Team Leader Job at Bank of America Hyderabad | Reconciliations

About Us

Bank of America is guided by a common purpose to help make financial lives better through the power of every connection. Responsible Growth guides how we run the company and how we serve our clients, teammates, communities and shareholders.

We aim to be a diverse and inclusive workplace and offer competitive benefits that support our teammates' physical, emotional and financial well-being. We also offer flexibility, with an approach that varies by role.

Global Business Services

Global Business Services delivers Technology and Operations capabilities to Lines of Business and Staff Support Functions through a centrally managed, globally integrated delivery model. In India, this work is run by BA Continuum India Private Limited (BACI), a non-banking subsidiary of Bank of America Corporation.

Process Overview

Global Finance was set up in 2007 as part of the CFO Global Delivery strategy to provide offshore delivery to Line of Business and Enterprise Finance functions. Its capabilities include Accounts Payable, General Accounting and Reconciliations, Management Reporting and Analysis, Research and Analytics, Financial Transaction Processing, Finance Systems Support and Supply Chain Management. Its scope has since grown to cover enterprise control functions such as Human Resources and Risk and Compliance.

Job Description

This role is a subject matter expert (SME) in the reconciliations domain. You will prepare and review reconciliations of Bank of America's Balance Sheet Accounts in line with the Account Reconciliation Policy (ARP) and Account Reconciliation Standards (ARS), completing them on time so that all process SLAs are met. You will also investigate breaks and report them to business partners with enough time for investigation. You must have a sound understanding of accounting fundamentals and be able to explain account activity and usage in response to internal and external audit queries by email or phone. Exposure to Six Sigma and other quality or emerging technology improvement tools is an added advantage.

Responsibilities

• Ensure reconciliations are performed according to procedures and standard policies.
• Ensure the balance sheet account transaction flow is understood and recorded in process procedures.
• Meet the targets assigned under the SLAs.
• Follow up closely with LOBs on open items and obtain required documentation for aged items within defined timelines.
• Maintain reconciliation quality against predefined parameters.
• Develop a strong understanding of different balance sheet reconciliations.
• Identify opportunities for process improvement, risk reduction and non-compliance, and highlight them to the supervisor.
• Provide relevant process reports on a daily basis.

Work Timings

02:30 PM to 11:30 PM IST, with weekends off.