Bank Of America Assistant Vice President / BFC P & L Associate 

India, Maharashtra, Vasai-Virar 

504880992

Job Description:

Job Description:

• Divisional Overview: The core responsibility of the Product Control group is to develop and maintain a strong control infrastructure around the revenue generating capabilities of the firm. Product Control seeks to challenge and partner the business to optimize financial returns.
• Business Unit Overview: Product Control Team reports T+1 P&L for India region across different asset classes. The primary responsibility for a product controller is to produce P&L for the trading desk, substantiate the P&L numbers, explain the P&L to both the traders and onshore regional controllers and ensure that they maintain a ‘control’ environment.

Responsibilities:

• To ensure that the daily P & L is accurately reported to the FO & reconciled between P & L tools & management reporting tools.
• To ensure that the relevant P&L and Balance sheet positions are correctly reported at month ends and that the applicable reconciliations have been completed and all issues identified/resolved.
• Providing daily commentary on P&L swings and variance investigation to Front office traders and senior finance managers.
• To ensure that the controls are adhered to.
• To coordinate the completion and delivery of the tasks allocated to the team.
• To provide advice to the business on the P&L impact of trades and the interaction of the Front and Back Office systems, especially regarding trades and proposed new workflows.
• To ensure that applicable accounting standards are adhered to regarding P&L and Balance Sheet reporting.
• To ensure that Global policies are always adhered to and are kept fully up to date with any changes in the business requirements.
• Ability to handle Internal, Concurrent, Statutory and Regulatory audit queries independently and provide information on timely basis.
• Preparing monthly inputs for ALCO meetings and P&L decks for local management meetings.
• Assist in streamlining and enhancement of all product control processes and become actively involved with system development ranging from technical enhancements and new product releases to automation of existing processes.
• Leading various projects and participating in new product reviews.
• To act as trouble shooter within the team.

Skills:

• To ensure that the daily P & L is accurately reported to the FO & reconciled between P & L tools & management reporting tools.
• To ensure that the relevant P&L and Balance sheet positions are correctly reported at month ends and that the applicable reconciliations have been completed and all issues identified/resolved.
• Providing daily commentary on P&L swings and variance investigation to Front office traders and senior finance managers.
• To ensure that the controls are adhered to.
• To coordinate the completion and delivery of the tasks allocated to the team.
• To provide advice to the business on the P&L impact of trades and the interaction of the Front and Back Office systems, especially regarding trades and proposed new workflows.
• To ensure that applicable accounting standards are adhered to regarding P&L and Balance Sheet reporting.
• To ensure that Global policies are always adhered to and are kept fully up to date with any changes in the business requirements.
• Ability to handle Internal, Concurrent, Statutory and Regulatory audit queries independently and provide information on timely basis.
• Preparing monthly inputs for ALCO meetings and P&L decks for local management meetings.
• Assist in streamlining and enhancement of all product control processes and become actively involved with system development ranging from technical enhancements and new product releases to automation of existing processes.
• Leading various projects and participating in new product reviews.
• To act as trouble shooter within the team.