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.
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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 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.
Accurately reconcile various General Ledger, Cash, Position & NOSTRO accounts on a daily/weekly/monthly basis in accordance with established procedures and time frames, utilizing the Reconciliation system to balance the accounts. Research and assist operating areas with resolving all open items, escalating any aged items to the concerned business unit. Participate in weekly and monthly reporting that is sent to Regulatory Reporting.
The associate will perform the following functions:
GL, Cash, Position and NOSTRO reconciliations
Exception identification & reporting
Weekly/Monthly reports
preparation of daily/weekly/monthly reconciliations
balancing
reporting
balance sheet netting calculations
regulatory report compilations
trading inventory maintenance
balance sheet substantiation
research, root cause analysis and resolution of exceptions
Adherence to the SLA’s – productivity, turnaround time, and accuracy
Engage in improving processes through reengineering, system checks, process automation
Performing Quality Check
Act as a change agent and provide implementation assistance as and when the need arises
Provide subject matter expertise on processes
Update Manager on process performance and critical people issues
Identify potential people issues amongst the team & resolve the same on a proactive basis
Assist new hires such that they are productive on the floor in the shortest possible time frame
Assess training needs, provide training opportunities and train new hires and existing staff
Cross train Team Members
Proven Experience on GL/Cash/Position & Nostro reconciliations
Should have been performing Reconciliation preparer, reviewer responsibilities for all types of reconciliations.
End to End knowledge of Reconciliation procedures and Bank Reconciliation standards
Understanding of regulatory requirements governing the reconciliations performed
Knowledge of financial and capital markets (Fixed Income/Options/equity)
Knowledge of General Accounting activities & principles (journal entries, debits/credits, colour of entries and treatment in books etc.)
Ability to liaise with key business partners
Excellent oral & written communication skills
Highly motivated individual with a diverse background in financial analysis
Working knowledge in MS Office products including MS Excel, a must
Attention to details and drive for accuracy
Ability to work well under pressure
Excellent problem solving & analytical skills
Minimum Accounting Graduation
Certifications If any : NA
Experience Range 5 to 8 years
Recon / Settlement background
Proven Experience on GL/Cash/Position & Nostro reconciliations
Should have been performing Reconciliation preparer, reviewer responsibilities for all types of reconciliations
End to End knowledge of Reconciliation procedures and Bank Reconciliation standards
Understanding of regulatory requirements governing the reconciliations performed
Knowledge of financial and capital markets (Fixed Income/Options/equity)
Knowledge of General Accounting activities & principles (journal entries, debits/credits, colour of entries and treatment in books etc.)
Ability to liaise with key business partners
Excellent oral & written communication skills
Highly motivated individual with a diverse background in financial analysis
Working knowledge in MS Office products including MS Excel, a must
Attention to details and drive for accuracy
Ability to work well under pressure
Excellent problem solving & analytical skills
Work Timings: 12:30- 21:30 IST
Job Location: Gift
Bank of America is one of the world's largest financial institutions, serving individuals, 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 serves approximately 56 million U.S. consumer and small business relationships. It is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading.
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