Market Support Analyst -Foreign Exchange Trade Control
Charlotte, North Carolina
Job Description:
At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day.
One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We're devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.
Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.
Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us!
Job Description:
This job is responsible for providing operational support for securities, loans, exchange traded derivatives and over the counter derivatives across multiple lines of business through the lifecycle of a trade. Key responsibilities include handling trading and operational activities before deadlines, maintaining internal systems and providing operational support to internal partners. Job expectations include maintaining a high degree of accuracy with customers and data to ensure compliance with regulations and policies.
Line of Business Job Description:
Currency, Commodities & Derivative Operations (CCDO) provides full operational support for the FX and Commodities businesses, including Trade Control, Confirmations and Settlements, as well as supporting the FI & Equity businesses by performing confirmations and settlements for OTC derivatives. The key processes performed by the team include:
FX & Commodities Trade Control: trade validation, trade maintenance, break resolution and trade reconciliation
FX, Commodities & OTC Derivative Confirmations: electronic matching, paper confirmation drafting and issuance and confirmation query resolution and execution
FX, Commodities & OTC Derivative Settlements: settlement affirmation and release, client query management, post-settlement break resolution and platinum client relationship management
FX, Commodities & OTC Derivative Account & Balance Management: exotic currency balance management, nostro account management and client SSI management.
Responsibilities:
Performs set-up and maintenance of core data across client, account, instrument, and agreement data, and oversees data quality within key data platforms
Ensures transactions are completed in an accurate and timely manner
Provides operational support for one or more activities within the lifecycle of a trade, including trade processing, trade settlement, accounting and reconciliation, lifecycle events, and collateral management
Conducts daily monitoring of client trading activity across multiple markets, servicing clients' needs
Completes accurate, timely clearing and settlement of trades with internal and external counterparties, including reconciliation management and governance of trade fails and breaks
Performs tasks accurately during high volume periods in a team environment
Identifies and flags potential risks in a timely manner
- Trade Validation - reconciling trades to ensure trades are booked accurately in the system.
- Performing trade amendments to correct booking errors.
- Investigating and resolving breaks - Working closely with Sales, Trading and Operations to resolve breaks.
- Adhoc Projects involving building requirements, stakeholder engagement, testing and implementation.
- Process Improvements - generating ideas for how to improve efficiency and control, and seeing them through to implementation.
Requirements
- Keen desire for learning and intellectual curiosity
- Detail oriented
- Good controls mind set and risk appetite
- Experience working to tight deadlines
- Ability to challenge and improve existing processes
- Good communication and negotiation skills and the ability to build relationships across all levels of seniority
- Excellent organizational skills are required with the ability to prioritize daily workload whilst working accurately in a high-energy environment
- Keen analytical skills including data reconciliation and interpretation
- Logical approach to problem solving - taking ownership and offering practical solutions
Skills:
Collaboration
Customer and Client Focus
Oral Communications
Prioritization
Active Listening
Adaptability
Business Acumen
Client Management
Data Collection and Entry
Shift:
1st shift (United States of America)
Hours Per Week:
40
Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity and affirmative action, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other bases such as medical condition, marital status or any other factor that is irrelevant to the performance of our teammates.
To view the "EEO is the Law" poster, CLICK HERE (https://www.dol.gov/ofccp/regs/compliance/posters/pdf/eeopost.pdf) .
To view the "EEO is the Law" Supplement, CLICK HERE (https://www.dol.gov/ofccp/regs/compliance/posters/pdf/OFCCP_EEO_Supplement_Final_JRF_QA_508c.pdf) .
View the LA County Fair Chance Ordinance (https://dcba.lacounty.gov/wp-content/uploads/2024/08/FCOE-Official-Notice-Eng-Final-8.30.2024.pdf) .
Bank of America aims to create a workplace free from the dangers and resulting consequences of illegal and illicit drug use and alcohol abuse. Our Drug-Free Workplace and Alcohol Policy (-Policy-) establishes requirements to prevent the presence or use of illegal or illicit drugs or unauthorized alcohol on Bank of America premises and to provide a safe work environment.
To view Bank of America's Drug-free Workplace and Alcohol Policy, CLICK HERE .
This communication provides information about certain Bank of America benefits. Receipt of this document does not automatically entitle you to benefits offered by Bank of America. Every effort has been made to ensure the accuracy of this communication. However, if there are discrepancies between this communication and the official plan documents, the plan documents will always govern. Bank of America retains the discretion to interpret the terms or language used in any of its communications according to the provisions contained in the plan documents. Bank of America also reserves the right to amend or terminate any benefit plan in its sole discretion at any time for any reason.
