Company :Bank of America
Website : www.bankofamerica.com
Job Role : Team Member
Eligibility : BCom/MBA
Experience : 2 - 3 Years
Job Location : Gurgaon
Company Profile:
We’re committed to making the connections that make our communities better. In 2012, we extended $19.1 billion in total credit to small businesses, customers, local communities and nonprofits. We provided $22 million in grants to fund critical needs, and another $22 million for housing. And we announced a new 10-year, $50 billion goal to help improve the environment. We’ll continue to support businesses and strengthen communities.
Responsibilities:
• Work on daily collateral margin process. Send margin calls to clients as derived through system calculations taking net exposure in consideration between BAML and counterparty.
• Making cash, securities bookings in the system for collateral movement.
• Verification of cash flows to authorize settlements/funds transfer.
• Review incoming margin calls from counterparties, validate calculations in our internal system and agree for collateral movement.
• Settlement of monthly interest with clients on cash collateral pledged/held.
• Resolve cash and securities breaks/exceptions arising from collateral bookings.
• Follow up with clients for any cash fails or failed collateral transfers.
• Working closely together with Static data team, Client onboarding team, Documentation group etc and clients to ensure accurate information is updated within our processing database.
Required Skills:
• 2 to 3 years of work experience in OTC Derivative/ Collateral.
• B. Com / MBA (Finance).
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