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 and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates' physical, emotional, and financial wellness through affordable, competitive and flexible benefits. We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve. Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs. At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!
Job Description:This job is responsible for overseeing all aspects of the Finance functions for the business and serving as a key contact for the front office and senior management. Key responsibilities include applying knowledge of product(s), processes, and inherent risks for a product, business or function to analyze Profit and Loss (P&L) reports and balance sheets and approve ledger journal entries. Job expectations include delegating tasks to team, and building influential relationships.
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.
Team / Overview:
This role is to represent Finance in supporting the Global Equity Derivatives business in New York, which includes Flow, Exotic, and Structured Products. The role requires strong leadership skills - candidates will be expected to influence team members, collaborate with the desk and other business partners, create structure for complex issues and focus on delivering solutions in line with the long-term strategic goals of the bank.
Responsibilities:- Oversees and manages all aspects of the Finance functions for the business and serves as the key contact for the front office and senior management
- Drives and guides the development of strategic and annual planning and implementation, profitability analysis, forecasting, and financial reporting for a product or general ledger account type
- Approves balance sheets and Profit and Loss (P&L) reports and validates postings and balances for a product aligned to a Line of Business (LOB) using knowledge of financial products, market risk profiles, and risk mitigation techniques and strategies
- Leads a team that oversees a set of product(s) or general ledger account(s) and maintains financial responsibility, including accountability for accuracy of financial reporting for Profit and Loss (P&L) activities
- Builds relationships with the front office, Operations, and Technology and partners to define business finance processes and implement related technology solutions
- Leads various internal strategic initiatives and engagements including talent management and provides thought leadership to delegates
- Daily P&L & Balance Sheet - Reporting & Oversight, Balance sheet analysis (capital, liquidity, exposures, etc.)
- Review with finance documentation of material new deals
- Oversight of financial disclosures and month end adjustments and review with approval of changes to valuation adjustments & reserves
- Price verification (daily, weekly, monthly), monthly /quarterly revenue commentary and managing key accounting and legal entity, regulatory and P&L issues with the business
Managerial Responsibilities:This position may also have responsibilities for managing associates. At Bank of America, all managers at this level demonstrate the following responsibilities, in addition to those specific to the role, listed above.
- Opportunity & Inclusion Champion: Models an inclusive environment for employees and clients, aligned to company Great Place to Work goals.
- Manager of Process & Data: Demonstrates deep process knowledge, operational excellence and innovation through a focus on simplicity, data-based decision making and continuous improvement.
- Enterprise Advocate & Communicator: Communicates enterprise decisions, purpose, and results, and connects to team strategy, priorities and contributions.
- Risk Manager: Ensures proper risk discipline, controls and culture are in place to identify, escalate and debate issues.
- People Manager & Coach: Provides inspection, coaching and feedback to motivate, differentiate and improve performance.
- Financial Steward: Actively manages expenses and budgets in alignment with objectives, making sound financial decisions.
- Enterprise Talent Leader: Assesses talent and builds bench strength for roles across the organization.
- Driver of Business Outcomes: Delivers results by effectively prioritizing, inspecting and appropriately delegating teamwork.
Required Qualifications:
- Bachelor's degree required
- 8+ years of finance and/or accounting experience
- 8+ years of professional/demonstrated work experience within financial services industry.
- Global Markets and derivatives experience
- Proven Leadership skills managing a team
- Excel, VBA, and Microsoft office suite experience
- Self-starters with strong leadership and organization skills
Desired Qualifications:- Equity Derivative product experience
- Masters or MBA
- CFA, CPA and/or Accounting Qualification
Skills:- Analytical Thinking
- Attention to Detail
- Business Analytics
- Financial Accounting
- Financial Management
- Data Quality Management
- Price Verification and Valuation
- Problem Solving
- Reporting
- Scenario Planning and Analysis
- Business Acumen
- Consulting
- Critical Thinking
- Influence
- Prioritization
Shift:1st shift (United States of America)
Hours Per Week: 40
Pay Transparency detailsUS - NY - New York - 1100 Ave Of The Americas - Two Bryant Park (NY1540)
Pay and benefits information
Pay range
$135,000.00 - $199,500.00 annualized salary, offers to be determined based on experience, education and skill set.
Discretionary incentive eligible
This role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.
Benefits
This role is currently benefits eligible. We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.
