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Sr BFC Product Associate-Global Loan Portfolio Management Business Finance & Controls

Charlotte, North Carolina

Job Description:

Bank of America commitment to Diversity and Inclusion statement

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.

Team/Overview:
The Global Loan Portfolio Management (GLPM) Business Finance & Controls (BF&C) team is part of GBAM Finance and is responsible for coverage of the GLPM business - a public side trading desk tasked with credit risk hedging the firm’s corporate loan portfolios including both fair value and accrual accounting.  GLPM manages potential default loss, mark-to-market volatility, and overall P&L associated with corporate loans and the cost of hedging. 
The Finance team supports the desk in a Business Finance Officer (BFO) capacity, along with control functions to ensure proper reporting of the balance sheet and financial results.  Core responsibilities include daily, weekly and monthly risk and P&L reporting, explains, reconciliations and commentary; quarterly accounting disclosures; balance sheet reviews; audit coordination (internal & external, SOX); month end close; reserve calculations; pricing adjustments; and planning/forecasting. 

As part of the responsibilities of the role, the teammate will also develop business partner relationships with the various businesses, controller groups and other support partners. Throughout the tenure of the role, the teammate should gain exposure and acumen in funded and unfunded loan balances, various lending products, FTP, Allowance for Loan Loss, Capital (Basel 3A, Basel 3S, SLE), and several other areas of the organization.  The candidate will develop or improve the following skills: Business Partnering, Management Reporting Focus, Process Control, and Capital Management.

This is a well-rounded role in which candidates have the opportunity to partner closely with the GLPM desk (Front Office), Risk and other senior finance managers.  Candidate will learn to view complex traded products at a macro and micro level, as well as how to deconstruct balance sheet and P&L to provide analytical support to the desk and other business partners.  The role also involves development and enhancement of financial analytics platforms. The candidate will have the opportunity to help coach talent on the team and will be looked to provide guidance for pnl production activities.

Required Skills
•         BS / BA Degree Required  - (Accounting, Finance or Economics Preferred)
•         2 - 5  years accounting or finance experience
•         Understanding of accounting (debits / credits), reconciliation, balancing
•         Understanding of ledger, and sub ledger systems (SAP/eLedger, Oracle, Finman, etc)
•         Advanced in Microsoft Office suite of products with emphasis on strong Excel (macros, pivot tables, etc) as well as various Bank specific reporting tools (EPM, FMA, etc)
•         Must be able to work across the organization to research and resolve issues
•         Highly organized, detail oriented, proactive, and able to multitask in a deadline driven environment
•         Independent learner and thinker, Initiative, Insight, leadership skills
•         Demonstrated financial acumen with analytical and problem solving skills
•         Ability to communicate, partner and influence across a matrix organization
Desired Skills
•         MBA / CPA / CFA
•         Experience with loans, derivatives and/or bonds
•         Experience with Bloomberg, Loanrunner, ACBS, BUCS, Python, Access, and/or SQL
•         FASB / SEC Exposure
Experience around regulatory reporting, Sarbanes Oxley, capital reporting and metrics

Job Band:

H5

Shift: 

1st shift (United States of America)

Hours Per Week:

40

Weekly Schedule:

Referral Bonus Amount:

2000

Job Description:

Bank of America commitment to Diversity and Inclusion statement

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.

Team/Overview:
The Global Loan Portfolio Management (GLPM) Business Finance & Controls (BF&C) team is part of GBAM Finance and is responsible for coverage of the GLPM business - a public side trading desk tasked with credit risk hedging the firm’s corporate loan portfolios including both fair value and accrual accounting.  GLPM manages potential default loss, mark-to-market volatility, and overall P&L associated with corporate loans and the cost of hedging. 
The Finance team supports the desk in a Business Finance Officer (BFO) capacity, along with control functions to ensure proper reporting of the balance sheet and financial results.  Core responsibilities include daily, weekly and monthly risk and P&L reporting, explains, reconciliations and commentary; quarterly accounting disclosures; balance sheet reviews; audit coordination (internal & external, SOX); month end close; reserve calculations; pricing adjustments; and planning/forecasting. 

As part of the responsibilities of the role, the teammate will also develop business partner relationships with the various businesses, controller groups and other support partners. Throughout the tenure of the role, the teammate should gain exposure and acumen in funded and unfunded loan balances, various lending products, FTP, Allowance for Loan Loss, Capital (Basel 3A, Basel 3S, SLE), and several other areas of the organization.  The candidate will develop or improve the following skills: Business Partnering, Management Reporting Focus, Process Control, and Capital Management.

This is a well-rounded role in which candidates have the opportunity to partner closely with the GLPM desk (Front Office), Risk and other senior finance managers.  Candidate will learn to view complex traded products at a macro and micro level, as well as how to deconstruct balance sheet and P&L to provide analytical support to the desk and other business partners.  The role also involves development and enhancement of financial analytics platforms. The candidate will have the opportunity to help coach talent on the team and will be looked to provide guidance for pnl production activities.

Required Skills
•         BS / BA Degree Required  - (Accounting, Finance or Economics Preferred)
•         2 - 5  years accounting or finance experience
•         Understanding of accounting (debits / credits), reconciliation, balancing
•         Understanding of ledger, and sub ledger systems (SAP/eLedger, Oracle, Finman, etc)
•         Advanced in Microsoft Office suite of products with emphasis on strong Excel (macros, pivot tables, etc) as well as various Bank specific reporting tools (EPM, FMA, etc)
•         Must be able to work across the organization to research and resolve issues
•         Highly organized, detail oriented, proactive, and able to multitask in a deadline driven environment
•         Independent learner and thinker, Initiative, Insight, leadership skills
•         Demonstrated financial acumen with analytical and problem solving skills
•         Ability to communicate, partner and influence across a matrix organization
Desired Skills
•         MBA / CPA / CFA
•         Experience with loans, derivatives and/or bonds
•         Experience with Bloomberg, Loanrunner, ACBS, BUCS, Python, Access, and/or SQL
•         FASB / SEC Exposure
Experience around regulatory reporting, Sarbanes Oxley, capital reporting and metrics

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Learn more about this role

Full time

JR-22054832

Band: H5

Manages People: No

Travel: No

Manager:

Talent Acquisition Contact:

Jeannie Jones-Pickering

Referral Bonus:

2000

Street Address

Primary Location:
201 N Tryon St, NC, Charlotte, 28255