The Collateral Trading Optimization (CTO) Business Finance & Controls (BF&C) team is part of GBAM Finance and is responsible for coverage of the Collateral Trading Optimization business. The CTO desk is a desk within the Counterparty Portfolio Management business. The CTO desk's mandate is to manage funding and capital costs of the GBAM derivative portfolio across all legal entities and business units in collaboration with other CPM desks.
The Finance team supports the desk in a Business Finance Officer (BFO) capacity, ensuring proper reporting of the balance sheet and financial results. Core responsibilities will include helping with daily, weekly and monthly risk and P&L reporting, explains, and commentary, quarterly accounting disclosures if needed, daily and monthly P&L and account reconciliations, balance sheet reviews, coordinating with audit (internal & external, SOX), month end close, reserve calculations, pricing adjustments and planning/forecasting.
As part of the responsibilities of the role, the teammate will also develop business partner relationships with the Front Office, various businesses, controller groups and other support partners. Throughout the tenure of the role, the teammate should gain exposure and acumen in collateral, systems used for collateral, FTP, and several other areas of the organization. The candidate will develop or improve the following skills: Business Partnering, Management Reporting Focus, Process Control, and Capital Management.
This is a well- rounded role in which candidates have the opportunity to partner with the CTO desk (Front Office), Risk and other senior finance managers. Candidate will be exposed with how to deconstruct balance sheet and P&L to provide analytical support to the desk and other business partners.
BS / BA Degree Required - (Accounting, Finance, or Economics Preferred)
3 - 7 years accounting or finance experience
Understanding of accounting (debits / credits), reconciliation, balancing
Understanding of ledger, and sub ledger systems (SAP/eLedger, Oracle, Finman, etc)
Advanced in Microsoft Office suite of products with emphasis on strong Excel (macros, pivot tables, etc) as well as various Bank specific reporting tools (EPM, FMA, etc)
Understand the business strategy, products and inherent risks.
Oversight on the official daily P&L explain and its provision for VaR backtesting.
Regulatory capital disclosures, Price Testing, Sector analysis, Stress Test and Forecasting.
Must be able to work across the organization to research and resolve issues
Monthly Independent Price verification on Derivatives and securities positions.
Calculation of the Valuation adjustment - Validation of appropriate application and use of models for books & records.
Substantiation & analysis of daily Balance Sheet and P&L with analytics and commentary on Line of Business performance.
Preparation of monthly & quarterly revenue commentary to senior manager and regulators.
Responsible for being audit compliant and meet the regulatory requirements.
Highly organized, detail oriented, proactive, and able to multitask in a deadline driven environment
Independent learner and thinker, Initiative, Insight, leadership skills
Demonstrated financial acumen with analytical and problem solving skills
Ability to communicate, partner and influence across a matrix organization
MBA / CPA / CFA
Experience with Collateral
Experience with Carbon, Musketeer, Vienna, EBAR, Impact, Intrader, Martini, Bookmap
FASB / SEC Exposure
Experience around regulatory reporting, Sarbanes Oxley, capital reporting and metrics
1st shift (United States of America)
Hours Per Week:
Internal Number: 21007976
About Bank of America
Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses, and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company offers industry-leading support to approximately 3 million small business households through a suite of innovative, easy-to-use online products and services. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world.