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 Senior Business Financial Control Product Associate to lead business analysis and financial reporting. This role involves collaborating with senior management and stakeholders to analyze Profit and Loss attributes and establish product infrastructures. The ideal candidate will possess strong analytical skills, advanced Excel proficiency, and the ability to work in a fast-paced environment. Join a company that values diversity, inclusion, and employee wellness, and take the next step in your career while making a meaningful impact in the financial sector.

Benefits

Industry-leading benefits

Paid time off

Discretionary incentive eligibility

Qualifications

• Minimum 2 years of experience in banking or financial industry.
• Strong knowledge of balance sheets and general ledger.

Responsibilities

• Analyze balance sheets and P&L reports for financial products.
• Collaborate with teams to define business finance processes.

Skills

Analytical Skills

Problem-Solving Skills

Communication Skills

Attention to Detail

Ability to Work Independently

Education

Bachelor's Degree in Finance or related field

Tools

Advanced Excel

Oracle/eLedger

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 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).

$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.

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.