Senior Business Financial Control Product Associate

Company: Disability Solutions
Location: New York
Posted on: February 2, 2025

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 a 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.Associate in this role has an interest in understanding Global Financial Markets and market drivers of the product they are supporting. Associate has the curiosity to understand complex structured transactions and operational risks around the end-to-end product lifecycle. Associate is interested in preparing analysis, performing critical testing and calculations in support of LOB. Produces financial reporting and disclosures, assists in production of regulatory matters. Analyzes & substantiates P&L attributes and balance sheets, establishes infrastructure for new products, performs month end close and periodic analysis, and validates postings and balances. Interacts with Front Office and support groups.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.Responsibilities:

• Prepares and analyzes balance sheets and Profit and Loss (P&L) reports and validates postings and balances for a product aligned to the 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
• New transaction review and substantiation as part of the due diligence process
• Understanding of Front to Back reconciliation and control
• Independent price verification
• Valuation Adjustment and reserve calculations
• Management reporting (revenue and expense analysis)
• Ad hoc and value-added business support
• Month-end book close
• Financial disclosure reporting
• Valued and trusted business partner to functions including FO, IT, Risk, Operations and ComplianceRequired Qualifications:
  • Minimum of 5 years financial industry /banking experience
  • Strong financial analytics experience
  • Advanced experience / skills with excel and complex spreadsheets
  • Candidate must be able to work both independently and as a team member
  • Strong communication and presentation skills
  • Strong problem solving and analytics abilitiesDesired Qualifications:
    • Bachelor's degree in Accounting/ FinanceSkills:
      • 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 SolvingShift:1st shift (United States of America)Hours Per Week: 40Pay Transparency detailsUS - NY - New York - 1100 Ave Of The Americas - Two Bryant Park (NY1540)Pay and benefits informationPay range$105,000.00 - $153,000.00 annualized salary, offers to be determined based on experience, education and skill set.Discretionary incentive eligibleThis 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.BenefitsThis 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.

Keywords: Disability Solutions, Brentwood , Senior Business Financial Control Product Associate, Accounting, Auditing , New York, New York