30 days old

Sr BFC Product Associate: CFO Group, GBAM Finance, Commodities Finance

New York, NY 10176
Sr BFC Product Associate: CFO Group, GBAM Finance, Commodities Finance



New York, New York



**Job Description:**



**Bank of America commitment to Diversity and Inclusion statement**

Were a culture that:

Believes in responsible growth and has a proven dedication to supporting the communities we serve.

Provides continuous training and developmental opportunities to help people achieve their goals, whatever their background or experience.

Believes diversity makes us stronger, so we can reflect, connect to and meet the diverse needs of our clients and customers around the world.

Is committed to advancing our tools, technology and ways of working. We always put our clients first to meet their evolving needs

**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; Performs the product control function to ensure the integrity of our financial results

**Team / Overview:**

This role is to represent Finance in supporting the Global Commodities business in NY, which includes Oil, Power, Gas, and Index 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.



With demonstrated success, youll have the opportunity to advance in the BFC Product Role, with opportunities available at the Sr. Associate, Lead, and Sr. Lead level, to promote career advancement within the GBAM Finance organization



**Responsibilities will include the following:**



_Daily P&L & Balance Sheet Reporting & Oversight_



+ Review and challenge of official daily P&L explain and VaR backtesting

+ Daily P&L reporting to local and regional management

+ Oversight of trader estimate to official T+1 P&L variances at business unit level

+ Preparation of daily P&L commentary and substantiation to market events

+ Review and finance documentation of material new deals

+ Review and approval of changes to valuation adjustments & reserves

+ Review of changes to balance sheet & substantiation to transactional activity



**_Core Financial Oversight Functions:_**



+ Price verification (daily, weekly, monthly)

+ Monthly & quarterly revenue commentary

+ Maintaining/updating valuation adjustment & reserve policies

+ Balance sheet analysis (capital, liquidity, exposures, etc.) including inventory aging and reporting

+ Determining and implementing appropriate accounting policies & procedures

+ Managing key accounting, legal entity, regulatory and P&L issues with the business

+ Oversight of financial disclosures and month end adjustments

+ Exercise of control oversight of the business

+ Oversee Finance new product and non-standard transaction review

+ Oversee certain governance and control processes including SOX



_Required Skills_



+ Bachelor's degree required

+ 7+ years of finance and/or accounting experience

+ Commodities product experience preferred

+ Excel, VBA, and Microsoft office suite experience

+ Self-starters with strong leadership and organization skills



**Job Band:**



H5



**Shift:**



1st shift (United States of America)



**Hours Per Week:**



40



**Weekly Schedule:**



No



**Referral Bonus Amount:**



2000



**Job Description:**



**Bank of America commitment to Diversity and Inclusion statement**

Were a culture that:

Believes in responsible growth and has a proven dedication to supporting the communities we serve.

Provides continuous training and developmental opportunities to help people achieve their goals, whatever their background or experience.

Believes diversity makes us stronger, so we can reflect, connect to and meet the diverse needs of our clients and customers around the world.

Is committed to advancing our tools, technology and ways of working. We always put our clients first to meet their evolving needs

**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; Performs the product control function to ensure the integrity of our financial results

**Team / Overview:**

This role is to represent Finance in supporting the Global Commodities business in NY, which includes Oil, Power, Gas, and Index 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.



With demonstrated success, youll have the opportunity to advance in the BFC Product Role, with opportunities available at the Sr. Associate, Lead, and Sr. Lead level, to promote career advancement within the GBAM Finance organization



**Responsibilities will include the following:**



_Daily P&L & Balance Sheet Reporting & Oversight_



+ Review and challenge of official daily P&L explain and VaR backtesting

+ Daily P&L reporting to local and regional management

+ Oversight of trader estimate to official T+1 P&L variances at business unit level

+ Preparation of daily P&L commentary and substantiation to market events

+ Review and finance documentation of material new deals

+ Review and approval of changes to valuation adjustments & reserves

+ Review of changes to balance sheet & substantiation to transactional activity



**_Core Financial Oversight Functions:_**



+ Price verification (daily, weekly, monthly)

+ Monthly & quarterly revenue commentary

+ Maintaining/updating valuation adjustment & reserve policies

+ Balance sheet analysis (capital, liquidity, exposures, etc.) including inventory aging and reporting

+ Determining and implementing appropriate accounting policies & procedures

+ Managing key accounting, legal entity, regulatory and P&L issues with the business

+ Oversight of financial disclosures and month end adjustments

+ Exercise of control oversight of the business

+ Oversee Finance new product and non-standard transaction review

+ Oversee certain governance and control processes including SOX



_Required Skills_



+ Bachelor's degree required

+ 7+ years of finance and/or accounting experience

+ Commodities product experience preferred

+ Excel, VBA, and Microsoft office suite experience

+ Self-starters with strong leadership and organization skills



**Shift:**



1st shift (United States of America)



**Hours Per Week:**



40



Learn more about this role



Full time



JR-22037391



Band: H5



Manages People: No



Travel: No



Manager:



Talent Acquisition Contact:



Jeannie Jones-Pickering



Referral Bonus:



2000



Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity and affirmative action, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other bases such as medical condition, marital status or any other factor that is irrelevant to the performance of our teammates.




To view the "EEO is the Law" poster, CLICK HERE (https://www.dol.gov/ofccp/regs/compliance/posters/pdf/eeopost.pdf) .


To view the "EEO is the Law" Supplement, CLICK HERE (https://www.dol.gov/ofccp/regs/compliance/posters/pdf/OFCCP\_EEO\_Supplement\_Final\_JRF\_QA\_508c.pdf) .



Bank of America aims to create a workplace free from the dangers and resulting consequences of illegal and illicit drug use and alcohol abuse. Our Drug-Free Workplace and Alcohol Policy (Policy) establishes requirements to prevent the presence or use of illegal or illicit drugs or unauthorized alcohol on Bank of America premises and to provide a safe work environment.




To view Bank of Americas Drug-free workplace and alcohol policy, CLICK HERE .

Industry

  • Banking / Finance
Posted: 2022-04-22 Expires: 2022-06-04

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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Sr BFC Product Associate: CFO Group, GBAM Finance, Commodities Finance

Bank of America
New York, NY 10176

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