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Operations Analyst - Cash Management Services

Employer
Bank of America Merrill Lynch
Location
Dublin, Ireland (IE)
Salary
Competitive
Closing date
2 Jun 2019

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Job Details

We have an exciting opportunity in our Dublin office for a talented individual to join our Balance Analysis team.

 

The Balance Analysis team is responsible for the analysis of bank accounts funded by the Balance Management team in the EMEA region. This group fund and analyse both cash and custody bank accounts used by our business units, including debt, equities, treasury, group clearing, equity and equity financing, futures, prime brokerage, stock loan.

 

The role will involve close liaison with the various teams within the Cash Management Services Department and other internal teams to establish root causes for both positive and negative bank balances on a daily basis.

 

You will be a key player in achieving one of the department’s key objectives in relation to reducing opportunity costs for the firm. This will be achieved through identifying key contributing factors and driving changes in processes which will produce cost savings.

 

The team is responsible for production of monthly management reporting and meetings in relation to Opportunity Costs and highlighting key trends, root causes and suggested improvements.

 

Other responsibilities include coordinating departmental errors documentation, processing and validating monthly debit and credit interest applied to our accounts by our agent banks and producing daily balancing reports for the IPB, Debt and Treasury business areas.

 

What will your main responsibilities involve?

  • Production of daily balance reports and co-ordination detailed, accurate and timely explanations in relation to balances for senior management
  • Production of Monthly Management Reporting around Opportunity Costs incurred by the firm and facilitation of meetings to discuss trends, root causes and suggestions for improvement
  • Production of daily balancing reports for various business units
  • Processing and validation of debit and credit interest applied to our bank accounts by our nostro agents
  • Ensuring all explanations in relation to daily bank balances greater than $5m are documented in a clear, accurate and timely manner
  • Dealing with agent banks in relation to debit / credit interest rates applied to our bank accounts and ensuring back valuations and re-imbursements are actioned in a timely manner
  • Co-ordination and cost calculation of departmental errors. Facilitations of weekly departmental meetings to discuss root causes for these errors, preventative actions etc.
  • Driving changes in processes which contribute of Opportunity Costs for the firm
  • Answering queries (written/verbal) in a timely manner
  • Cross-training with other Business Units to gain understanding of their needs and ensure excellent client service is delivered and desirable results achieved
  • Close liaison with the balance management team
  • Close liaison with debt and equity operations groups and with Finance Requirements

 

What skills and qualifications will you ideally possess?

  • An understanding of cash flows and their financial impact
  • High level of numeracy and excellent analytical skills
  • Must be detail orientated and accurate
  • Ability to work to deadlines and often in a pressure environment
  • Ability to prioritise and utilise resources effectively to meet client requirements
  • Good team player
  • Dedicated interest in effecting change and process improvements
  • Excellent interpersonal and communication skills at all levels

About Bank of America Merrill Lynch

Bank of America is one of the world's leading financial institutions, serving individual consumers, small- and middle-market businesses, large corporations and governments with a full range of financial and risk management products and services. Bank of America Merrill Lynch is the marketing name for the global banking and markets businesses.

The company has had a presence in EMEA since 1922. With offices in 19 countries on three continents, it offers an integrated and comprehensive set of products and services across Global Corporate and Investment Banking, Global Markets and Consumer Card, serving the needs of individual, corporate, institutional and government clients, combining the best of local knowledge and global expertise. Developing solutions for social and environmental challenges is at the core of Bank of America Merrill Lynch’s responsibility platform. In more than 90 countries around the world, we partner with employees, clients and stakeholders to help make financial lives better.

Apply

If you‘re interested in this opportunity please send your details to us by applying online.

Good conduct and sound judgment is crucial to our long term success. It’s important that all employees in the organisation understand the expected standards of conduct and how we manage conduct risk. Individual accountability and an ownership mindset are the cornerstones of our Code of Conduct and are at the heart of managing risk well.

We are an equal opportunities employer, and ensure that no applicant is subject to less favourable treatment on the grounds of gender, gender identity, marital status, race, colour, nationality, ethnic or national origins, age, sexual orientation, socio-economic background, responsibilities for dependants, physical or mental disability. The Bank selects candidates for interview based on their skills, qualifications and experience.

 

As part of our standard hiring process to manage risk, please note background screening checks will be conducted on all hires before commencing employment.

Company

Bank of America is one of the world's leading financial institutions, serving individual consumers, small- and middle-market businesses, large corporations and governments with a full range of financial and risk management products and services. Bank of America Merrill Lynch is the marketing name for the global banking and markets businesses.

The company has had a presence in EMEA since 1922. With offices in 23 countries on three continents, it offers an integrated and comprehensive set of products and services across Global Corporate and Investment Banking, Global Markets and Consumer Card, serving the needs of individual, corporate, institutional and government clients, combining the best of local knowledge and global expertise. Developing solutions for social and environmental challenges is at the core of Bank of America Merrill Lynch’s responsibility platform. In more than 90 countries around the world, we partner with employees, clients and stakeholders to help make financial lives better.

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