What are the responsibilities and job description for the Global Commercial Banking BFO position at Bank of America?
Job Description:
Bank of America commitment to Diversity and Inclusion
We’re a culture that:
- Believes in responsible growth and has a proven dedication to supporting the communities we serve.
- Provides continuous training and developmental opportunities to help people achieve their goals, whatever their background or experience.
- Believes diversity makes us stronger, so we can reflect, connect to and meet the diverse needs of our clients and customers around the world.
- Is committed to advancing our tools, technology and ways of working. We always put our clients first to meet their evolving needs.
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. Our first priority is to operate a series of key control processes to ensure the integrity of GBAM's financial results. Then we build on these activities to offer performance insight to business leaders. The assets of Finance are its people.
Business Finance Officers/Control (BFO/BFC) Partners directly with our Front Office LOBs providing strategic guidance and insight; Performs the product control function to ensure the integrity of our financial results
Team Overview:
Business Finance Officer within the Global Commercial Banking Finance Team supporting the relationship management teams for midsized businesses. This role will support multiple business executives on Global Commercial Bank’s Executive Leadership team. Business Finance officers are responsible for partnering with the business in achieving their strategic goals acting as the CFO for the businesses covered. Activities include the following:
Coordinate among product partners and other Finance teams to drive consistent and actionable analysis that can be shared with the line of business and finance leaders. Act as a trusted strategic advisor and member of the leadership team for the businesses supported. Interpret and present financial results to the business to explain results and identify opportunities. Utilize knowledge gained from the best practices of one business to scale analysis and influence across the commercial business. As finance liaison for the business, assist in coordinating the solution to any accounting or finance related question that is raised by business partners. These can include a broad range of questions including client or product profitability, capital treatment and return, liquidity impacts, etc. Provide perspective and key driver input into financial routines such as forecast, quarter-end commentary, business reviews and finance communication. Utilize senior analysts on the team to provide effective coverage of multiple businesses and develop emerging finance talent.
To be successful, a candidate should be a polished communicator with the ability to collaborate across multiple partners and drive consensus based on feedback acquired. Previous success in business partnering including an ability to influence decision-making based on financial analysis is important. Also critical is the ability to analyze and interpret business strategy and data that can support decisions. The role offers frequent partnering with the line of business, product teams, various Finance teams (including Client Data & Analytics), Enterprise Capital Management, Risk, etc.
Required Skills
- Bachelor's degree in accounting or finance
- 7 years of accounting or financial analysis work experience
- Strong communication, organization, presentation, analytical and leadership skills
- Analytical Abilities / Financial Acumen - Systematic application of a combination of inductive and deductive reasoning to examine information, interpret results and arrive at well-founded logical conclusions.
- Builds Partnerships - Builds broad-based business relationships across the organization. Skillfully influences peers and colleagues to promote and sell ideas. Proactively surfaces and resolves conflict with efficiency.
- Organization and the ability to juggle multiple tasks and responsibilities
- Strong business acumen
Desired Skills
- Commercial Banking knowledge
- Knowledge of how liquidity and capital rules affect the business
- 3 years in a leadership role within finance
- Experience leading and developing a team
Shift:
1st shift (United States of America)Hours Per Week:
40
