Product Associate – Business Finance Control

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day. We’re devoted to being a diverse and inclusive workplace for everyone.

Our London office is based just a stone’s throw from the magnificent St. Paul’s Cathedral on bustling King Edward Street. Here you’ll find modern workspaces and a state‑of‑the‑art auditorium space. In addition, we’re proud to host an onsite restaurant that shares our commitment to sustainability by providing delicious seasonal menus which have been created with the planet in mind. Finally, your physical wellness is well‑catered for with our onsite gym facilities and medical centre.

Due to a talented individual moving locations, we are looking for a Product Associate to join our Chester based Global Markets Business Finance Control team. The team are responsible for providing accurate & timely financial information, being effective business partners, acting as the financial conscience for the bank and delivering on Operational Excellence.

• Preparation of daily P&L commentary and substantiation based on market events
• Review of material new deals
• Calculation of valuation adjustments & reserves, with responsibility over corresponding substantiation and commentary
• Review of changes to daily balance sheet & substantiation based on transactional activity

Core Financial Oversight Functions:

• Independent price verification analysis and reporting (daily, weekly, monthly)
• Weekly, Monthly & Quarterly revenue commentary
• Maintaining valuation adjustment & reserve calculations such that they’re in‑line with current policies
• Balance sheet analysis (capital, liquidity, exposures etc.) including inventory aging, and reporting (Managerial and Regulatory)
• Determining and implementing appropriate accounting policies & procedures
• Managing key accounting, legal entity, regulatory and P&L issues with the business
• Month end close, including Financial Disclosures and calculation / recording of netting entries
• Exercise of control oversight on behalf of the business
• Participation in the New Product Review and Appropriation Request processes
• Contributing to Governance process, operational error reporting and support of other internal control process, including SOX

Planning & Reporting:

• Development and analysis of key performance metrics
• Participation in the formulation of business strategy; plans; budgets; and forecasts
• Manage the expense approval process for both deal‑related and organisational expenses

Qualifications / What we look for:

• 2:1 from a UK University (or equivalent)
• Qualified/part qualified accountant (ACCA, ACA, CIMA or equivalent)
• Experience within a similar role, ideally from financial services / banking
• Good working knowledge of accounting concepts
• Knowledge of Derivative Exotic products / product control would be beneficial
• Confident Excel skills
• Ability to think laterally to find creative solutions to obstacles

Benefits of working at Bank of America – UK:

• Private healthcare for you and your family plus an annual health screen
• Competitive pension plan, life assurance and group income protection cover
• 20 days of back‑up childcare including access to school holiday clubs
• The ability to change your core benefits as well as the option of selecting a variety of flexible benefits
• Access to an emotional wellbeing helpline, mental health first aiders and virtual GP services
• Opportunity to give back to your community, develop new skills and work with new groups of people by volunteering in your local community

Bank of America is committed to an in‑office culture with specific requirements for office‑based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role‑specific considerations.