Job Description:
Job Title: Product Controller
Location: London
Corporate Title: Up to Vice President
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.
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Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.
Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us!
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 by providing delicious seasonal menus which have been created with the planet in mind. Make sure to take time for yourself and head up to our rooftop terrace and take in the spectacular views across London. Finally, your physical wellness is well-catered for with our onsite gym facilities and medical centre.
Role Overview:
This role is responsible for supporting the business analysis for a Line of Business (LOB) across financial reporting, substantiation and independent price verification by working with the finance team in partnership with senior management, front office, and other business stakeholders. The role will also be responsible for forecasting and resolution planning and other business partnering activities. Key responsibilities include applying a knowledge and understanding of product(s), processes, and inherent risks of a product, business or function to analyze and substantiate Profit and Loss (P&L) attributes and balance sheets, establish infrastructure for new products, respond to regulator queries and partner with the business.
Responsibilities:
- Support the analysis and substantiation of the balance sheets and Profit and Loss (P&L) reports and validates postings and balances for a product aligned to a Line of Business (LOB) using knowledge of financial products, market risk profiles, and risk mitigation techniques and strategies
- Supports the development of strategic and annual planning and implementation, performing profitability analysis, forecasting, and financial reporting for a product or general ledger account type
- Oversees a set of product(s) or general ledger account(s) and maintains financial responsibility, including accountability for accuracy of financial reporting for Profit and Loss (P&L) activities
- Partners closely with the front office, Operations, and Technology to define business finance processes and implement related technology solutions
- Analyzes regulatory matters, such as the Comprehensive Capital Analysis and Review (CCAR) and Recovery and Resolutions Plans (RRP), and partners with the business on submissions
What we are looking for:
- Confident accounting knowledge is critical, ideally with comfort in both financial accounting and regulatory reporting concepts, with excellent attention to detail & emphasis on documentation
- Exposure to credit based fixed income financial products (bonds, loans, credit default swaps, etc)
- Proven organisational skills required to effectively to manage competing deadlines, often in a fluid environment, alongside pro-active management escalation & engagement with teammates to address ad-hoc issues
- Control focus and able to improve processes
- Comfortable using new technology systems
- Accountancy qualifications (ACA, ACCA or CIMA) preferred
Benefits of working at Bank of America:
UK
- Private healthcare for you and your family plus an annual health screen to help you manage your physical wellness with the option to purchase a screen for your partner
- Competitive pension plan, life assurance and group income protection cover if you become unable to work as a result of a disability or health reasons
- 20 days of back-up childcare including access to school holiday clubs and 20 days of back-up adult care per annum
- The ability to change your core benefits as well as the option of selecting a variety of flexible benefits to suit your personal circumstances including access to a wellbeing account, travel insurance, critical illness etc.
- Access to an emotional wellbeing helpline, mental health first aiders and virtual GP services.
- Access to an Employee Assistance Program for confidential support and help for everyday matters
- Ability to donate to charities of your choice directly through payroll and the bank will match your contribution
- Opportunity to access our Arts & Culture corporate membership program and receive discounted entry to some of the UK's most iconic cultural institutions and exhibitions.
- Opportunity to give back to your community, develop new skills and work with new groups of people by volunteering in your local community.
Bank of America:
Good conduct and sound judgment is crucial to our long term success. It's important that all employees in the organisation understand the expected standards of conduct and how we manage conduct risk. Individual accountability and an ownership mind-set are the cornerstones of our Code of Conduct and are at the heart of managing risk well.
We are an equal opportunities employer and ensure that no applicant is subject to less favourable treatment on the grounds of sex, gender identity or gender reassignment, marital or civil partner status, race, religion or belief, colour, nationality, ethnic or national origins, age, sexual orientation, pregnancy or maternity, socio-economic background, responsibility for dependants or physical or mental disability. The Bank selects candidates for interview based on their skills, qualifications and experience.
We strive to ensure that our recruitment processes are accessible for all candidates and encourage any candidates to tell us about any adjustment requirements.