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Fixed Income Operation Trade Control Analyst - XVA

Company: Bank of America
Location: Charlotte
Posted on: November 23, 2019

Job Description:

Job Description:SummaryFDCO (Fixed-Income Core Operation) organization is seeking a qualified individual to support the trade-capture workflow for the XVA Desk within Global CPM (Counterparty Portfolio Management), with a focus on rates and credit derivatives. The XVA Desk is responsible for managing the exposure of the firm to valuation adjustments on its derivative positions due to funding cost, credit risk, and regulatory capital costs.The desired candidate should possess a working understanding of derivatives products. These would include IR Swaps, Swaptions, CDS, CDS Index etc, with focus on rates products. The candidate must have excellent MS Excel skills and must be an excellent written and verbal communicator. The role is fast-paced and often has simultaneous competing priorities and as such, the applicant must be able to properly prioritize their time and be comfortable in a fast-paced work environment. The role requires all trade issues to be monitored, escalated as necessary, and resolved in a timely and efficient manner. As a result, this role is an escalation point for the various Operations Teams, and external clients on transaction related issues. Cross training with team members supporting other products will be required for coverage purposes.Position Description:

  • Work in a fast-paced environment with direct communications with Trading Desk and Sales
  • Monitor workflow in the primary trade capture system, as well as system of record
  • Apply independent judgment and discretion when resolving trade discrepancies to ensure that the correct risk is always reflected in Front-Office Trading system and Back Office Risk Systems
  • Based on product, system and proprietary knowledge, identify and resolve variations in risk in the primary trade capture system, eg. Booking errors leading to fee discrepancies.
  • Primary point of contact for the Front Office, Operations, and Finance on topics relating to trade capture.
  • Understand various idiosyncrasies and conventions of Structured Notes and their related hedges in order to provide SME(Subject-Matter Expert)-level support.
  • Ensure internal risk positions are appropriately reflected to mitigate any risk to the firms capital
  • Ensure initial trade bookings, trade amendments, allocations and novations occur in a timely manner to meet Transaction Reporting requirements
  • Ensure trade bookings are compliant within existing regulatory frameworks such as Volcker CFTR, UMR, etc..
  • Responsible for global connectivity and communication with counterparts across various Line-of-Business to ensure consistency and alignment to target Control Standards within Trade ControlBasic Qualifications:
    • Solid understanding of basic financial concepts such as time value of money, interest rate, mark-to-market, and time series modeling.
    • Excellent Excel reporting-related skills
    • Detail-oriented to operation trade flow, data entry, and data reconciliation
    • Ability to liaise across multiple functional teams to resolve issues
    • Ability to operate autonomously without direct supervision
    • Ability to quickly analyze and make decisions in the event of a problem
    • Ability to quickly grasp new industry practices and create/document new processes
    • Strong organizational skills and ability to effectively prioritize multiple tasksDesired Qualifications :
      • 1 - 3 years of experience in the trade control / fixed income operation space
      • Macro/VBA Knowledge
      • Experience in supporting rates, FX, and credit derivative trading
      • Knowledge of financial processing systems and accounting
      • Understanding of the Best Practices and front-to-back product flow to manage Operational Risk
      • Relevant industry product knowledge
      • Proactive thought leadership to identify and deliver process improvements and efficiencies
      • Knowledge of industry regulatory frameworks such as Volcker Reporting and DTCC Real-Time ReportingPosting Date : 11/14/2019Location :Charlotte, NC, HEARST TOWER, 214 N TRYON ST,
        • United StatesTravel : NoFull / Part-time : Full timeHours Per Week : 40Shift : 1st shiftAssistance for Applicants with DisabilitiesBank of America is committed to ensuring that our online application process provides an equal employment opportunity to all job seekers, including individuals with disabilities. If you believe you need a reasonable accommodation in order to search for a job opening or to submit an application, please visit the Applicants with Disabilities page at http://careers.bankofamerica.com/us/applicants-with-disabilities .Diversity & InclusionAt Bank of America, our commitment to diversity and inclusion is helping us to create not only a great place to work, but also an environment where our employees, our customers and our communities around the world can reach their goals and connect with each other. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status.Frequently Asked QuestionsNeed to know how to apply online, view a list of your submitted job applications or reset your password? Visit our FAQ at http://careers.bankofamerica.com/us/faq section for answers to these questions and more.

Keywords: Bank of America, Gastonia , Fixed Income Operation Trade Control Analyst - XVA, Professions , Charlotte, North Carolina

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