Assistant Vice President, Senior Finance Analyst, Business Finance & Control
Bank of America Corporation
Hong Kong

About Bank of America Merrill Lynch :

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 40 countries.

In the U.S alone, we serve almost all Fortune 500 companies and approximately 59 million consumers and small-business customers.

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 23 offices 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.

Bank of America Merrill Lynch is committed to attracting, recruiting and retaining top diverse talent from across the globe.

Our diversity and inclusion mission is to actively promote an inclusive work environment where all employees have the opportunity to achieve personal success and contribute to the growth of our business.

Each of our global Employee Networks bring together employees, create dialogue and awareness in support of our Diversity and Inclusion mission.

Bank of America Merrill Lynch is an equal opportunities employer.

Position Description

As an AVP 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.

More detailed characteristics you will be expected to display are described below.

The team carries out the Business Finance and Control function in support of the Asia FICC Emerging Markets trading business.

The functions of the team includes :

  • Daily P&L attributes review, reporting and analysis
  • P&L reporting covering various aspects including regulatory, VAR and Volcker
  • Significant new transaction review and substantiation
  • Front to back reconciliation and control
  • Valuation monitoring and control
  • Independent price verification
  • Valuation adjustment and reserve calculations
  • Financial analysis on revenues, expenses, RWA, capital and KPIs
  • Financial forecasting
  • Business advisory for sustainable growth and scarce resource management
  • New products review and approval
  • Month-end ledger close
  • Balance sheet monitoring and substantiation
  • Quarterly financial regulatory reporting and disclosures
  • Liaise with auditors and regulators (local, US and UK)
  • Product coverage includes FX Spot / Forwards, Swaps, Futures, Options and Securities
  • Our vision is to be flawless at control, effective and efficient processors and credible business advisors.

    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 including Traders, Sales and COOs and other key stakeholders i.

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

    P&L Reporting / Analysis

  • Detailed P&L analysis at attribute level and provide explanations for drivers e.g. market move, new deals, book remarks etc.
  • Oversee and support P&L production team in India. Assist the team with issue solving
  • Complete daily reconciliation of estimate to actual, and provide explanations for material differences
  • Complete month-end financial legal close, explaining significant drivers and variances between estimates and actuals
  • Work with Front Office, Technology and Operations on the issues with booking, system set up and settlement related issues
  • Balance Sheet Reporting

  • Ensure accuracy of balance sheet including analytical review on significant movements
  • Decomposition of balance sheet for the business, identifying opportunities to reduce adjusted assets
  • Complete month-end balance sheet reporting, explaining movements and variances between estimates and final results
  • Ensure validity of allocated / attributed balances as well as funding transfer pricing from Treasury
  • Operational Effectiveness

  • Leading role in driving initiatives and projects, including automation and process enhancement;
  • Ensuring effective control and supervisory process in accordance with global standard guideline
  • Ensuring a minimum of manual, bespoke processes are maintained. Ensure a strategic solution is being sought.
  • New Product Review

  • Involvement in completion of New Product Review documentation for new businesses / products. Review the implication and impacts of the products from Finance aspects and
  • Price Verification and Valuation control

  • Perform Independent Price Verification.
  • Calculate / validate Valuation Adjustments including liquidity, model and deal specific
  • Work with Desk and Global Valuation Group on valuation related issues including material price verification variances, setting up methodology for IPV and VA, changes to the model and / or market data inputs and issues with system valuations.
  • Business Partnering

  • Financial analysis and advisory to Business
  • Regular independent price review meeting, escalating issues, and tracking closure
  • Required

  • Must have Bachelor’s degree
  • Over 5 years work experience with market related products
  • Good working knowledge of accounting concepts
  • Control focused, analytical, team oriented, attention to detail
  • Self-driven with proven relationship management experiences
  • Comfortable working in a fast paced deadline driven environment
  • Strong communication skills both verbal and written
  • Strong Excel skills
  • CPA or CFA
  • Valuation and / or accounting experiences with FICC products
  • Product Control experience with Market products
  • VBA skills
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