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BFC Product Associate

London, , United Kingdom

Job Description:

Job Title: BFC Product Associate  

LOB: The CFO Group                                         

Corporate Title: Vice President

Location: London

Here in our London office we are looking to recruit for a BFC Product Associate within the wider CFO Group. FICC Business Finance & Control (BF&C) forms part of the Global Banking and Markets CFO Group and provides valuation control and analysis, P&L substantiation and balance sheet oversight.

This role is supporting the EMEA Structured Rates business, which trades exotic interest rate and FX derivatives. The team consists of 9 associates in London, and a further 11 associates in our GBS locations.  The BF&C teams works closely with the EMEA Global Rates trading desks, the global valuations group (GVG), market risk, legal entity controllers and many other support functions


 

Responsibilities will include but not limited to:

  • Valuation control – monthly calculation and analysis of Independent Price Verification, valuation adjustments and Prudent Valuation AVAs, as well as contribution to quarterly disclosures such as FAS157 and CCAR scenario reporting

  • Working with the GVG group to develop valuation control methodologies and practices

  • Reviewing P&L and Valuation Control tasks performed by our GBS team

  • Maintaining and updating policies and procedures for valuation control processes

  • Assist in the streamlining and enhancement of all BF&C processes and become actively involved with system development ranging from technical enhancements and new product releases to automation of existing processes

  • Participation in the new product reviews

  • P&L commentaries including detailed analysis of material P&L events

  • Review and enhancement of P&L explain calculations and processes

  • Balance sheet commentaries for material movements

  • Engage with the Accounting Policy Group to implement appropriate accounting policies and procedures

  • Managing key valuation, accounting, legal entity, regulatory and P&L issues with the business

  • Contributing to governance process, operational error reporting and support of other internal control process, including SOX

Core Skills:

  • Successful applicants will have previous valuation control experience

  • Preferably you will be a qualified Accountant (ACA, ACCA, CIMA or equivalent) or a CFA with good working knowledge of accounting concepts

  • Have the ability to apply financial accounting and reporting expertise, along with financial analysis and reasoning skills

  • Be able to demonstrate accounting knowledge and financial acumen

Bank of America

Every day, across the globe, our employees bring a commitment to our purpose and to driving responsible growth by living our values: deliver together, act responsibly, realize the power of our people and trust the team. A key aspect of driving responsible growth is doing so in a sustainable manner, a critical pillar of which is being a great place to work for our teammates.

In line with these values, in EMEA we have 9 Employee Networks, a wide range of Sports & Social clubs, and other development and networking opportunities so that you can enjoy a range of experiences and connect with colleagues across the bank. We also offer exclusive discounts to some of the most iconic cultural experiences for you to enjoy in your spare time outside of work. Learn more about our benefits here.

Good conduct and sound judgment is crucial to our long term success. It’s important that all employees in the organisation understand the expected standards of conduct and how we manage conduct risk. Individual accountability and an ownership mind-set are the cornerstones of our Code of Conduct and are at the heart of managing risk well.

We are an equal opportunities employer, and ensure that no applicant is subject to less favourable treatment on the grounds of gender, gender identity, marital status, race, colour, nationality, ethnic or national origins, age, sexual orientation, socio-economic background, responsibilities for dependants, physical or mental disability. The Bank selects candidates for interview based on their skills, qualifications and experience.

We strive to ensure that our recruitment processes are accessible for all candidates and encourage any candidates to tell us about any adjustment requirements. As part of our standard hiring process to manage risk, please note background screening checks will be conducted on all hires before commencing employment.

Job Band:

H5

Shift: 

Hours Per Week:

35

Weekly Schedule:

Referral Bonus Amount:

0

Job Description:

Job Title: BFC Product Associate  

LOB: The CFO Group                                         

Corporate Title: Vice President

Location: London

Here in our London office we are looking to recruit for a BFC Product Associate within the wider CFO Group. FICC Business Finance & Control (BF&C) forms part of the Global Banking and Markets CFO Group and provides valuation control and analysis, P&L substantiation and balance sheet oversight.

This role is supporting the EMEA Structured Rates business, which trades exotic interest rate and FX derivatives. The team consists of 9 associates in London, and a further 11 associates in our GBS locations.  The BF&C teams works closely with the EMEA Global Rates trading desks, the global valuations group (GVG), market risk, legal entity controllers and many other support functions


 

Responsibilities will include but not limited to:

  • Valuation control – monthly calculation and analysis of Independent Price Verification, valuation adjustments and Prudent Valuation AVAs, as well as contribution to quarterly disclosures such as FAS157 and CCAR scenario reporting

  • Working with the GVG group to develop valuation control methodologies and practices

  • Reviewing P&L and Valuation Control tasks performed by our GBS team

  • Maintaining and updating policies and procedures for valuation control processes

  • Assist in the streamlining and enhancement of all BF&C processes and become actively involved with system development ranging from technical enhancements and new product releases to automation of existing processes

  • Participation in the new product reviews

  • P&L commentaries including detailed analysis of material P&L events

  • Review and enhancement of P&L explain calculations and processes

  • Balance sheet commentaries for material movements

  • Engage with the Accounting Policy Group to implement appropriate accounting policies and procedures

  • Managing key valuation, accounting, legal entity, regulatory and P&L issues with the business

  • Contributing to governance process, operational error reporting and support of other internal control process, including SOX

Core Skills:

  • Successful applicants will have previous valuation control experience

  • Preferably you will be a qualified Accountant (ACA, ACCA, CIMA or equivalent) or a CFA with good working knowledge of accounting concepts

  • Have the ability to apply financial accounting and reporting expertise, along with financial analysis and reasoning skills

  • Be able to demonstrate accounting knowledge and financial acumen

Bank of America

Every day, across the globe, our employees bring a commitment to our purpose and to driving responsible growth by living our values: deliver together, act responsibly, realize the power of our people and trust the team. A key aspect of driving responsible growth is doing so in a sustainable manner, a critical pillar of which is being a great place to work for our teammates.

In line with these values, in EMEA we have 9 Employee Networks, a wide range of Sports & Social clubs, and other development and networking opportunities so that you can enjoy a range of experiences and connect with colleagues across the bank. We also offer exclusive discounts to some of the most iconic cultural experiences for you to enjoy in your spare time outside of work. Learn more about our benefits here.

Good conduct and sound judgment is crucial to our long term success. It’s important that all employees in the organisation understand the expected standards of conduct and how we manage conduct risk. Individual accountability and an ownership mind-set are the cornerstones of our Code of Conduct and are at the heart of managing risk well.

We are an equal opportunities employer, and ensure that no applicant is subject to less favourable treatment on the grounds of gender, gender identity, marital status, race, colour, nationality, ethnic or national origins, age, sexual orientation, socio-economic background, responsibilities for dependants, physical or mental disability. The Bank selects candidates for interview based on their skills, qualifications and experience.

We strive to ensure that our recruitment processes are accessible for all candidates and encourage any candidates to tell us about any adjustment requirements. As part of our standard hiring process to manage risk, please note background screening checks will be conducted on all hires before commencing employment.

Learn more about this role

Full time

JR-21027664

Band: H5

Manages People:

Manager:

Talent Acquisition Contact:

Jillian Konig

Referral Bonus:

0

Street Address

Primary Location:
2 KING EDWARD ST, London, EC1A 1HQ