Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services.
We are committed to attracting and retaining top talent across the globe to ensure our continued success. Along with taking care of our customers, we want to be the best place for people to work and aim at creating a work environment where all employees have the opportunity to achieve their goals.
We are a part of the Global Business Services which delivers technology and operations capabilities to all Bank of America lines of business (LOB) and enterprise functions.
Our employees help our customers and clients at every stage of their financial lives, helping them connect to what matters most. This purpose defines and unites us. Every day, we are focused on delivering value, convenience, expertise and innovation for individuals, businesses and institutional investors we serve worldwide.
* BA Continuum is a nonbank subsidiary of Bank of America, part of Global Business Services in the bank.
Business Finance and Control (BFC) sits within the CFO Org and is aligned to support Global Markets Business. BFC is responsible for the production and independent validation of Global Markets' profit and loss and balance sheet. In this regard, BFC will ensure, inter alia, that accounting policies are correctly and consistently applied, and that trading portfolios are appropriately valued.
CPM BFC includes all counterparty related valuation adjustments (CVA, FVA etc collective acronym - XVAs) teams, Central Funding & Structured Notes Desk P&L (CFD) and Collateral P&L (CT&O) team. CPM BFC teams are responsible for assisting in Analysis & reporting of XVAs, CFD & Collateral P&L and ensuring integrity, completeness and accuracy of P&L. The Team works closely with front office, middle office, traders and valuation control teams to drive the control agenda across the business.
We are looking to recruit an individual to work in the P&L production, Independent Price Verification etc. area covering Credit Valuation Adjustment (CVA), Funding Valuation Adjustment (FVA) trading desks. CVA, FVA calculations are based on complex pricing models and require simulations. An in-depth understanding on derivative products, their risk behavior, market data and pricing is required. The candidate will therefore have considerable interaction with the respective Front Office, Quantitative Services, and Finance and Trade Capture teams so good analytical, communication and time management skills are an essential requirement for this job.
• To ensure accurate production and delivery of P&L to front office, providing a high standard of analysis and explanation around any issues faced and daily/monthly/quarterly revenue drivers.
• Assist, Challenge, supervise, Execute monthly and month end controls such as Independent Price Verification, Estimate to Actual variances
• Own set of books/cost center and Business Units
• Develop and implement new processes, systems and participates in strategic planning.
• Continually review roles and responsibilities with Understanding of regulatory and operational risk associated with core processes that forms part of Business Finance and Control.
• Manage, coach and mentor teams comprising of SMEs
• Create a culture of excellence by consistently raising standard.
• Promote continuous learning and development
• Maintain good relationship with stakeholders
Qualified Chartered Accountant or Bachelors/Master’s Degree in Finance or Engineering. MBA would be plus
Certifications If Any
Certifications such as CFA, FRM, CQF are plus
10 - 14 Years
o Should demonstrate product control process understanding
o Should have good understanding of financial markets, Derivatives & structured notes-their hedging, funding, credit risk etc
o Strong communication & negotiation skills across all levels of seniority including especially with the Trading desk
o Proven analytical skills including data reconciliation and interpretation
o Strong attention to detail and accuracy with an ability to notice minor discrepancies / issues
o Strong people management skills
o Strong assertiveness, listening, influencing and diplomacy skills.
o Encourages and listens to the contributions of others in order to reach the right decision
o Makes sure there is a frank and open exchange of ideas among team members
o Makes tough decisions when they are needed and acts quickly in getting things done
o Demonstrates the courage to express or defend unpopular decisions
o Organizes and runs effective meetings and workshops
o Communicates clearly and concisely, verbally and in writing, at all levels within the organization
o Must be proactive and be a highly-motivated self-starter.
o Effective communication skills with English proficiency
o Proficiency in MS Office Suite; expert knowledge of Excel, Word, PowerPoint
o Comfortable working under tight deadlines
o Inherent sense of principles of control through experience and sound judgment
1 PM to 10 PM
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