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Senior BFC Product Associate, Commodities Finance

In United States

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Senior BFC Product Associate, Commodities Finance   

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JOB TITLE:

Senior BFC Product Associate, Commodities Finance

JOB TYPE:

JOB SKILLS:

JOB LOCATION:

New York, NY United States

JOB DESCRIPTION:

Job Description At client we're a culture that: • Believes in responsible growth and has a proven dedication to supporting the communities we serve. • Provides continuous training and developmental opportunities to help people achieve their goals, whatever their background or experience. • Believes diversity makes us stronger, so we can reflect, connect to and meet the diverse needs of our clients and customers around the world. • Is committed to advancing our tools, technology and ways of working. We always put our clients first to meet their evolving needs The Chief Financial Officer (CFO) Group is responsible for the overall financial management of our company. This includes accounting, financial and regulatory reporting, balance sheet management, financial planning and analysis, treasury, investor relations, corporate investments and tax Global Banking and Markets Finance strives to be a valued business partner to the company's trading, corporate and institutional banking businesses. Our first priority is to operate a series of key control processes to ensure the integrity of GBAM's financial results. Then we build on these activities to offer performance insight to business leaders. The assets of Finance are its people. Business Finance Officers/Control (BFO/BFC) Partners directly with our Front Office LOBs providing strategic guidance and insight; Performs the product control function to ensure the integrity of our financial results. Team / Overview: Regional Line Of Business support for Global Financing & Futures AMRS. Responsible for balance sheet, general ledger, and /or product control specific to a defined area or defined processes. Understands the market and market drivers of the product they are supporting. Understands more complex structured transactions and operational risks around the end to end product lifecycle.   With demonstrated success, you'll have the opportunity to advance in the BFC Product Role, with opportunities available at the Sr. Associate, Lead, and Sr. Lead level, to promote career advancement within the GBAM Finance organization. This role is to represent Finance in supporting the Global Commodities business in NY, which includes Oil, Power, Gas, and Index products. You will be expected to influence team members, collaborate with the desk and other business partners, impose structure on complex issues and focus on delivering solutions in line with the long term strategic goals of the bank. Responsibilities will include the following:   Daily P&L & Balance Sheet – Reporting & Oversight Production and/or review of official daily P&L explain and its provision for VaR backtesting Approval of daily sub-ledger P&L generated by Middle Office for reporting into Greensheets Responsibility for daily management adjustments to P&L Daily P&L reporting to local and regional management Oversight of trader estimate to official T+1 P&L variances as business unit level Preparation of daily P&L commentary and substantiation to market events Review of material new deals Review and approval of changes to valuation adjustments & reserves Review of changes to daily balance sheet & substantiation to transactional activity   Core Financial Oversight Functions Price verification (daily, weekly, monthly) Validation of appropriate application and use of models for books & records Monthly & quarterly revenue commentary Maintaining/updating valuation adjustment & reserve policies Balance sheet analysis (capital, liquidity, exposures etc) including inventory aging and its reporting Determining and implementing appropriate accounting policies & procedures (with Accounting Policy) Managing key accounting, legal entity, regulatory and P&L issues with the business Month end close, including Financial Disclosures and calculation and recording of netting entries Exercise of control oversight on behalf of the business Participation in the New Product Review and Appropriation Request processes: modeling structures and process scenarios, review, and control Contributing to Governance process, operational error reporting and support of other internal control process, including SOX Provision of financial expertise in the design, build, testing, and implementation of new Technology Platforms and Systems   Required Skills Bachelor's degree required 7+ years of Finance, Accounting, or Commodities experience Excel, VBA, and Microsoft office suite experience Ability to act independently

Position Details

POSTED:

Dec 06, 2022

EMPLOYMENT:

INDUSTRY:

SNAPRECRUIT ID:

S16583616813898064

LOCATION:

United States

CITY:

New York, NY

Job Origin:

OORWIN_ORGANIC_FEED

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Job Description At client we're a culture that: • Believes in responsible growth and has a proven dedication to supporting the communities we serve. • Provides continuous training and developmental opportunities to help people achieve their goals, whatever their background or experience. • Believes diversity makes us stronger, so we can reflect, connect to and meet the diverse needs of our clients and customers around the world. • Is committed to advancing our tools, technology and ways of working. We always put our clients first to meet their evolving needs The Chief Financial Officer (CFO) Group is responsible for the overall financial management of our company. This includes accounting, financial and regulatory reporting, balance sheet management, financial planning and analysis, treasury, investor relations, corporate investments and tax Global Banking and Markets Finance strives to be a valued business partner to the company's trading, corporate and institutional banking businesses. Our first priority is to operate a series of key control processes to ensure the integrity of GBAM's financial results. Then we build on these activities to offer performance insight to business leaders. The assets of Finance are its people. Business Finance Officers/Control (BFO/BFC) Partners directly with our Front Office LOBs providing strategic guidance and insight; Performs the product control function to ensure the integrity of our financial results. Team / Overview: Regional Line Of Business support for Global Financing & Futures AMRS. Responsible for balance sheet, general ledger, and /or product control specific to a defined area or defined processes. Understands the market and market drivers of the product they are supporting. Understands more complex structured transactions and operational risks around the end to end product lifecycle.   With demonstrated success, you'll have the opportunity to advance in the BFC Product Role, with opportunities available at the Sr. Associate, Lead, and Sr. Lead level, to promote career advancement within the GBAM Finance organization. This role is to represent Finance in supporting the Global Commodities business in NY, which includes Oil, Power, Gas, and Index products. You will be expected to influence team members, collaborate with the desk and other business partners, impose structure on complex issues and focus on delivering solutions in line with the long term strategic goals of the bank. Responsibilities will include the following:   Daily P&L & Balance Sheet – Reporting & Oversight Production and/or review of official daily P&L explain and its provision for VaR backtesting Approval of daily sub-ledger P&L generated by Middle Office for reporting into Greensheets Responsibility for daily management adjustments to P&L Daily P&L reporting to local and regional management Oversight of trader estimate to official T+1 P&L variances as business unit level Preparation of daily P&L commentary and substantiation to market events Review of material new deals Review and approval of changes to valuation adjustments & reserves Review of changes to daily balance sheet & substantiation to transactional activity   Core Financial Oversight Functions Price verification (daily, weekly, monthly) Validation of appropriate application and use of models for books & records Monthly & quarterly revenue commentary Maintaining/updating valuation adjustment & reserve policies Balance sheet analysis (capital, liquidity, exposures etc) including inventory aging and its reporting Determining and implementing appropriate accounting policies & procedures (with Accounting Policy) Managing key accounting, legal entity, regulatory and P&L issues with the business Month end close, including Financial Disclosures and calculation and recording of netting entries Exercise of control oversight on behalf of the business Participation in the New Product Review and Appropriation Request processes: modeling structures and process scenarios, review, and control Contributing to Governance process, operational error reporting and support of other internal control process, including SOX Provision of financial expertise in the design, build, testing, and implementation of new Technology Platforms and Systems   Required Skills Bachelor's degree required 7+ years of Finance, Accounting, or Commodities experience Excel, VBA, and Microsoft office suite experience Ability to act independently


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