Business Finance & Control Product Associate (Global Mortgages and Securitized Products)

$85,000 - $115,000 yearly
  • The Resume Review - Recruiting Department
  • New York, NY, USA
  • Jun 14, 2022
Full time Accounting Finance

Job Description

Job description
Bank of America commitment to Diversity and Inclusion statement
We’re 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
The 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.
The proposed Business Finance and Controller ("BFC") role will support daily control functions for the Origination & Lending desk within the Global Mortgages and Securitized Products (GMSP) line of business.  Coverage will span across multiple products including asset backed lending, commercial real estate securitization and Wholesale Lending to non-bank originators.  Main responsibilities of the Product Controller can include:
(1) Daily Balance Sheet analysis and commentary, P&L substantiation to market events, significant transaction review
(2) Monthly close functions, processing of journal entries, accounting adjustments, reconciliations, reserve and valuation adjustment calculations
(3) Partner with Trading Desk, Trade Support, Operations, ECM and other partners on business support including new product review, accounting assessment, issue resolution
(4) Quarterly management and regulatory reporting including fair value disclosures, revenue/balance sheet variance commentary
(5) Sarbanes-Oxley related control activities and coordination
(6) Volcker/Capital related validation activities such as Volcker balance sheet review, validation of Volcker and Capital attributes for books to ensure compliance with enterprise guidelines
(7) Working on initiatives to simplify/automate manual processes
Required Skills:
Advanced experience/skills with Excel and complex spreadsheets/large datasets
  • 3+ years financial industry/banking experience (Product Control background preferred)
  • Bachelor Degree (Accounting/Finance preferred)
  • Strong financial analytics experience
  • Candidate must be able to work both independently and as team member
  • Strong communication and problem solving abilities
Desired Skills:
  • Loan accounting experience
  • Experience with Oracle/eLedger queries and general ledger postings