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Job Description
- About Us
Bank of America is driven by a common purpose to enhance financial lives through the power of connections. Our commitment to Responsible Growth shapes every aspect of our operations, ensuring we consistently deliver value to our clients, teammates, communities, and shareholders.
Central to our success is our dedication to fostering a diverse and inclusive workplace where every individual feels valued. We embrace talent from various backgrounds and invest significantly in our employees and their families by providing competitive benefits that promote physical, emotional, and financial well-being.
At Bank of America, collaboration and flexibility are paramount. We prioritize teamwork and offer adaptable work arrangements tailored to the diverse roles within our organization.
Joining Bank of America promises a fulfilling career with ample opportunities for learning, growth, and meaningful contributions that make a difference on a global scale.
Global Business Services
Bank of America's Global Business Services unit provides essential Technology and Operations support to the Bank's Lines of Business and Staff Support Functions worldwide. Our globally integrated delivery model ensures seamless operations and resilience on a global scale.
We are renowned for our flawless execution, robust risk management, operational resiliency, operational excellence, and a culture of innovation.
In India, Bank of America operates in five locations through BA Continuum India Private Limited (BACI), a non-banking subsidiary of Bank of America Corporation responsible for the Indian operations of Global Business Services.
Process Overview
Tax Reporting is a critical function involving interest-bearing accounts and Certificates of Deposits (CDs) that necessitate a complete Form W-9 during the account opening process. The Form W-9, an integral part of the signature card, is stored on Image View. The Tax Reporting team receives Forms-W9s for various purposes, including Reasonable Cause, B-Notice, Penalty Notice mailings, and updates from banking centers for account name or TIN changes.
Responsibilities
- Calculate and process interest adjustments for Checking and Savings Accounts.
- Ensure accuracy of the Customer's TIN on the form.
- Manage initiation and termination of backup withholding.
- Update and validate Name, Address, and TIN as per SOR on IRS reports for savings bond.
Requirements
- Education: Any Graduate with a Commerce background or related to banking.
- Certifications: None required.
- Experience: 3 to 5 years.
Foundational Skills
- Strong domain knowledge of US Tax regulations.
- Excellent verbal and written communication abilities.
- Mandatory knowledge of US Tax laws.
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- Understanding of Money Laundering and its implications on Banking Operations is advantageous.
- Flexibility to work in varying shifts as per business needs, and readiness to work additional hours when necessary.
Desired Skills
- Preferably experienced in the Financial/Banking sector.
- Prior exposure to the US Banking industry is a plus.
- Proficient in handling multiple applications.
- Detail-oriented with a keen eye for accuracy.
- Effective communicator with strong interpersonal skills for collaboration within the team and Line of Business.
- Capable of working efficiently under pressure in a high-volume environment, meeting tight deadlines without compromising accuracy and TAT.
- Team player with a collaborative mindset.
Work Timings: 6:30 AM to 3:30 PM IST and 3:30 PM to 12:30 AM IST
Job Location: GIFT City & Hyderabad,
Skills
DeveloperUS TaxTeam PlayerMoney LaunderingCommunication SkillsBanking OperationsFinancial Banking Domain KnowledgeIf an employer asks you to pay any kind of fee, please notify us immediately. Jobaaj does not charge any fee from the applicants and we do not allow other companies also to do so.
About Company
Bank of America is one of the world’s largest financial institutions, serving individual consumers, small and middle‑market businesses, and large corporations with a full range of banking, investing, asset management, and risk management products. Headquartered in Charlotte, North Carolina, the bank operates in more than 35 countries and provides access to over 140 currencies.
In 2008, Bank of America acquired Merrill Lynch, one of the most respected names in investment banking and wealth management. Following the acquisition, the investment banking and markets division operated as Bank of America Merrill Lynch (BAML) until 2019, when it was rebranded as BofA Securities, while the wealth management business continues under the Merrill brand. This integration strengthened the bank’s global presence in capital markets, advisory, and private wealth.
In India, Bank of America has been present since 1964, with branches in Mumbai, New Delhi, Chennai, Bengaluru, and Kolkata, and large Global Capability Centers in Gurugram, Hyderabad, Chennai, and Mumbai. The India teams deliver corporate & investment banking, markets, treasury, and technology solutions to clients worldwide, while also supporting the bank’s global operations.
Bank of America offers career opportunities in finance, technology, operations, risk, and analytics, attracting professionals who value innovation, client focus, and global collaboration. The firm is recognised for its sustainability initiatives, diversity & inclusion programs, and community engagement in India.
Important dates & deadlines?
Application Deadline
23 Oct 25, 12:13 PM IST
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