Description

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*

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 is that of a SME in the Recons domain . The role involves preparation and review of 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 advantage.

Responsibilities*

• Ensure that the reconciliations are performed as per procedures/ standard policies.
• Ensure the balance sheet account transaction flow on accounts is understood and recorded in the process procedures.
• 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 quality of the Reconciliation is followed as per predefined parameters.
• Should have an excellent understanding of different balance sheet account reconciliations.
• Identify potential areas for process improvements, risk reduction, non-compliance & highlight the same to the supervisor.
• Provide relevant process reports on daily basis.

Requirements*

Education*

B.Com / M.Com with MBA (Finance)

Certifications If Any NA

Experience Range*

0-3 years of Balance sheet reconciliation experience

Foundational skills*

• Excellent understanding of accounting concepts
• Good exposure to Balance sheet reconciliation domain and tools
• Strong Analytical and Problem-solving skills
• Good communication skills
• Effective communication and leadership abilities

Desired skills

• MS Excel

Work Timings*

02:30 PM to 11:30 PM IST, with weekend off

Job Location*

Hyderabad