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 gain experience, 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*

CFO Data Management India team was set up in 2023 as a part of the CFO Global Delivery strategy to provide offshore delivery to CFO Data Management, part of Enterprise CFO functions, consolidating legacy functions of Finance Data Management and Treasury Data Management. The capabilities hosted include Data Analysis, Product specialists with understanding of underlying Data for Liquidity/ Regulatory Reporting, Reconciliations, Management Reporting & Analysis, Research & Analytics, Financial Transaction Processing and Finance Systems Support

Data Management team enables the Finance Organization and supports data needs of finance business users.

The Data Management team engages in various activities (including, but not limited to):

• Regulatory Reporting related data management Activities: Team support activities related to US and EMEA Regulatory reports, data validation and resolution of Data quality issues.
• Team performs a critical role in providing centralized support for Global Banking and Market products (Treasury, Traded, Loans & Deposits etc.) data validation and analysis for internal and external Liquidity reporting.
• Team is engaged in activities such as validation of data for regulatory reports, data quality issue resolution, data reconciliation with authoritative sources and posting adjustments. Team actively works on strategic initiatives aimed at improving the quality of numbers reported in regulatory reports.
• Data Sourcing and provisioning: This includes defining and implementing data provisioning strategy to source the data from all lines of business into regulatory reports and management reports. Team is actively involved in sourcing initiatives where it works with various source systems, technology teams and report owners to source the data into regulatory reports as per regulator and stakeholder requirements.

Job Description*

Individual will be a contributing member of the Data Incident Management team & will be involved in understanding the underlying issues behind data incidents, collaborating with stakeholders to gather the missing information for the data incidents, bridging the gap between business needs & technical solutioning, involve in data testing for successful closure of data incident within the defined framework. The individual will also drive continuous improvement of incident management processes.

Responsibilities*

Individual will be required to perform following responsibilities (this is an indicative list and could vary depending on business priorities)

Incident Management:

• Manage end-to-end management of data incidents, including data issue assessment, containment, resolution, and post-production review.

• Ensure incidents are properly classified, prioritized, and documented in accordance with established policies and regulatory requirements.

• Collaborate with stakeholders to ascertain the root cause of data incidents & facilitate the documentation of business requirement.

• Engage with upstream data providers and technology teams to develop and test the solution.

• Coordinate incident response efforts, including communication and escalation protocols.

• Perform quality assurance of incidents as per their lifecycle phase.

• Ensure timely resolution of incidents without impacting Service Level Agreements.

• Leverage SQL, Excel, and other analytics tools to identify and understand data issues, quantify impacts, or provide answers to time-sensitive business, audit, and regulator questions

• Continually grow and expand market products and use-case knowledge, with a focus to understand the 'why', to anticipate and proactively address questions and issues before they occur

• Constantly evaluate our processes to ensure data risks are identified and properly mitigated, while seeking opportunities to simplify, automate, and improve wherever/whenever possible

• Ensure robust documentation for the processes

• Support change agenda across group and ensure processes are efficient, consistent, and sustainable, making best use of technology.

• Supporting DM and enterprise Operational Excellence initiatives

• Serve as the primary point of contact for data incident response.

• Provide timely and clear communication to internal stakeholders and leadership.

• Coordinate external communications with regulators, customers, and third parties as needed.

• Facilitate post-incident reviews and share key findings and lessons learned across the organization.

Requirements*

Education• -

Excellent Finance background (Commerce graduate/Finance Postgraduates)

Experience Range*

2-5 years

Foundational skills*

• Strong knowledge of incident management frameworks and methodologies

• Product knowledge of Banking & Securities & basic understanding of regulatory reports for a global bank

• Excellent written and verbal communication skills are necessary as the position requires global correspondence and communication with associates throughout the Bank of America footprint.

• Ability to effectively manage multiple priorities and deliver as well as being able to adapt to change

• Advanced Excel + Basic SQL, Tableau, Alteryx for Data Analysis

• High-level of ownership and attention to detail

Desired skills

• Excellent problem-solving, analytical, and decision-making abilities

• Dynamic, high energy, solid work ethic, willing to take on initiatives.

• Able to excel and influence in a cross-functional team structure.

• Flexibility and good negotiations skills

• Exposure to Emerging technologies like UiPath, etc.

• Driving innovation and transformation in finance

Work Timings*

9 hours shift between 11 AM and 11 PM

Job Location*

Gurugram/Mumbai