Global Markets Operations Summer Analyst

What we're looking for:

• Penultimate year Undergraduate/Master's student with outstanding academic achievement
• Strong quantitative and analytical skills
• Effective verbal and written communication skills
• Being comfortable with change and adjust quickly to changing demands and requirements
• Strong team player and client-focused
• Demonstrate positive energy and drive
• Ability to demonstrate initiative and creative thinking

Why Us?

Global Markets Operations (GMO) delivers the end-to-end support for Global Markets sales, trading and underwriting businesses, and certain shared services across securities, derivatives, foreign exchange, futures, options and commodities products for Corporate Treasury, Corporate Investment Portfolio and Global Wealth & Investment Management (GWIM) across 12 jurisdictions in Asia Pacific.

In GMO, there are 3 teams hiring: Global Data and Reporting Operations (GDRO), Global Asset Services (GAS) and Securities Core Trading Operations (SCTO):

Global Data and Reporting Operations

The Global Data and Reporting Operations (GDRO) team has horizontal responsibility across Global Markets and serves as the primary Pre-trade interface to our internal Global Markets Sales and Trading teams and clients. GDRO covers 4 main teams.

• Reference Data Management – Supports Global Banking and Markets and maintains data vital to ongoing client and internal trading desk activities. Team is responsible for the setup, maintenance and continued integrity of client and product reference data.
• Client Assets Control Group – Provides oversight to ensure the bank complies with the relevant Customer Asset protection rules globally. These rules are required to minimize the risk of loss/misuse of client assets.
• NFRR (Non-Financial Regulatory Reporting) – Overseeing the Non-Financial Regulatory Reporting related processes, the health and execution of Strategic improvements as well as centralizing Report Preparation (where relevant)
• Business Intelligence – An analytics team providing business intelligence data to drive metrics-based strategy and decision making.

Global Asset Services

The Global Asset Services (GAS) team manages the processing of Corporate Actions (CA) events relating to Equity and Fixed Income products and work with trading desks, stock loan counterparties, affiliates, prime brokerage clients in the day-to-day operations on various tasks related to CA event life cycle starting with performing event capture / data scrubbing prior to sending notifications; collate and process clients' instructions on elective events; reconciliation and payment release of CA cash / stock entitlements. Breaks resolution will be part of the post payment activities together with CA-related reporting. Additionally, the team manages CA associated client queries.

Securities Core Trading Operations

The Securities Core Trading Operations (SCTO) team manages the daily operations of our Global Market client base. The team handles post-trade operations and is the primary interface to Global Equities Trading partners. Teams like Trades Processing, Settlements, Stock Lending and Trade Control supports the bank's agency and principal sales trading activity for institutional clients trading Asian markets and Asia-based clients trading Global Markets. As the primary support for the business, teams have the core objective of ensuring the accurate capture of the bank's trading activities and subsequent confirmation and settlement of the transactions. This may include booking, enrichment and correction of trades, reconciliation, inventory management, stock borrowing, etc.

Placement of Summer Analysts varies and is determined during the hiring process where we match the business needs and the interests/skills of the Summer Analyst.

What you'll do:

Global Data and Reporting Operations

• Ensure all transactions are processed as quickly and accurately as possible, in accordance with the company's internal policies and local regulations
• Work closely with business partners on complex transactions by providing professional operational solutions to achieve client satisfaction
• Provide consistent service in client facing roles to and keep clients informed on status of all outstanding enquiries
• Understand local regulatory environment and support various ad-hoc regulatory requirements and inspections
• Manage operational risk to maximize operational control effectiveness and profitability, while minimizing risk. Proactively identify, debate, address and escalate any deviations / issues on immediate basis
• Drive change initiatives for process optimization and system enhancement, as well as technical and operations changes
• Constantly look for avenues of improvements across people, process, controls, client experience and strategic cost management
• Ensure that the company delivers services and execution that meet market-leading standards

Global Asset Services

• Support Corporate Action processing front to back for APAC markets
• Ensure processing are performed accurately, timely and consistent manner, in accordance with departmental procedures and to the agreed service level.
• Managing internal and external stakeholders relating Corporate Action issues
• Adhering to documented procedures, control guidelines and compliance framework
• Attending to reconciliation breaks in accounts daily
• Ensuring that all queries are attended to and investigated promptly
• Supporting change by assisting in devising and implementing improved processes
• Participating in project initiatives and taking up ad hoc tasks as required
• Managing operational risk associated within the processes

Securities Core Trading Operations

• Provide operational support for Agency & Principal Trading desks across APAC markets.
• Responsible for trades allocation, confirmations processing and settlement for institutional clients trading in equity & fixed income securities
• Ensure transactions are booked accurately and investigate and resolve all trade exceptions, manage fails and queries within the agreed SLAs
• Identify, report and escalate issues in a timely manner
• Adhere to control procedures, identify risk gaps and ensure controls are implemented to close those gaps
• Review processes to identify issues within the flows and work with senior management to drive process changes and enhancements
• Build and maintain relationships with the trading desks, clients and other Operation teams
• Engage in ad-hoc projects and initiatives, including liaison with internal and external counterparties globally

Program Overview

The Summer Program is a 10-week program designed to provide Summer Analysts with a unique opportunity to gain an exposure to life at Bank of America and also make significant contributions to the team. The Summer Program begins with an orientation and induction to the firm. Summer Analysts are given a true associate experience, as assignments mirror full-time responsibility and include goal-setting and a formal review process.

• Access to the bank's learning hub containing a variety of learning resources, ranging from banking fundamentals to communication skills
• Structured and on-the-job training
• Networking and social opportunities
• Speaker series with senior management across all lines of business
• Corporate Social Responsibility project/learning
• Involvement in Opportunity and Inclusion training/events
• Consideration for full-time employment upon graduation

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 an 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

Connecting Asia Pacific to the World

Our Asia Pacific team is spread across 19 cities in 12 jurisdictions. We are focused on connecting Asia to the world and the world to Asia, using our global expertise to ensure success is shared between us, our clients and our communities. Our regional footprint covers 12 currencies, more than a dozen languages and five time zones, placing us firmly among the region's leading financial services companies.