Global Credit BFC Product Associate
Bank of America
- New York City, NY
- Permanent
- Full-time
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.Team Description:The Global Credit & Special Situations (GCSS) Finance team is part of the CFO organization. The primary focus of our team is to support the GCSS Distressed Trading business through the implementation and execution of key control processes including legal financial books and records, valuations control, regulatory matters, forecasting, P&L explain, and balance sheet analysis. The desk trades in a range of products including Loans, Bonds, Equities, CDS, Interest Rate Swaps, Aviation Leases and Trade Claims. Key priorities for our team include proactive execution of controls, accurate reporting and analysis of financial results and forging strong relationships with business partners to assist in decision making.Areas of responsibility include:Financial reporting and disclosuresGeneral ledger close and reconciliationsManagement reporting and analysisRegulatory capital disclosuresPrice TestingSector analysisStress Test and ForecastingProcess analysis, documentation of policies and procedures and evidencing of results are also of primary importance in this role. Trading desk support, including interpretation of accounting policies and ad hoc reporting, is another critical requirement. Throughout the tenure of the role, the teammate should gain exposure and acumen in the Global Markets/FICC area of the organization and develop or improve the following skills: GAAP (with a focus on Fixed Income), Management and Regulatory/SEC reporting, as well as written and oral communication skills.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 strategiesPerforms month-end close and financial reporting, critical testing and calculations, and periodic analysisAssists 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 typePartners closely with the front office, Operations, and Technology to support defining business finance processes and implementing related technology solutionsAnalyzes regulatory matters, such as the Comprehensive Capital Analysis and Review (CCAR) and Recovery and Resolutions Plans (RRP), to assess risk modeling practices within the bankSkills:Analytical ThinkingAttention to DetailFinancial AccountingFinancial ManagementReportingBusiness AnalyticsCritical ThinkingData Quality ManagementFinancial ProcessingPrice Verification and ValuationsRequired Qualifications:Bachelor Degree (Accounting/Finance preferred) - or related work experience1-4 years financial industry/banking experienceStrong financial analytics experienceAdvanced experience/skills with Excel and complex spreadsheetsCandidate must be able to work both independently and as team memberStrong communication and presentation skillsStrong problem solving and analytical abilitiesShift: 1st shift (United States of America)Hours Per Week: 40