Assistant Vice President, Senior Finance Analyst, Business Finance & Control
About Bank of America Merrill Lynch:
Our purpose as a firm is to make financial lives better, through the power of every connection. Across the world, we partner with leading corporate and institutional investors through our offices in more than 40 countries. In the U.S alone, we serve almost all Fortune 500 companies and approximately 59 million consumers and small-business customers. We provide a full suite of financial products and services, from banking and investments to asset and risk management. We cover a broad range of asset classes, making us a global leader in corporate and investment banking, sales and trading.
Connecting Asia Pacific to the World
Our Asia Pacific team is spread across 23 offices in 12 markets. We are focused on connecting Asia to the world and the world to Asia, using our global expertise to ensure success is shared between us, our clients and our communities. Our regional footprint covers 12 currencies, more than a dozen languages and five time zones, placing us firmly among the region's leading financial services companies.
Bank of America Merrill Lynch is committed to attracting, recruiting and retaining top diverse talent from across the globe. Our diversity and inclusion mission is to actively promote an inclusive work environment where all employees have the opportunity to achieve personal success and contribute to the growth of our business. Each of our global Employee Networks bring together employees, create dialogue and awareness in support of our Diversity and Inclusion mission.
Bank of America Merrill Lynch is an equal opportunities employer.
The APAC FICC team carries out the Business Finance and Control function in support of the regional LOB trading businesses primarily in Emerging Markets, Credit & Special Situations and Rates.
The BFC core responsibilities include but not limited to the following functions:
- P&L review, analysis, commentary, reporting and oversight
- New transaction review and substantiation as part of the due diligence process
- Front to back reconciliation and control
- Independent price verification
- Valuation adjustment and reserve calculations
- Management reporting (revenue and expense analysis)
- Ad hoc and value added business support
- Month-end book close
- Balance sheet control
- Financial disclosure reporting
- Management of scarce resources
Our vision is to be credible business advisors, flawless at the basics, and relentless focus on operational excellence and controls.
The business is constantly evolving and moving into new markets and products. Business Finance & Control plays a key role in enabling business activity in a robust control environment. You will be actively encouraged to develop close working relationships with the business and other key stakeholders i.e. Market Risk, Legal Entity Controllers, Accounting Policy, Operations, Audit, Tax, Treasury, Technology.
- Report daily balance sheet estimates, ensure accurate and timely reporting including analytical review on significant movements and balances
- Decomposition of balance sheet for the business, identifying opportunities to reduce adjusted assets
- Complete month-end balance sheet reporting by internal deadlines, explaining movements or variances between estimates and final results
- Ensure all balance sheet accounts are reconciled, escalating variances.
- Ensure all reserve balances and valuation adjustments are reconciled and appropriately authorized
- Ensure validity of allocated/attributed balances as well as internal funding charge
- Leading role in driving team projects, including automation and process enhancement;
- Ensure all front to back breaks are understood, and escalated in accordance with standards
- Ensuring a minimum of manual, stand alone processes are maintained. Where tactically used, ensuring a strategic solution is being sought.
- Accurate analysis and recording of operational loss events;
New Product Development
- Involvement in completion of New Product Review documentation for new businesses / products proposed by your trading desk, and the implementation of systems and process changes / improvements that are required
Price Verification and Valuation adjustment
- Perform independent price testing
- Calculate/validate valuation adjustments and reserves
- Working with the business and Global Valuation Group on valuation related issues
- Monitor and analyze material reserve movements
- Advising on various elements such as accounting, funding and capital that impact business performance
- Regular independent price review meeting, escalating issues, and tracking closure
- Must have Bachelor's degree
- Over 4 years work experience with market related products
- Good working knowledge of accounting concepts
- Control focused, analytical, team oriented, attention to detail
- Self-driven with proven relationship management experiences
- Comfortable working in a fast paced deadline driven environment
- Strong communication skills both verbal and written
- Strong Excel skills with ability to build and use spreadsheets
- CPA or CFA is preferred but not required.
- Securities, derivative and loan products
- Valuation experience preferred
Posting Date: 04/10/2018
51 KWAI CHEONG ROAD - KOWLOON COMMERCE CENTER TOWER 2
- Hong Kong
Full / Part-time: Full time
Hours Per Week: 40