GFX Sr. Business Financial Control Product Associate (CFO)

Finance Analyst

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day. Being a Great Place to Work is core to how we drive Responsible Growth. This includes our commitment to being an inclusive workplace, attracting and developing exceptional talent, supporting our teammates' physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve. Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations. At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

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.

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.

The GFX & LCT trading finance team is part of the GBAM CFO organization. The GFX & LCT trading desk provides clients with market-making services in foreign exchange ("FX") spot, swaps, forwards and options in G10 and emerging market currency pairs. In emerging markets, products offered to clients also include local currency bonds and interest rate derivatives. Client execution services include both voice and electronic execution, with trading operations in seventeen countries and dealing centers located in New York, London, Hong Kong, Singapore.

Responsibilities:

• Prepares and analyzes balance sheets and Profit and Loss (P&L) reports and validates postings and balances for a product aligned to a Line of Business (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
• Analyzes regulatory matters, such as the Comprehensive Capital Analysis and Review (CCAR) and Recovery and Resolutions Plans (RRP), to assess risk modeling practices within the bank
• Oversight on the official daily P&L explain, P&L substantiation to market events, significant transaction review and its provision for VaR backtesting and other downstream

• Monthly Independent Price verification on both Derivatives and securities positions. Have a basic understanding and knowledge of financial models,
• Calculation of the Valuation adjustment – Validation of appropriate application and use of models for books & records.
• Maintaining/updating valuation adjustment & IPV Desk Level Procedures (DLP)
• Preparation monthly & quarterly revenue and balance sheet commentary to senior managers and regulators
• Regulatory capital disclosures, Price Testing, Sector analysis, Stress Test and Forecasting.
• Volcker/Capital related validation activities such as Volcker balance sheet review, validation of Volcker and Capital attributes for books to ensure compliance with enterprise guidelines
• Partner with Trading Desk, Trade Support, Operations, ECM and other partners on business support including new product review, accounting assessment, issue resolution
• Coordination of the monthly close process and quarterly financial reporting requirements
• Working on initiatives to simplify/automate manual processes

Required Qualifications:

• 5+ years hands on experience in Product Control or Finance group
• BS/BA Degree required (Finance, Accounting preferred)
• Global Markets experience
• Global Rates market knowledge – familiarity with a broad range of asset classes
• Derivatives product and valuation knowledge – consisting of technical expertise of models used to reprice complex transactions
• Advanced experience skills with Excel and complex spreadsheets
• Control focused, analytical, team oriented, comfortable with complex products
• Excellent organizational, communication, and relationship management skill
• Proven analytical skills including data reconciliation and interpretation.
• Ability to identify and deliver process improvements.
• Good business partnering skills

Desired Qualifications:

• Fixed income or derivative experience
• Inquisitive, willing to challenge the status quo and strive to improve processes

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

Shift: 1st shift (United States of America)

Hours Per Week: 40

Pay range $100,000.00 - $154,100.00 annualized salary, offers to be determined based on experience, education and skill set. Discretionary incentive eligible This role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company. Benefits This role is currently benefits eligible. We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.