The Finance Manager is part of the Enterprise Capital Management (ECM) team and drives the timely and accurate computation of the company's regulatory capital; researches to determine causes of unanticipated capital changes; end-to-end review, analysis, and implementation of new capital regulations; and ad-hoc analytical reporting to senior management and regulatory agencies. Success requires understanding of regulatory capital and accounting rules and the ability to formulate means by which answers may be derived from large sets of data. Tools that the group manages calculate the amount of capital required to support the asset holdings of the Bank. In addition, the Finance Manager will play a key role, as part of a project team, in the implementation of the new Basel IV (B4) and Fundamental Review of the Trading Book (FRTB) regulatory requirements. The individual in this role will gain expertise in the new body of rules replacing the current capital regulations and have a unique opportunity to make a strategic impact on the company.
ECM is a global team of more than 100 professionals responsible for the efficient and prudent management of the Corporation's as well as its subsidiaries' capital across the enterprise globally. ECM implements the Board's capital management strategy including issuance, redemption or repurchase of common stock and other capital instruments. ECM works closely with lines of business and guides them to efficiently and proactively manage the enterprise's capital including design and implementation of capital allocation methodologies. ECM also recommends capital related financial resource limits to senior management. In addition, ECM produces and monitors regulatory and internal economic capital metrics including capital adequacy ratios, leverage exposure and risk-weighted assets and oversees the end to end capital measurement process across the enterprise. Partnering with other control functions, ECM manages external disclosures related to capital management including 10Q, 10K, Pillar 3 disclosures and other regulatory filings. ECM interfaces with banking regulators globally on all capital related matters.
Responsible for building out new daily Risk Weighted Assets calculations and capabilities under B4/FRTB
Conduct and document gap assessment of current data, calculations, and controls against new regulatory requirements
Document business requirements for technology applications and partner with technology organization on solution development
Serve as subject matter expert and educate business partners on new regulatory capital requirements and drive cross-team deliverables
Drive new and enhanced B4/FRTB data sourcing, and oversee delivery to meet tight timelines
Build and test of new/enhanced data controls, metadata, and lineage
Facilitate data issue resolution and documentation of compensating controls
Conduct capital-related analytics using SQL and Python
Design, source data, and develop new internal and management reporting packages
Design and conduct User Acceptance Testing (UAT) of new calculations against regulatory requirements
Document revisions to process, controls, and desktop procedures
Support project plans and project management deliverables
Manage with influence, remove roadblocks, work on a multi-layer, cross-functional high-visibility projects
Required Skills and Experience:
Advanced degree in engineering, computer science, math, or statistics - or related work experience
8+ years of experience with quantitative methods applied to finance and banking
Proficient in advanced SQL, significant experience in working with large databases; data mining capability
Proficient in Python
Quantitative modeling experience a plus
Hands-on, in-depth experience with traded products, including derivatives, trading securities, securitizations, complex products and structures
Experience in regulatory capital and capital reporting
Experience as a team leader in translating complex, quantitative regulatory requirements into business requirements for technology applications; system development experience a plus
Demonstrated role as a subject-matter expert in field of expertise
Report analysis, design, and development
Proven leader who has already successfully managed large-scale technology solutions, and driven solutions across various groups and levels of an organization
Proven ability to lead and influence
Strong written communication skills, including presenting technical information, writing procedures and controls
This role may be filled as a Capital Management - Finance Manager or a Capital Management - Senior Financial Analyst based on skills and experience.
Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses, and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company offers industry-leading support to approximately 3 million small business households through a suite of innovative, easy-to-use online products and services. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world.