APAC | Singapore | Global Markets Operations | Summer Analyst 2022

APAC Global Markets Operations Summer Analyst Program

Do you have what it takes to join our dynamic and multi-faceted APAC Global Markets Operations team that partners with all areas of the firm to process over a million trade settlements a year?

What we’re looking for (Key Requirements):

• Penultimate year undergraduate/ master student
• Outstanding academic achievements
• 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
• Show a keen interest in the business you are applying to

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 2 teams hiring: Client Operational Services (COS) and Securities Core Trading Operations (SCTO)

Client Operational Services

The Client Operational Services team has horizontal responsibility across Global Markets, and serves as the primary interface to our internal Global Markets Sales teams and our clients. COS covers 5 main teams.

• Cash Management Services – Manage the firm’s overall funding positions and ensure accurate and timely processing of payments
• Client Assets Control Group – Provide oversight of Client Asset protection front-to-back across the organization
• Client Services – Manage and deepen client relationships by assisting with their operational needs
• Onboarding – Implement products and services for Global Market clients, and handle the end-to-end AML/CDD reviews for Global Banking, Global Markets, and Investment Banking clients
• Operational Risk and Quality Assurance – Ensure governance and controls across the COS organization
• Reference Data and Data Management – Manage the creation and maintenance of account level reference data to facilitate the processing and settlement of trades across all global market product classifications

Securities Core Trading Operations

The Securities Core Trading Operations 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 BofA‘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 BofA’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.

Overview:

Summer Analysts in the Asia Pacific region participate in an 8-10 weeks program, depending on location, which is designed to give you a unique opportunity to gain exposure to life in either COS or SCTO. The summer program begins with a firm-wide orientation, and continues throughout the internship with training, networking events and social activities.

You will be given responsibilities early and will be expected to make a significant contribution to the team. As Internships mirror full-time positions, they also include goal-setting and a formal review process as well as plenty of opportunities to interact and work with senior managers.

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 will do (Key Responsibilities):

Client Operational Services

• Ensure all transactions are processed as quickly and accurately as possible, in accordance to 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

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.

About Bank of America:

Our purpose as a firm is to make financial lives better, through the power of every connection. Across the world, we partner with leading corporate and institutional investors through our offices in more than 35 countries. In the U.S. alone, we serve almost all of the Fortune 500 companies and approximately 67 million consumer and small-business clients. We provide a full suite of financial products and services, from banking and investments to asset and risk management. We cover a broad range of asset classes, making us a global leader in corporate and investment banking, sales and trading.

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.