Financial Analyst - Business Support

Employer
Bank of America Merrill Lynch
Location
London, United Kingdom
Salary
Competitive
Posted
Mar 14, 2018
Closes
Mar 16, 2018
Job Function
Accounting/Audit/Tax
Industry Sector
Finance - General
Employment Type
Full Time
Education
Bachelors
Job Description:
Corporate Title: Assistant Vice President
Location: London
Line of Business: Global Rates

Our London Office are currently looking for a Finance Analyst to join their team. The primary function of the finance team is to provide control & business advisory guidance. Key business partners are Valuation Methodology (GVG), trading desk, credit & market risk, regulatory group and the RWA team. The team supports the Non-linear Rates businesses which trade a variety of FX and interest rate products.

As a Finance Analyst your responsibilities will include:
  • Daily P&L Production & EOD/Monthly Reporting
  • Understanding of P&L Explain (Delta, Vega, Gamma, etc.)
  • Investigation of breaks between trader estimate and actual P&L
  • Daily P&L Sign Off by Front Office
  • Break analysis and reconciliation between Source System, Subledger and General Ledger
  • Cash Reconciliation, ARAPs analysis and resolution
  • Balance Sheet substantiation and sign off
  • Ensure that all correct control procedures are adhered to and a full audit trail is recorded and maintained at all times.
  • Assist in the streamlining and enhancement of all Product Control processes and become actively involved with system development ranging from technical enhancements, new product release and automation of existing processes.
  • Price verification (daily, weekly, monthly) with communication to stakeholders (including the desk)
  • Calculation of valuation adjustments & reserves and ensuring appropriately reflected in ledger
  • Maintaining/updating policy and procedures for valuation adjustment & reserves, and price verification.
  • Review of risks across portfolios and ensuring that all policies / procedures are appropriately applied
  • Identify opportunities to streamline existing practices
  • Engagement in the design, build, testing, and implementation of new Technology Platforms & Systems.
  • Working with GVG group on valuation reviews in developing price verification & reserving methodology and practices
  • Engage with Accounting Policy Group to implement appropriate accounting policies & procedures
  • Review & enhancement of the PL explain processes, ensuring all market risks are appropriately detailed
  • Managing key accounting, legal entity, regulatory and P&L issues with the business.
  • Month end close, including Financial Disclosures (e.g. FAS157)
  • Exercise of valuation control oversight on behalf of the business.
  • Participation in the New Product Review processes
  • Contributing to Governance process, operational error reporting and support of other internal control process, including SOX

As a Finance Analyst your skills/competencies will include:

Skills:
  • Preferably Qualified Accountant (ACA, ACCA, CIMA or equivalent) or CFA with good working knowledge of accounting concepts
  • Experienced of derivatives in particular vanilla and complex FX and Interest Rate derivatives
  • Investment banking experience (desirable)
  • Good Excel skills with the ability to build and use spread sheets
  • Demonstrable risk identification and management
  • Ability to communicate with a diverse audience (trading desk, GVG, middle office & market risk)

Competencies:
  • Applies Financial Accounting & Reporting Expertise
  • Applies Financial Analysis and Reasoning Skills
  • Demonstrates Accounting Knowledge
  • Demonstrates Financial Acumen

About Bank of America Merrill Lynch

Bank of America is one of the world's leading financial institutions, serving individual consumers, small- and middle-market businesses, large corporations and governments with a full range of financial and risk management products and services. Bank of America Merrill Lynch is the marketing name for the global banking and markets businesses.

The company has had a presence in EMEA since 1922. With offices in 23 countries on three continents, it offers an integrated and comprehensive set of products and services across Global Corporate and Investment Banking, Global Markets and Consumer Card, serving the needs of individual, corporate, institutional and government clients, combining the best of local knowledge and global expertise. Developing solutions for social and environmental challenges is at the core of Bank of America Merrill Lynch's responsibility platform. In more than 90 countries around the world, we partner with employees, clients and stakeholders to help make financial lives better.

Apply

If you are interested in this opportunity please send your details to us by applying online with your CV.

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 mindset are the cornerstones of our Code of Conduct and are at the heart of managing risk well.

As part of our standard hiring process to manage risk, please note background screening checks will be conducted on all hires before commencing employment.

We are an equal opportunities employer, and ensure that no applicant is subject to less favourable treatment on the grounds of gender, gender identity, marital status, race, colour, nationality, ethnic or national origins, age, sexual orientation, socio-economic background, responsibilities for dependants, physical or mental disability. The Bank selects candidates for interview based on their skills, qualifications and experience.

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