Senior Finance Analyst – Business Support (The Investment, Trust & Workplace Benefits Reporting, Analysis & Forecasting Team)

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 Summary:
This job is responsible for serving as a finance partner to specified Lines of Business (LOBs) and providing financial analysis and guidance to support key decisions and initiatives. Key responsibilities include performing forecasting, profitability analysis, expense efficiency, pricing, financial reporting, and generating value creation ideas and new investment business cases. Job expectations include preparing insights to guide management's decision making and evaluating financial performance versus plans, forecasts, and prior periods.

The Investment, Trust & Workplace Benefits Reporting, Analysis & Forecasting Team is part of the Consumer/GWIM CFO organization. The primary focus of our team is providing centralized finance support to the GWIM Product teams (Investment Solutions Group, Workplace Benefits, National Trust Services and Philanthropic Business) and the GWIM Stress Testing Process.

Responsibilities:

• Evaluates Lines of Business (LOB) financial performances and assists with decision making by synthesizing key trends, assessing current and future business risks, and preparing, analyzing, and reporting on financial results and key metrics

• Develops financial management reports, presentations, and ad hoc analyses for LOBs and/or finance partners

• Creates forecasts and budgets by comparing current performance against plan, prior periods, prior forecasts, and budgets and evaluating current and future performance trajectory

• Supports reporting and analysis for key constituents and management, which may include Board of Directors, Investor Relations, and/or various regulatory agencies

• Collaborates with teams across the Finance division to ensure integrity of the financials, sound controls, and efficient and effective procedures

• Supports new and ongoing projects and strategic initiatives by creating processes to automate key reporting capabilities and delivering on process improvements and simplifications to enable increased focus on strategic priorities

Additional Responsibilities:

The primary focus of Senior Financial Analyst on the GWIM Stress Test team is to develop, implement and maintain processes and procedures to produce the quarterly GWIM stress forecast. 

Responsibilities include:

• Producing stress forecasts for GWIM non-interest revenue streams, comprising multiple products and asset classes, for use in the Federal Reserve Board’s Comprehensive Capital Analysis & Review (CCAR)

• Consolidating and communicating stress results, including variance and attribution analysis, to senior GWIM leaders

• Maintaining and improving end-to-end automation of complex forecast process by utilizing Power Query and VBA

• Liaising with quantitative modeling team, lines of business, and model risk management to develop quantitative and/or qualitative models that accurately reflect revenue drivers and business risks to stress GWIM Non-Interest Income

• Develop and implement model governance and monitoring process through Ongoing Monitoring Reviews and Reporting utilizing statistical tests and benchmarking to identify and investigate model performance issues. Perform statistical models back-testing and monitor adherence to monitoring plan with GWIM LOB, BFOs, Model Developers and Model Risk Management (MRM)

The GWIM stress team partners with the GWIM Business leadership team, the GWIM Finance leadership team, BFO Finance, LOB Executives, the Enterprise Stress Test team, Global Risk Analytics and MRM.

The team is looking for an energetic candidate with strong technical skills and interest in investment products and trends in wealth management industry.  The successful candidate must be automation focused, detailed oriented and have the proven ability to lead a project and take the initiative to own a process from beginning to end.

Required Skills:

• 5+ years of financial analysis work experience

• Experience working with large data sets and strong data analysis skills

• Financial Forecasting experience or monthly / quarterly reporting

• Advanced Excel / data manipulation / Power Query / Alteryx / Tableau

• Analytical Abilities / Financial Acumen - Systematic application of a combination of inductive and deductive reasoning to examine information, interpret results and arrive at well-founded logical conclusions

• Strong organizational and communication skills

 
Desired Skills:

• Basic programing knowledge of SQL, SAS, or VBA

• Basic knowledge of statistical concepts (linear regression, standard deviation, time series analysis, etc)

• Regulatory Reporting experience

• eLedger, EPM /Essbase reporting experience

• Strong business acumen including investment products knowledge

• CFA / MBA / CPA

• Bachelor's degree - accounting or finance preferred

Skills: Data Quality Management, Reporting, Business Process Analysis, Attention to Detail, Collaboration, Financial Analysis, Financial Forecasting and Modeling, Financial Processing, Data Visualization, Prioritization, Business Case Analysis, Analytical Thinking, Business Acumen, Critical Thinking, Decision Making

Shift:

Hours Per Week: