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Bank Of America FICC Business Finance Control Product Associate United States, New York, New York 860543785
This job is responsible for supporting business analysis for a Line of Business (LOB) by producing all financial reporting and disclosures in partnership with senior management, front office, and other business stakeholders. Key responsibilities include applying knowledge of product(s), processes, and inherent risks for a product, business or function to analyze and substantiate Profit and Loss (P&L) attributes and balance sheets, assist in production of regulatory matters analysis, and perform critical testing and calculations.
Responsibilities:
- Supports with preparing and analyzing balance sheets and Profit and Loss (P&L) reports and validates postings and balances for a product aligned to a Line of Business (LOB) using knowledge of financial products, market risk profiles, and risk mitigation techniques and strategies
- Performs month-end close and financial reporting, critical testing and calculations, and periodic analysis
- Assists in the development of strategic and annual planning efforts and implementations and performs profitability analysis, forecasting, and financial reporting for a product or general ledger account type
- Partners closely with the front office, Operations, and Technology to support defining business finance processes and implementing related technology solutions
- Analyzes regulatory matters, such as the Comprehensive Capital Analysis and Review (CCAR) and Recovery and Resolutions Plans (RRP), to assess risk modeling practices within the bank
Areas of responsibility include:
Financial reporting and disclosures
General ledger close and reconciliations
Management reporting and analysis
Regulatory capital disclosures
Price Testing
Sector analysis
Stress Test and Forecasting
Process analysis, documentation of policies and procedures and evidencing of results are also of primary importance in this role. Trading desk support, including interpretation of accounting policies and ad hoc reporting, is another critical requirement. Throughout the tenure of the role, the teammate should gain exposure and acumen in the Global Markets/FICC area of the organization and develop or improve the following skills: GAAP (with a focus on Fixed Income), Management and Regulatory/SEC reporting, as well as written and oral communication
Detailed Responsibilities:
- Supports with preparing and analyzing balance sheets and Profit and Loss (P&L) reports and validates postings and balances for a product aligned to a Line of Business (LOB) using knowledge of financial products, market risk profiles, and risk mitigation techniques and strategies
- Experience with building and running reconciliations required in a product control role.
- Perform independent price verification of positions held by the trading desk
- Performs month-end close and financial reporting, critical testing and calculations, and periodic analysis
- Assists in the development of strategic and annual planning efforts and implementations and performs profitability analysis, forecasting, and financial reporting for a product or general ledger account type
- Partners closely with the front office, Operations, and Technology to support defining business finance processes and implementing related technology solutions
- Analyzes regulatory matters, such as the Comprehensive Capital Analysis and Review (CCAR) and Recovery and Resolutions Plans (RRP), to assess risk modeling practices within the bank
Required Qualifications:
- Bachelor's Degree or equivalent work experience
- 2-5 years financial industry/banking experience
- Controller experience with a strong understanding of Risk, P&L and Financial Analysis
- Strong financial analytics experience
- Advanced experience/skills with Excel and complex spreadsheets
- Candidate must be able to work both independently and as team member
- Strong communication and presentation skills
- Strong problem solving and analytical abilities
Desired Qualifications:
- Bachelor's Degree in Accounting/Finance
Skills:
- Analytical Thinking
- Attention to Detail
- Financial Accounting
- Financial Management
- Reporting
- Business Analytics
- Critical Thinking
- Data Quality Management
- Financial Processing
- Price Verification and Valuation
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