Job Description:
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!
Job Description: This job is responsible for managing the day-to-day financial reporting, analysis, and risk mitigation of the domestic US Bank Agency regulatory reporting and accounting policy. Key responsibilities include establishing proper controls and processes necessary to ensure accurate reports are submitted to external regulators, and providing interpretations of regulatory guidelines to support the firm's delivery of accurate financials. Job expectations include maintaining expertise in reporting requirements and guidelines to support precise records, ensure compliance, and identify efficiencies.
As part of the Accounting Policy Group, this individual will need an advanced level of technical accounting expertise. Primary responsibilities include maintaining the accounting policy and reporting standards for the global investment bank and commercial bank and working with Finance and Front Office personal to provide accounting guidance and solutions to complex accounting issues to ensure compliance with applicable technical accounting and regulatory standards. In addition, this person will have strong communications skills, including drafting technical memos and presenting relevant accounting considerations to Company leadership.
Responsibilities:
Manages the preparation, review, and analysis of data in financial reports
Executes key financial and process controls, including period-over-period trends, variance analysis, and cross report reconciliations
Drives identification, remediation, monitoring, and escalation of issues impacting financial statements or reports
Establishes relationships with data owners across multiple lines of business to support complete and timely data submissions
Provides support and subject matter expertise for data quality improvement and sourcing automation projects
Provides guidance for interpreting and understanding complex regulatory requirements
Adapts to changing demands and requirements
Provide complex accounting guidance to CAO, Corporate Treasurer, Corporate and Legal Entity Controllers, Line of Business CFOs and their staff, primarily related to transactions involving debt securities, derivatives, hedge accounting strategies & leasing transactions.
Reviews new products and complex structured transactions. Includes participation in internal product review committee processes
Participate in maintaining and keeping current the Corporation’s Accounting Policy Manual for assigned areas.
Assist implementation efforts for new accounting standards, primarily US GAAP
Assist SEC Financial Reporting and Legal Entity Controllers (LEC) teams in developing financial statement disclosures in accordance with applicable U.S. GAAP
Be responsible for monitoring and interpreting various emerging technical issues related to U.S. GAAP and regulatory capital standards applicable to financial holding companies and participation in comment letters
Maintain advanced knowledge of SEC and GAAP reporting requirements and lead in-house education sessions
Acts in an advocacy role on behalf of the bank with accounting standard setters and various industry organizations
Reviews and/or writes sections of the Corporation's ‘34 Act SEC filings
Drafts comment letters to standard setters
Drafts responses to SEC review comments
Interacts directly with External & Internal audit engagement management and staff
Required Qualifications
10+ years of accounting and banking experience, primarily in technical accounting advisory or banking accounting policy
Bachelor’s Degree in Accounting or related field
Strong understanding of accounting standards applicable to financial instruments
Understanding of Bank regulations including SEC requirements
Strong communication skills including written and oral presentation skills with an ability to interact at different levels of the organization
Self-Motivated
Excellent time management and organization skills
Effectively work across teams within the organization to implement accounting standards and lead projects
Proven experience to understand and dissect complex transactions, specifically as it relates to hedge accounting transactions
Desired Qualifications:
- MBA or Masters
Skills:
- Data and Trend Analysis
- Financial Accounting
- Interpret Relevant Laws, Rules, and Regulations
- Regulatory Compliance
- Risk Management
- Attention to Detail
- Continuous Improvement
- Financial Analysis
- Project Management
- Reporting
- Analytical Thinking
- Oral Communications
- Regulatory Relations
- Stakeholder Management
- Written Communications
Shift:
1st shift (United States of America)
**Hours Per Week: **
40