Job Description: About Bank of America Merrill Lynch:
Our purpose as a firm is to make financial lives better, through the power of every connection. Across the world, we partner with leading corporate and institutional investors through our offices in more than 40 countries. In the U.S alone, we serve almost all Fortune 500 companies and approximately 59 million consumers and small-business customers. We provide a full suite of financial products and services, from banking and investments to asset and risk management. We cover a broad range of asset classes, making us a global leader in corporate and investment banking, sales and trading.
Connecting Asia Pacific to the World Our Asia Pacific team is spread across 23 offices in 12 markets. We are focused on connecting Asia to the world and the world to Asia, using our global expertise to ensure success is shared between us, our clients and our communities. Our regional footprint covers 12 currencies, more than a dozen languages and five time zones, placing us firmly among the region's leading financial services companies.
Bank of America Merrill Lynch is committed to attracting, recruiting and retaining top diverse talent from across the globe. Our diversity and inclusion mission is to actively promote an inclusive work environment where all employees have the opportunity to achieve personal success and contribute to the growth of our business. Each of our global Employee Networks bring together employees, create dialogue and awareness in support of our Diversity and Inclusion.
The Asia Pacific FICC Finance Group carries out the Business Finance and Control function in support of the Asia Pacific Region FICC business including Rates, Global Financing and Futures, G10 FX, FICC Emerging Markets, Credit and Special Situation Group, and Commodities. The group is responsible for Front to Back reconciliation; Balance Sheet and PNL substantiation; Financial Disclosure reporting; PL Explain and New Deal Analysis as well as valuation control including price verification, valuation adjustment etc. It has the ultimate responsibility on the financial representation of the business lines supported and any related GAAP disclosure requirements.
The functions of the team includes:
Daily PL Explain Attribution and Substantiation
Front to back reconciliation.
PL Review, Reporting and Commentaries
Ownership of the Books and Records, Balance Sheet Control
Monthly and Quarterly Financial Disclosure Reporting
New Deal Review/Substantiation
Valuation adjustment Calculations
Fair Value Hierarchy and Liquidity
Performance Review (Revenue and Expense Analysis)
Value Added Business Control and Support (e.g., New product review, risk forum)
Management of scarce resource (Balance sheet, funding, capital, etc.)
Budgeting, Forecasting & Financial advisory on Business Strategy
Business Finance & Control's core values are:
Finance process & controls: Flawless execution and minimizing operational risk
Performance reporting: Insightful, accurate & timely reporting with global standardization & consistency
Management of scare resources: Strengthen management of funding and capital; enhance analytical capabilities
Business strategy: Be a valued business partner
Leadership, engagement and development: Recruit, develop and retain the best talent in the industry; advocate for diversity & inclusion
Position Description The primary responsibility for this project manager will be 1) supporting APAC FICC initiatives from Finance perspective which will require this person to work closely with various stakeholders across the bank and 2) driving FICC Finance initiatives across FICC LOBs by working closely with LOB BFOs. Accountable for analyzing present-state, developing alternative future-state approaches and facilitating execution and implementation. Plans, organizes, monitors and controls projects using appropriate tools and techniques to ensure efficient and effective project completion.
The key focus initially for this project manager will be acting as the Finance work stream lead in a key SIM initiative (FX processing GBS Asia Branches project) to retire legacy (CAS/FMS) functionality for FX processes and migrate to strategic technology of CashMan and FinMan (Finance Subledger). Project includes phased (multi-year) migration of 21 GBS Units, across 12 APAC countries. Key responsibilities will include:
Lead Finance work stream: analyzing present state, developing alternative future state approaches, coordinating across Finance functions, managing/tracking progress of Finance requirements and deliverables, and facilitating implementation
Strong business centric mindset with ability to utilize sound business judgment and tailor approach to drive optimal business outcomes
Planning/Documentation for DR/UAT required for all Finance teams
Drive discussion of any specific local requirements from Finance perspective for each of the branches.
Lead discussion on critical issues/subjects across Finance functions and drive communication with program manager and other work streams to ensure all the Finance requirements are met in the most efficient way
Ensure program teams identify issues, root causes and recommend both short and long term action plans
7+ years in the finance services industry or similar with experience in managing global or regional initiatives. The successful candidate should have strong understanding of the financial industry and in particular the fixed income business.
Demonstrates leadership excellence, having led large change programs before delivering quantifiable benefits. Proven track record in the delivery of major implementations and ability to manage multiple projects or work streams.
Self-driven and fast learner
Proven analytic, reasoning and problem solving skills with the ability to analyze and develop unique solutions to business issues. Ability to connect the dots and make sense of information across multiple data points upstream/downstream that many not be easily noticeable
Problem solver who can manage through ambiguity successfully. Strong partnering and relationship-building skills.
Proactive and "no surprises" approach in communicating issues and strength in sustaining independent reviews
Excellent interpersonal, presentation, verbal and written communication skills and the ability to interact professionally with a diverse group, executives, managers, and subject matter experts. Ability to communicate effectively and influence decisions to achieve desired results
Product control/Business Finance experience, operations or operational risk experience, knowledge of market products would be a plus.