Job Description: About Bank of America Merrill Lynch:
Our purpose as a firm is to make financial lives better, through the power of every connection. Across the world, we partner with leading corporate and institutional investors through our offices in more than 40 countries. In the U.S alone, we serve almost all Fortune 500 companies and approximately 59 million consumers and small-business customers. We provide a full suite of financial products and services, from banking and investments to asset and risk management. We cover a broad range of asset classes, making us a global leader in corporate and investment banking, sales and trading.
Connecting Asia Pacific to the World Our Asia Pacific team is spread across 23 offices in 12 markets. We are focused on connecting Asia to the world and the world to Asia, using our global expertise to ensure success is shared between us, our clients and our communities. Our regional footprint covers 12 currencies, more than a dozen languages and five time zones, placing us firmly among the region's leading financial services companies. Bank of America Merrill Lynch (BAML) 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.
Position Description The Central Control Team's primary responsibility is to oversee and manage the effectiveness of reconciliations within the Settlements/Operations Teams. The Team will operate within defined Lines of Business (LOB) Service Level Agreements (SLAs) to ensure reconciliations are performed timely and accurately prior to assigning any residual breaks to their respective owners for further investigation. The remit will include automating wherever possible, existing semi-automated and manual reconciliations. Additionally, perform item matching across a variety of reconciliations and seek to improve their efficiency through the analysis of breaks and auto-match rates.
Account Balance Monitoring - ensure balances are within tolerance (where relevant), validate breaks to sub ledger
Coordinate data collection to assist with End of Month Balance Sheet Substantiation reviews
Actively review and challenge the Process Control Standards (PCS) to ensure best practice
In conjunction with business partners, manage the maintenance of reconciliations (New, amended and decommissioned)
Seek opportunities to improve current processes through reviews, raise business cases/technical specifications to justify and drive change
Involvement in ad hoc projects for new processes
Breaks investigation and resolution.
Provide oversight on daily reconciliations
Prior reconciliation experience
Excellent communications skills and ability to present to an audience.
Ability to work under pressure in a team environment.
Strong analytical skills
Self-motivated and able to work unsupervised. Candidate will be able to manage own time and know when to escalate.
Able to build relationships and work with cross-functional and technology teams
Ability to work effectively with offshore team
Risk management experience and skills highly regarded
Bank of America Merrill Lynch is an equal opportunities employer