Senior Asset Liability Associate

Job Description:

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.

Being a Great Place to Work is core to how we drive Responsible Growth. This includes our commitment to being a diverse and inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.

At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

Job Description:

The BSM IFAR team works with the broader finance team to support LOB and finance partners through analytics and reporting to communicate the story of Treasury’s financial results to stakeholders. This team is responsible for coordinating, consolidating, analyzing, and reporting baseline and stress test balance sheet forecast results which include average/ending balances, net interest income (NII), treasury non-interest income and yield by line of business, legal entity, and product.

The associate role within Balance Sheet Management IFAR primarily focuses on providing reporting for our Residual Income and Non-interest income results. This reporting gauges performance for senior management and corporate planning and tracks market- driven items and/or management decisions and ensures they align with expectations. The associate will be responsible and oversee execution and accuracy of residual income quarterly forecast and monthly actuals, and FDIC Expense forecasting. They will present to stakeholders, including various LOB leads the results and trends impacting results. The associate will be responsible for explaining variances and communicating storylines to business partners and senior management.

They will be responsible for helping drive OpEx saves where applicable. They work with Managers to escalate risks and communicate key reported items and storylines. They are responsible for preparing entries to the General Ledger. Associate partners with other associates and team leads across BSM, Corporate Treasury, Risk, MRM and the CFO group. This role is also expected to be involved with the review of other IFAR deliverables across Balance Sheet and Net Interest Income analytics and reporting.

Responsibilities:

• Forecast analysis and reporting for Residual Income, Non Interest Income and FDIC expense delivered with accuracy
• Perform analysis and reporting implementations based on market activities or senior leader requests
• Perform review and challenge across various Balance Sheet, NII and Treasury Income results across forecast and actuals
• Process design/Operational excellence
• Presentations to Senior Leaders
• Model management

Skills:

• Analytical Thinking
• Attention to Detail
• Data and Trend Analysis
• Financial Analysis
• Financial Forecasting and Modeling
• Adaptability
• Regulatory Compliance
• Reporting
• Risk Analytics
• Scenario Planning and Analysis
• Benchmarking
• Business Acumen
• Business Analytics
• Financial Management

Required Skills:

• 3+ years of experience within a financial institution with experience as a Balance Sheet or Financial Analyst
• Finance / Accounting knowledge – experience in balance sheet management, forecasting, FP&A or other Corporate Treasury functions
• SAP/eLedger experience
• Understanding of financial market dynamics, interest rates, accounting, and financial products
• Proficient in MS Office tools, especially Microsoft Excel (v look ups, pivot tables)
• Inquisitive, willing to challenge the status quo and strive to improve processes
• Ability to meet strict timelines, ability to work with a high level of autonomy and make well-reasoned decisions
• Ability to work across multiple teams in a collaborative environment
• Ability to problem solve, manage multiple priorities in a fast paced and time sensitive environment
• Strong communications / interpersonal skills both written and verbal

Desired Skills:

• 4+ years related experience preferred
• Bachelor’s degree (quantitative finance, financial analysis, accounting, economics, or business administration preferred)
• Experience in Treasury / Financial institution forecasting
• Balance Sheet product and Net Interest Income business acumen
• CFA, CPA and/or MBA preferred
• Experience with Tableau and Alteryx preferred

Shift:

Hours Per Week: