Assistant Vice President, Business Finance and Control

Job Description:

Your background

•           Ability to build SME knowledge within the group - provide appropriate level of business, product & process training to the team

•           Strong business sense and control mindset, demonstrable risk identification and management

•           Strong analytical and problem solving skills with a demonstrated ability to analyze business processes and workflows and deliver required project to a high standard

•           Strong communication and interpersonal skills, be able to establish strong working relationships with a board range of stakeholders, ability to influence team at remote locations

•           Ability and confidence to tackle new concepts and ideas associate with ongoing change in the business

•           A ‘Can do’ attitude, self-driven and proactive, be innovative and have the ability to generate new and creative ideas

•           Attention to detail, strong Excel skills, good working knowledge of accounting concepts

•           Good understanding of Global Market business and relevant experience is preferred

•           Minimum of a Bachelor’s degree in Accounting, Finance, Quantitative Finance or Mathematics. Master’s degree, CFA, CPA preferred

•           Candidates with emerging technology (Alteryx, Tableau, Workvia) experience is preferred

What you can expect

• The APAC FICC team carries out the Business Finance and Control (BFC) function in support of the regional LOB trading businesses primarily in Emerging Markets, Global Foreign Exchange, Credit and Rates.

• The BFC core responsibilities include but not limited to the following functions:

• Valuation controls including Independent price verification and Valuation adjustment calculations

• P&L analysis

• Financial data analysis including Balance sheet, Expenses, Funding and Capital costs.

• Significant transaction review and substantiation

• Oversight on P&L production and month end close

• Provide guidance and insight based on the Financial data to Business to deliver responsible growth

• Assist Business partners in their responsibility for valuation control with independent challenges

• Understand end to end process and constantly challenge status quo for continuous improvements of control and efficiency

• Regulatory reporting and Financial disclosures to meet the U.S and local regulatory requirements

• Embrace control and governance

• Partner with Front Office, Technology, Risk Managers, Operations and Compliance to deliver sustainable strategic solution

• Our vision is to be credible business advisors, flawless at the basics, and relentless focus on operational excellence and controls.

• The business is constantly evolving and moving into new markets and products. Business Finance & Control plays a key role in enabling business activity in a robust control environment. You will be actively encouraged to develop close working relationships with the business and other key stakeholders i.e. Market Risk, Legal Entity Controllers, Accounting Policy, Operations, Audit, Tax, Treasury, Technology.

• You will be expected to have oversight on all aspects of day-to-day and month-end financials ensuring accurate, complete and timely reporting with adherence to controls and Firm policies. More detailed characteristics you will be expected to display are described below.

What you will do

Valuation Control

• Perform independent price testing to ensure fair value accounting. Analyze material variances and post valuation adjustment where needed before month end close deadline, Business Day 3.

• Calculate/validate valuation adjustments. Analyze and substantiate significant balance movement

• Partner with Business to obtain market insight, independently assess information provided by Business and collaborate with Global Valuation Group for in-depth understanding of valuation methodology to derive conclusion.

P&L Reporting/Analysis

• Analyze P&L drivers and provide comprehensive commentary and substantiation based on market events

• Understand significant P&L drivers e.g. market changes, new deals, book remarks, reserves etc.

• Provide guidance to the India team in relation to P&L production and front to back reconciliation

• Review and analyze P&L and balance sheet at each legal entity level

Business Partnering

• Develop close working relationships with the business and other key support teams including Legal Entity Controllers, Accounting Policy, Operations, Audit, Tax, Treasury, Technology and Risk Management

• Devise and provide insightful analytics to the business and Senior Finance management to facilitate meaningful business conversations and decisions to help drive the business forward

Operational Effectiveness

• Driving automation and process enhancement;

• Retain detailed comprehensive quality procedure documents

• Challenge the status quo and asking the “why” questions.

• Ensure all front to back breaks are understood, and escalated in accordance with standards

• Ensuring a minimum of manual, standalone processes are maintained. Where tactically used, ensuring a strategic solution is being sought.

• Accurate analysis on the root cause of the data issues to place a strategic remediation

Balance Sheet Reporting

• Overview of daily balance sheet, ensure accurate and timely reporting including analytical review on significant movements and balances

• Decomposition of balance sheet for the business, identify opportunities to reduce adjusted assets

• Analytical review and provide commentary based on business strategy and market events

• Ensure all adjustments are properly documented and appropriately authorized

• Ensure validity of allocated/attributed balances as well as funding charges

New Product Development

• Involvement in completion of New Product Review documentation for new businesses / products proposed by your trading desk, and the implementation of systems and process changes / improvements that are required

About Bank of America

Our purpose as a firm is to make financial lives better, through the power of every connection. Across the world, we partner with leading corporate and institutional investors through our offices in more than 35 countries. In the U.S. alone, we serve almost all of the Fortune 500 companies and approximately 67 million consumer and small-business clients. We provide a full suite of financial products and services, from banking and investments to asset and risk management. We cover a broad range of asset classes, making us a global leader in corporate and investment banking, sales and trading.

Connecting Asia Pacific to the world

Our Asia Pacific team is spread across 19 cities in 12 markets. We are focused on connecting Asia to the world and the world to Asia, using our global expertise to ensure success is shared between us, our clients and our communities. Our regional footprint covers 12 currencies, more than a dozen languages and five time zones, placing us firmly among the region’s leading financial services companies.