Sr. BFC Product Associate - VP, Multi Asset Class Process Improvement & Initiative

Employer
Bank of America Merrill Lynch
Location
New York, USA
Salary
Competitive
Posted
Jul 14, 2021
Closes
Jul 22, 2021
Ref
11484844
Job Function
Accounting/Audit/Tax
Industry Sector
Finance - General
Employment Type
Full Time
Education
Bachelors
Job Description:

The Counterparty Portfolio Management (CPM) business finance & controls team is part of the GBAM CFO organization. The CPM LOB manages XVA on Global Markets derivative portfolio, this consist of CVA (counterparty credit), DVA (own credit), FVA (funding), KVA (capital), and any other related future pricing components on the derivative portfolio. Further, the Global Asset recovery (GAR) portfolio is also part of CPM. CPM has a risk optimization desk and a loan portfolio too.

The Global Rates LOB has 10 Volcker desks that cover linear and non-linear products as well as Structured Notes and the SFT business

This role involves working closely with the head of CPM & Global Rates finance and the mgmt team in
  • implementation of new initiatives/projects
  • Review of risk measures in CPM and Rates to come up with metrics and processes that can be used as early warning signs
  • Improvements related to valuation/pricing of XVA components.
  • Position includes review of upcoming regulatory changes (UMR, FRTB, etc) market practice changes (migration to central clearing, etc) as they impact derivative valuation and revenue recognition.
  • Review revised or existing policies and work with BF&C teams to evaluate consistency of policy adherence and provide gap analysis to CPM & Rates management
  • Work to understand the impediments to achieve a consistent process and help in implementing solutions

The primary focus of our team is to
1) Review valuations and perform price testing
2) Review and analyze the PnL and risk drivers; monitor balance sheet
3) Review the month end close and perform quarterly disclosures
4) Determine revenue recognition and new deal analysis along with interacting with other finance groups to understand XVA impact on new deals
5) Review policies and improve processes

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 actively involved in discussions/process of XVA valuation changes in a dynamic environment as well as technology and process changes for both XVA and CFD.

The individual will be responsible for review of independent price testing routines, assisting in month-end close process, and assistance with implementation of new business initiatives. As part of the responsibilities of the role, the teammate will develop business partner relationships with trading desk and other support partners throughout the firm. Throughout the tenure of the role, the teammate should gain exposure and acumen in global markets area of the organization.

Required Skills
  • Master's Degree in Economics/Finance
    • Thorough understanding of the Global Markets business; understanding of derivative products and their respective risk measures and how they impact PL
  • 10+ years financial industry experience
  • Advanced experience/skills with Excel and complex spreadsheets
  • Candidate must be able to work both independently and as team member; self starter
  • Strong communication and presentation skills
  • Strong problem solving and analytical abilities (Excel/Essbase)
  • Project management experience

Desired Skills
  • MBA, CPA, CFA, or other advanced certification
  • Control focused, analytical, team oriented, comfortable with complex products
  • Experience in the counterparty credit risk arena (understanding of collateral / netting / exposures)
  • Strong financial analytics experience / Python coding / VBA code review experience would be a big plus


Job Band:
H5

Shift:
1st shift (United States of America)

Hours Per Week:
40

Weekly Schedule:

Referral Bonus Amount:
0
Job Description:

The Counterparty Portfolio Management (CPM) business finance & controls team is part of the GBAM CFO organization. The CPM LOB manages XVA on Global Markets derivative portfolio, this consist of CVA (counterparty credit), DVA (own credit), FVA (funding), KVA (capital), and any other related future pricing components on the derivative portfolio. Further, the Global Asset recovery (GAR) portfolio is also part of CPM. CPM has a risk optimization desk and a loan portfolio too.

The Global Rates LOB has 10 Volcker desks that cover linear and non-linear products as well as Structured Notes and the SFT business

This role involves working closely with the head of CPM & Global Rates finance and the mgmt team in
  • implementation of new initiatives/projects
  • Review of risk measures in CPM and Rates to come up with metrics and processes that can be used as early warning signs
  • Improvements related to valuation/pricing of XVA components.
  • Position includes review of upcoming regulatory changes (UMR, FRTB, etc) market practice changes (migration to central clearing, etc) as they impact derivative valuation and revenue recognition.
  • Review revised or existing policies and work with BF&C teams to evaluate consistency of policy adherence and provide gap analysis to CPM & Rates management
  • Work to understand the impediments to achieve a consistent process and help in implementing solutions

The primary focus of our team is to
1) Review valuations and perform price testing
2) Review and analyze the PnL and risk drivers; monitor balance sheet
3) Review the month end close and perform quarterly disclosures
4) Determine revenue recognition and new deal analysis along with interacting with other finance groups to understand XVA impact on new deals
5) Review policies and improve processes

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 actively involved in discussions/process of XVA valuation changes in a dynamic environment as well as technology and process changes for both XVA and CFD.

The individual will be responsible for review of independent price testing routines, assisting in month-end close process, and assistance with implementation of new business initiatives. As part of the responsibilities of the role, the teammate will develop business partner relationships with trading desk and other support partners throughout the firm. Throughout the tenure of the role, the teammate should gain exposure and acumen in global markets area of the organization.

Required Skills
  • Master's Degree in Economics/Finance
    • Thorough understanding of the Global Markets business; understanding of derivative products and their respective risk measures and how they impact PL
  • 10+ years financial industry experience
  • Advanced experience/skills with Excel and complex spreadsheets
  • Candidate must be able to work both independently and as team member; self starter
  • Strong communication and presentation skills
  • Strong problem solving and analytical abilities (Excel/Essbase)
  • Project management experience

Desired Skills
  • MBA, CPA, CFA, or other advanced certification
  • Control focused, analytical, team oriented, comfortable with complex products
  • Experience in the counterparty credit risk arena (understanding of collateral / netting / exposures)
  • Strong financial analytics experience / Python coding / VBA code review experience would be a big plus


Job Band:
H5

Shift:
1st shift (United States of America)

Hours Per Week:
40

Weekly Schedule:

Referral Bonus Amount:
0
Job Description:

The Counterparty Portfolio Management (CPM) business finance & controls team is part of the GBAM CFO organization. The CPM LOB manages XVA on Global Markets derivative portfolio, this consist of CVA (counterparty credit), DVA (own credit), FVA (funding), KVA (capital), and any other related future pricing components on the derivative portfolio. Further, the Global Asset recovery (GAR) portfolio is also part of CPM. CPM has a risk optimization desk and a loan portfolio too.

The Global Rates LOB has 10 Volcker desks that cover linear and non-linear products as well as Structured Notes and the SFT business

This role involves working closely with the head of CPM & Global Rates finance and the mgmt team in
  • implementation of new initiatives/projects
  • Review of risk measures in CPM and Rates to come up with metrics and processes that can be used as early warning signs
  • Improvements related to valuation/pricing of XVA components.
  • Position includes review of upcoming regulatory changes (UMR, FRTB, etc) market practice changes (migration to central clearing, etc) as they impact derivative valuation and revenue recognition.
  • Review revised or existing policies and work with BF&C teams to evaluate consistency of policy adherence and provide gap analysis to CPM & Rates management
  • Work to understand the impediments to achieve a consistent process and help in implementing solutions

The primary focus of our team is to
1) Review valuations and perform price testing
2) Review and analyze the PnL and risk drivers; monitor balance sheet
3) Review the month end close and perform quarterly disclosures
4) Determine revenue recognition and new deal analysis along with interacting with other finance groups to understand XVA impact on new deals
5) Review policies and improve processes

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 actively involved in discussions/process of XVA valuation changes in a dynamic environment as well as technology and process changes for both XVA and CFD.

The individual will be responsible for review of independent price testing routines, assisting in month-end close process, and assistance with implementation of new business initiatives. As part of the responsibilities of the role, the teammate will develop business partner relationships with trading desk and other support partners throughout the firm. Throughout the tenure of the role, the teammate should gain exposure and acumen in global markets area of the organization.

Required Skills
  • Master's Degree in Economics/Finance
    • Thorough understanding of the Global Markets business; understanding of derivative products and their respective risk measures and how they impact PL
  • 10+ years financial industry experience
  • Advanced experience/skills with Excel and complex spreadsheets
  • Candidate must be able to work both independently and as team member; self starter
  • Strong communication and presentation skills
  • Strong problem solving and analytical abilities (Excel/Essbase)
  • Project management experience

Desired Skills
  • MBA, CPA, CFA, or other advanced certification
  • Control focused, analytical, team oriented, comfortable with complex products
  • Experience in the counterparty credit risk arena (understanding of collateral / netting / exposures)
  • Strong financial analytics experience / Python coding / VBA code review experience would be a big plus


Shift:
1st shift (United States of America)

Hours Per Week:
40

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