SR. BFC Product Associate - AMRS Equity Derivatives
New York
**Job Description:**
**Bank of America commitment to Diversity and Inclusion statement**
Were 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) Groupis 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 Financestrives 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 Equity Derivatives Finance team in New York supports the Equity Derivatives Business. This business serves our corporate, financial, and individual investor customers by offering a wide variety of equity linked derivative products.You will be expected to lead and collaborate with the desk and other business partners, impose structure on complex issues and focus on delivering solutions in line with the long term strategic goals of the bank. An emphasis will be placed on extensive product knowledge as it relates to independent price testing of our derivative portfolio. More detailed characteristics you will be expected to display are described below.
**Responsibilities:**
Daily P&L & Balance Sheet Oversight
Complex derivative price testing (Call spreads, cliquets, vol/var swaps)
Production and/or review of official daily P&L explain and its provision for VaR backtesting
Responsibility for daily management adjustments to P&L
Daily P&L reporting to local and regional management
Review of material new deals
Review and approval of changes to valuation adjustments & reserves
Appropriately manages and mitigates operational risk
**Required Skills**
+ Bachelor Degree in Accounting/Finance
+ Product experience (equity derivatives specific)
+ Understanding of the Greeks
+ Experience with complex derivative price testing
+ 3-6 years of equity derivative product control
+ Strong financial analytics experience
+ 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 (Excel/Essbase)
**Desired Skills**
+ CPA/CFA, or other advanced certification
+ Experience with Bloomberg, or Hyperion/Essbase/SAP
+ Control focused, analytical, team oriented, comfortable with complex product
**Job Band:**
H5
**Shift:**
1st shift (United States of America)
**Hours Per Week:**
40
**Weekly Schedule:**
**Referral Bonus Amount:**
2000
**Job Description:**
**Bank of America commitment to Diversity and Inclusion statement**
Were 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) Groupis 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 Financestrives 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 Equity Derivatives Finance team in New York supports the Equity Derivatives Business. This business serves our corporate, financial, and individual investor customers by offering a wide variety of equity linked derivative products.You will be expected to lead and collaborate with the desk and other business partners, impose structure on complex issues and focus on delivering solutions in line with the long term strategic goals of the bank. An emphasis will be placed on extensive product knowledge as it relates to independent price testing of our derivative portfolio. More detailed characteristics you will be expected to display are described below.
**Responsibilities:**
Daily P&L & Balance Sheet Oversight
Complex derivative price testing (Call spreads, cliquets, vol/var swaps)
Production and/or review of official daily P&L explain and its provision for VaR backtesting
Responsibility for daily management adjustments to P&L
Daily P&L reporting to local and regional management
Review of material new deals
Review and approval of changes to valuation adjustments & reserves
Appropriately manages and mitigates operational risk
**Required Skills**
+ Bachelor Degree in Accounting/Finance
+ Product experience (equity derivatives specific)
+ Understanding of the Greeks
+ Experience with complex derivative price testing
+ 3-6 years of equity derivative product control
+ Strong financial analytics experience
+ 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 (Excel/Essbase)
**Desired Skills**
+ CPA/CFA, or other advanced certification
+ Experience with Bloomberg, or Hyperion/Essbase/SAP
+ Control focused, analytical, team oriented, comfortable with complex product
**Shift:**
1st shift (United States of America)
**Hours Per Week:**
40
Learn more about this role
Full time
JR-22057144
Band: H5
Manages People: No
Travel: No
Manager:
Talent Acquisition Contact:
Amy FitzGerald [C]
Referral Bonus:
2000
Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity and affirmative action, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other bases such as medical condition, marital status or any other factor that is irrelevant to the performance of our teammates.
To view the "EEO is the Law" poster, CLICK HERE (https://www.dol.gov/ofccp/regs/compliance/posters/pdf/eeopost.pdf) .
To view the "EEO is the Law" Supplement, CLICK HERE (https://www.dol.gov/ofccp/regs/compliance/posters/pdf/OFCCP\_EEO\_Supplement\_Final\_JRF\_QA\_508c.pdf) .
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To view Bank of Americas Drug-free workplace and alcohol policy, CLICK HERE .
