Manager Accounting Policy-CFO Group

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 is core to how we drive Responsible Growth. This includes our commitment to being a diverse and inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.

At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

Job  Description:

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:

• 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:

• 8 years of accounting experience
• 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:

• Big-4 advisory or accounting policy experience
• Bachelor’s Degree

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:

Hours Per Week: