Accounting Policy Finance Manager-CFO Group
Charlotte, North Carolina
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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
Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other bases such as medical condition, marital status or any other factor that is irrelevant to the performance of our teammates.
View your "Know your Rights (https://www.eeoc.gov/sites/default/files/2023-06/22-088\EEOC\KnowYourRights6.12.pdf) " poster.
View the LA County Fair Chance Ordinance (https://dcba.lacounty.gov/wp-content/uploads/2024/08/FCOE-Official-Notice-Eng-Final-8.30.2024.pdf) .
Bank of America aims to create a workplace free from the dangers and resulting consequences of illegal and illicit drug use and alcohol abuse. Our Drug-Free Workplace and Alcohol Policy ("Policy") establishes requirements to prevent the presence or use of illegal or illicit drugs or unauthorized alcohol on Bank of America premises and to provide a safe work environment.
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. Should you be offered a role with Bank of America, your hiring manager will provide you with information on the in-office expectations associated with your role. These expectations are subject to change at any time and at the sole discretion of the Company. To the extent you have a disability or sincerely held religious belief for which you believe you need a reasonable accommodation from this requirement, you must seek an accommodation through the Bank's required accommodation request process before your first day of work.
This communication provides information about certain Bank of America benefits. Receipt of this document does not automatically entitle you to benefits offered by Bank of America. Every effort has been made to ensure the accuracy of this communication. However, if there are discrepancies between this communication and the official plan documents, the plan documents will always govern. Bank of America retains the discretion to interpret the terms or language used in any of its communications according to the provisions contained in the plan documents. Bank of America also reserves the right to amend or terminate any benefit plan in its sole discretion at any time for any reason.
