Team Leader

Job Description:

About Us

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.

Being a Great  Place to Work and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates’ physical, emotional, and financial wellness through affordable, competitive and flexible benefits.

We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce  and positively impact the communities we serve.

Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development.  Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs.

At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

Global Business Services

Global Business Services delivers Technology and Operations capabilities to Lines of Business and Staff Support Functions of Bank of America through a centrally managed, globally integrated delivery model and globally resilient operations.

Global Business Services is recognized for flawless execution, sound risk management, operational resiliency, operational excellence and innovation.

In India, we are present in five locations and operate as BA Continuum India Private Limited (BACI), a non-banking subsidiary of Bank of America Corporation and the operating company for India operations of Global Business Services.

Process Overview

Transaction Reporting Control Group are responsible for ensuring the completeness, accuracy, and timeliness of the Bank’s transaction reporting obligations across multiple global regulatory jurisdictions.  Completeness, accuracy, and timeliness controls are the primary responsibility of 2 core functions within the Transaction Reporting Control Group team.  The Submission Control function is responsible for monitoring and remediating the internal validation failures and the rejects (NACKs) from the regulators, the team must liaise with MO/FO/Tech teams for the root causes of the exceptions. Submission control also monitors the trades which are not getting reported within the compliance time for OTC/ETD/Securities and raise breaches for all timeliness issues that missed the agreed thresholds.  The Enhanced Quality Assurance team perform post process testing to validate the completeness, accuracy, and timeliness of the transaction reports submissions through performing reconciliations and targeted deep dive sample-based QA testing.

Job Description

The current role is for the Enhanced Quality Assurance and below is the description of the role.

• Good understanding of Commodity Futures Trading Commission (CFTC) and Securities and Exchange Commission (SEC) reporting landscape, along with knowledge of other key jurisdictions such as SFTR, EMIR, and HKMA.
• Strong understanding of end-to-end Material Terms Reconciliation process, ensuring timely investigation and resolution of reconciliation breaks across regulatory jurisdictions.
• Strong working knowledge on TriOptima and DTCC platforms, with hands-on experience in break analysis, matching logic and resolution.
• Manage daily BAU activities, monitor exception queues, and drive closure of aged and high-risk material terms breaks.
• Provide oversight and guidance to analysts on break investigation, root cause analysis, and remediation strategies.
• Engage with internal stakeholders, technology teams, and counterparties to resolve data quality and reporting discrepancies.
• Track key performance metrics, prepare MI reports, and provide regular updates to management on reconciliation trends, risks, and remediation progress.
• Drive process improvements, automation opportunities, and control enhancements to improve reconciliation accuracy and operational efficiency.
• Ensure adherence to regulatory reporting requirements and maintain appropriate audit trails and supporting documentation.
• Coordinate issue escalations, prioritize critical breaks, and facilitate timely resolution to minimize regulatory and operational risk.
• Support new regulatory initiatives, system changes, and testing activities impacting the Material Terms Reconciliation process.
• This is a very hands-on role, ideal for someone with drive and willingness to learn and adapt, is proactive and has very good knowledge about the reporting regulation and the reporting system architecture 

Responsibilities

• Ensuring the completeness, accuracy, and timeliness of transaction reporting submissions across multiple regulatory regimes (e.g. CFTC, EMIR, MIFID, SFTR, HKMA etc.)
• Engagement in designing, implementing, and maintaining operation process and controls
• Generate sample from reports and analyze patterns to derive meaningful information
• Management reporting and issue escalation and resolution
• Remaining current on the Regulatory Reporting landscape to ensure the firm’s reporting remains in step with changes in regulatory environment
• Responsible for working closely with GTR and Industry Working Groups (WG)
• Track the progress of the implementation of changes and work closely with various teams in FO/MO/Dev teams and Reporting Dev team
• Document errors as per the guidelines and ensure remediation of the issue. Raise technology requirement JIRAs. Hands-on experience in validating user acceptance test results
• Investigate and identify the root cause for the Transaction Reporting breaks and coordinate with FO/MO/Tech to fix them
• Review controls on regular basis and challenge status quo
• Work with change and initiative team on new changes and provide requirement for controls ahead of going live with new jurisdiction.

Requirements

Education                    : Post-Graduation

        Certifications If any : NA

Experience Range    : 5-8 Years of overall experience

Foundational Skills:

• Solid trade life cycle knowledge; front, middle and back office (FO, MO, BO).
• Familiarity with counter party clearing: LCH (London Clearing House), Chicago Mercantile Exchange, Intercontinental Exchange (ICE), CBOE, OCC highly desirable
• Strong analytical skills and experience working with large data sets in Excel
• Excellent organizational skills to track many concurrent activities
• Strong communication skills, both written and verbal
• Ability to work independently and assess relative priority among competing issues

Desired Skills:

• Exposure to data mining tool will be added advantage. Opportunity to learn and work on industry leading data mining tools like Tableau, Alteryx, Power BI, AI tools
• Ability to critically appraise the existing process and drive process improvement initiatives.
• Adapts to changes and has a proven track record of working as part of a global team.
• Ability to assess and mitigate risks and dependencies.
• Excellent communication and relationship building skills.
• Proactive and self-starter

Work Timings: 12.30pm - 9.30pm IST

Job Location: Hyderabad