Municipal Finance - Product Control Analyst

  • Competitive
  • New York, NY, USA New York NY US
  • Permanent, Full time
  • Bank of America Corporation
  • 17 Mar 18 2018-03-17

Municipal Finance - Product Control Analyst

Job Description:

Muni Finance Group supports the Municipal Markets and Banking business and are responsible for the control infrastructure for the broad arrange of products they trade (Muni bonds, Securitizations, TRSwaps, Muni Credit Derivs and IR Derivatives). Responsible for balance sheet, general ledger and/or product controls specific to a defined area or defined process. Understands the market and the market drivers of the product they are supporting. Understands more complex structured transactions and the operational risks around the end to end product lifecycle. Implements improvements to the system infrastructure and control environment. Provides general team guidance on complex transactions. May provide input to recruiting and hiring and performance management processes.

  • Product Controller would be responsible for preparation and reconciliation of Profit and Loss statements (both SubLedger and General Ledger), and various Risk measures.
  • A new product controller will strengthen the team and enable us to maintain the flexibility needed to support the Municipal Capital Markets business. Resource is critical to assume daily BAU responsibilities to ensure proper roles and responsibilities are maintained and critical project deliverables are met.

Required Skills:
  • Maintain a strong focus on controls Provide Daily PnL Explain Reporting for various trading desks within the Municipal Banking and Markets Division covering highly structured products (various Muni Bonds, CDS, TRS and IR Derivs).
  • Reconciling Daily, Monthly and Year to Date PnL to the General Ledger. Work Closely with Front Office, Trade Support, Technology, Market Risk, and Compliance.
  • Ensure that the Control Framework is in place for processes, identify control gaps and implement enhancements.
  • Embrace and proactively drive change.
  • Identify flaws in the current processes, originate new ideas of how we can better support our Businesses and implement them.
  • Liaise with many different groups across the organization and globe.
  • Ad hoc projects and other various Finance initiatives to streamline daily processing and increase controls.
  • RBA preferred or substantially equivalent experience. Typically 5-7 years of applicable experience.
  • Previous exposure to Product Control and Derivative products would be preferred.
  • Strong problem solving and project management skills.
  • Ability to work under pressure and strong organizational and multi-tasking skills.
  • Excellent communication and interpersonal skills.
  • Team Player: must demonstrate a can-do attitude necessary to create good relationships with traders, management, other business partners and the Banks customers.
  • Must be able to fully understand the impact of current and future IT developments on existing P&L processes and play a role in their implementation. Is able to see the big picture, to identify non-optimal processes, to propose solutions and to implement them within timelines and cost constraints. Ensures effective planning and execution of client deliverables on a timely basis

Desired Skills:
  • Strong understanding of fixed income products or structured products Strong Excel skills.
  • VBA and/or SQL

1st shift (United States of America)

Hours Per Week: