Bank of America Corporation
Capital Management - Finance Manager
Bank of America Corporation, Charlotte, NC
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. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day.
One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We're devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.
Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.
Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us!
Job Description:
This job is responsible for contributing to the efficient and effective management of the bank's capital to maintain capital adequacy needed for supporting responsible growth and return to shareholders. Key responsibilities include partnering with Lines of Business (LOBs), Global Technology, Chief Finance Officer, Group Data Management, Treasury Policy and Advocacy, Global Risk Analytics (GRA), Centralized Regulatory Reporting (CRR), and Investor Relations. Job expectations include applying expertise in capital regulations, reporting, and analysis to support the bank's capital initiatives.
The Capital Management - Finance Manager is part of the Enterprise Capital Management (ECM) team and covers the Basel 3 capital management relationship for a Global Markets LOB within FICC. They are responsible for opining on the capital treatment for structured and collateralized transactions; researching the drivers of capital changes; end-to-end review, analysis, and implementation of new capital regulations. There will be ad-hoc analytical reporting to senior management and regulatory agencies. Success requires understanding of regulatory capital and accounting rules and the ability to formulate means by which answers may be derived from large sets of data.
ECM is a global team of more than 100 professionals responsible for the efficient and prudent management of the Corporation's as well as its subsidiaries' capital across the enterprise globally. ECM implements the Board's capital management strategy including issuance, redemption or repurchase of common stock and other capital instruments. ECM works closely with lines of business and guides them to efficiently and proactively manage the enterprise's capital including design and implementation of capital allocation methodologies. ECM also recommends capital related financial resource limits to senior management. In addition, ECM produces and monitors regulatory capital metrics including capital adequacy ratios, leverage exposure and risk-weighted assets and oversees the end to end capital measurement process across the enterprise. Partnering with other control functions, ECM manages external disclosures related to capital management including 10Q, 10K, Pillar 3 disclosures and other regulatory filings. ECM interfaces with banking regulators globally on all capital related matters.
Responsibilities:
You will join a dynamic environment that offers numerous opportunities to learn, grow, impact and drive changes for the Company and U.S. Legal Entities. In particular, you will:
Skills:
Required Skills:
Desired Skills:
Shift:
1st shift (United States of America)
Hours Per Week:
40
At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day.
One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We're devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.
Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.
Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us!
Job Description:
This job is responsible for contributing to the efficient and effective management of the bank's capital to maintain capital adequacy needed for supporting responsible growth and return to shareholders. Key responsibilities include partnering with Lines of Business (LOBs), Global Technology, Chief Finance Officer, Group Data Management, Treasury Policy and Advocacy, Global Risk Analytics (GRA), Centralized Regulatory Reporting (CRR), and Investor Relations. Job expectations include applying expertise in capital regulations, reporting, and analysis to support the bank's capital initiatives.
The Capital Management - Finance Manager is part of the Enterprise Capital Management (ECM) team and covers the Basel 3 capital management relationship for a Global Markets LOB within FICC. They are responsible for opining on the capital treatment for structured and collateralized transactions; researching the drivers of capital changes; end-to-end review, analysis, and implementation of new capital regulations. There will be ad-hoc analytical reporting to senior management and regulatory agencies. Success requires understanding of regulatory capital and accounting rules and the ability to formulate means by which answers may be derived from large sets of data.
ECM is a global team of more than 100 professionals responsible for the efficient and prudent management of the Corporation's as well as its subsidiaries' capital across the enterprise globally. ECM implements the Board's capital management strategy including issuance, redemption or repurchase of common stock and other capital instruments. ECM works closely with lines of business and guides them to efficiently and proactively manage the enterprise's capital including design and implementation of capital allocation methodologies. ECM also recommends capital related financial resource limits to senior management. In addition, ECM produces and monitors regulatory capital metrics including capital adequacy ratios, leverage exposure and risk-weighted assets and oversees the end to end capital measurement process across the enterprise. Partnering with other control functions, ECM manages external disclosures related to capital management including 10Q, 10K, Pillar 3 disclosures and other regulatory filings. ECM interfaces with banking regulators globally on all capital related matters.
Responsibilities:
You will join a dynamic environment that offers numerous opportunities to learn, grow, impact and drive changes for the Company and U.S. Legal Entities. In particular, you will:
- Produce and monitor regulatory and internal capital metrics including capital adequacy ratios, leverage exposure, total loss-absorbing capacity (TLAC), and risk-weighted assets (RWA)
- Oversee capital measurement and model implementation for RWA calculations, baseline, and stress forecasts and works with Global Risk Analytics (GRA) and Technology and Data Management to propose, design, and test enhancements on the capital and model implementation process
- Provide key metrics and data to Centralized Regulatory Reporting (CRR) and Investor Relations for external regulatory filings, releases, and disclosures, including Federal Financial Institutions Examination Council (FFIEC) 101/102, HC-R, Pillar 3, 10-Q/K, and Y-14A
- Partner with Lines of Business (LOBs) to integrate capital considerations into the LOBs strategic plans to advise and execute on RWA optimization strategies
- Develop Capital Plans, Internal Capital Adequacy Assessment Processes (ICAAPs), Resolution Plans, and Recovery Plans, creates capital content, and monitors ongoing capital adequacy
- Serve as a subject matter expert on regulatory requirements and calculations for capital and/or RWA including exposure areas, such as Market Risk, Counterparty Credit Risk, Retail, Securitization, and Securities
- Maintain capital management processes and controls and addresses inquiries from Risk, Corporate Audit, and external auditors
- Be responsible for understanding line of business reporting for Global Markets businesses' covering a holistic view of regulatory capital, economic capital, capital return metrics and financial statement analysis
- Be involved in advising on capital matters regarding new transactions. Assist with estimating the capital utilization for new transactions and products and assisting the businesses in assessing the impact on return metrics. Liaise between the business and internal ECM policy on optimizing structures for appropriate return metrics
- Be responsible for directing calculation, reporting and/or analysis activities to support the Bank's Capital Initiatives. Activities may include analyzing regulatory capital results; interpreting regulatory requirements in the context of a business problem; developing solutions; managing and/or executing implementation.
- Be responsible for investigating and explaining period over period capital and balance sheet movements
- Understand changing regulatory capital framework and its impact on the Global Markets business, including the management of capital, also in consideration of liquidity, stress testing and strategic planning
- Focus on team coordination and process improvements working with internal and external technology partners.
- Foster relationships with partners in capital management, business and finance to resolve capital questions, provide strategic guidance and communicate capital usage
Skills:
- Analytical Thinking
- Data and Trend Analysis
- Financial Forecasting and Modeling
- Regulatory Compliance
- Scenario Planning and Analysis
- Business Acumen
- Interpret Relevant Laws, Rules, and Regulations
- Policies, Procedures, and Guidelines
- Reporting
- Risk Management
Required Skills:
- Strong financial analysis skills
- Ability to multi-task and prioritize
- Quick learner and detail oriented
- Strong communication skills and ability to influence.
- Strong Excel and PowerPoint skills
Desired Skills:
- Basic SQL skills for report preparation and queries
- Familiar with capital requirements under Basel 3
Shift:
1st shift (United States of America)
Hours Per Week:
40