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. Bank of America Merrill Lynch is the marketing name for the company’s global banking and global markets businesses.
The company is a long-established participant in the European marketplace, with a presence since 1922. With offices throughout Europe and CEEMEA, the company offers an integrated and comprehensive set of products and services across all businesses, serving the needs of individual, corporate, institutional and government clients, by combining the best of local knowledge and international expertise. Bank of America Merrill Lynch has a strategic and measured approach to its international development and is strengthening its business and infrastructure to create sustainable, long-term growth.
Job Description
An opportunity has arisen for an operations analyst to work within the FICC Derivative Client Service and Settlements team. This is a client based role and each analyst will be responsible for a sub-set of broker, Corporate and institutional clients supporting the range of FICC derivative products (i.e. Interest Rates Swaps, Cross Currency Swaps, Notional Reset Currency Swaps, Credit Default Swaps, Asset swaps, Swap options, Cap/Floors, Inflation swaps etc..)
This team will fall under the Cross product Derivative Operations group in Chester working closely with Middle office trade support and P&L teams, Documentation and other product groups.
Responsibilities
Responsible for agreeing and confirming all cash flows with Clients and resolving any differences that arise across a wide range of FICC products.
Preparation of the daily cash flows for funding and release to our correspondent bank network in accordance with banking deadlines.
Ensuring integrity of information in source systems (both trade and counterparty information).
Dealing with settlement related enquiries for both internal and external clients and achieve timely resolution of all same day items.
Risk Management and control of all processes
Ensure break clearance targets are achieved and new breaks are kept to a minimum, actively monitor break levels and manage accordingly
Root cause analysis of breaks
Timely resolution of all non receipts/Unadvised funds with clients
Responsible for escalating all outstanding items/queries to senior management for reporting purposes.
Interaction with Traders, Sales, Middle Office desk Support team, MO Product Controllers, Documentation team, agent banks and other Client Service groups
Process improvements and project work
Involvement in ad hoc testing
Requirements
Essential
Educated to Degree level within a numerical or business related disapline
Effective communication skills
Excellent attention to detail and time management
Able to demonstrate a logical approach to problem solving
Ability to work under pressure and multi-task
Ability to work on own initiative while remaining team focused at all times
A good understanding of multi-currency banking
A good working knowledge of Excel and Word
1-2 years’ previous financial experience
Desirable
A knowledge of FICC derivative business (Rates, Credit, FX, Commodities Business) Bank of America - 11 months ago
