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Senior BFC P&L Product Associate - EMEA Equities Client Solutions

Chester, , United Kingdom

Job Description:

Job Title: Senior BFC P&L Product Associate - EMEA Equities Client Solutions

LOB: The CFO Group

Corporate Title: Vice President

Location: Chester

Bank of America:

Bank of America Merrill Lynch provides comprehensive market, industry, product and advisory expertise to more than 140,000 businesses around the globe.  With unrivalled insight and access delivered by dedicated relationship teams, we connect clients with the right opportunities in more than 150 countries throughout Europe, the Middle East and Africa, Asia Pacific and the Americas.

Bank of America Merrill Lynch’s Europe, Middle East and Africa (EMEA) footprint comprises of 32 cities across 23 countries on three continents. The company is a long-established participant in the European markets, with a presence since 1922. Currently over 14,000 associates are based in EMEA.

Globally, Bank of America Merrill Lynch serves clients and customers in more than 150 countries and has relationships with 99 percent of the U.S. Fortune 500, nearly 96 percent of the Fortune Global 500 and 33 percent of the FTSE 100.

Overview of the Role:

This is an exciting opportunity for a Manager to join the EMEA & AMRS Equity Client Solutions Financial Management & Strategy Team based in Chester. This role involves the supervision of a team of 6 and responsibility for the execution of key CFO deliverables detailed below.

This role is best suited to a candidate with the ability to lead talent management and development as well as build influential relationships through significant exposure to the Front Office and extensive interaction with senior management and serves as a key contact for business.

In return, this role can offer excellent career progression opportunities, ongoing training and support and excellent work life balance.

Responsibilities:

Daily P&L & Balance Sheet – Reporting & Oversight:

  • Preparation of daily P&L commentary and substantiation based on market events

  • Review of material new deals

  • Calculation of valuation adjustments & reserves, with responsibility over corresponding substantiation and commentary

  • Review of changes to daily balance sheet & substantiation based on transactional activity

Core Financial Oversight Functions:

  • Independent price verification analysis and reporting (daily, weekly, monthly)

  • Weekly, Monthly & Quarterly revenue commentary

  • Maintaining valuation adjustment & reserve calculations such that they’re in-line with current policies

  • Balance sheet analysis (capital, liquidity, exposures etc.) including inventory aging, and reporting (Managerial and Regulatory)

  • 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 / recording of netting entries

  • Exercise of control oversight on behalf of the business

  • Participation in the New Product Review and Appropriation Request processes: modelling structures, 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

Planning & Reporting:

  • Act as key member and advisor to Line of Business Senior Management team, providing decision support analysis and advice on the optimisation of business activities with regards to accounting rules, regulatory issues and legal entity structures

  • Development and analysis of key performance metrics

  • Participation in the formulation of business strategy; plans; budgets; and forecasts

  • Provide regular updates, analytics and commentary on Line of Business performance

  • Manage the expense approval process for both deal-related and organisational expenses; provide expense analytics and assist the business with recovering deal-related expenses.

  • Provide regular updates, analytics and commentary on the GBAM’s externally disclosed quarterly performance

The Team:

The Equity Client Solutions Business, Finance Analysis team is comprised of 20 dedicated professionals, with associates based in both London and Chester.

The primary function of the Equity Business, Finance Management & Strategy team is to provide control & business advisory guidance. Key business partners are the Trading Desk, Global Valuation Group (GVG), Credit & Market risk, Regulatory Reporting and the RWA team.

The Equity Business, Finance Management & Strategy team supports the Equity Trading Desk; this comprises Equity Client Solutions, Equity Execution Services, Equity Synthetics and Securities Lending and Equity Asset Management Services. 

This role is to support the Equity Client Solutions business, which makes secondary markets in European equity derivatives (Single Stock and Index Options, Emerging Markets, Exotics products, Fund Derivatives and Corporate Derivatives).

Core Skills:

  • Degree educated or equivalent

  • Qualified CFA or Accountant (ACA, ACCA, CIMA or equivalent

  • Managerial Experience – role will require supervision of a Team of 6    

  • Previous CFO Banking experience 

  • Good working knowledge of accounting concepts

  • Good understanding of Product Control and IPV function

  • Knowledge of Derivative Exotic products

  • Proven Excel skills with the ability to build and use spreadsheets

  • Demonstrable risk identification and management Bank of America

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: Senior BFC P&L Product Associate - EMEA Equities Client Solutions

LOB: The CFO Group

Corporate Title: Vice President

Location: Chester

Bank of America:

Bank of America Merrill Lynch provides comprehensive market, industry, product and advisory expertise to more than 140,000 businesses around the globe.  With unrivalled insight and access delivered by dedicated relationship teams, we connect clients with the right opportunities in more than 150 countries throughout Europe, the Middle East and Africa, Asia Pacific and the Americas.

Bank of America Merrill Lynch’s Europe, Middle East and Africa (EMEA) footprint comprises of 32 cities across 23 countries on three continents. The company is a long-established participant in the European markets, with a presence since 1922. Currently over 14,000 associates are based in EMEA.

Globally, Bank of America Merrill Lynch serves clients and customers in more than 150 countries and has relationships with 99 percent of the U.S. Fortune 500, nearly 96 percent of the Fortune Global 500 and 33 percent of the FTSE 100.

Overview of the Role:

This is an exciting opportunity for a Manager to join the EMEA & AMRS Equity Client Solutions Financial Management & Strategy Team based in Chester. This role involves the supervision of a team of 6 and responsibility for the execution of key CFO deliverables detailed below.

This role is best suited to a candidate with the ability to lead talent management and development as well as build influential relationships through significant exposure to the Front Office and extensive interaction with senior management and serves as a key contact for business.

In return, this role can offer excellent career progression opportunities, ongoing training and support and excellent work life balance.

Responsibilities:

Daily P&L & Balance Sheet – Reporting & Oversight:

  • Preparation of daily P&L commentary and substantiation based on market events

  • Review of material new deals

  • Calculation of valuation adjustments & reserves, with responsibility over corresponding substantiation and commentary

  • Review of changes to daily balance sheet & substantiation based on transactional activity

Core Financial Oversight Functions:

  • Independent price verification analysis and reporting (daily, weekly, monthly)

  • Weekly, Monthly & Quarterly revenue commentary

  • Maintaining valuation adjustment & reserve calculations such that they’re in-line with current policies

  • Balance sheet analysis (capital, liquidity, exposures etc.) including inventory aging, and reporting (Managerial and Regulatory)

  • 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 / recording of netting entries

  • Exercise of control oversight on behalf of the business

  • Participation in the New Product Review and Appropriation Request processes: modelling structures, 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

Planning & Reporting:

  • Act as key member and advisor to Line of Business Senior Management team, providing decision support analysis and advice on the optimisation of business activities with regards to accounting rules, regulatory issues and legal entity structures

  • Development and analysis of key performance metrics

  • Participation in the formulation of business strategy; plans; budgets; and forecasts

  • Provide regular updates, analytics and commentary on Line of Business performance

  • Manage the expense approval process for both deal-related and organisational expenses; provide expense analytics and assist the business with recovering deal-related expenses.

  • Provide regular updates, analytics and commentary on the GBAM’s externally disclosed quarterly performance

The Team:

The Equity Client Solutions Business, Finance Analysis team is comprised of 20 dedicated professionals, with associates based in both London and Chester.

The primary function of the Equity Business, Finance Management & Strategy team is to provide control & business advisory guidance. Key business partners are the Trading Desk, Global Valuation Group (GVG), Credit & Market risk, Regulatory Reporting and the RWA team.

The Equity Business, Finance Management & Strategy team supports the Equity Trading Desk; this comprises Equity Client Solutions, Equity Execution Services, Equity Synthetics and Securities Lending and Equity Asset Management Services. 

This role is to support the Equity Client Solutions business, which makes secondary markets in European equity derivatives (Single Stock and Index Options, Emerging Markets, Exotics products, Fund Derivatives and Corporate Derivatives).

Core Skills:

  • Degree educated or equivalent

  • Qualified CFA or Accountant (ACA, ACCA, CIMA or equivalent

  • Managerial Experience – role will require supervision of a Team of 6    

  • Previous CFO Banking experience 

  • Good working knowledge of accounting concepts

  • Good understanding of Product Control and IPV function

  • Knowledge of Derivative Exotic products

  • Proven Excel skills with the ability to build and use spreadsheets

  • Demonstrable risk identification and management Bank of America

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-21084271

Band: H5

Manages People:

Manager:

Talent Acquisition Contact:

Hannah Scullion

Referral Bonus:

0

Street Address

Primary Location:
Herons Way, Chester, CH4 9FE