Sr Group Operations Manager

Job description

**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. 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! **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\\*** Global Markets Business Finance & Control (BF&C) is a division of Global Banking & Markets (GBAM) Finance responsible for the production and independent validation of Global Markets' profit and loss and balance sheet. In this regard, BF&C will ensure, inter alia, that accounting policies are correctly and consistently applied, and that trading portfolios are appropriately valued. The team prepares and reports P&L and balance sheet to the business and ensures the accuracy and integrity of the general ledger. We are responsible for daily service delivery and ensuring effective controls, transparent management information and becoming a center of excellence delivering process simplification and efficiencies. We are further responsible for running valuation controls to ensure fair value of balance sheet in accordance with internal valuation methodology and regulatory requirements. We work closely with front office, middle office, traders, valuation control and methodology (GVG) teams to drive the control agenda across the business. **Job Description\\*** We are looking to recruit an individual with extensive experience of leading high performing teams that deliver financial control, financial reporting, and valuation control capabilities in Fixed Income products. The position will have regular interaction with a broad range of senior stakeholders, including GBS leadership in India and GBAM Finance leadership in global locations and will be expected to leverage her/his extensive knowledge of processes and best practices within Finance, operations, risk management and talent management to ensure that the GBS team operates effectively as a key strategic component of the global GBAM Finance organization. The individual will work in the P&L Production and Control area leading multiple Fixed Income trading desk Finance. The candidate will work closely with business finance and control leads responsible for delivering P&L production, P&L substantiation and commentaries including overseeing the valuation control deliverables. The candidate is expected to provide a high standard of analysis and explanation around any issues faced and work with FO, Tech, GVG to resolve the same. The candidate will therefore have considerable interaction with the respective Front Office, Middle Office, and Finance and Trade Capture teams so good communication and time management skills are an essential requirement for this job. The Primary products covered will include Global Fixed Income macro & micro asset classes. Outstanding financial control expertise in FICC products, familiarity with global markets businesses, establishing strong culture of employee engagement and first-class leadership skills are prerequisites. **Responsibilities\\*** - Ensure audit readiness and compliance for the function as required by business finance policies, guidelines, and regulatory requirements. - Lead large teams of highly caliber and exceptional performers. Provide guidance to tenured and senior associates in the team. - Supervise Production and Reporting of daily P&L to Front Office & Senior Management. - Oversee business IPV, Valuation control, Valuation adjustments, PRU-VAL results as computed by IPV team. - Supervise Reconciliation of actual P&L with trader estimates and review flash/actual variance analysis. - Work closely with the trading desks on position, P&L or other issues on an ad-hoc basis. - Review Front-to-Back analysis & reconciliations of front office P&L and Balance Sheet to firm sub-ledgers, - Assist with execution of month-end controls ensuring management vs financial P&L variances are within thresholds - Analyze traders’ risk positions and understand and apply the Greeks (Delta, Vega Gamma) vs daily market moves. - Control books, cost center and Business Units for line of business - Liaise with various business partners such as Technology, Market Risk, Credit Risk, Operations and Finance to resolve issues / queries and enable the business and be “Accurate & well controlled” across deliverables. - Develop, standardize & continuous improvement of existing processes & workflow. - Monitor Testing/UAT for existing or new system