Job Description
Job Description:
Overview (Bank overview, GBS India overview, Function Overview)
Bank of America is one of the world’s leading 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.
We are committed to attracting and retaining top talent across the globe to ensure our continued success. Along with taking care of our customers, we want to be the best place for people to work and aim at creating a work environment where all employees have the opportunity to achieve their goals.
We are a part of the Global Business Services which delivers technology and operations capabilities to all Bank of America lines of business (LOB) and enterprise functions.
Our employees help our customers and clients at every stage of their financial lives, helping them connect to what matters most. This purpose defines and unites us. Every day, we are focused on delivering value, convenience, expertise and innovation for individuals, businesses and institutional investors we serve worldwide.
• BA Continuum is a nonbank subsidiary of Bank of America, part of Global Business Services in the bank.
Process Overview
The GLOBAL FINANCE was set up in 2007 as a part of the CFO Global Delivery strategy to provide offshore delivery to Line of Business and Enterprise Finance functions. The capabilities hosted include General Accounting & Reconciliations, Management Reporting & Analysis, Research & Analytics, Financial Transaction Processing, Finance Systems Support, Entity Controllership & Regulatory reporting.
Over the years, the scope of GLOBAL FINANCE has been expanded to include operations for other enterprise control functions like Risk and Compliance & SOX Controls.
Bank of America has recently implemented Oracle cloud as it is General Ledger for APAC, EMEA and few countries in Americas. Bank of America uses two GLs i.e. SAP GL as book of records and Oracle as Source-system for SAP GL.
In Finance Application Production Services (FAPS), we are using some other finance applications like Bank Analyzer, SAP BPC, Finance provisioning point (FPP) for fulfilling the data needs of downstream applications, CFARRI (Regulatory reporting database) and AXIOM for Regulatory report submissions.
FAPS ensures all financial accounting and financial reporting systems and applications are operating smoothly from a functional perspective.
Job Description
This position is responsible for managing systems to systems and other data validation.
Oracle Vs SAP dual post GL reconciliations , SAP is our Book of records and data is initially posted into Oracle for EMEA/APAC, LATAM and part of Americas and this further travels to SAP as per the business logic. Person on this position is expected to reconcile this data movement and escalate exceptions to relevant stakeholders. He /She will be responsible for getting the adequate resolution for these exceptions with the help of relevant people in business i.e. controllers etc.
This team is also responsible for performing data validation for data travelling among various finance applications
Responsibilities
• Associate would be required to understand the functionalities of different tools/applications for downloading the inputs for their reports like, SAP, Oracle and other finance applications
• Should have exposure to GL in terms of Reconciliation along with Local and US GAAP
• GL Audit / Risk / Control background will be required to streamline the project deliverables/SOX Controls
• Work closely with the IT teams and development team to address issues having GL impact
• Establish strong working relationships with business partners
• Work on best practices and process excellence methodology within the teams
• Assist with project documentation, SOP creation. Outbound testing/recons (BW to Essbase, Source systems)
• Continually identify process improvement opportunities. Ensure accuracy and timeliness of reporting as per calendar.
• Actively to be involved in the Project\BAU process and provide ongoing support.
• Work on process and procedure gaps with LOB to closure.
• Prepare and provide updates to stakeholders and management groups.
• Comfortable to work in morning/afternoon shift (anywhere between 7 am till midnight)
Overview (Bank overview, GBS India overview, Function Overview)
Bank of America is one of the world’s leading 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.
We are committed to attracting and retaining top talent across the globe to ensure our continued success. Along with taking care of our customers, we want to be the best place for people to work and aim at creating a work environment where all employees have the opportunity to achieve their goals.
We are a part of the Global Business Services which delivers technology and operations capabilities to all Bank of America lines of business (LOB) and enterprise functions.
Our employees help our customers and clients at every stage of their financial lives, helping them connect to what matters most. This purpose defines and unites us. Every day, we are focused on delivering value, convenience, expertise and innovation for individuals, businesses and institutional investors we serve worldwide.
• BA Continuum is a nonbank subsidiary of Bank of America, part of Global Business Services in the bank.
Process Overview
The GLOBAL FINANCE was set up in 2007 as a part of the CFO Global Delivery strategy to provide offshore delivery to Line of Business and Enterprise Finance functions. The capabilities hosted include General Accounting & Reconciliations, Management Reporting & Analysis, Research & Analytics, Financial Transaction Processing, Finance Systems Support, Entity Controllership & Regulatory reporting.
Over the years, the scope of GLOBAL FINANCE has been expanded to include operations for other enterprise control functions like Risk and Compliance & SOX Controls.
Bank of America has recently implemented Oracle cloud as it is General Ledger for APAC, EMEA and few countries in Americas. Bank of America uses two GLs i.e. SAP GL as book of records and Oracle as Source-system for SAP GL.
In Finance Application Production Services (FAPS), we are using some other finance applications like Bank Analyzer, SAP BPC, Finance provisioning point (FPP) for fulfilling the data needs of downstream applications, CFARRI (Regulatory reporting database) and AXIOM for Regulatory report submissions.
FAPS ensures all financial accounting and financial reporting systems and applications are operating smoothly from a functional perspective.
Job Description
This position is responsible for managing systems to systems and other data validation.
Oracle Vs SAP dual post GL reconciliations , SAP is our Book of records and data is initially posted into Oracle for EMEA/APAC, LATAM and part of Americas and this further travels to SAP as per the business logic. Person on this position is expected to reconcile this data movement and escalate exceptions to relevant stakeholders. He /She will be responsible for getting the adequate resolution for these exceptions with the help of relevant people in business i.e. controllers etc.
This team is also responsible for performing data validation for data travelling among various finance applications
Responsibilities
• Associate would be required to understand the functionalities of different tools/applications for downloading the inputs for their reports like, SAP, Oracle and other finance applications
• Should have exposure to GL in terms of Reconciliation along with Local and US GAAP
• GL Audit / Risk / Control background will be required to streamline the project deliverables/SOX Controls
• Work closely with the IT teams and development team to address issues having GL impact
• Establish strong working relationships with business partners
• Work on best practices and process excellence methodology within the teams
• Assist with project documentation, SOP creation. Outbound testing/recons (BW to Essbase, Source systems)
• Continually identify process improvement opportunities. Ensure accuracy and timeliness of reporting as per calendar.
• Actively to be involved in the Project\BAU process and provide ongoing support.
• Work on process and procedure gaps with LOB to closure.
• Prepare and provide updates to stakeholders and management groups.
• Comfortable to work in morning/afternoon shift (anywhere between 7 am till midnight)
💡 Quick Summary
Seeking a career-building opportunity? The Senior Manager position is now open for candidates interested in the Bank Jobs sector. This role in Gurgaon offers a professional environment and growth potential.
Requirement Snapshot: Candidates should possess basic communication skills, a proactive attitude, and the ability to work in a team. Experience in Bank Jobs is a plus.