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Assistant Vice President, Business Finance and Control

Tokyo, Japan;

Job Description:

About Bank of America Merrill Lynch:

Our purpose as a firm is to make financial lives better, through the power of every connection. Across the world, we partner with leading corporate and institutional investors through our offices in more than 40 countries. In the U.S alone, we serve almost all Fortune 500 companies and approximately 59 million consumers and small-business customers. We provide a full suite of financial products and services, from banking and investments to asset and risk management. We cover a broad range of asset classes, making us a global leader in corporate and investment banking, sales and trading.    


Connecting Asia Pacific to the World

Our Asia Pacific team is spread across 23 offices in 12 markets. We are focused on connecting Asia to the world and the world to Asia, using our global expertise to ensure success is shared between us, our clients and our communities. Our regional footprint covers 12 currencies, more than a dozen languages and five time zones, placing us firmly among the region’s leading financial services companies.

Bank of America Merrill Lynch is committed to attracting, recruiting and retaining top diverse talent from across the globe. Our diversity and inclusion mission is to actively promote an inclusive work environment where all employees have the opportunity to achieve personal success and contribute to the growth of our business. Each of our global Employee Networks bring together employees, create dialogue and awareness in support of our Diversity and Inclusion mission.

    Bank of America Merrill Lynch is an equal opportunities employer.

    Position Description

    The APAC FICC team carries out the Business Finance and Control (BFC) function in support of the regional LOB trading businesses.

    The BFC core responsibilities include but not limited to the following functions:

    • P&L review, analysis, commentary and oversight
    • Balance sheet control
    • Oversight of month-end closing
    • New transaction review and substantiation as part of the due diligence process
    • Independent price verification
    • Valuation adjustment calculations
    • Management reporting (revenue and expense analysis)
    • Ad hoc and value added business support; management of scare resources
    • Financial disclosure reporting
    • Projects driving operational excellence including the deployment of emerging technologies

    Our vision is to be credible business advisors, flawless at executing controls, and relentlessly focusing on operational excellence.

    The business is constantly evolving and moving into new markets and products. Business Finance & Control plays a key role in enabling business activity in a robust control environment. You will be actively encouraged to develop close working relationships with the business and other key stakeholders i.e. Market Risk, Legal Entity Controllers, Accounting Policy, Operations, Audit, Tax, Treasury, Technology.

    You will be expected to be a team player, 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. Products covered will be Interest Rates (securities and derivatives). More detailed characteristics you will be expected to display are described below.

    Key Responsibilities

    P&L Analysis

    • Decompose P&L in detail including escalation of material unexplained variances
    • Provide explanations for significant P&L drivers e.g. market changes, new deals, book remarks, valuation adjustments etc.
    • Monitor month-end financial legal close, including P&L and balance sheet as well as management close.

    Balance Sheet Analysis

    • Monitor daily balance sheet to ensure accurate and timely reporting including analytical review on significant movements and balances.
    • Decompose balance sheet for the business, identifying opportunities to optimize usage.
    • Complete month-end balance sheet reporting by internal deadlines, explaining movements or variances.
    • Ensure all balance sheet accounts are reconciled, escalating variances.
    • Validate allocated/attributed balances as well as internal funding charges.

    Operational Effectiveness

    • Drive team projects, including automation and process enhancement.
    • Ensure all front to back breaks are understood, and escalated in accordance with standards.
    • Ensure a minimum number of manual, standalone processes are maintained. Where tactically used, ensuring a strategic solution is being sought.
    • Record and analyze operational loss events.

    New Product Development

    • Complete New Product Review for new businesses / products proposed by your trading desk, and implement systems and process changes / improvements as required.

    Price Verification and Valuation adjustment

    • Perform independent price testing.
    • Calculate/validate valuation adjustments.
    • Work with the business and Global Valuation Group on valuation related issues.
    • Monitor and analyze material valuation adjustment movements.

    Business Partnering

    • Advise on various elements such as accounting, funding and capital constraints that impact business performance.
    • Regular meetings with the desk including independent price review, escalation of issues and tracking closure.

    Key Requirements


    • Must have Bachelor’s degree.
    • Over 5 years work experience with market related products.
    • Good working knowledge of accounting concepts.
    • Control focused, analytical, team oriented, attention to detail.
    • Self-driven with proven relationship management experiences.
    • Comfortable working in a fast paced deadline driven environment.
    • Strong communication skills both verbal and written.
    • Japanese spoken skills would be desired to interact with internal and external stakeholders
    • Strong Excel skills with ability to streamline/eliminate spreadsheet usage.


    • CPA or CFA is preferred but not required.
    • Securities and derivatives product understanding.
    • Valuation experience preferred.

    Learn more about this role

    Full time


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