Job Description:

Overview (Bank overview, GBS India overview, Function Overview) *

Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses, and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services.

We are committed to attracting and retaining top talent across the globe to ensure our continued success. Along with taking care of our customers, we want to be the best place for people to work and aim at creating a work environment where all employees have opportunity to achieve their goals.

We are a part of the Global Business Services which delivers technology and operations capabilities to all Bank of America lines of business (LOB) and enterprise functions.

Our employees help our customers and clients at every stage of their financial lives, helping them connect to what matters most. This purpose defines and unites us. Every day, we are focused on delivering value, convenience, expertise and innovation for individuals, businesses, and institutional investors we serve worldwide.

* BA Continuum is a nonbank subsidiary of Bank of America, part of Global Business Services in the bank.

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*

• Taking ownership of assigned portfolios/service requests/transactions and completing with in turnaround time.
• Validating payment instructions/ notices and release advances/wires/notices to clients, lenders & Agent Banks on Loan IQ
• Managing periodic rate changes, rollovers, advances, payments, conversions, and Fronted Letter of Credit for Large Corporates
• Updating system of record with adherence to standard operating procedure and guidelines
• 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)
• Adherence to the Business Deliverables, SLA (Service Level Agreement) and Accuracy.
• Innovative approach to work and continuous identification and highlighting of process improvement opportunities
• Identification and escalation of risk issues or controls gaps, working towards risk mitigations through controls enhancements and creating a risk proactive team culture, following the risk framework all through.
• Providing subject matter expertise and guidance to the team including coaching and mentorship to the new joiners.
• Working on complex deals, outstanding past dues, and reconciliation line items.
• Exceptional problem solving and exception management skills.
• Advanced level of understanding of commercial lending products, functions, and processes
• Understanding of loan trading markets and functions