Senior Business Financial Control Product Associate

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 a diverse and 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.

At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

Job Description:
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 BFC Product Associate will be responsible for supporting the end-to-end financial reporting processes for the Fixed Income, Currencies, and Commodities (FICC) business within the CFO organization. The role will involve daily Profit and Loss (P&L) reporting, balance sheet analysis, regulatory reporting, and risk management. You will collaborate with senior management, the front office, and various stakeholders to ensure accurate financial disclosures and regulatory compliance.

The candidate will also be responsible for identifying and mitigating operational risks, streamlining processes, and leading key initiatives to enhance the financial reporting framework. The role will require a high degree of accuracy, attention to detail, and the ability to work in a fast-paced, dynamic environment.

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

Required Qualifications:

• Minimum of 3 years of experience in financial analysis, product control, and risk management

• Strong Excel skills, with experience in analyzing complex financial data

• Knowledge of financial products such as loans, bonds, and derivatives

• Understanding of GAAP, risk mitigation techniques, and regulatory requirements

• Excellent communication, problem-solving, and presentation skills.

• Ability to work independently and as part of a team in a fast-paced environment

Desired Qualifications:

• Bachelor’s Degree in Accounting or Finance

• CPA certification

• Prior experience in financial reporting for a trading business or within a CFO organization

• Familiarity with FICC products and trading desk operations

Skills:

• Analytical Thinking

• Attention to Detail

• Financial Accounting

• Financial Management

• Reporting

• Business Analytics

• Data Quality Management

• Financial Processing