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Equities Finance Analyst

Chester, , United Kingdom

Job Description:

Job Title:  Equities Finance Analyst

Corporate Title:  Officer/AVP

Location:  Chester

Bank of America 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’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 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.

Today, the company offers an integrated and comprehensive set of products and services across all businesses, serving the needs of individual, corporate, institutional and government clients, by combining the best of local knowledge and international expertise. Bank of America Merrill Lynch has a strategic and measured approach to its international development and is strengthening its business and infrastructure to create sustainable, long-term growth.

Role Description:

A fantastic opportunity has become available for an experienced Finance Product Controller to join our established CFO Group based in London. The role will be for EMEA & AMRS Equity Derivatives, Financial Management & Strategy Team and the role involves the execution of key CFO deliverables detailed below.

EMEA Chief Financial Officer acts both as a control function and a valued business advisor by providing expertise in the following areas:

•             Business Finance & Controls

•             Price Verification

•             Legal Entity Control

•             Financial Planning and Analysis

•             Corporate Reporting

•             Capital Planning / Regulatory Reporting

•             Finance Infrastructure

We are committed to the development of our people through:

•             Career progression and internal mobility

•             Internal targeted training as well as assisted study for professional qualifications

•             Work life balance

•             Special interests such as volunteering and the environmental working group

•             Social activity

  • Bank of America offers a number of outstanding career opportunities designed to attract and retain all skill levels – a chance for both personal and professional development as well as a salary and benefit package designed to reflect the individual’s contribution

  • The primary function of the Equity Business, Financial 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 role is to support the Equity Derivatives business, which makes secondary markets in European equity derivatives (Single Stock and Index Options, Emerging Markets, Exotics products, Fund Derivatives and Corporate Derivatives).

The Team:

The Equity Derivatives Business, Financial Management & Strategy Team is comprised of 15 dedicated professionals, with associates based in both London and Chester.

Key skills:

The Equity Derivatives Business, Financial Management & Strategy Team is comprised of 15 dedicated professionals, with associates based in both London and Chester.

As an experienced product controller you will be expected to take ownership for the main functions outlined below.   In addition you are expected to develop a solid understanding of the business, drive execution, sustain intensity and optimism and live BofA key values and culture and promote them throughout your Team. 

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

  • Degree or Equivalent

  • Qualified CFA or Accountant (ACA, ACCA, CIMA or equivalent) or part qualified.

  • Experience in CFO Banking  

  • Good working knowledge of accounting concepts

  • Good understanding of Product Control and IPV function

  • Knowledge of Derivative Exotic products

  • Ability strong Excel skills with the ability to build and use spreadsheets

  • Demonstrable risk identification and management

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:

H6

Shift: 

Hours Per Week:

35

Weekly Schedule:

Referral Bonus Amount:

0

Job Description:

Job Title:  Equities Finance Analyst

Corporate Title:  Officer/AVP

Location:  Chester

Bank of America 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’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 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.

Today, the company offers an integrated and comprehensive set of products and services across all businesses, serving the needs of individual, corporate, institutional and government clients, by combining the best of local knowledge and international expertise. Bank of America Merrill Lynch has a strategic and measured approach to its international development and is strengthening its business and infrastructure to create sustainable, long-term growth.

Role Description:

A fantastic opportunity has become available for an experienced Finance Product Controller to join our established CFO Group based in London. The role will be for EMEA & AMRS Equity Derivatives, Financial Management & Strategy Team and the role involves the execution of key CFO deliverables detailed below.

EMEA Chief Financial Officer acts both as a control function and a valued business advisor by providing expertise in the following areas:

•             Business Finance & Controls

•             Price Verification

•             Legal Entity Control

•             Financial Planning and Analysis

•             Corporate Reporting

•             Capital Planning / Regulatory Reporting

•             Finance Infrastructure

We are committed to the development of our people through:

•             Career progression and internal mobility

•             Internal targeted training as well as assisted study for professional qualifications

•             Work life balance

•             Special interests such as volunteering and the environmental working group

•             Social activity

  • Bank of America offers a number of outstanding career opportunities designed to attract and retain all skill levels – a chance for both personal and professional development as well as a salary and benefit package designed to reflect the individual’s contribution

  • The primary function of the Equity Business, Financial 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 role is to support the Equity Derivatives business, which makes secondary markets in European equity derivatives (Single Stock and Index Options, Emerging Markets, Exotics products, Fund Derivatives and Corporate Derivatives).

The Team:

The Equity Derivatives Business, Financial Management & Strategy Team is comprised of 15 dedicated professionals, with associates based in both London and Chester.

Key skills:

The Equity Derivatives Business, Financial Management & Strategy Team is comprised of 15 dedicated professionals, with associates based in both London and Chester.

As an experienced product controller you will be expected to take ownership for the main functions outlined below.   In addition you are expected to develop a solid understanding of the business, drive execution, sustain intensity and optimism and live BofA key values and culture and promote them throughout your Team. 

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

  • Degree or Equivalent

  • Qualified CFA or Accountant (ACA, ACCA, CIMA or equivalent) or part qualified.

  • Experience in CFO Banking  

  • Good working knowledge of accounting concepts

  • Good understanding of Product Control and IPV function

  • Knowledge of Derivative Exotic products

  • Ability strong Excel skills with the ability to build and use spreadsheets

  • Demonstrable risk identification and management

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-22059871

Band: H6

Manages People:

Manager:

Talent Acquisition Contact:

Hannah Scullion

Referral Bonus:

0

Street Address

Primary Location:
Herons Way, Chester, CH4 9FE