Senior Finance Analyst – Business Support (Incentive Compensation and Field Reporting - GWIM Incentive Expense Support)

Bank of America • Charlotte, NC

5d • 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 is core to how we drive Responsible Growth. This includes our commitment to being an inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve. Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations. At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us! Job Summary: This job is responsible for serving as a finance partner to specified Lines of Business (LOBs) and providing financial analysis and guidance to support key decisions and initiatives. Key responsibilities include performing forecasting, profitability analysis, expense efficiency, pricing, financial reporting, and generating value creation ideas and new investment business cases. Job expectations include preparing insights to guide management's decision making and evaluating financial performance versus plans, forecasts, and prior periods. Line of Business Job Description: The Consumer/Wealth Management Formulaic Incentive Compensation Analytics and Consumer Field Reporting team is part of the Regional Banking and Wealth Management Finance organization and is responsible for the support of formulaic associate incentive plans, sales reporting and forecasting, businesses cases, field reporting, and Business Finance Officer (BFO) support activities. Team responsibilities include providing reporting and analytics for sales and incentive compensation activities, assessing business impacts of strategic initiatives, setting targets for use in associate incentive calculations, forecasting sales volumes and related incentive expense impacts, supporting monthly and quarterly close and investor relations activities. The team supports Finance and Line of Business leaders across the Wealth Management, Private Bank, Consumer Banking, Consumer Investments, Consumer Lending, Small Business, Advanced Client Solutions, Preferred Rewards, Consumer Employee Banking & Investments and Digital Bank businesses. The team is composed of 26 teammates primarily located in Charlotte, NC, Boston, MA, and Pennington, NJ.

Requirements

• 2+ years of professional/demonstrated work experience within financial services industry
• Proficient technical skills, including SQL, advanced Excel and Power Query
• Excellent communication, proven ability to build relationships and influence cross‑functional teams
• Ability to manage multiple priorities and deliver within tight deadlines, balancing short term deliverables with long term projects
• Strong attention to detail, commitment to well controlled and accurate operating environment
• Analytical thinking, use data to develop creative solutions to business problems

Nice To Haves

• Bachelor's degree (Finance / Accounting preferred)
• Operational Excellence work experience
• Knowledge of the GWIM business and associated corporate functions

Responsibilities

• Evaluates Lines of Business (LOB) financial performances and assists with decision making by synthesizing key trends, assessing current and future business risks, and preparing, analyzing, and reporting on financial results and key metrics
• Develops financial management reports, presentations, and ad hoc analyses for LOBs and/or finance partners
• Creates forecasts and budgets by comparing current performance against plan, prior periods, prior forecasts, and budgets and evaluating current and future performance trajectory
• Supports reporting and analysis for key constituents and management, which may include Board of Directors, Investor Relations, and/or various regulatory agencies
• Collaborates with teams across the Finance division to ensure integrity of the financials, sound controls, and efficient and effective procedures
• Supports new and ongoing projects and strategic initiatives by creating processes to automate key reporting capabilities and delivering on process improvements and simplifications to enable increased focus on strategic priorities
• Lead financial analysis, forecasting, and expense planning for major Wealth Management incentive programs, including Client Transition Program (CTP) Merrill Growth Award Recruit/Trainee production analytics and compensation modeling Long term award stock amortization expense Deferred Liability balance sheet modeling Private Bank formulaic incentive support
• Support multi year technology investment into new financial forecast modeling tool
• Assist with development of methodology and logic used to drive future of Merrill financial advisor incentive expense baseline and stress forecasting
• Write SQL statements that will serve as basis for forecasting logic
• Develop business acumen required to have fundamental understanding of compensation plans
• Key resource in managing what-if scenario modeling for future compensation plan design changes

Benefits

• This role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.
• This role is currently benefits eligible.
• We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level