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Manager
Chennai, India
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*
Global Investigations process deals with handling of payment related queries received from banks, internal BOA departments, customers, nostro outstanding & returned payments. All queries require detailed analysis & resolution as per standard timelines. The team handles Investigations for all currencies arising for Asia, EMEA & US regions.
Investigating and identify root cause for an enquiry
Contact external banks through SWIFT correspondence messages
Pass payments adjustments entries on client accounts, internal accounts & nostro accounts
Review nostro accounts & ensure all outstanding debits & credits are cleared as per timelines
Follow up with external banks for details, confirmation and recall of funds
Verify Correspondence & Payment adjustments as per currency cut-off
Manage workflow of the team
Job Description*
Responsibilities*
Interact with all levels of management and represent Regional Investigations during meetings, etc
Take care of monthly Management routines, dashboards calls with LOB, co-ordinate with LOB on coverage plans
The production environment requires the Supervisor to be flexible, take initiative, work well under pressure, and adapt to rapid changes.
Willingness to work in late shifts and in rotational shifts
Must be able to effectively communicate with technical and business teams.
Must have ability to work well under pressure and with minimal supervision
Should have strong decision-making, critical thinking, and oral and written communication skills.
Adherence to the SLA’s – productivity, turn-around-time, and accuracy
Review daily key operational actionables and various process controls
Develop back up and contingency plans
Manage : Risk, Compliance and other process level documentation
Provide subject matter expertise on process
Provide process problem resolution assistance to teams via calendarized one on one’s and coaching sessions
Responsible for shift planning, staff supervision, monitoring daily work routine of the associates, handle escalations
Escalate any process related ambiguities to Manager/LOB for further clarification.
Monitoring of mail box and act accordingly without delay. Distribute work among the team on priority basis
Perform end of day (EOD) checks
Support the team manager in capturing performance related data and report MIS on a timely basis
Have innovative approach to work and continuously identify and implement process improvements
Seek opportunities to improve process by initiating best practices
Identify risk areas in the process and implement mitigation plans
To process investigations / enquiries of Incoming / Outgoing / returned payments in a timely manner, adhering to laid down procedures and ensure that the established service standards are met.
Investigate cases on a regular basis.
Requirements*
Education*
Graduation / Post Graduation - Preferably Commerce (B.Com) or MBA (Finance).
Certifications - NA
Experience Range*
Foundational Skills*
Good Communication Skills, both verbal and written
Prior work experience in Global Investigation with In depth understanding of SWIFT payments & message types
In depth Knowledge of Payments, ISO, Investigations process & Detailed Knowledge of nostro accounts
Be thorough with Payment Concepts. i.e., MT 103/202/202COV and Swift standards and ISO XML
Real time People Manager experience with complete team Handling exposure
Desired Skills *
Should have worked on PEGA Platform
Ability to multitask, prioritizing urgent items & meet stringent cut-offs
Organized and methodical
Customer focused
Ready to stretch when required
Willingness and able to own tasks to completion
Flexible and adaptable to changing demands and shift timings
Ability to meet deadlines and achieve agreed targets
Compliance centric
Excellent MS Office Skills
Six Sigma Knowledge
Work Timings: EMEA / US (Flexible to Night Shifts)
Job Location: Chennai
Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity and affirmative action, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other bases such as medical condition, marital status or any other factor that is irrelevant to the performance of our teammates.
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View the LA County Fair Chance Ordinance (https://dcba.lacounty.gov/wp-content/uploads/2024/08/FCOE-Official-Notice-Eng-Final-8.30.2024.pdf) .
Bank of America aims to create a workplace free from the dangers and resulting consequences of illegal and illicit drug use and alcohol abuse. Our Drug-Free Workplace and Alcohol Policy (“Policy”) establishes requirements to prevent the presence or use of illegal or illicit drugs or unauthorized alcohol on Bank of America premises and to provide a safe work environment.
To view Bank of America’s Drug-free Workplace and Alcohol Policy, CLICK HERE .
Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations. Should you be offered a role with Bank of America, your hiring manager will provide you with information on the in-office expectations associated with your role. These expectations are subject to change at any time and at the sole discretion of the Company. To the extent you have a disability or sincerely held religious belief for which you believe you need a reasonable accommodation from this requirement, you must seek an accommodation through the Bank’s required accommodation request process before your first day of work.
This communication provides information about certain Bank of America benefits. Receipt of this document does not automatically entitle you to benefits offered by Bank of America. Every effort has been made to ensure the accuracy of this communication. However, if there are discrepancies between this communication and the official plan documents, the plan documents will always govern. Bank of America retains the discretion to interpret the terms or language used in any of its communications according to the provisions contained in the plan documents. Bank of America also reserves the right to amend or terminate any benefit plan in its sole discretion at any time for any reason.