About the position
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 an 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. Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations. At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us! This job is responsible for supporting 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 of product(s), processes, and inherent risks for a product, business or function to analyze and substantiate Profit and Loss (P&L) attributes and balance sheets, assist in production of regulatory matters analysis, and perform critical testing and calculations. The Global Credit & Special Situations (GCSS) Finance team is part of the CFO organization. The primary focus of our team is to support the GCSS Distressed Trading business through the implementation and execution of key control processes including legal financial books and records, valuations control, regulatory matters, forecasting, P&L explain, and balance sheet analysis. The desk trades in a range of products including Loans, Bonds, Equities, CDS, Interest Rate Swaps, Aviation Leases and Trade Claims. Key priorities for our team include proactive execution of controls, accurate reporting and analysis of financial results and forging strong relationships with business partners to assist in decision making.
Responsibilities
- Supports with preparing and analyzing 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
- Performs month-end close and financial reporting, critical testing and calculations, and periodic analysis
- Assists in the development of strategic and annual planning efforts and implementations and performs profitability analysis, forecasting, and financial reporting for a product or general ledger account type
- Partners closely with the front office, Operations, and Technology to support defining business finance processes and implementing related technology solutions
- 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
Requirements
- Minimum 2-3 years of experience in financial industry/banking experience
- Experience with Distressed products
- Strong financial analytics experience
- Advanced experience/skills with Excel and complex spreadsheets
- Candidate must be able to work both independently and as team member
- Strong communication and presentation skills
- Strong problem solving and analytical abilities
Nice-to-haves
- Bachelor Degree in Accounting/Finance
Benefits
- Industry-leading benefits
- Access to paid time off
- Resources and support to employees
