Job Description:
Job Title: Senior Product Control – Equities
Corporate Title: Vice President
Location: London
Company Overview:
At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day.
One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We’re devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.
Bank of America believes both in the importance of working together and offering flexibility to our employees.
Location Overview:
Our London office is based just a stone’s throw from the magnificent St. Paul’s Cathedral on bustling King Edward Street. Here you’ll find modern workspaces and a state-of-the-art auditorium space. In addition, we’re proud to host an onsite restaurant that shares our commitment to sustainability. Your physical wellness is well-catered for with our onsite gym facilities and medical centre.
The Team:
The Equity Client Solutions Business, Finance Analysis team is comprised of 20 dedicated professionals, with associates based in both London and Chester. The primary function of the Equity Business, Finance Management & Strategy team is to provide control & business advisory guidance.
Responsibilities:
Daily P&L & Balance Sheet – Reporting & Oversight:
* Preparation of daily P&L commentary and substantiation based on market events
* Review of material new deals
* Calculation of valuation adjustments & reserves, with responsibility over corresponding substantiation and commentary
* Review of changes to daily balance sheet & substantiation based on transactional activity
Core Financial Oversight Functions:
* Independent price verification analysis and reporting (daily, weekly, monthly)
* Weekly, Monthly & Quarterly revenue commentary
* Maintaining valuation adjustment & reserve calculations
* Balance sheet analysis (capital, liquidity, exposures etc.) including inventory aging, and reporting
* Determining and implementing appropriate accounting policies & procedures
* Managing key accounting, legal entity, regulatory and P&L issues with the business
* Month end close, including Financial Disclosures
* Exercise of control oversight on behalf of the business
* Participation in the New Product Review and Appropriation Request processes
* Contributing to Governance process, operational error reporting and support of other internal control processes
* 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
* 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
What we are looking for:
* Degree educated or equivalent
* Qualified CFA or Accountant (ACA, ACCA, CIMA or equivalent)
* Previous CFO Banking experience
* Good working knowledge of accounting concepts
* Good understanding of Product Control and IPV function
* Knowledge of Derivative Exotic products
* Proven Excel skills with the ability to build and use spreadsheets
* Demonstrable risk identification and management skills
Benefits of working at Bank of America: UK
* Private healthcare for you and your family
* Competitive pension plan, life assurance and group income protection cover
* 20 days of back-up childcare and adult care per annum
* The ability to change your core benefits and select a variety of flexible benefits
* Access to an emotional wellbeing helpline and mental health first aiders
* Access to an Employee Assistance Program for confidential support
* Ability to donate to charities of your choice directly through payroll
* Opportunity to access our Arts & Culture corporate membership program
* Opportunity to give back to your community through volunteering
Bank of America:
Good conduct and sound judgment is crucial to our long term success. We are an equal opportunities employer and ensure that no applicant is subject to less favourable treatment on the grounds of any protected characteristic.
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