Vice President, FICC Business Finance & Control (Fundamental Credit)
Bank of America
Hong Kong, Hong Kong

Job Description : Your background

Your background

Key Requirements / Background

  • Relevant experience in distressed asset valuation across loans, corporates and real estate. The candidate should have expertise in the construction and review of valuation and financial models including, DCF, comparable company among others
  • Good working knowledge of accounting concepts and ability to understand company financials
  • Investment banking experience
  • Strong Excel skills with the ability to build models and use spreadsheets
  • Bloomberg systems experience and
  • Experience with process improvements and risk management
  • Ability to communicate with a diverse audience at all levels (trading desk, audit, finance, middle office & market risk)
  • Prior front office experience (desirable)
  • Minimum of a Bachelor’s degree in Accounting, Finance, Quantitative Finance or Mathematics. Master’s degree, CFA, CPA preferred.
  • What you can expect

    The APAC FICC team carries out the Business Finance and Control (BFC) function in support of the regional LOB trading businesses primarily in Emerging Markets, Global Foreign Exchange, Credit and Rates.

    The APAC Credit BFC team requires an experienced and motivated professional who can provide a center of expertise for valuation methodologies and appropriate reporting of these as well as communicating to and informing senior management around valuation issues for the Distressed business.

    The Fundamental Credit Analyst’s core responsibilities include but not limited to the following functions :

  • Verify trader valuations across different distressed asset classes, which will include both quantitative and qualitative assessments.
  • Finance is expected to understand all pricing model inputs, pricing systems, theory, and expected capital markets execution.

    Finance will create its own inputs and pricing models in order to qualitatively and quantitatively assess valuation assumptions

  • Communicate opinions and recommendations to the traders and senior management. Finance is responsible for communicating conclusions and recommendations to the desk on the back of an analysis.
  • In addition, it is often called upon by senior management to summarize, at a moment’s notice, all pricing methodology

  • Implement systematic pricing processes, which needs to be set up in such a manner that they can be replicated over periods, give the ability to compare results with prior periods, and be doable by more than one member of the team
  • Deliver all pricing work in a timing matter, there will be periods of time where a large number of valuations will absolutely need to get done in a short time period
  • Produce high quality work as all price review work must be well-written and work must be presented to the candidate’s manager and front office in a clear and concise format
  • Seek improvement in existing processes, which should continually be refined. All processes must be self-audited on a regular basis, and this audit should make it clear to management where improvements are needed, suggestions for solving the weakness, and expected timeframes to put improvements in place
  • Ability to lead, the candidate should be able to drive processes as well as provide guidance to more junior members of the team
  • Valuation controls including Independent price verification and Valuation adjustment calculations
  • Significant transaction review and substantiation
  • Understand end to end process and constantly challenge status quo for continuous improvements of control and efficiency
  • Embrace control and governance
  • Our vision is to be credible business advisors, flawless at the basics, and relentless focus on operational excellence and controls.

    The business is constantly evolving and moving into new markets and products. Business Finance & Control plays a key role in enabling business activity in a robust control environment.

    You will be actively encouraged to develop close working relationships with the business and other key stakeholders i.e.

    Market Risk, Legal Entity Controllers, Accounting Policy, Operations, Audit, Tax, Treasury, Technology.

    You will be expected to lead and inspire team members, collaborate with the desk and other business partners, impose structure on complex issues and focus on delivering solutions in line with the long term strategic goals of the bank.

    Products covered include Bonds, Loans, Equities, Swaps, FX, Funding Trades and CDS. More detailed characteristics you will be expected to display are described below.

    Valuation Control

  • Perform and complete valuation of distressed assets before month end deadlines
  • Have an excellent understanding of the distressed market and the different valuation methods are that are used in this space
  • Ability to drill down and / or provide a bottoms up approach to valuation. Without this ability, the person will never be able to argue from a position of strength as the trader will be able to easily rebut arguments
  • The candidate must be highly analytical and have experience in building discounted cash flow models and have solid valuation skills around valuation multiples
  • Calculate / validate valuation adjustments. Analyze and substantiate significant balance movement
  • P&L Reporting / Analysis

  • Challenge and drive remarks where market changes or new developments impact valuation
  • Review and substantiate remarks by the Business
  • Business Partnering

  • Partner with Business to obtain market insight, independently assess information provided by Business and collaborate with Global Valuation Group for in-depth understanding of valuation methodology to derive conclusion
  • Provide regular updates, analytics and commentary on valuation issues to Business and management.
  • Regular price review meeting, escalate issues, discuss remediation and track closure
  • Influence on sustainable responsible growth
  • Operational Effectiveness

  • Excellent writing and verbal communication skills. Must clearly demonstrate the ability to logically present a given argument in written form as well as being able to articulate a given opinion concisely
  • Must also be a good listener, a problem solver, and well organized
  • Retain detailed comprehensive quality procedure documents
  • Challenge the status quo and asking the why questions.
  • Lead and drive team initiatives, including automation and process enhancement
  • Ensure a strategic solution is being sought for all manual processes
  • About Bank of America

    Our purpose as a firm is to make financial lives better, through the power of every connection. Across the world, we partner with leading corporate and institutional investors through our offices in more than 35 countries.

    In the U.S. alone, we serve almost all of the Fortune 500 companies and approximately 67 million consumer and small-business clients.

    We provide a full suite of financial products and services, from banking and investments to asset and risk management. We cover a broad range of asset classes, making us a global leader in corporate and investment banking, sales and trading.

    Connecting Asia Pacific to the world

    Our Asia Pacific team is spread across 19 cities in 12 markets. We are focused on connecting Asia to the world and the world to Asia, using our global expertise to ensure success is shared between us, our clients and our communities.

    Our regional footprint covers 12 currencies, more than a dozen languages and five time zones, placing us firmly among the region’s leading financial services companies.


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