strong experience in using bank credit related systems and commitment processes at a minimum GBS, CAM, ECRIS/CRMS, ECF, PAC/KYC

· Ability to think analytically at stratgic as well as detailed level

· Ability to communicate with global units independently

· Strong computer skills including Excel, Word and PowerPoint

Desired Skills:

· Excellent interpersonal skills with strong ability to influence

· Ability to mentor Trade Booking unit on communication of transaction information and system usage