Assistant Vice President
Bank of America
Assistant Vice President
Bank of America
Runs a US consumer bank, brokerage and investment bank
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 and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates’ physical, emotional, and financial wellness through affordable, competitive and flexible benefits.
We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve.
Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs.
At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!
Job Description:
The role serves as the desk head for Corporate FX & Client Servicing. The desk head, leading the Corporate FX desk, is responsible for maintaining a strong control environment and disciplined approach to risk management, while ensuring adherence to regulatory compliance and reporting, including NFRR. The Corporate FX desk performs key activities including trade validation, exchange of confirmations, monitoring of underlying exposure documents, FX trades settlement, and acts as the RP for multiple regulatory submissions. The role requires ongoing interaction with both external clients and internal stakeholders.
Responsibilities:
1. Leads & manages Corporate FX & Client Servicing desk
2. Ensures that all tasks align with regulatory and organizational control standards
3. Responds to RBI, Client, Front office, and Auditor Queries in adherence to RBI regulations
4. Monitors all tasks performed at the desk, ensuring proper controls and compliance with rules, laws and regulations
5. Supports team members' professional growth through coaching, training, and constructive feedback
6. Establishs and maintains strong relationships with front office teams, external and internal auditors, technology departments, and other key stakeholders
7. Contributes to various process improvement initiatives and projects
8. Ensures current processes are in line with the desktop procedures
9. Performs walkthrough with auditors
10. Supports the logic building for automation of processes
Requirements:
- Experience of more than 6 years in managing a team and relevant exposure in Treasury Operations relating to Corporate FX products
- Well versed with various products offered in the market, RBI, FEDAI, and related rules and regulations governing FX operations and accounting principles
- Ability to manage a team, manage projects and introduction of new initiatives, and demonstrate expertise in coordination across multiple functions and products
- Strong verbal and written communication and articulations skills
- Approachable and highly versatile attitude
- Demonstrate strong leadership skills and decision-making ability
- Strong problem solving skills to effectively manage desk operations and drive team success
- Innovative and solution-driven with strong analytical thinking
- Collaborative with cross-functional teams.
- Proficient in Microsoft applications (MS Excel, MS PowerPoint, MS Word, MS Outlook)
- Proficient in making informed and timely decisions to address challenges and drive success
- Skilled in efficiently managing time to handle multiple tasks and meet deadlines without compromising accuracy and quality
- Skilled in identifying inefficiencies and implementing strategies to accelerate workflows and improve productivity
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
Runs a US consumer bank, brokerage and investment bank
Bank of America runs one of the largest US banks, serving consumers, small businesses, wealthy families, corporations and institutional investors. Alongside checking accounts, credit cards, mortgages and business loans, it owns the Merrill brokerage, a private bank for wealthy clients and a global investment bank that advises on deals and trades stocks and bonds. Customers reach it through thousands of branches and ATMs and its mobile banking app. It earns money mainly from the gap between what it charges on loans and pays on deposits, plus fees from advice, asset management, deal work and trading. It grew from a San Francisco bank founded in 1904 and is headquartered in Charlotte, North Carolina.
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