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. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.

Being a Great Place to Work and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates’ physical, emotional, and financial wellness through affordable, competitive and flexible benefits.

We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve.

Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs.

At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. 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

Loan Servicing Operations supports existing Commercial Lending products and services (Syndicated & Bilateral Loans). These services include updating customer and loan information, responding to client and business partner enquiries, managing financial and non-financial transactions, generating bills and invoices, and providing customer support and general maintenance through the life of the loan.

Job Description

Dedicated Servicing Team (Agented/Part-bought) supports Syndicated Loans servicing both 'As 'Agent' and in 'Part-bought' lender capacity, mainly for US region relationships. Servicer-1 works on various financial transactions and non-financial service requests received from Clients/Agent banks. Loan IQ is the System of Record to process all such transactions.

Responsibilities

• Comprehending notices/incoming requests from Client/Agent Bank/Lenders and verifying/updating details in workflow tool
• Timely and accurate assignment of requests from workflow tool to processors
• Validating payment instructions/ notices and releasing advances/wires/notices to clients, lenders & Agent Banks on Loan IQ
• Actioning on periodic rate changes, rollovers, advances, payments, conversions on Loan IQ and Fronted Letter of Credit for Large Corporates
• Updating system of record while adhering to standard operating procedure and guidelines
• Managing manual matching and timely monitoring of wire matching automation, its reporting and working on manual matching
• Understanding of General Ledger postings and past dues
• Timely action, resolution and reconciliation of financial breaks/past dues and following escalation matrix as & when needed.
• Effective communication and coordination with fellow team members, managers, and other stakeholders (agent banks/lenders).
• Timely action on preparation and distribution of Delayed Investor Funding Report to stakeholders.
• Taking ownership of assigned portfolios/service requests/transactions and ensuring service request completions within turnaround time.
• Adherence to the Business Deliverables, SLA (Service Level Agreement) and Accuracy.

Requirements

Education

• B Com, M Com, MBA (graduation in finance stream)

Certifications - If Any

Experience Range

• 0-3 Years of relevant experience

Foundational Skills

• Overview & Navigation of Loan IQ │ Advanced
• Overview & Navigation of iCon/GSS │ Advanced
• Overview & Navigation of Clearpar │ Advanced
• Banking & Markets Knowledge - Closing & Settlements, Loan Trade Servicing & Assignments, Primary & Secondary Markets │ Proficient
• Reconciliation - Understanding on GLs, Past dues etc. │ Proficient
• Commercial & Business Banking Lending - Basic Overview, Credit Product Knowledge, Loans Life Cycle & Credit documents │ Proficient
• Loan Servicing (Bilateral and Syndication) - Overview, types of Facilities, roles of different parties, Advances, Payments, Pricing Change, Renewals/Rollovers, Conversions, Fees, LCs, and Loan Maintenance │ Proficient
• Attention to Detail │ Expert
• Communication Skill - Verbal/Written │ Advanced
• Flexible and Open-Minded │ Proficient
• Customer Focus │ Proficient
• Stakeholder Management & Network/Relationship Building │ Proficient
• Critical Thinking │ Proficient
• MS Office (Excel, Word, PowerPoint) │ Proficient

Desired Skills

• Functional knowledge of AI/ML tools │ Proficient
• Operational Risk - Inadequate or failed internal processes, people, and systems or from external events │ Proficient
• Global Payment Product/Ops knowledge - Wire Transfer, Direct Debit, ACH, Swift etc. │ Proficient
• Active Listening │ Proficient
• Team Building │ Proficient
• Numerical Ability │ Proficient
• Overview & Navigation of WorkFusion │ Proficient
• Data Management & Dashboard Tools - Tableau, Alteryx, SharePoint etc. │ Proficient

Work Timings

• 6.30 PM IST - 03.30 AM IST (US Region)
• 7.30 PM IST – 4.30 PM IST (US Region)