Business Finance Control Product Associate-Global Banking & Markets- Global Rates
Bank of America
Location: New York, New York
Internal Number: 21078788
We're a culture that:
* Believes in responsible growth and has a 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.
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 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.
Business Finance Officers/Control (BFO/BFC) 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
Team / Overview :
The AMRS Rates Team in New York supports the Interest Rates Business. This business serves our corporate, financial, and individual investor customers by offering a wide variety of interest rate products. The Linear Rates desk consists of US Swaps, Governments and Agencies and Inflation Desk. The Linear Rates business services clients' needs to hedge interest rate exposure. The Desk routinely stands ready to purchase and sell the financial instruments on both sides of the market. The Non-Linear Rates desk consists of a US Volatility Trading Desk, an Inflation Desk and a Structured Notes Desk. These desks provide clients access to various derivatives options and structured products for enhanced yield/capital growth performance through higher risk structured transactions in either OTC contracts or securitized products.
With demonstrated success, you'll have the opportunity to advance in the BFC Product Role, with opportunities available at the Sr. Associate, Lead, and Sr. Lead level, to promote career advancement within the GBAM Finance organization.
Utilizes thorough knowledge and understanding of product, process and inherent risk. Responsible for preparing analysis and performing critical testing and calculations in support of Sub-LOB. Produces financial reporting and disclosures, assists in production of regulatory matters analysis including CCAR and RRP. 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.
Substantiate the official daily P&L explain and its provision for VaR backtesting. Oversight of trader T0 flashes and estimate to official T+1 P&L variances as business unit level.
Preparation monthly & quarterly revenue commentary to senior manager and regulator
Controller for the global rates management VTD
Perform Independent Price Verification of vanilla and complex financial instruments
Review of material new deals
Review of changes to daily balance sheet & substantiation to transactional activity.
Daily interaction with the Front Desk Trading desk and collaboration with other support teams
Balance sheet analysis (capital, liquidity, exposures etc) including inventory aging and its reporting.
Month end close, including Financial Disclosures and calculation and recording of netting entries
Quarterly fair value disclosure
BS/BA Degree (Finance, Accounting preferred)
Control focus, strong financial analytics experience, comfortable with complex products
Strong communication and presentation skills
Good business partnering skills
2+ years of professional work experience within the financial services industry
Advanced experience skills with Excel and complex spreadsheets
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.