Job Description:

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.

One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We’re devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.

Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.

Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us!

Team Overview:

• 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. Their first priority is to operate a series of key control processes to ensure the integrity of GBAM's financial results. Then they build on these activities to offer performance insight to business leaders

• Business Finance Officers/Control (BFO/BFC) partners directly with Front Office LOBs providing strategic guidance and insight and performs the product control function to ensure the integrity of financial results

• The Americas Rates Team in New York supports the Interest Rates Business. This business serves corporate, financial, and individual investor customers by offering a wide variety of interest rate products. The Non-Linear Rates desk consists of a US Volatility Trading Desk, an Inflation Desk and a Structured Notes Desk. These desks provide clients access to various derivatives options and structured products for enhanced yield/capital growth performance through higher risk structured transactions in either OTC contracts or securitized products. This team provides valuation and Independent Price Verification (IPV) support covering the Global Banking and Markets Business.

Key Responsibilities:

• Perform Independent Price Verification (IPV) of vanilla and complex financial instruments

• Work closely with Traders, Market Risk, Model Risk Management, Front Office Quants, Product Controllers, and Senior Managers on Valuation related matters. Communicate complex valuation matters to Senior Management, Auditors, and Regulators

• Leverage expert knowledge of financial markets, products, and quantitative background to critically evaluate the IPV results and support resolution of IPV differences

• Define Fair Value Hierarchy classification and justification, i.e. create the framework for a given product, risk, or portfolio as appropriate

• Support Front Office Model Governance through the review of model limitations and potential impact on Fair Value

• Substantiate the official daily P&L explain and its provision for VaR backtesting. Oversight of trader T0 flashes and estimate to official T+1 P&L variances as business unit level

• Preparation monthly & quarterly revenue commentary to senior manager and regulator

• Review of material new deals

• Review of changes to daily balance sheet & substantiation to transactional activity

• Balance sheet analysis (capital, liquidity, exposures etc.) including inventory aging and its reporting

• Month end close, including Financial Disclosures and calculation and recording of netting entries

Required Skills:

• Bachelor's degree, ideally focused on a quantitative discipline - or related work experience

• 8+ years at a previous large, complex financial services organization performing valuation control, risk management, or model development with technical product expertise

• 4+ years of valuations or financial modeling experience, with proven understanding of securities, derivatives, debt and other structured products analysis/valuations

• Control focus, strong financial analytics experience, comfortable with complex products

• Strong communication and presentation skills

• Good business partnering skills

Desired Skills:

• Advanced experience skills with Excel and complex spreadsheets

Shift:

Hours Per Week: