Assistant Manager

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 learn, 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

Loan Servicing Operations supports existing Commercial Lending products and services (Syndicated & Bilateral Loans). These services include updating customer and loan information, responding to client and business partner enquiries, managing financial and non-financial transactions, generating bills and invoices, and providing customer support and general maintenance through the life of the loan.

Job Description

Dedicated Servicing Team (Agented/Part-bought) supports Syndicated Loans servicing both 'As 'Agent' and in 'Part-bought' lender capacity, mainly for US region relationships. Servicer-1 works on various financial transactions and non-financial service requests received from Clients/Agent banks. Loan IQ is the System of Record to process all such transactions.

Responsibilities

Comprehending notices/incoming requests from Client/Agent Bank/Lenders and verifying/updating details in workflow tool
Timely and accurate assignment of requests from workflow tool to processors
Validating payment instructions/ notices and releasing advances/wires/notices to clients, lenders & Agent Banks on Loan IQ
Actioning on periodic rate changes, rollovers, advances, payments, conversions on Loan IQ and Fronted Letter of Credit for Large Corporates
Updating system of record while adhering to standard operating procedure and guidelines
Managing manual matching and timely monitoring of wire matching automation, its reporting and working on manual matching
Understanding of General Ledger postings and past dues
Timely action, resolution and reconciliation of financial breaks/past dues and following escalation matrix as & when needed.
Effective communication and coordination with fellow team members, managers, and other stakeholders (agent banks/lenders).
Timely action on preparation and distribution of Delayed Investor Funding Report to stakeholders.
Taking ownership of assigned portfolios/service requests/transactions and ensuring service request completions within turnaround time.
Adherence to the Business Deliverables, SLA (Service Level Agreement) and Accuracy.
Requirements

Education

B Com, M Com, MBA (graduation in finance stream)
Certifications - If Any

Experience Range

7+ Years of relevant experience
Foundational Skills

Overview & Navigation of Loan IQ
Advanced
Overview & Navigation of iCon/GSS
Advanced
Overview & Navigation of Clearpar
Advanced
Banking & Markets Knowledge - Closing & Settlements, Loan Trade Servicing & Assignments, Primary & Secondary Markets
Proficient
Reconciliation - Understanding on GLs, Past dues etc.
Proficient
Commercial & Business Banking Lending - Basic Overview, Credit Product Knowledge, Loans Life Cycle & Credit documents
Proficient
Loan Servicing (Bilateral and Syndication) - Overview, types of Facilities, roles of different parties, Advances, Payments, Pricing Change, Renewals/Rollovers, Conversions, Fees, LCs, and Loan Maintenance
Proficient
Attention to Detail
Expert
Communication Skill - Verbal/Written
Advanced
Flexible and Open-Minded
Proficient
Customer Focus
Proficient
Stakeholder Management & Network/Relationship Building
Proficient
Critical Thinking
Proficient
MS Office (Excel, Word, PowerPoint)
Proficient
Desired Skills

Functional knowledge of AI/ML tools
Proficient
Operational Risk - Inadequate or failed internal processes, people, and systems or from external events
Proficient
Global Payment Product/Ops knowledge - Wire Transfer, Direct Debit, ACH, Swift etc.
Proficient
Active Listening
Proficient
Team Building
Proficient
Numerical Ability
Proficient
Overview & Navigation of WorkFusion
Proficient
Data Management & Dashboard Tools - Tableau, Alteryx, SharePoint etc.
Proficient
Work Timings

6.30 PM IST - 03.30 AM IST (US Region)
7.30 PM IST – 4.30 PM IST (US Region)