Specific Job Description
Muni Finance Group support the Municipal Markets and Banking business and are responsible for the control infrastructure for the broad arrange of products (Municipal bonds, Securitizations, Structured Municipal Financing, Credit/Rates Derivatives and Banking Products). Senior Product Associate would be responsible for controls and business partnering as it relates to reporting of revenue, balance sheet, expenses, valuation and financial/regulatory disclosures.
Responsible for directing the day-to-day finance activities for a business unit or associate area. Activities include strategic and annual planning and implementation, profitability analysis, forecasting and financial reporting. Manages partner relationships and associates. In addition to supervisory / administrative duties, individuals are actively involved in the execution of processes. Assists management in the development and implementation of policies and procedures.
This role is to represent Finance in supporting the Municipal Banking and Markets. As BFC Senior Product Associate, you will be expected to lead and inspire team members, 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.
Responsibilities will include the following:
Daily P&L & Balance Sheet – Reporting & Oversight
Production and/or review of official daily P&L explain and its provision for VaR backtesting
Approval of daily sub-ledger P&L generated by Middle Office for reporting into Greensheets
Responsibility for daily management adjustments to P&L
Daily P&L reporting to local and regional management
Oversight of trader estimate to official T+1 P&L variances as business unit level
Preparation of daily P&L commentary and substantiation to market events
Review of material new deals
Review and approval of changes to valuation adjustments & reserves
Review of changes to daily 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
Exercise of control oversight on behalf of the business
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
Provision of financial expertise in the design, build, testing, and implementation of new Technology Platforms and Systems
Bachelor's degree required
5+ years of finance or fixed income products experience
Excel, VBA, and Microsoft office suite experience
Ability to act independently
Strong understanding of fixed income products or structured products
Strong Excel skills. VBA and/or SQL skills a plus.
Must be able to fully understand the impact of current and future IT developments on existing P&L processes and play a role in their implementation.
Is able to see the big picture, to identify non-optimal processes, to propose solutions and to implement them within timelines and cost constraints.
Ensures effective planning and execution of client deliverables on a timely basis
Shift:1st shift (United States of America)
Hours Per Week:40
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