Bank of America
GFX Sr. Business Financial Control Product Associate (CFO)
Bank of America, New York, New York, us, 10261
GFX Sr. Business Financial Control Product Associate (CFO)
Join to apply for the
GFX Sr. Business Financial Control Product Associate (CFO)
role at
Bank of America .
Base Pay Range $100,000.00/yr - $154,100.00/yr
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. Bank of America is committed to an in‑office culture with specific requirements for office‑based attendance and a flexible arrangement based on role‑specific considerations. In this role you will lead business analysis for a Line of Business (LOB) by producing all financial reporting and disclosures in partnership with senior management, front office and other 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. The CFO Group oversees overall financial management of the company including 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. The asset of Finance is its people.
Responsibilities
Prepares and analyzes balance sheets and P&L reports and validates postings and balances for a product aligned to a LOB using knowledge of financial products, market risk profiles, and risk mitigation techniques and strategies.
Supports the development of strategy, 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 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 CCAR and RRP to assess risk‑modeling practices within the bank.
Oversees daily P&L explanation, P&L substantiation to market events, significant transaction review and its provision for VaR backtesting and other downstream processes.
Performs monthly independent price verification on derivatives and securities positions, maintaining basic knowledge of financial models.
Calculates valuation adjustments and validates appropriate application of models for books & records.
Maintains and updates valuation adjustment & IPV Desk Level Procedures (DLP).
Prepares monthly & quarterly revenue and balance sheet commentary for senior managers and regulators.
Performs regulatory capital disclosures, price testing, sector analysis, stress testing, and forecasting.
Validates Volcker and capital attributes for books to ensure compliance with enterprise guidelines.
Partners with Trading Desk, Trade Support, Operations, ECM and other partners on business support including new product review, accounting assessment, and issue resolution.
Coordinates the monthly close process and quarterly financial reporting requirements.
Works on initiatives to simplify and automate manual processes.
Required Qualifications
5+ years hands‑on experience in Product Control or Finance group.
BS/BA Degree required (Finance, Accounting preferred).
Global Markets experience.
Global Rates market knowledge – familiarity with a broad range of asset classes.
Derivatives product and valuation knowledge – technical expertise of models used to reprice complex transactions.
Advanced experience with Excel and complex spreadsheets.
Control focus, analytical, team oriented, comfortable with complex products.
Excellent organizational, communication, and relationship management skills.
Proven analytical skills including data reconciliation and interpretation.
Ability to identify and deliver process improvements.
Good business partnering skills.
Desired Qualifications
Fixed income or derivative experience.
Inquisitive, willing to challenge the status quo and strive to improve processes.
Skills
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 Solving
Shift 1st shift (United States of America)
Hours Per Week 40
Seniority Level Mid‑Senior level
Employment Type Full‑time
Job Function Finance and Sales
Industries Banking
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GFX Sr. Business Financial Control Product Associate (CFO)
role at
Bank of America .
Base Pay Range $100,000.00/yr - $154,100.00/yr
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. Bank of America is committed to an in‑office culture with specific requirements for office‑based attendance and a flexible arrangement based on role‑specific considerations. In this role you will lead business analysis for a Line of Business (LOB) by producing all financial reporting and disclosures in partnership with senior management, front office and other 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. The CFO Group oversees overall financial management of the company including 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. The asset of Finance is its people.
Responsibilities
Prepares and analyzes balance sheets and P&L reports and validates postings and balances for a product aligned to a LOB using knowledge of financial products, market risk profiles, and risk mitigation techniques and strategies.
Supports the development of strategy, 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 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 CCAR and RRP to assess risk‑modeling practices within the bank.
Oversees daily P&L explanation, P&L substantiation to market events, significant transaction review and its provision for VaR backtesting and other downstream processes.
Performs monthly independent price verification on derivatives and securities positions, maintaining basic knowledge of financial models.
Calculates valuation adjustments and validates appropriate application of models for books & records.
Maintains and updates valuation adjustment & IPV Desk Level Procedures (DLP).
Prepares monthly & quarterly revenue and balance sheet commentary for senior managers and regulators.
Performs regulatory capital disclosures, price testing, sector analysis, stress testing, and forecasting.
Validates Volcker and capital attributes for books to ensure compliance with enterprise guidelines.
Partners with Trading Desk, Trade Support, Operations, ECM and other partners on business support including new product review, accounting assessment, and issue resolution.
Coordinates the monthly close process and quarterly financial reporting requirements.
Works on initiatives to simplify and automate manual processes.
Required Qualifications
5+ years hands‑on experience in Product Control or Finance group.
BS/BA Degree required (Finance, Accounting preferred).
Global Markets experience.
Global Rates market knowledge – familiarity with a broad range of asset classes.
Derivatives product and valuation knowledge – technical expertise of models used to reprice complex transactions.
Advanced experience with Excel and complex spreadsheets.
Control focus, analytical, team oriented, comfortable with complex products.
Excellent organizational, communication, and relationship management skills.
Proven analytical skills including data reconciliation and interpretation.
Ability to identify and deliver process improvements.
Good business partnering skills.
Desired Qualifications
Fixed income or derivative experience.
Inquisitive, willing to challenge the status quo and strive to improve processes.
Skills
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 Solving
Shift 1st shift (United States of America)
Hours Per Week 40
Seniority Level Mid‑Senior level
Employment Type Full‑time
Job Function Finance and Sales
Industries Banking
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