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 Accounts Payable, General Accounting & Reconciliations, Management Reporting & Analysis, Research & Analytics, Financial Transaction Processing, Finance Systems Support and Supply Chain Management.
Over the years, the scope of Global Finance has been expanded to include operations for other enterprise control functions like Human Resources and Risk and Compliance.
Job Description
This role involves performing reconciliations of Balance Sheet Accounts of Bank of America adhering to Account Reconciliation Policy (ARP) and Account Reconciliation Standards (ARS) and to complete in timely manner to ensure all process SLAs are met. To Investigate and report out any breaks to business partner to ensure adequate time for investigation. The associate must have a sound understanding of accounting fundamentals and be able to communicate and explain account activity and usage to internal and external audit queries via email and or telephone. The reconciliations should be performed as per the set standards in the Account Reconciliation Policy. Exposure to Six Sigma and other quality improvement tools would be an added advantageResponsibilities
• Ensure that the reconciliations are completed as per procedures, Account Reconciliation Policy (ARP) and Account Reconciliation Standards (ARS).
• Ensure the transaction flow on accounts is understood and recorded in the process procedures.
• Ensure Balance Sheet account reconciliation is reported accurately.
• Ensure that the targets assigned in accordance with the SLAs are met.
• Rigorous follow up with LOB on open items & get the required documentation completed for aged items as per defined timelines.
• Ensure that the quality of the Account Reconciliations is in compliance with predefined parameters.
• Identify potential areas for process improvements, risk reduction, non-compliance & highlight the same to the supervisor.
• Respond to audit queries with completeness and 100% accuracy.
Requirements
Education
B.Com / M.Com / MBA or above.
Certifications If Any
Experience Range
3-5 years of relevant Balance Sheet/GL Reconciliation experience
Foundational skills
• Excellent understanding of accounting concepts
• Good exposure in Balance Sheet/GL Reconciliation domain
• Strong Analytical and Problem solving skills
• Good communication skills
Desired Skills
• Knowledge on Advanced Excel, Macros
• Knowledge of Quality and Six-Sigma tools
Work Timings
17:30 to 02:30 hrs. with weekend off (Timings change during US day-light saving period)
Job Location
Mumbai
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 Accounts Payable, General Accounting & Reconciliations, Management Reporting & Analysis, Research & Analytics, Financial Transaction Processing, Finance Systems Support and Supply Chain Management.
Over the years, the scope of Global Finance has been expanded to include operations for other enterprise control functions like Human Resources and Risk and Compliance.
Job Description
This role involves performing reconciliations of Balance Sheet Accounts of Bank of America adhering to Account Reconciliation Policy (ARP) and Account Reconciliation Standards (ARS) and to complete in timely manner to ensure all process SLAs are met. To Investigate and report out any breaks to business partner to ensure adequate time for investigation. The associate must have a sound understanding of accounting fundamentals and be able to communicate and explain account activity and usage to internal and external audit queries via email and or telephone. The reconciliations should be performed as per the set standards in the Account Reconciliation Policy. Exposure to Six Sigma and other quality improvement tools would be an added advantageResponsibilities
• Ensure that the reconciliations are completed as per procedures, Account Reconciliation Policy (ARP) and Account Reconciliation Standards (ARS).
• Ensure the transaction flow on accounts is understood and recorded in the process procedures.
• Ensure Balance Sheet account reconciliation is reported accurately.
• Ensure that the targets assigned in accordance with the SLAs are met.
• Rigorous follow up with LOB on open items & get the required documentation completed for aged items as per defined timelines.
• Ensure that the quality of the Account Reconciliations is in compliance with predefined parameters.
• Identify potential areas for process improvements, risk reduction, non-compliance & highlight the same to the supervisor.
• Respond to audit queries with completeness and 100% accuracy.
Requirements
Education
B.Com / M.Com / MBA or above.
Certifications If Any
Experience Range
3-5 years of relevant Balance Sheet/GL Reconciliation experience
Foundational skills
• Excellent understanding of accounting concepts
• Good exposure in Balance Sheet/GL Reconciliation domain
• Strong Analytical and Problem solving skills
• Good communication skills
Desired Skills
• Knowledge on Advanced Excel, Macros
• Knowledge of Quality and Six-Sigma tools
Work Timings
17:30 to 02:30 hrs. with weekend off (Timings change during US day-light saving period)
Job Location
Mumbai
💡 Quick Summary
Seeking a career-building opportunity? The Team Leader position is now open for candidates interested in the Bank Jobs sector. This role in Mumbai 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.
