BFC Product Associate - XVA Finance
Job Description: 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. Daily P&L & Balance Sheet - Reporting & Oversight
Core Financial Oversight Functions
- Production and/or review of official daily P&L explain and its provision for VaR backtesting.
- Approval of daily sub-ledger P&L generated by Middle Office for reporting into Greensheets.
- Responsibility for daily management adjustments to P&L
- Daily P&L reporting to local and regional management.
- Oversight of trader estimate to official T+1 P&L variances as business unit level.
- Preparation of daily P&L commentary and substantiation to market events.
- Review of material new deals.
- Review and approval of changes to valuation adjustments & reserves.
- Review of changes to daily balance sheet & substantiation to transactional activity.
Planning & Reporting
- Price verification (daily, weekly, monthly).
- Validation of appropriate application and use of models for books & records.
- Monthly & quarterly revenue commentary.
- Maintaining/updating valuation adjustment & reserve policies.
- Balance sheet analysis (capital, liquidity, exposures etc) including inventory aging and its reporting.
- Determining and implementing appropriate accounting policies & procedures (with Accounting Policy).
- Managing key accounting, legal entity, regulatory and P&L issues with the business.
- Month end close, including Financial Disclosures and calculation and recording of netting entries
- Exercise of control oversight on behalf of the business.
- Participation in the New Product Review and Appropriation Request processes: modeling structures and process scenarios, review, and control.
- Contributing to Governance process, operational error reporting and support of other internal control process, including SOX.
- Provision of financial expertise in the design, build, testing, and implementation of new Technology Platforms and Systems.
- Participation in the formulation of business strategy; plans; budgets; and forecasts.
- Provide regular updates, analytics and commentary on Line of Business performance.
- Manage the expense approval process for both deal-related and organisational expenses; provide expense analytics and assist the business with recovering deal-related expenses.
- Provide regular updates, analytics and commentary on the GBAM's externally disclosed quarterly performance.
- Bachelor Degree in Accounting/Finance
- Product experience preferred
- Strong financial analytics experience
- Advanced experience/skills with Excel and complex spreadsheets
- Candidate must be able to work both independently and as team member
- Strong communication and presentation skills
- Strong problem solving and analytical abilities
1st shift (United States of America) Hours Per Week:
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