Officer – Finance Analyst – Finance Business Support recruitment

As a company serving clients in more than 90 countries, and with almost 280,000 employees, Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.

Bank of America Merrill Lynch is the marketing name for the Global Banking and Global Markets businesses. The company is a long-established participant in EMEA with a presence since 1922. With offices in over 30 cities throughout the region, Bank of America Merrill Lynch offers an integrated and comprehensive set of products and services across Global Corporate Investment Banking, Global Markets, Wealth Management and Consumer Card, serving the needs of individual, corporate, institutional and government clients, combining the best of local knowledge and global expertise.

At Bank of America Merrill Lynch, we encourage a diverse, inclusive workplace. This gives us the business advantage of understanding and meeting the needs of our diverse clients and shareholders, and provides fresh ideas and perspectives, which promote ingenuity. We strive to empower all employees to excel on the job and reach their full potential, and we reward and recognise individuals based on performance and results.

EMEA Chief Financial Office acts both as a control function and a valued business advisor by providing expertise in the following areas:

• Business Unit Finance

• Price Verification

• Legal Entity Control

• Financial Planning and Analysis

• Corporate Reporting

• Capital Planning / Regulatory Reporting

• Finance Infrastructure

We are committed to the development of our people through:

• Career progression and internal mobility

• Internal targeted training as well as assisted study for professional qualifications

• Work life balance

• Special interests such as volunteering and the environmental working group

• Social activity

With your ambition, we will constantly develop your skills to enable you to reach your full potential.

Bank of America Merrill Lynch offers a number of outstanding career opportunities designed to attract and retain all skill levels – a chance for both personal and professional development as well as a salary and benefit package designed to reflect the individual’s contribution.

A more detailed description of each area can be found on Bank of America Merrill Lynch’s career website: http://ig12.i-grasp.com/fe/tpl_bankofamerica06.asp?newms=jjid=80688----JOB-PREVIEW-MODE----

Reference number: CHS01322

Responsibilities:

As an Officer you will be expected to produce and take ownership for the main functions outlined below.   In addition you are expected to develop a solid understanding of the business, drive execution, sustain intensity and optimism and live BAML key values and culture.  

Daily PL Balance Sheet – Reporting Oversight

• Production and/or review of official daily PL explain and its provision for VaR backtesting.

• Approval of daily sub-ledger PL generated by Middle Office for reporting into Greensheets.

• Responsibility for daily management adjustments to PL

• Daily PL reporting to local and regional management.

• Oversight of trader estimate to official T+1 PL variances as business unit level.

• Preparation of daily PL commentary and substantiation to market events.

• Review of material new deals.

• Review and approval of changes to valuation adjustments reserves.

• Review of changes to daily balance sheet substantiation to transactional activity.

Core Financial Oversight Functions

• Price verification (daily, weekly, monthly).

• Validation of appropriate application and use of models for books records.

• Monthly quarterly revenue commentary.

• Maintaining/updating valuation adjustment reserve policies.

• Balance sheet analysis (capital, liquidity, exposures etc) including inventory aging and its reporting.

• Determining and implementing appropriate accounting policies procedures (with Accounting Policy).

• Managing key accounting, legal entity, regulatory and PL issues with the business.

• Month end close, including Financial Disclosures and calculation and recording of netting entries

• Exercise of control oversight on behalf of the business.

• Participation in the New Product Review and Appropriation Request processes: modelling structures and process scenarios, review, and control.

• Contributing to Governance process, operational error reporting and support of other internal control process, including SOX.

• Provision of financial expertise in the design, build, testing, and implementation of new Technology Platforms and Systems.

Planning Reporting

• Act as key member and advisor to Line of Business Senior Management team, providing decision support analysis and advice on the optimisation of business activities with regards to accounting rules, regulatory issues and legal entity structures.

• Development and analysis of key performance metrics

• Participation in the formulation of business strategy; plans; budgets; and forecasts.

• Provide regular updates, analytics and commentary on Line of Business performance.

• Manage the expense approval process for both deal-related and organisational expenses; provide expense analytics and assist the business with recovering deal-related expenses.

Provide regular updates, analytics and commentary on the GBAM’s externally disclosed quarterly performance.

Requirements:

• Part qualified / qualified Accountant (ACA, ACCA, CIMA or equivalent) with good working knowledge of accounting concepts or a relevant degree

• Excel: Able to build and use spreadsheets

Know the Business:    

• Strategic Thinking:  Solid understanding of business strategy.

• Customer /Client: Maintains unwavering focus on delighting the customer/client; demonstrates sense of urgency, dedication and passion for exceeding the expectations of internal/external customers/clients; earns customer/client loyalty through accuracy, efficiency, courtesy and show.

Drives Execution:

• Business Results: Exhibits strong drive for results and success; conveys a sense of urgency to achieve outcomes and exceed expectations; applies functional expertise

• Manages Risk: Thoroughly analyzes opportunities and issues and then takes appropriate action.

Leads People

• Fosters collaboration among team members and business partners.

• Develops strong interpersonal alliances at appropriate levels

• Communicates clearly.

Sustains Intensity Optimism

• Takes ownership: Takes pride in their work, follows through on commitments.

• Courage: Displays personal courage. Voices opinion even when it is unpopular.

• Embraces Change: Continuously learns and adapts to change.

Lives Values/ Culture

• Lives our company’s values acting as an example to others.

• One Team:  Operates as part of a team with one team agenda to exceed client expectations.

• Values People:  Treats others with dignity and respect. Adheres to highest standards of conduct/integrity.

Desirable

• Product Knowledge:  Ability to demonstrate an interest in trading products risk and valuation.

• Access knowledge