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Business Finance & Control Product Associate-Chief Financial Officer- Global Banking & Markets- XVA Finance

New York, New York

Job Description:

We’re a culture that:

• Believes in responsible growth and has a proven dedication to supporting the communities we serve.
• Provides continuous training and developmental opportunities to help people achieve their goals, whatever their background or experience.
• Believes diversity makes us stronger, so we can reflect, connect to and meet the diverse needs of our clients and customers around the world.
• Is committed to advancing our tools, technology and ways of working. We always put our clients first to meet their evolving needs

The Chief Financial Officer (CFO) Group is responsible for the overall financial management of our company. This includes accounting, financial and regulatory reporting, balance sheet management, financial planning and analysis, treasury, investor relations, corporate investments and tax

Global Banking and Markets Finance strives to be a valued business partner to the company's trading, corporate and institutional banking businesses. Our first priority is to operate a series of key control processes to ensure the integrity of GBAM's financial results. Then we build on these activities to offer performance insight to business leaders. The assets of Finance are its people.

Business Finance Officers/Control (BFO/BFC) Partners directly with our Front Office LOBs providing strategic guidance and insight; Performs the product control function to ensure the integrity of our financial results.

Team / Overview:

This is a Business Finance and Control line role supporting the XVA desk within Counterparty Portfolio Management.  This role includes the analyzing and reporting of Daily, Weekly, and Monthly PnL, reviews of the balance sheet as well as updating valuation adjustments and independent price verification work.  You will work closely with trading and other support partners such as Global Valuation Group, Market Risk and Trade Support.   

With demonstrated success, you’ll have the opportunity to advance in the BFC Product Role, with opportunities available at the Sr. Associate, Lead, and Sr. Lead level, to promote career advancement within the GBAM Finance organization.

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. More detailed characteristics you will be expected to display are described below.

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.

Planning & Reporting

  • 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.

Required Skills –

  • 3+ years of relevant or related experience
  • Advanced Excel, and Microsoft office suite experience
  • Use of Emerging technology e.g. Alteryx / Tableau
  • Experience of working in a financial control or reporting environment
  • Bachelor Degree (Prefer Accounting/Finance)

Desired Skills –

  • Knowledge of CVA / FVA and their calculation
  • Experience with Oracle
  • Knowledge of, or demonstrated experience with, accounting principles such as debits / credits.

Job Band:

H5

Shift: 

1st shift (United States of America)

Hours Per Week:

40

Weekly Schedule:

Referral Bonus Amount:

2000

Job Description:

We’re a culture that:

• Believes in responsible growth and has a proven dedication to supporting the communities we serve.
• Provides continuous training and developmental opportunities to help people achieve their goals, whatever their background or experience.
• Believes diversity makes us stronger, so we can reflect, connect to and meet the diverse needs of our clients and customers around the world.
• Is committed to advancing our tools, technology and ways of working. We always put our clients first to meet their evolving needs

The Chief Financial Officer (CFO) Group is responsible for the overall financial management of our company. This includes accounting, financial and regulatory reporting, balance sheet management, financial planning and analysis, treasury, investor relations, corporate investments and tax

Global Banking and Markets Finance strives to be a valued business partner to the company's trading, corporate and institutional banking businesses. Our first priority is to operate a series of key control processes to ensure the integrity of GBAM's financial results. Then we build on these activities to offer performance insight to business leaders. The assets of Finance are its people.

Business Finance Officers/Control (BFO/BFC) Partners directly with our Front Office LOBs providing strategic guidance and insight; Performs the product control function to ensure the integrity of our financial results.

Team / Overview:

This is a Business Finance and Control line role supporting the XVA desk within Counterparty Portfolio Management.  This role includes the analyzing and reporting of Daily, Weekly, and Monthly PnL, reviews of the balance sheet as well as updating valuation adjustments and independent price verification work.  You will work closely with trading and other support partners such as Global Valuation Group, Market Risk and Trade Support.   

With demonstrated success, you’ll have the opportunity to advance in the BFC Product Role, with opportunities available at the Sr. Associate, Lead, and Sr. Lead level, to promote career advancement within the GBAM Finance organization.

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. More detailed characteristics you will be expected to display are described below.

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.

Planning & Reporting

  • 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.

Required Skills –

  • 3+ years of relevant or related experience
  • Advanced Excel, and Microsoft office suite experience
  • Use of Emerging technology e.g. Alteryx / Tableau
  • Experience of working in a financial control or reporting environment
  • Bachelor Degree (Prefer Accounting/Finance)

Desired Skills –

  • Knowledge of CVA / FVA and their calculation
  • Experience with Oracle
  • Knowledge of, or demonstrated experience with, accounting principles such as debits / credits.

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Learn more about this role

Full time

JR-21084777

Band: H5

Manages People: No

Travel: No

Manager:

Talent Acquisition Contact:

Jeannie Jones-Pickering

Referral Bonus:

2000

Street Address

Primary Location:
250 VESEY ST, NY, New York, 10281