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Bank of America

Team Leader

Chennai, IndiaPosted 6 days ago

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Why you should apply for a job to Bank of America:

Ranked as one of the Best Finance Companies in 2018
3.2/5 in overall job satisfaction
3.3/5 in supportive management
56% say women are treated fairly and equally to men
43% would recommend this company to other women
74% say the CEO supports gender diversity

Ratings are based on anonymous reviews by Fairygodboss members. See all reviews ›

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. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.

Being a Great Place to Work and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates' physical, emotional, and financial wellness through affordable, competitive and flexible benefits.
We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve.

Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs.
At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. 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.

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

Bank of America Merrill Lynch's Global Banking and Markets (henceforth referred to as GBAM) franchise is a global powerhouse providing institutional clients worldwide with access to our leading sales and trading and research franchises, investment banking services and product innovation. Through our platform, we serve institutional, corporate and commercial clients in the U.S. and internationally, with a broad range of products and services.

Global Banking Operations teams are responsible for operations of commercial, corporate, investment banking and government clients, as well as small business and business banking clients. These teams deliver end-to-end services and operations. Global Markets Operations supports institutional and commercial clients and the Bank's regional technology and operations teams.

The GBAM Ops Tax & Control team performs various tax related processes across GBAM Operations. GBAM Operations Tax & Control ensures compliance with federal, state and local tax regulations in the U.S. and in numerous jurisdictions across the globe. The functions performed are key to ensuring adherence to tax regulatory requirements, both for the Bank and our clients, mitigating financial risks, and maintaining client satisfaction.

Team supports Collect Tax Documentation, Withhold/Remit Process, Affiliate Tax Form Requests and Legal Entity Classification.

Job Description

The individual will be a contributing member of the GBAM Ops Tax & Control team, responsible for delivery of high quality results on various mandates that the team is working in partnership with various teams within Operations, Technology and Finance.

Responsibilities

Perform Tax Operations related tasks assigned as part of BAU delivery
Work closely with SMEs for knowledge transfer, process documentation and defining and building of controls to ensure smooth BAU delivery
Support ad-hoc requirements of testing and validation arising out of system conversions
Create and publish MIS reports to stakeholders on the exceptions and highlight the risk. Evaluate the reports from time to time, identify opportunities to improvise and drive changes
Proactively communicate and ensure visibility to leadership on the upcoming technology changes/enhancements, Deployment Plan, Impact Assessment based on the scope - Process/procedures, Associate, Systems etc. & lessons learnt
Act as project coordinator for various OpEx initiatives underway. Work with various teams to drive the agenda and report progress in a routine manner

Requirements

Knowledge about the Global Financial Markets and different financial products spread across the asset classes namely FX, Interest Rate, Equity, Commodity, Credit
Eye for detail and must be procedure focused to adhere to the Policy guidelines
Ability to quickly understand and drive Front-to-Back Workflow, articulate, understand full product / transaction life-cycle and execute assigned tasks
The incumbent needs to be exceptionally good with numbers and should be well versed with the excel operations
Effective communication skills: Incumbent is expected to engage with different senior stakeholders to discuss the under lying root cause of the issue.
Excellent organizational skills to track multiple concurrent activities and keep leads updated on progress
Excellent Stake holder management (internal & external) across regions / functions / lines of business
Should be a keen learner and should be an initiative-taker

Education

Qualification - Graduate in finance/related field.

Experience Range

Experience - 0-4 years of experience in Operations delivery

Foundational Skills*

Experience in US / International Tax Operations
Tax form solicitation, prior experience in Tax Documentation. (W8/W9/FATCA/CRS Forms)
Review change in reference data with potential Tax documentation impact.
Validation of tax documentation, reviewed against regulatory requirements for validity
Withholding and Remittance - Calculating payments or applying withholding tax as applicable.
Tax reporting (1099 and 1042 S) - Reporting account holder and payment information to required regulators and/or clients.
Eye for detail and must be procedure focused to adhere to the Policy guidelines
Ability to understand and drive Front-to-Back Workflow, articulate and understand full product / transaction life cycle
Excellent Stake holder management (internal & external) across regions / functions / lines of business
Excellent verbal and written communication/presentation skills

Desired Skills*

Project management skills

Work Timings

Flexible to work in Shifts

Job Location Chennai

About Bank of America

Bank of America provides people, companies, and institutional investors with industry-leading financial products and services.

Size: 10,000+ employees
Industry: Finance: Diversified

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