Senior Business Financial Control Product Associate

Bank of America; New York (NY); On-site; USD 70,000 - 110,000; Full time

Job summary

An established industry player is seeking a Senior Business Financial Control Product Associate to lead business analysis and financial reporting. This role involves analyzing Profit and Loss attributes, maintaining financial responsibility, and collaborating closely with various teams to enhance financial processes. The ideal candidate will have a strong background in finance, excellent analytical skills, and the ability to communicate effectively. Join a dynamic team committed to driving responsible growth and making a positive impact in the financial sector.

Qualifications

• 2+ years of experience in the financial industry or banking.
• Advanced skills in Excel and complex spreadsheets.

Responsibilities

• Prepare and analyze balance sheets and Profit and Loss (P&L) reports.
• Support profitability analysis, forecasting, and financial reporting.
• Partner with front office and technology to implement finance processes.

Skills

Financial Analysis

Excel

Problem Solving

Communication

Analytical Abilities

Education

Bachelor Degree in Accounting/Finance

Job description

Senior Business Financial Control Product Associate

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 aknowledge 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:

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

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

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

Partners closely with the front office, Operations, and Technology to define business finance processes and implement related technology solutions

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

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:

Minimum 2 years of experience in financial industry/banking experience

Experience with Credit Products / Structured products

Advanced experience/skills with Excel and complex spreadsheets

Candidate must be able to work both independently and as team member

Strong communication and presentation skills

Strong problem solving and analytical abilities

Desired Qualifications:

Bachelor Degree required - Accounting/Finance

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