Anjana

COLLATERAL FULFILLMENT:

The Collateral Fulfillment team is supposed to update collateral details in the system, an app known as Loan IQ.e receive collateral details in an Excel document known as Basel, prepared by underwriters.

I was part of pilot batch and got training over the call and then cross trained the team. Fulfillment offshore team is just 4-year-old and still full of updates and calls are going on. We do get exposure to learn more frequently and hence process is interesting

LOB interaction is there via emails/calls.

AUDIT CONFIRMATION WORK:

As auditors, we receive spreadsheets (excel/pdf) with loan data e.g. amount/ maturity/ rate to validate from our internal system i.e. Loan Iq. Data comes on common interface named ‘confirmation.com’.1st quarter of year considered as peak of Audit work.

MAC LEGAL DOC REVIEW:

As a part of "Monitoring and compliance Credit document review team, working on post- closing loan requirements by reviewing legal documentations of secured and unsecured loan where Bank of America is Agent, Direct or Participant. We used to reduce the risk by monitoring the credit documents through research, analysis & reconciliation of the legal documents of the borrowers (i.e. - Credit/Loan Agreements, Credit Approval memorandums, Amendments & other legal documents).

Review of credit/loan agreements of different borrowers, reconcile qualitative and quantitative covenants, credit ratings, and pricing.

Analyze minimum documentation requirement given under Condition precedent of Credit Agreement (i.e. Corporate Resolution & Incumbency, Promissory Note, Security/Pledge/Collateral Documents, Guaranty and Legal Opinion (ILA).

Establish financial document ticklers under financial Section of Compliance Tracking System. Analyze BOFA Role (Direct/Agent/Participant), Commitment Amount (Global/ BOFA's Share), Facility Type (Revolver/ Term Loan/ Swing Line/ LC), Termination/ Maturity Date etc. to setup Ticklers on CTS.

OVERDRAFT:

The overdraft team was working on a very short timeline to approve and deny the overdraft requests. This team was considered as high risk process. Within 15mins, send all the approval emails as per procedure, risk ratings, level of approvals as per amount.

Working with such a critical process needs lots of punctuality, ability to handle the process, working with 100% accuracy. Since, money will go out from bank, error was not even a scope.

This process requires, writing email skills, pay or reject the OD fast and accurate as per the email, 100% focus, some no breaks on high volume days (1stand 16th of every month).

RESEARCH & RESOLUTION TEAM:

Researching and reconciling transaction which were missed or entered incorrectly to the customer’s account.

Service requests may include financial or non-financial query. E.g. encoding errors, dispute resolution, account maintenance, linking-unlinking child-parent account, missing deposits, Internal bank transfer, correction of incorrect debit or credit entries, activation of different services (waiving charges, overdraft service, etc).

For resolutions, the R&R team needs to contact BOA's different branches via emails, calls, or chat.

We were providing services to all account types, and corporate accounts were our major services.

The India team was supposed to receive these service requests in a common workbasket. Service tickets were raised through other BOA departments and the call center (via fax, calls, and emails).