BFC Product Associate - XVA Desk

Employer
Bank of America Merrill Lynch
Location
New York, USA
Salary
Competitive
Posted
May 15, 2021
Closes
May 29, 2021
Ref
11006290
Job Function
Accounting/Audit/Tax
Industry Sector
Finance - General
Employment Type
Full Time
Education
Bachelors
Job Description:

The XVA Desk focuses primarily on pricing and hedging counterparty credit and funding risks associated with exposures on OTC derivatives executed with corporate and commercial end-users. Credit valuation adjustment, CVA, is the value of the expected credit loss on an OTC derivative transaction due to default risk. Funding Valuation Adjustment (FVA) is the present value of expected, accrued funding costs for the life of a trade or portfolio. The XVA Desk will charge covered lines of business for the CVA/FVA exposure and the risk associated with the exposure will be managed by the XVA Desk.

Key Responsibilities
  • Substantiate the official daily P&L explain for one (or multiple asset classes). Oversight of trader T0 flashes and estimate to official T+1 P&L variances as business unit level.
  • Daily Pnl production and analysis for CVA
  • Preparation monthly & quarterly revenue commentary to senior management and regulators.
  • Review of changes to daily balance sheet & substantiation to transactional activity.
  • Daily interaction with the Front Office Trading desk and collaboration with other support teams.
  • Balance sheet analysis (capital, liquidity, exposures etc.) including inventory aging and its reporting.
  • Month end close, including Financial Disclosures, reconciliations and journal entries.
  • Quarterly disclosures (Fair Value, Fin 45, etc.).
  • Preparation of the daily/monthly/quarterly management reporting for senior manager.
  • Various strategic initiative participation and engagement.
  • Production and analysis of monthly Valuation Adjustments and Independent Pricing.
Required Skills
  • BS/BA Degree required (Finance, Accounting required)
  • Experience within the financial services industry
  • Control focus, strong financial analytics experience, hands on experience with complex structures and exotic products
  • Strong communication and presentation skills
  • Good business partnering skills
  • Experience with Microsoft Excel
Desired Skills
  • MBA, CPA, CFA, or other advanced certification
  • Fixed income or derivative experience preferred
  • 5+ years of experience within financial services is preferred
  • Several years of experience working in a product control function


Job Band:
H5

Shift:
1st shift (United States of America)

Hours Per Week:
40

Weekly Schedule:

Referral Bonus Amount:
0
Job Description:

The XVA Desk focuses primarily on pricing and hedging counterparty credit and funding risks associated with exposures on OTC derivatives executed with corporate and commercial end-users. Credit valuation adjustment, CVA, is the value of the expected credit loss on an OTC derivative transaction due to default risk. Funding Valuation Adjustment (FVA) is the present value of expected, accrued funding costs for the life of a trade or portfolio. The XVA Desk will charge covered lines of business for the CVA/FVA exposure and the risk associated with the exposure will be managed by the XVA Desk.

Key Responsibilities
  • Substantiate the official daily P&L explain for one (or multiple asset classes). Oversight of trader T0 flashes and estimate to official T+1 P&L variances as business unit level.
  • Daily Pnl production and analysis for CVA
  • Preparation monthly & quarterly revenue commentary to senior management and regulators.
  • Review of changes to daily balance sheet & substantiation to transactional activity.
  • Daily interaction with the Front Office Trading desk and collaboration with other support teams.
  • Balance sheet analysis (capital, liquidity, exposures etc.) including inventory aging and its reporting.
  • Month end close, including Financial Disclosures, reconciliations and journal entries.
  • Quarterly disclosures (Fair Value, Fin 45, etc.).
  • Preparation of the daily/monthly/quarterly management reporting for senior manager.
  • Various strategic initiative participation and engagement.
  • Production and analysis of monthly Valuation Adjustments and Independent Pricing.
Required Skills
  • BS/BA Degree required (Finance, Accounting required)
  • Experience within the financial services industry
  • Control focus, strong financial analytics experience, hands on experience with complex structures and exotic products
  • Strong communication and presentation skills
  • Good business partnering skills
  • Experience with Microsoft Excel
Desired Skills
  • MBA, CPA, CFA, or other advanced certification
  • Fixed income or derivative experience preferred
  • 5+ years of experience within financial services is preferred
  • Several years of experience working in a product control function


Job Band:
H5

Shift:
1st shift (United States of America)

Hours Per Week:
40

Weekly Schedule:

Referral Bonus Amount:
0
Job Description:

The XVA Desk focuses primarily on pricing and hedging counterparty credit and funding risks associated with exposures on OTC derivatives executed with corporate and commercial end-users. Credit valuation adjustment, CVA, is the value of the expected credit loss on an OTC derivative transaction due to default risk. Funding Valuation Adjustment (FVA) is the present value of expected, accrued funding costs for the life of a trade or portfolio. The XVA Desk will charge covered lines of business for the CVA/FVA exposure and the risk associated with the exposure will be managed by the XVA Desk.

Key Responsibilities
  • Substantiate the official daily P&L explain for one (or multiple asset classes). Oversight of trader T0 flashes and estimate to official T+1 P&L variances as business unit level.
  • Daily Pnl production and analysis for CVA
  • Preparation monthly & quarterly revenue commentary to senior management and regulators.
  • Review of changes to daily balance sheet & substantiation to transactional activity.
  • Daily interaction with the Front Office Trading desk and collaboration with other support teams.
  • Balance sheet analysis (capital, liquidity, exposures etc.) including inventory aging and its reporting.
  • Month end close, including Financial Disclosures, reconciliations and journal entries.
  • Quarterly disclosures (Fair Value, Fin 45, etc.).
  • Preparation of the daily/monthly/quarterly management reporting for senior manager.
  • Various strategic initiative participation and engagement.
  • Production and analysis of monthly Valuation Adjustments and Independent Pricing.
Required Skills
  • BS/BA Degree required (Finance, Accounting required)
  • Experience within the financial services industry
  • Control focus, strong financial analytics experience, hands on experience with complex structures and exotic products
  • Strong communication and presentation skills
  • Good business partnering skills
  • Experience with Microsoft Excel
Desired Skills
  • MBA, CPA, CFA, or other advanced certification
  • Fixed income or derivative experience preferred
  • 5+ years of experience within financial services is preferred
  • Several years of experience working in a product control function


Shift:
1st shift (United States of America)

Hours Per Week:
40

Similar jobs

Similar jobs

  • You need to sign in to save