Trade Assistant

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!
 

Trade Assistant Job Description:

The Fixed Income, Currency and Commodities (FICC) & Derivative Core Operations (FDCO) team perform end to end trade control, confirmation and settlements processes across FICC businesses and provides utility OTC derivative confirmation and settlement services for non FICC businesses. Within FDCO, the teams provide multiple services such as FICC trade control, electronic matching and settlement, Over the Counter (OTC) derivative confirmation and settlement, and commodities operations.

Trading Assistant and Control for the US Rates Options Desk concentrating in vanilla interest rate products and Exotics products. Supports sales and/or trading desks. Responsible for trade capture and resolving trade discrepancies. Liaises between trading, trade support, sales, counterparties, counterparty credit, operations, and compliance. Participates in the introduction and UAT of new initiatives, systems, and process improvements to increase efficiency and enhance controls. Handles ad hoc requests from clients and the desk. 

The associate will liaise extensively with business partners ranging from Sales/Trading, Compliance, Operations, Supervision, P&L Control, Finance and Market Risk who are located across NY, Charlotte, Chester, U.K. and India.

Key Responsibilities:

• Support trade validation and capture, position control and risk validation, process client allocations and amendments, monitor trade clearing status and focus on meeting real time reporting requirements.
• Thoroughly analyze and process End of Day (EOD) New Business Reconciliation and tie out between the bank’s system of record and trading desk blotter.
• Work with the business on assessing the effectiveness of the support infrastructure and suggest process improvements and automation ideas.
• Manage ongoing trade maintenance while contributing to the implementation of improvements to the system infrastructure and control environment
• Focus on minimizing operational risk associated with providing support services to the business – this includes working closely with Operations Risk & Control partners on maintaining a sustainable operational-event-free environment.
• Analyze data and build reporting in order to highlight opportunities for enhancing/improving existing processes and the infrastructure/systems that support trading activity.

Requirements:

Must have these skills to be minimally qualified:

• 3+ years of applicable Trading Assistant & Control experience in derivatives, specifically USD IRS Swaps, at an investment firm or bank.
• Requires product knowledge of financial instruments relevant to the area supported and across related asset classes.
• Understanding in swaps, futures, and treasury products and their respective trading/hedging strategies and life-cycle events.
• Have thorough understanding of Trade Capture, P&L, curve construction and risk.
• Team player and multi-tasker.
• Ability to work with the Front Office and support partners to address and resolve issues.
• Continuously maintain a control function mindset. 
• Extremely motivated and goal seeking with ability to work in fast pace/pressure environment.
• Strong problem-solving ability with willingness to grow his/her skills dynamically. Takes initiative.
• Excellent verbal and written communication/presentation skills.  Demonstrates effective time management and prioritization skills.
• Expert PC skills with high proficiency using Excel.
• Minimum of Bachelor of Science Degree in either of Finance, Mathematics, Accounting or Economics or equivalent work experience.

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Pay Transparency details

US - NY - New York - ONE BRYANT PARK - BANK OF AMERICA TOWER (NY1100)Pay and benefits informationPay range$104,700.00 - $141,800.00 annualized salary, offers to be determined based on experience, education and skill set.Discretionary incentive eligibleThis role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.BenefitsThis role is currently benefits eligible. We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.