Bank of America Looking for Bfc Product Associate: Cfo Group, Gbam Finance, Commodities Finance at New York, NY, United States Full Time

Job Description

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Bank of America commitment to Diversity and Inclusion statement
We’re 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

Chief Financial Officer (CFO) Group is 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 Finance strives 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:
This role is to represent Finance in supporting the Global Commodities business in NY, which includes Oil, Power, Gas, and Index products. The role requires strong leadership skills – 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 GBAM Finance organization.
Main Responsibilities
Responsible for delivering the day-to-day Finance responsibilities for a specific business unit within Commodities, as well as profitability analysis, financial reporting, forecasting, and strategic and annual planning and implementation. Manages partner relationships. Assists management in the development and implementation of policies and procedures.
Role Details
Responsible for delivering the day-to-day Finance responsibilities for a specific business unit within Commodities, as well as profitability analysis, financial reporting, forecasting, and strategic and annual planning and implementation. Manages partner relationships. Assists management in the development and implementation of policies and procedures.
Responsibilities will include the following:
Daily P&L & Balance Sheet – Reporting & Oversight

• Review and challenge of official daily P&L explain and VaR backtesting
• Daily P&L reporting to local and regional management
• Oversight of trader estimate to official T+1 P&L variances at business unit level
• Preparation of daily P&L commentary and substantiation to market events
• Review and finance documentation of material new deals
• Review and approval of changes to valuation adjustments & reserves
• Review of changes to balance sheet & substantiation to transactional activity

Core Financial Oversight Functions

• Price verification (daily, weekly, monthly)
• Validation of appropriate application and use of models for books & records
• Monthly & quarterly revenue commentary
• Maintaining/updating valuation adjustment & reserve policies
• Balance sheet analysis (capital, liquidity, exposures, etc.) including inventory aging and its reporting
• Determining and implementing appropriate accounting policies & procedures (with Accounting Policy)
• Managing key accounting, legal entity, regulatory and P&L issues with the business
• Month end close, including Financial Disclosures and calculation and recording of netting entries
• Participation in the New Product Review and Appropriation Request processes: modeling structures and process scenarios, review, and control
• Contributing to Governance process, operational error reporting and support of other internal control process, including SOX

Required Skills

• Bachelor’s degree required
• 2+ years of Finance or Commodities experience
• Excel, VBA, and Microsoft office suite experience
• Ability to act independently

Job Band:
H5
Shift:
1st shift (United States of America)
Hours Per Week:
40
Weekly Schedule:
No
Referral Bonus Amount:
2000