The role will be a Senior Financial Analyst for the Global Markets Balance Sheet and Net Interest Income Forecasting process as well as participate in various tasks for the Global Markets Stress Testing team such as Quality Assurance testing and business reviews. The role offers high visibility and works with the Front Office, Business Finance Organization (BFO), Liquidity, Capital, Balance Sheet Management, and Risk leaders to determine the best models, approaches, and variables to forecast what the revenue change would be given various economic scenarios.
The Senior Analyst will focus on specific sub lines of businesses within Fixed Income, Currencies, and Commodities (FICC) and Equities. As a subject matter expert on the balance sheet for their businesses, they will work with BFO's on updates to portfolio yields, understand recent portfolio trends and potential market impacts. The individual will lead all stress testing, recovery, and resolution for their businesses. The individual is the central coordinator for the many moving parts of the Comprehensive Capital Analysis and Review (CCAR) forecasting, and the role's remit includes:
Coordinate data collection and completeness
Ensuring data accuracy
Analyze and attest to results and reasonableness
Review portfolio macro variable impacts and associated spreads for balance sheet and
Providing reporting to senior management on how to interpret the results
Provide reporting and answer questions for Enterprise Stress Testing, Legal Entity Controllers, local finance teams, and regulators
Maintaining up to date and accurate line of business model documentation
Plan, coordinate and implement medium-term and longer-term enhancements to forecast process and methodologies, including centralization of data sourcing and projections as well as introduction of new pricing models
Verify all requirements regarding quarterly cycles are followed per Enterprise Stress Testing (EST) guidelines
The individual will develop new models as required and enhance existing balance sheet models used in forecasting. This involves collaboration with Senior Finance Analysts, Business Finance Officers, and the Front Line Units. The individual will be responsible for presenting modeling results and adjusting model parameters based upon stakeholder feedback and document final modeled approaches according to Qualitative Methodology Review and Model Risk Management standards.
This is a unique opportunity to join a GBAM wide function, gain exposure to Global Markets businesses (Global Credit, Emerging Markets, Commodities, Equities, etc.) and financial drivers across the segment's products and businesses, and work with leaders across the organization. Role does require the ability and desire to be able to work extra hours at peak quarterly times, as the entire team does.
Enterprise Role Overview:
SFA in the Finance Business Support role with a specialty in Capital Markets. Key deliverables this role will focus on are
CCAR, which is the Federal Reserve's annual assessment of the capital adequacy for the largest and most complex U.S. Banks, and OCC's equivalent DFAST requirement. This review also includes quarterly review and challenge of stress testing results with Finance Executives, FLU Head, and other members of BAC senior management teams.
Annual Global Markets recovery options refresh. This includes annual review of impacts of existing options, review of potential new options, and review and challenge of recovery option results with Finance Executives, FLU Head, and other members of BAC senior management teams.
Global Markets resolution plan submission to the regulators, including the bi-annual submission of the 165(d) plan for Bank of America resolution. This review also includes review and challenge of resolution results with Finance Executives, FLU Head, and other members of BAC senior management teams.
Minimum of 2+ yrs in Finance
Using strong analytical, critical thinking, communication, and problem solving skills to lead or facilitate discussions across various levels of stakeholders/support partners to provide impactful analysis on forecast results;
Ability to manage multiple projects at the same team and communicate across an array of stakeholders
Experience in Automation
Understanding/ability to work with complex Excel Spreadsheets
Strong verbal communication, relationship building and people skills
Forecasting, especially scenario forecasting, and performance testing/enhancing models;
Exposure to financial products, concepts and businesses
Ability to multi-task and make changes under tight deadlines
Programming experience (Preferably in R, Python, or SQL) and understanding of database functionality
1st shift (United States of America)
Hours Per Week:
Internal Number: 21059857
About Bank of America
Bank of America is one of the world’s leading 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. The company offers industry-leading support to approximately 3 million small business households through a suite of innovative, easy-to-use online products and services. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world.