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BFC Product Associate - Municipal Finance Group, New York, New York

Created 05/04/2021
Reference 21014358
Category Finance
Job type Full Time
Country United States
State New York
City New York
Zip 10001
Salary Competitive
Job Description:

Main Responsibilities
Responsible for directing the day-to-day finance activities for a business unit or associate area. Activities include strategic and annual planning and implementation, profitability analysis, forecasting and financial reporting. Manages partner relationships and associates. In addition to supervisory / administrative duties, individuals are actively involved in the execution of processes. Assists management in the development and implementation of policies and procedures.

Role Details
This role is to represent Finance in supporting the Municipal Banking and Markets. As BFC Senior Product Associate, you will be expected to lead and inspire team members, collaborate with the desk and other business partners, impose structure on complex issues and focus on delivering solutions in line with the long term strategic goals of the bank.
Responsibilities will include the following:

Daily P&L & Balance Sheet - Reporting & Oversight

  • Production and/or review of official daily P&L explain and its provision for VaR backtesting
  • Approval of daily sub-ledger P&L generated by Middle Office for reporting into Greensheets
  • Responsibility for daily management adjustments to P&L
  • Daily P&L reporting to local and regional management
  • Oversight of trader estimate to official T+1 P&L variances as business unit level
  • Preparation of daily P&L 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 P&L 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: modeling 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

Required Skills
  • Bachelor's degree required
  • 5+ years of finance or fixed income products experience
  • Excel, VBA, and Microsoft office suite experience
  • Ability to act independently
  • Strong understanding of fixed income products or structured products
  • Strong Excel skills. VBA and/or SQL skills a plus.
  • Must be able to fully understand the impact of current and future IT developments on existing P&L processes and play a role in their implementation.
  • Is able to see the big picture, to identify non-optimal processes, to propose solutions and to implement them within timelines and cost constraints.
  • Ensures effective planning and execution of client deliverables on a timely basis


Shift:
1st shift (United States of America)

Hours Per Week:
40
Learn more about this role
Employer Bank of America

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