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Bank Of America Senior Business Financial Control Product Associate United States, New York, New York 946925222
This job is responsible for leading 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 a knowledge and understanding of product(s), processes, and inherent risks of a product, business or function to analyze and substantiate Profit and Loss (P&L) attributes and balance sheets, establish infrastructure for new products, and approve ledger journal entries.
Associate in this role has an interest in understanding Global Financial Markets and market drivers of the product they are supporting. Associate has the curiosity to understand complex structured transactions and operational risks around the end-to-end product lifecycle.
Associate is interested in preparing analysis, performing critical testing and calculations in support of LOB. Produces financial reporting and disclosures, assists in production of regulatory matters. Analyzes & substantiates P&L attributes and balance sheets, establishes infrastructure for new products, performs month end close and periodic analysis, and validates postings and balances. Interacts with Front Office and support groups.
Partners directly with our Front Office LOBs providing strategic guidance and insight; Performs the product control function to ensure the integrity of our financial results.
Responsibilities:
Prepares and analyzes balance sheets and Profit and Loss (P&L) reports and validates postings and balances for a product aligned to the LOB using knowledge of financial products, market risk profiles, and risk mitigation techniques and strategies
Supports the development of strategic and annual planning and implementation, performing profitability analysis, forecasting, and financial reporting for a product or general ledger account type
Oversees a set of product(s) or general ledger account(s) and maintains financial responsibility, including accountability for accuracy of financial reporting for Profit and Loss (P&L) activities
Partners closely with the front office, Operations, and Technology to define business finance processes and implement related technology solutions
Supports delivering, designing, maintaining, and enhancing Value at Risk Back-Testing (VBT) data and Management Information System (MIS) processes that may impact multiple product control businesses
New transaction review and substantiation as part of the due diligence process
Understanding of Front to Back reconciliation and control
Independent price verification
Valuation Adjustment and reserve calculations
Management reporting (revenue and expense analysis)
Ad hoc and value-added business support
Month-end book close
Financial disclosure reporting
Valued and trusted business partner to functions including FO, IT, Risk, Operations and Compliance
Required Qualifications:
Minimum of 5 years financial industry /banking experience
Strong financial analytics experience
Advanced experience / skills with excel and complex spreadsheets
Candidate must be able to work both independently and as a team member
Strong communication and presentation skills
Strong problem solving and analytics abilities
Qualifications:
Bachelor’s degree in Accounting/ Finance
Skills:
Analytical Thinking
Attention to Detail
Financial Accounting
Financial Management
Reporting
Business Analytics
Data Quality Management
Financial Processing
Price Verification and Valuation
Scenario Planning and Analysis
Business Acumen
Critical Thinking
Influence
Prioritization
Problem Solving
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