COMMODITIES SETTLEMENTS
Bank Of America - London

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Overview

Bank of America Merrill Lynch provides comprehensive market, industry, product and advisory expertise to more than 140,000 businesses around the globe. With unrivalled insight and access delivered by dedicated relationship teams, we connect clients with the right opportunities in more than 150 countries throughout http://gcibprototypes.bankofamerica.com/globalregions/emea .htm> Europe, the Middle East and Africa , http://gcibprototypes.bankofamerica.com/globalregions/asia .htm> Asia Pacific and the http://gcibprototypes.bankofamerica.com/globalregions/us .htm> Americas .

Bank of America Merrill Lynch’s Europe, Middle East and Africa (EMEA) footprint comprises of 32 cities across 23 countries on three continents. The company is a long-established participant in the European markets, with a presence since 1922. Currently over 14,000 associates are based in EMEA.

Globally, Bank of America Merrill Lynch serves clients and customers in more than 150 countries and has relationships with 99 percent of the U.S. Fortune 500, nearly 96 percent of the Fortune Global 500 and 33 percent of the FTSE 100.

Today, 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.

Global Banking & Markets includes corporate banking, investment banking and sales trading. The group provides services to middle-market and large corporations, government entities and institutional investors. These services include mergers and acquisition advice, equity and debt capital raising, corporate lending, sales and trading in fixed income, commodities, currency and equities, risk management, research, and liquidity and payments management.

Global Wealth and Investment Management is one of the largest wealth management businesses in the world with $1.9 trillion in total client assets. The business provides comprehensive wealth management to affluent and high net worth clients, as well as retirement and benefit plan services, philanthropic management and asset management to individuals and institutions.

Bank of America Merrill Lynch offers a number of outstanding career opportunities designed to attract and retain all skill levels – a chance for both personal and professional development as well as a salary and benefit package designed to reflect the individual’s contribution.
Job Description

The Commodities Settlements team supports the EMEA Commodities Business across the following business lines: Gas, Power, Coal, Freight, Emissions, Oil, FX, Commodity Index, Softs, Base and Precious Metals. Trading is both physical and financial exchange and OTC. Products range from vanilla derivatives to complex options and structured and hybrid products.

The team is responsible for the accurate and timely pre confirmation and settlement of cash between Merrill Lynch and third parties along with accurate reconciliation of daily cash movements.
Responsibilities

Responsible for the accurate & timely settlement of Commodity Index, & Base metals transactions. NB Cross product experience preferable i.e. Coal, Freight, and Oil.

Daily Operational risk management & control of all processes

Ensure Nostro & Ledger break clearance targets are achieved & new breaks are kept to a minimum.

Interaction with Desk Support team, Product Controllers, Documentation team, & other Client Service groups

Building key relationships with our clients.

Process improvement.

Developing detailed procedures and workflows
Requirements

PC Skills - Word, Excel

Strong Communication Skills

Ability to liaise with Legal, Credit, Technology, Finance, Trading Desk, Brokers, Exchanges and Clients on related issues

Strong Attention to detail

High level of accuracy and competency is essential

Commodities experience is essential

Solid Product knowledge

Exposure and experience in Commodity related documentation an advantage but not essential

Previous management experience preferred. Ability to coach & interact with associates at all levels.
Ability to communicate effectively across hierarchy

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Bank of America Corporation is a bank holding company. Through its banking subsidiaries (the Banks) and various non-banking subsidiaries...