Business Analyst

Bank of America


Location:
Jersey City, NJ
Date:
09/21/2017
2017-09-212017-10-21
Job Code:
bankofamerica-17038935JerseyCityNJ
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Job Details

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Company Bank of America

Job Title Business Analyst

Jobid bankofamerica-17038935JerseyCityNJ

Location: Jersey City, NJ, 07308, USA

Description **Job Description:**



This position reports to the Director of MSG Business Solutions and will be responsible for gathering operational data and key financial metrics for management reporting; will work to develop a strong understanding of the end-to-end processes within each of the MSG products and services; will assist other team members with on-going or ad-hoc project needs and will actively participate in standing meetings both within the group and with our business and control partners. Specifically, this includes:



Strategic and business development lead



+ Assume key role in supporting business development initiatives through detailed analytical reviews, competitive analysis, opportunity costing, revenue forecasting and business impact reviews

+ Demonstrate keen understanding of the analytical output and on how issues can affect profitability, growth, and productivity of the business

+ Provide both financial and non-financial recommendations on strategic alternatives

+ Assist in developing and maintaining operational plans that align business develop initiatives with both short-term and long-term strategic goals

+ Synthesize detailed analytical review results into executive level reports/presentations

+ Participate in the presentation of review results to senior and executive leadership

+ Develop a strong working knowledge on the platforms, products and services our Advisors offer and how they are supported both locally in the field and by the Home Office

+ Stay informed of key industry developments and trends that may affect the business



Manage standard and ad-hoc reporting packages



+ Examine and evaluate purpose and content of business reports to develop new, or improve existing format, use, and control

+ Reviews reports to determine basic characteristics, such as origin and report flow, format, frequency, distribution and purpose or function of report

+ Confer with persons originating, handling, processing, or receiving reports to identify problems and to gather suggestions for improvements

+ Evaluate findings, using knowledge of workflow and operating practices

+ Recommend establishment of new or modified reporting methods and procedures to improve report content and completeness of information

+ Prepare and issue instructions concerning generation, completion, and distribution of reports according to new or revised practices, procedures, or policies of reports management

+ Define new reporting specifications and business analytics requirements

+ Performing data quality assurance that support monthly reporting packages

+ Defining reporting formats requirements

+ Own and develop relationship with partners, working with them to optimize and enhance our integration

+ Identify data source issues or questions and make recommendations to product team

+ Constantly be on the lookout for ways to improve reporting and deliver better value to our partners

+ Pull data from various sources and append to databases

+ Prepare monthly dashboard and reports

+ Prepare monthly PowerPoint reporting packages

+ Create ad hoc reports



Gaining a detailed understanding of the service offerings all MSG advisory programs



+ FA-Directed versus Firm Directed

+ Client versus FA Discretionary

+ Retirement versus Non-Retirement

+ SMA versus Custom Managed Strategies



Developing a strong working knowledge on how advisory fees are assessed and earned by knowing:



+ Pricing methodologies and advisor compensation structure

+ The applicable investment guidelines for each program

+ The Investment Advisory program billing methodologies

+ Other specific rules governing managed accounts (i.e., mutual fund rebating requirements)



Establishing strong lines of communication with MSG business and control partners by:



+ Clearly articulating potential operational risks with respect to new products or services

+ Providing feedback and assessment of client and FA impacts due to remediations



Identifying, tracking and updating remediation tasks, milestones and deliverables including:



+ Scoping the issue (i.e., remote or pervasive issue)

+ Determining key data elements necessary to conduct an accurate analysis

+ Conducting quality assurance tests to ensure validity



Conducting follow-ups on next steps and coordinating meetings with key stakeholders



Providing periodic written and verbal monitoring reports to the Client Remediations Group, Internal Audit, Business Governance and other control partners



Providing subject matter input and review of FA and Client facing communications regarding remediations



Providing and participating as needed in new/on-going systems/process projects and initiatives by:



+ Indentifying control gaps in both legacy and Investment Advisory programs

+ Defining system enhancements in support of Business Requirements Documentation

+ Attending requirements, development, testing and implementation meeting

+ Participating in weekly project management meeting



Assist with reviewing and documenting key business process controls throughout the MSG environment



The successful candidate shall have:



+ Strong financial and business process acumen to quickly understand a complex fee advisory environment



+ Strong project management skills to coordinate, lead and actively participate in assigning tasks roles, milestones and deliverables



+ Ability to work independently and effectively manage and monitor issues and remediations from identification through to completion



+ Ability to interact with Legal, Compliance, Risk, Operations, Technology, and the respective line of business in developing practical solutions that effectively address root causes of issues identified,



+ Ability to document business processes, identify potential gaps and propose solutions to remedy gaps



+ Strong desire to learn, lead, adapt and navigate a highly visible and challenging environment



+ Self confident, with capable interpersonal skills to team with a highly tasked and motivated group



Required Skills:



+ Bachelors degree in Finance, Accounting or Business Administration

+ 8 plus years of Financial industry experience

+ 2 plus years of project management experience

+ Operational risk management or audit experience a plus

+ 2 plus years of working with or knowledge of investment advisory fee based processes

+ Strong documentation skills and ability to clearly articulate message, both written and verbally

+ Excellent project management skills, including timely and actionable follow ups

+ Excellent organizational skills, including ability to multi-task and drive projects to completion

+ Strong negotiation skills to drive resolution of issues and agreement on corrective actions

+ Proficient in Word, and Power Point

+ Advanced Excel user comfortable using Macros, V-Lookups, Pivot Tables and other analytical tools



_Enterprise Job Description:_



_Responsibilities include monitoring the performance of a domestic discretionary or non-discretionary, advisory product, which may include managing a product within the brokerage or institutional offering. Responsibilities include working with more senior Product Specialists in developing product plans, strategies and enhancements, and performing data collection and coordination activities._



**Posting Date** : 05/31/2017



**Location** : US-NJ-Jersey City, US-NJ-Pennington



**Travel** : Yes, 10% of the time



**Full / Part-time** : Full time



**Hours Per Week** : 40



**Shift** : 1st shift



**Assistance for Applicants with Disabilities**



Bank of America is committed to ensuring that our online application process provides an equal employment opportunity to all job seekers, including individuals with disabilities. If you believe you need a reasonable accommodation in order to search for a job opening or to submit an application, please visit the Applicants with Disabilities page at http://careers.bankofamerica.com/us/applicants-with-disabilities .



**Diversity & Inclusion**



At Bank of America, our commitment to diversity and inclusion is helping us to create not only a great place to work, but also an environment where our employees, our customers and our communities around the world can reach their goals and connect with each other. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status.



**Frequently Asked Questions**



Need to know how to apply online, view a list of your submitted job applications or reset your password? Visit our FAQ at http://careers.bankofamerica.com/us/faq section for answers to these questions and more.



Success begins with building relationships.

At Bank of America, our customers are at the center of everything we do. Our focus is on helping each one find the right financial solutions. With a wide range of career opportunities available, we invite you to realize your career goals with us while assisting customers with what matters most to them.

Welcome to Careers at Bank of America.


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