Sr. BFC Product Associate - XVA - Global Banking and Markets
Company: Bank of America Corporation
Location: New York
Posted on: May 16, 2022
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Job Description:
Job Description:
We're a culture that:
The Chief Financial Officer (CFO) Group is responsible for the
overall financial management of our company. This includes
accounting, financial and regulatory reporting, balance sheet
management, financial planning and analysis, treasury, investor
relations, corporate investments and tax
Global Banking and Markets Finance strives to be a valued business
partner to the company's trading, corporate and institutional
banking businesses. Our first priority is to operate a series of
key control processes to ensure the integrity of GBAM's financial
results. Then we build on these activities to offer performance
insight to business leaders. The assets of Finance are its
people.
Business Finance Officers/Control (BFO/BFC) Partners directly with
our Front Office LOBs providing strategic guidance and insight;
Performs the product control function to ensure the integrity of
our financial results
Team/Overview:
The Counterparty Portfolio Management (CPM) finance team is part of
the GBAM CFO organization. The CPM desk manages XVA on Global
Markets derivative portfolio, this consist of CVA (counterparty
credit), DVA (own credit), FVA (funding) and any other related
future pricing components on the derivative portfolio.
The primary focus of our team is to
1) Review valuations and perform price testing on XVA portfolio
2) Review and analyze the P&L and risk drivers
3) Review the month end close and perform quarterly disclosures
related to XVA
4) Determine revenue recognition and new deal analysis along with
interacting with other finance groups to understand XVA impact on
new deals
Our business partners include the XVA trading desk. Key priorities
for our team are ensuring the financial controls are in place for
the XVA trading desk, provide feedback to the desk on price
testing, valuation adjustments and daily, weekly and monthly PnL
events, review the effectiveness of hedging and reviewing impact on
new deals.
Specific description:
The candidate will work within the FVA-C Business Finance & Control
team and will need to build a strong relationship with the business
and other support functions. Strong communication skills, and a
technical background in Global markets trading businesses,
preferably XVA related.
The role will include the following:
The teammate in this role will see firsthand how current and future
market and regulatory changes impact derivative pricing and
valuations. In addition, the individual will be actively involved
in discussions/process of XVA valuation changes in a dynamic
environment.
Required Skills
Desired Skills
Shift:
1st shift (United States of America)
Hours Per Week:
40
Keywords: Bank of America Corporation, New York , Sr. BFC Product Associate - XVA - Global Banking and Markets, Accounting, Auditing , New York, New York
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