The Chief Financial Officer (CFO) Group is responsible for the overall financial management of our company. This includes accounting, financial and regulatory reporting, balance sheet management, financial planning and analysis, treasury, investor relations, corporate investments and tax.
Global Banking and Markets (GBAM) Finance strives to be a valued business partner to the company's trading, corporate and institutional banking businesses. Our first priority is to operate a series of key control processes to ensure the integrity of GBAM's financial results. Then we build on these activities to offer performance insight to business leaders. The assets of Finance are its people. GBAM Finance provides strategic counsel and analysis to the lines of business and is responsible for executing all core finance functions and key control processes, including balance sheet control, regulatory governance, financial reporting and business partnering as it related to GBAM
The Stress Testing and Recovery and Resolution Planning Group within GBAM Finance is a specialized function that directs the submission of stress testing results and Recovery and Resolution Planning financial activities for GBAM
The GBAM Forecasting and Analytics team is looking for a Manager of the Global Markets Balance Sheet, Net Interest Income, and Recovery and Resolution Planning team. This team is comprised of financial analysts focused on delivering baseline, stress, exploratory, and other scenario analysis to senior leaders across the organization for Capital Planning, Regulatory submission (CCAR, ICAAP, etc...), Climate Risk, and internal stress testing analysis, as well as the Recovery and Resolution Planning regulatory submission.
This role offers high visibility and works with Senior Leaders in the Front Office, Business Finance Organization (BFO), Liquidity, Capital, Balance Sheet Management, and Risk. The candidate for this role will lead the team in the development and maintenance of a complex suite of processes, models, and deliveries with high priority / high impact. Specifically, this role will be responsible for the management of the forecasting production process, including the monitoring and establishment of end-to-end controls. In addition, this leader will be focused on developing talent, recruitment, and strategic alignment of resources and enhancements with the broader forecasting space.
This role requires an individual who can work on multiple, simultaneous deliverables and will focus on accurate calculation and clear communication of forecast results, with the following key responsibilities:
Management of the forecasting process for Global Markets Balance Sheet, Net Interest Income, and Recovery and Resolution Planning, including the execution of Stress Testing, RRP, and Corporate Planning deliverables
Stress Testing: CCAR, which is the Federal Reserve's annual assessment of the capital adequacy for the largest and most complex U.S. Banks. This review also includes quarterly review and challenge of stress testing results with Finance Executives, FLU Head, and other members of BAC senior management teams covering stress and exploratory scenarios. In addition, results are submitted to international regulatory bodies as well.
Recovery and Resolution Planning (RRP): RRP includes the annual Global Markets recovery options refresh; an annual review of impacts of existing options, review of potential new options, and review and challenge of recovery option results with senior stakeholders. In addition, the Global Markets resolution plan submission to the regulators, including the bi-annual submission of the 165(d) plan. This review also includes review and challenge with senior stakeholders.
Corporate Planning: Includes the forecasting of balance sheet and net interest income for corporate planning purposes, with key stakeholders in the financial planning and analysis group, the business finance office, and front-line units.
Lead in the development and maintenance of forecast models and methodologies that are able to consume a broad array of market and economic scenarios
Development and maintenance of end to end controls across the forecasting production process
Partner with technology and business partners to implement process enhancements and review forecast results
Bachelor's degree in Finance, Accounting, Business, or related field, Advanced Degree (MBA, Finance, Economics is a plus)
10+ years' experience of working in Financial Services industry
Excellent proficiency in Microsoft Office - particularly PowerPoint (executive presentations), Word (business, regulatory, technical, and model documentation), and Excel (metrics and data analysis)
Excellent communication skills, both written and verbal
Ability to work independently in a fast-paced environment while multitasking and meeting strict deadlines
Project management skills; able to quickly structure an approach and address new problems
Robust problem solving and analytical skills with diligence and superior attention to detail
Strong influencing, facilitation, challenging, and partnering skills
Experience in leading more junior analysts, either direct or via matrix-type leadership role
Familiarity with financial services regulatory environment and capital planning supervisory expectations
Familiarity with FICC and Equities products
Knowledge of forecasting methodologies and modeling techniques utilized for capital planning
Experience in process efficiency and automation; knowledge of database systems and technology either open-source (R, Python, etc...) or other emerging technology (Alteryx, Tableau, etc...)
Bank of America Commitment to Diversity and Inclusion:
We're a culture that:
Believes in responsible growth and has proven dedication to supporting the communities we serve
Provides continuous training and developmental opportunities to help people achieve their goals, whatever their background or experience
Believes diversity makes us stronger, so we can reflect, connect to and meet the diverse needs of our clients and customers around the world
Is committed to advancing our tools, technology and ways of working. We always put our clients first to meet their evolving needs
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.