Job Description
Job Description:
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 is core to how we drive Responsible Growth. This includes our commitment to being an inclusive workplace, attracting and developing exceptional talent, supporting our teammates physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.
Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations.
At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!
Job Description:
Singapore Collateral Operations provide collateral management support for Global Markets business to mitigate counterparty credit risk from transactions with our clients and counterparties based in APAC. The team covers range of products including OTC Derivatives, Fixed Income, Exchange Traded Derivatives and Prime Finance. The primary responsibility is to both issue and fulfill margin calls in a timely manner, up to and including settlement using the appropriate checks and controls to ensure the bank is correctly collateralised at all times. It is also the team's responsibility to assist clients with their enquiries while escalating any issues impacting accurate collateralisation to key stakeholders including risk, business and technology.
Responsibilities:
Monitor and ensure margin settlements
Process and settle cash and non-cash collaterals in an accurate and timely manner
Monitor clients and affiliates exposure and process margin calls in a timely manner before settlement cut-off
Liaise with clients and internal business partners to resolve issues
Identify anomalies and ensure complete and timely issue resolution
Perform management reporting
Participate in technology enhancement initiatives, projects and UATs
Maintain strong relationships with clients and internal business partners
Handle audit requests
Requirements:
Strong experience in Exchange Traded Derivatives, Client Service and Collateral Management
Strong communication skills, risk and control mindset and leadership skills
Independent and motivated to excel
Experience in handling complex margin dispute and issue resolution
Other Qualifications:
∙ Strives to bring new thoughts and ideas to teams in order to drive innovation and unique solutions
∙ Excels in working among diverse viewpoints to determine the best path forward
∙ Experience in connecting with a diverse set of clients to understand future business needs - is a continuous learner
∙ Commitment to challenging the status quo and promoting positive change.
∙ Participate in and drive collaborative efforts to advance tools, technology, and ways of working to better serve an evolving client base
∙ Believes in value of diversity so we can reflect, connect and meet the diverse needs of our clients and employees around the world
