Bank of America Counterparty Portfolio Management BFC P&L Associate in New York, New York
The Counterparty Portfolio Management (CPM) BFC team supports the XVA, GLPM, and Risk optimization desks. This specific role is within the Global XVA space with primary focus being in FVA-C.
The Global XVA deskprices and hedges credit and funding risks on OTC derivatives executed with Global Markets clients (CVA and FVA), optimizes funding and capital costs of the Global Banking & Markets derivatives
portfolio across all legal entities and business units (Collateral Trading and Optimization or CTO).
Responsibilities include :
Production and/or review of official daily P&L explain
Daily P&L reconciliations between subledger, risk system and various P&L reporting systems
Responsibility for daily management adjustments to P&L
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
Monthly & quarterly revenue commentary
Review and approval of changes to valuation adjustments & reserves
Participation in the formulation of business strategy; plans; budgets; and forecasts
Managing key accounting, legal entity, regulatory and P&L issues with the business
Act as key member and advisor to Line of Business Senior Management team, providing decision support analysis and advice on the optimization of business activities with regards to accounting rules, regulatory issues and legal entity structures
Additionally, candidate would engage in various monthly/quarterly financial reporting requirements as well as numerous strategic initiatives. As time permits, candidate could also engage in various forecasting and independent pricing functions. Candidate would need to be comfortable facing off with numerous senior managers across the organization.
Qualified Accountant Preferred - strong working knowledge of accounting concepts required
Experience with building and running reconciliations required in a product control roll
Strategic Thinking: Applies sound judgment in implementing business strategy, focuses efforts on business opportunities with greatest potential or value, stays current on industry and in area of own technical expertise, demonstrates a business perspective that's much broader than one function or unit
Influence: Collaborates within business unit through effective negotiations, influencing and information sharing
Manages Risk: Thoroughly analyzes opportunities and issues and then takes appropriate action, develops action to mitigate and minimize liabilities while ensuring maximum returns
Proven ability to lead people
Model of Leadership Behaviors, recognized as an exemplar among peers
Excellent analytical and communication skills
Advanced Excel knowledge
Experience working with derivatives - fixed income derivative experience required
5 to 8 years of work experience, possibly a combination of public accounting or broker dealer experience
Posting Date : 05/17/2018
New York, NY, 250 VESEY ST (NY3004),
- United States
Travel : No
Full / Part-time : Full time
Hours Per Week : 40
Shift : 1st shift
Assistance for Applicants with Disabilities
Bank of America is committed to ensuring that our online application process provides an equal employment opportunity to all job seekers, including individuals with disabilities. If you believe you need a reasonable accommodation in order to search for a job opening or to submit an application, please visit the Applicants with Disabilities page at http://careers.bankofamerica.com/us/applicants-with-disabilities .
Diversity & Inclusion
At Bank of America, our commitment to diversity and inclusion is helping us to create not only a great place to work, but also an environment where our employees, our customers and our communities around the world can reach their goals and connect with each other. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status.
Frequently Asked Questions
Need to know how to apply online, view a list of your submitted job applications or reset your password? Visit our FAQ at http://careers.bankofamerica.com/us/faq section for answers to these questions and more.