Business Financial Control Product Associate- Commodities, CFO Group
Bank of America
Job Description:
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!
Job Description:
Team / Overview:
This role is to represent Finance in supporting the Global Commodities business in NY, which includes Oil, Power, Gas, and Index products. Candidates will be expected to influence team members, collaborate with the desk and other business partners, create structure for complex issues and focus on delivering solutions in line with the long term strategic goals of the bank. 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 Finance organization.
This job is responsible for supporting 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 knowledge of product(s), processes, and inherent risks for a product, business or function to analyze and substantiate Profit and Loss (P&L) attributes and balance sheets, assist in production of regulatory matters analysis, and perform critical testing and calculations.
Responsibilities:
- Supports with preparing and analyzing 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
- Performs valuations controls including Independent Price Verification (IPV), liquidity valuation adjustments (LVA), and related policy reviews
- Performs month-end close and financial reporting, critical testing and calculations, and periodic analysis
- Assists in the development of strategic and annual planning efforts and implementations and performs profitability analysis, forecasting, and financial reporting for a product or general ledger account type
- Partners closely with the front office, Operations, and Technology to support defining business finance processes and implementing related technology solutions
- 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
Responsibilities:
- Supports with preparing and analyzing 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
- Performs valuations controls including Independent Price Verification (IPV), liquidity valuation adjustments (LVA), and related policy reviews
- Performs month-end close and financial reporting, critical testing and calculations, and periodic analysis
- Assists in the development of strategic and annual planning efforts and implementations and performs profitability analysis, forecasting, and financial reporting for a product or general ledger account type
- Partners closely with the front office, Operations, and Technology to support defining business finance processes and implementing related technology solutions
- 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
Required Qualifications:
- Minimum 2 years of experience in financial industry/banking experience and/or commodities trading experience
- Strong financial analytics experience
- Experience to review, debate and challenge
- Advanced experience/skills with Excel and complex spreadsheets
- Candidate must be able to work both independently and as team member
- Strong communication and presentation skills
- Strong problem solving and analytical abilities
Desired Qualifications:
- Bachelor Degree in Accounting/Finance
Skills:
- Analytical Thinking
- Attention to Detail
- Financial Accounting
- Financial Management
- Reporting
- Business Analytics
- Critical Thinking
- Data Quality Management
- Financial Processing
- Price Verification and Valuation
- Business Acumen
- Influence
- Prioritization
- Problem Solving
- Scenario Planning and Analysis
Shift:
1st shift (United States of America)Hours Per Week:
40