Job Description: Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. Bank of America Merrill Lynch is the marketing name for its international businesses and is a long-established participant in Asia Pacific with a presence since 1947. With 23 offices in 12 geographies, covering nine currencies, more than a dozen languages and five time zones, the company offers an integrated and comprehensive set of products and services across Global Corporate & Investment Banking, Global Markets and Wealth Management, serving the needs of individual, corporate, institutional and government clients, combining the best of local knowledge and global expertise.
Bank of America Merrill Lynch is committed to attracting, recruiting and retaining top diverse talent from across the globe. Our diversity and inclusion mission is to actively promote an inclusive work environment where all employees have the opportunity to achieve personal success and contribute to the growth of our business. Each of our global Employee Networks bring together employees, create dialogue and awareness in support of our Diversity and Inclusion mission
Job Description Provide collateral management support for APAC clients. Products covered include Over the Counter (OTC) Derivatives, Futures and Repo Margining. The main function of the Collateral Operations group is to mitigate counterparty risk base on Credit Support Annex (CSA) established with client for OTC Derivatives or on bi-lateral fixed income repo trades governed by relevant agreements. The candidate will be expected to perform various margin functions for security transactions. Candidate will be heavily involved in maintaining accurate customer and security information on outstanding financing trades, making margin calls to customers by stated deadlines, entering margin trades, repricing existing trades, and monitoring their settlement. The candidate will track, report and resolve trade/price discrepancies between our customers/trading/sales desks. The process is very time sensitive and requires an extreme attention to detail.
Main Duties/ Responsibilities:
Monitor clients' exposure and process margin calls on a timely manner according to the CSA, and similar agreements.
Liaise with clients and internal business partners, including front office, credit risk, legal and technology etc, to resolve call disputes.
Book and settle cash and securities collaterals in accurate and timely manner.
Exchanges/Inter-companies margin settlements for futures contracts
Processing of collateral audit requests
Participate in technology enhancement initiatives, projects and UATs where applicable.
Prior experience on collateral management/futures margining/repo margining will be an advantage.
Knowledge of Futures Markets and different collateral agreement types will be an advantage
Fast learner, proactive in nature and has excellent attention to details and can perform multi-tasks
Able to communicate effectively.
Independent and motivated, team player, ability to deal with wide scope of demands under pressure.
Must be able to work early hours (7am, on a rotational basis)
Bank of America Merrill Lynch is an equal opportunities employer