Sr. BFC Product Associate - CPM - Global Banking and Markets
New York, 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 Counterparty Portfolio Management (CPM) finance team is part of the GBAM CFO organization. The CPM desk manages XVA on Global Markets derivative portfolio, this consist of CVA (counterparty credit), DVA (own credit), FVA (funding), Risk Optimization, Collateral Trade Optimization, and any other related future pricing components on the derivative portfolio.
The primary focus of our team is to
1) Review valuations and perform price testing
2) Review and analyze the P&L and risk drivers
3) Review the month end close and perform quarterly disclosures
4) Determine revenue recognition and new deal analysis along with interacting with other finance groups to understand XVA impact on new deal
Specific description:
The candidate will work within the CPM Business Finance & Control team and will need to build a strong relationship with the business and other support functions. Strong communication skills, and a technical background in Global markets trading businesses, preferably XVA related.
The role will include the following:
+ Oversight for the production of Daily, Weekly and Monthly P&L reports
+ Oversight on the official daily P&L explain and its provision for VaR backtesting.
+ Regulatory capital disclosures, Price Testing, Stress Test and Forecasting.
+ Production of monthly price testing/valuation reports.
+ Participate in the monthly and quarterly close process
+ Maintaining/updating valuation adjustment & IPV Desk Level Procedures (DLP)
+ Responsible for being audit compliant and meet the regulatory requirements.
+ Partner closely with Front Office, Operations and Technology to define business processes and implement related technology solutions.
+ Candidate will be involved with complex issues that impact multiple lines of business.
+ Communication skills will be heavily utilized through working with the many stakeholders involved with implementation
+ Risk and Issue identification, Management, and resolution.
+ Bachelor Degree in Accounting/Finance
Required Skills
+ Minimum of 3-7 years financial industry/banking experience - preferred product control experience with derivatives products.
+ Strong financial analytics experience (product control/financial analysis exp)
+ 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)
+ Ability to manage multiple priorities and meet tight deadlines
Desired Skills
+ MBA, CPA, CFA, or other advanced certification
+ Experience with Oracle, SAP
+ Control focused, analytical, team oriented, comfortable with complex products
**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 Counterparty Portfolio Management (CPM) finance team is part of the GBAM CFO organization. The CPM desk manages XVA on Global Markets derivative portfolio, this consist of CVA (counterparty credit), DVA (own credit), FVA (funding), Risk Optimization, Collateral Trade Optimization, and any other related future pricing components on the derivative portfolio.
The primary focus of our team is to
1) Review valuations and perform price testing
2) Review and analyze the P&L and risk drivers
3) Review the month end close and perform quarterly disclosures
4) Determine revenue recognition and new deal analysis along with interacting with other finance groups to understand XVA impact on new deal
Specific description:
The candidate will work within the CPM Business Finance & Control team and will need to build a strong relationship with the business and other support functions. Strong communication skills, and a technical background in Global markets trading businesses, preferably XVA related.
The role will include the following:
+ Oversight for the production of Daily, Weekly and Monthly P&L reports
+ Oversight on the official daily P&L explain and its provision for VaR backtesting.
+ Regulatory capital disclosures, Price Testing, Stress Test and Forecasting.
+ Production of monthly price testing/valuation reports.
+ Participate in the monthly and quarterly close process
+ Maintaining/updating valuation adjustment & IPV Desk Level Procedures (DLP)
+ Responsible for being audit compliant and meet the regulatory requirements.
+ Partner closely with Front Office, Operations and Technology to define business processes and implement related technology solutions.
+ Candidate will be involved with complex issues that impact multiple lines of business.
+ Communication skills will be heavily utilized through working with the many stakeholders involved with implementation
+ Risk and Issue identification, Management, and resolution.
+ Bachelor Degree in Accounting/Finance
Required Skills
+ Minimum of 3-7 years financial industry/banking experience - preferred product control experience with derivatives products.
+ Strong financial analytics experience (product control/financial analysis exp)
+ 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)
+ Ability to manage multiple priorities and meet tight deadlines
Desired Skills
+ MBA, CPA, CFA, or other advanced certification
+ Experience with Oracle, SAP
+ Control focused, analytical, team oriented, comfortable with complex products
**Shift:**
1st shift (United States of America)
**Hours Per Week:**
40
Learn more about this role
Full time
JR-22071594
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) .
Bank of America aims to create a workplace free from the dangers and resulting consequences of illegal and illicit drug use and alcohol abuse. Our Drug-Free Workplace and Alcohol Policy (Policy) establishes requirements to prevent the presence or use of illegal or illicit drugs or unauthorized alcohol on Bank of America premises and to provide a safe work environment.
To view Bank of Americas Drug-free workplace and alcohol policy, CLICK HERE .
