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BFC Product Associate

London, , United Kingdom

Job Description:

Job Title: BFC Product Associate

LOB: The CFO Group / EMEA Distressed BFC

Corporate Title: Assistant Vice President

Location: London  

The CFO Group are currently recruiting for a BFC Product Associate to join the EMEA Distressed BFC team in London. The role has responsibility for a variety of financial controls & accounting/regulatory reporting requirements. These responsibilities are not temporary in nature, but are core requirements of the bank’s financial & regulatory oversight regimes.

The role involves significant interaction with other Finance teams (Global Valuations Group, Accounting Policy, Legal Entity Control, Regulatory Reporting, etc) but also includes significant involvement with Front Office and various other support functions (Chief Operating Officer, Market Risk, Trade Support, etc).

Overview of the Role:

  • Execution of core balance sheet and P&L controls, including attribution, substantiation & reconciliation, across financial products receiving both Fair Value & Non-FV accounting

  • Financial & regulatory reporting based on both consolidated (i.e. – US GAAP) & local (i.e. – IFRS) accounting & regulatory regimes

  • Valuation Control execution & documentation, including Independent Price Verification, Fair Value Hierarchy categorisation & Prudent Valuation reporting

  • Forecasting and recovery and resolution planning

The Team:

The EMEA & CEEMEA Distressed business primarily trades distressed loans in the secondary market. As part of the Global Credit line of business within FICC the balance sheet also holds bonds, derivatives and equity (both public and private).

The EMEA Distressed Business Finance & Control (BFC) team is made up of 15 associates, primarily located in Chester UK, and manages a combination of controllership & business partnering responsibilities. Primary responsibilities are focused on ensuring the accuracy of the business’ financial & regulatory statements, which includes the application of price testing controls and analysis. Additionally, the role utilises expertise in the area of financial & regulatory matters to provide advice to help grow the business.

Core Skills:

  • Confident accounting knowledge is critical, ideally with comfort in both financial accounting and regulatory reporting concepts, with excellent attention to detail & emphasis on documentation

  • Exposure to credit based fixed income financial products (bonds, loans, credit default swaps, etc)

  • Proven organisational skills required to effectively to manage competing deadlines, often in a fluid environment, alongside pro-active management escalation & engagement with teammates to address ad-hoc issues

  • Control focus and able to improve processes

  • Comfortable using new technology systems

  • University degree required

  • Accountancy qualifications (ACA, ACCA or CIMA) preferred

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 / EMEA Distressed BFC

Corporate Title: Assistant Vice President

Location: London  

The CFO Group are currently recruiting for a BFC Product Associate to join the EMEA Distressed BFC team in London. The role has responsibility for a variety of financial controls & accounting/regulatory reporting requirements. These responsibilities are not temporary in nature, but are core requirements of the bank’s financial & regulatory oversight regimes.

The role involves significant interaction with other Finance teams (Global Valuations Group, Accounting Policy, Legal Entity Control, Regulatory Reporting, etc) but also includes significant involvement with Front Office and various other support functions (Chief Operating Officer, Market Risk, Trade Support, etc).

Overview of the Role:

  • Execution of core balance sheet and P&L controls, including attribution, substantiation & reconciliation, across financial products receiving both Fair Value & Non-FV accounting

  • Financial & regulatory reporting based on both consolidated (i.e. – US GAAP) & local (i.e. – IFRS) accounting & regulatory regimes

  • Valuation Control execution & documentation, including Independent Price Verification, Fair Value Hierarchy categorisation & Prudent Valuation reporting

  • Forecasting and recovery and resolution planning

The Team:

The EMEA & CEEMEA Distressed business primarily trades distressed loans in the secondary market. As part of the Global Credit line of business within FICC the balance sheet also holds bonds, derivatives and equity (both public and private).

The EMEA Distressed Business Finance & Control (BFC) team is made up of 15 associates, primarily located in Chester UK, and manages a combination of controllership & business partnering responsibilities. Primary responsibilities are focused on ensuring the accuracy of the business’ financial & regulatory statements, which includes the application of price testing controls and analysis. Additionally, the role utilises expertise in the area of financial & regulatory matters to provide advice to help grow the business.

Core Skills:

  • Confident accounting knowledge is critical, ideally with comfort in both financial accounting and regulatory reporting concepts, with excellent attention to detail & emphasis on documentation

  • Exposure to credit based fixed income financial products (bonds, loans, credit default swaps, etc)

  • Proven organisational skills required to effectively to manage competing deadlines, often in a fluid environment, alongside pro-active management escalation & engagement with teammates to address ad-hoc issues

  • Control focus and able to improve processes

  • Comfortable using new technology systems

  • University degree required

  • Accountancy qualifications (ACA, ACCA or CIMA) preferred

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-21055937

Band: H5

Manages People:

Manager:

Talent Acquisition Contact:

Jillian Konig

Referral Bonus:

0

Street Address

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