Senior Banking Financial Control Product Associate - Global Loan Portfolio Management Finance
Bank of America
Location: Charlotte, North Carolina
Internal Number: 21047900
The Global Loan Portfolio Management (GLPM) Business Finance & Controls (BF&C) team is part of GBAM Finance and is responsible for coverage of the GLPM business - a public side trading desk tasked with credit risk hedging the firm's corporate loan portfolios including both fair value and accrual accounting. GLPM manages potential default loss, mark-to-market volatility, and overall P&L associated with corporate loans and the cost of hedging.
The Finance team supports the desk in a Business Finance Officer (BFO) capacity, along with trade support and control functions to ensure proper reporting of the balance sheet and financial results. Core responsibilities include daily, weekly and monthly risk and P&L reporting, explains, reconciliations and commentary; quarterly accounting disclosures; balance sheet reviews; audit coordination (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 various businesses, controller groups and other support partners. Throughout the tenure of the role, the teammate should gain exposure and acumen in funded and unfunded loan balances, various lending products, FTP, Allowance for Loan Loss, Capital (Basel 3A, Basel 3S, SLE), 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 closely with the GLPM desk (Front Office), Risk and other senior finance managers. Candidate will learn to view complex traded products at a macro and micro level, as well as how to deconstruct balance sheet and P&L to provide analytical support to the desk and other business partners. The role also involves development and enhancement of financial analytics platforms. The candidate will have the opportunity to help coach talent on the team and will be looked to provide guidance for pnl production activities.
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.