Business Finance Control Product Associate - Treasury Finance (CFO)

Bank of America•Charlotte, NC

2d•Onsite

About The Position

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day. Being a Great Place to Work and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates’ physical, emotional, and financial wellness through affordable, competitive and flexible benefits. We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve. Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs. At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us! This job is responsible for supporting business analysis for a Line of Business (LOB) by producing all financial reporting and disclosures in partnership with senior management, front office, and other business stakeholders. Key responsibilities include applying knowledge of product(s), processes, and inherent risks for a product, business or function to analyze and substantiate Profit and Loss (P&L) attributes and balance sheets, assist in production of regulatory matters analysis, and perform critical testing and calculations. The Treasury Business Finance Control (BFC) team is responsible for ensuring the accuracy and completeness of Treasury activity across the bank’s ledgers, ensuring that all activity recorded in the Treasury sub-ledger accurately reflects transactions from various trading systems in the general ledger. This role plays a critical part in managing end-to-end ledger processes, month-end reconciliations, variance analysis, and key projects aimed at enhancing financial control within Treasury. The ideal candidate will be highly analytical, detail-oriented, and possess a strong understanding of complex financial products, particularly derivatives. They will work closely with cross-functional teams, including the Front Office, Operations, and Technology, to maintain accurate financial reporting, implement process improvements, and reduce manual interventions.

Requirements

2 years of experience working with financial products in the financial industry
Ability to understand accounting specific to products supported
Experience with Excel including formulas
Experience with ledger and sub-ledger reconciliations
Strong communication skills, with the ability to interact effectively with diverse teams and stakeholders
Ability to work independently and manage multiple priorities within tight deadlines
High attention to detail, with a proactive approach to identifying and resolving issues
Collaborative mindset, with an ability to engage cross-functionally and work closely with various departments

Nice To Haves

Bachelor’s degree in Accounting, Finance, or Business
SQL experience
Experience with Treasury organizations
Experience supporting business partners

Responsibilities

Supports with preparing and analyzing balance sheets and Profit and Loss (P&L) reports and validates postings and balances for a product aligned to a Line of Business (LOB) using knowledge of financial products, market risk profiles, and risk mitigation techniques and strategies
Performs month-end close and financial reporting, critical testing and calculations, and periodic analysis
Assists in the development of strategic and annual planning efforts and implementations and performs profitability analysis, forecasting, and financial reporting for a product or general ledger account type
Partners closely with the front office, Operations, and Technology to support defining business finance processes and implementing related technology solutions
Analyzes regulatory matters, such as the Comprehensive Capital Analysis and Review (CCAR) and Recovery and Resolutions Plans (RRP), to assess risk modeling practices within the bank
Ensure the accuracy and completeness of Treasury transactions in both the sub-ledger and general ledger, maintaining strong data integrity.
Build and maintain accounting matrices and schemas to support accurate ledger reporting
Perform month-end and quarter-end close activities, including managing ledger reconciliations and addressing any discrepancies
Identify, analyze, and explain variances within the Treasury balance sheet, providing insights into changes (e.g., significant shifts due to new products or large trades)
Collaborate with other teams (Front Office, Finance, Credit Risk, Legal, Operations, and Technology) to address system discrepancies and support daily transaction activities
Actively participate in process automation and improvement initiatives, including exploring the potential for robotics to reduce manual journal entries
Support new product and entity rollouts, including the necessary accounting and testing components to ensure accuracy in the financial reporting of these items