Senior Business Financial Control Product Associate

Bank of America; New York (NY); On-site; USD 105,000 - 153,000; Full time

Job summary

An established industry player is seeking a dedicated professional to lead business analysis for financial products. This role involves preparing and analyzing financial reports, collaborating with various teams, and ensuring accurate financial reporting. The ideal candidate will possess strong analytical skills, attention to detail, and the ability to thrive in a fast-paced environment. Join a company that values diversity and inclusion, offering opportunities for growth and a chance to make a significant impact in the financial sector. Embrace a rewarding career path where your contributions matter!

Benefits

Industry-leading benefits

Paid time off

Discretionary incentive eligibility

Resources and support for employee wellness

Qualifications

• Minimum 2 years in banking or financial industry focusing on product control.
• Strong knowledge of balance sheets and general ledger is essential.

Responsibilities

• Analyze balance sheets and P&L reports for accuracy and compliance.
• Support strategic planning and financial reporting for products.

Skills

Analytical Thinking

Attention to Detail

Financial Accounting

Financial Management

Reporting

Business Analytics

Data Quality Management

Financial Processing

Price Verification and Valuation

Scenario Planning and Analysis

Business Acumen

Critical Thinking

Influence

Prioritization

Problem Solving

Education

Bachelor's degree in Finance or related field

Tools

Oracle/eLedger

Job description

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:
This job is responsible for leading business analysis for a Line of Business (LOB) by producing all financial reporting and disclosures in partnership with senior management, front office, and other business stakeholders. Key responsibilities include applying knowledge and understanding of product(s), processes, and inherent risks of a product, business or function to analyze and substantiate Profit and Loss (P&L) attributes and balance sheets, establish infrastructure for new products, and approve ledger journal entries.

Responsibilities:

1. Prepares and analyzes 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.
2. Supports the development of strategic and annual planning and implementation, performing profitability analysis, forecasting, and financial reporting for a product or general ledger account type.
3. 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.
4. Partners closely with the front office, Operations, and Technology to define business finance processes and implement related technology solutions.
5. Supports delivering, designing, maintaining, and enhancing Value at Risk Back-Testing (VBT) data and Management Information System (MIS) processes that may impact multiple product control businesses.
6. Analyzes regulatory matters, such as the Comprehensive Capital Analysis and Review (CCAR) and Recovery and Resolutions Plans (RRP), to assess risk modeling practices within the bank.

Required Qualifications:

1. Minimum 2 years of banking or financial industry experience, with a focus on product control or financial control.
2. Strong balance sheet and general ledger knowledge is essential.
3. Advanced Excel skills, particularly in managing complex spreadsheets and financial data.
4. Strong analytical and problem-solving skills with an ability to work both independently and in collaboration with cross-functional teams.
5. Ability to work effectively in a fast-paced, dynamic environment, particularly during quarter-end periods when additional hours, including Saturdays, may be required.
6. Inquisitive and proactive mindset; the candidate must be comfortable asking questions and working collaboratively with teams to resolve issues.
7. Strong communication skills with the ability to liaise with internal teams such as Capital Accounting Policy, Operations, and the Trading Desk.
8. Attention to detail and the ability to manage work independently without excessive supervision.

Desired Qualifications:

1. Experience with Oracle/eLedger queries and general ledger postings (preferred but not required; training will be provided if necessary).
2. Experience in process improvement or operational excellence (OPEX) initiatives.
3. Previous experience working with mortgages or securitized products (ABS, RMBS).

Skills:

1. Analytical Thinking
2. Attention to Detail
3. Financial Accounting
4. Financial Management
5. Reporting
6. Business Analytics
7. Data Quality Management
8. Financial Processing
9. Price Verification and Valuation
10. Scenario Planning and Analysis
11. Business Acumen
12. Critical Thinking
13. Influence
14. Prioritization
15. Problem Solving

Shift:

1st shift (United States of America)

Hours Per Week:

40

Pay Transparency details:

US - NY - New York - 1100 Ave Of The Americas - Two Bryant Park (NY1540)
Pay and benefits information
Pay range $105,000.00 - $153,000.00 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.