Assistant Vice President, Finance

Officer / AVP, Finance, India

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 an 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.

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.

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

Job Description:

Financial Reporting and Accounting

Month-end/year-end closing (as per Indian GAAP/ Ind AS and US GAAP), General Ledger Reconciliation and Schedule preparations, GAAP reconciliations, quarterly corporate reporting, general ledger scrutiny and compliance with financial reporting requirements for banking entity. Assisting in compilation of financial information including analytical review for Local Management Team Committee Meetings, Audit Council, corporate audit and RBI exams

Accounts Finalization and Statutory Audit

Preparation and Finalization of accounts, reporting and internal financial controls related areas, segmental reporting, audit, compilations, certifications and other procedures requiring inter-face with auditors primarily for banking entity

Tax compliances and regulatory Reporting

Income Tax computations including advance tax and deferred tax calculations, Advance Tax, financial details for assessment proceedings, Good and Service Tax compliances including filing of returns, financial / regulatory reporting to RBI for banking entity

Analytics and MIS

Use financial data to compile analytics for internal MIS to business and senior management – focused on balance sheet trends and returns

Prepare internal MIS reports on business performance trends

Compile presentation decks for adhoc information requirements

Regulatory Reporting

Balance Sheet, Quarterly Profit & Loss Account, Bank short profile, RBS-1, etc and governance pack like Audit council, local management team, etc

Data points, control parameters and inspection under the Risk Based Supervision (RBS) approach of RBI

Compilation of data points across multiple tranches on quarterly basis along with detailed analysis and documentation for period to period variances

Documentation of control parameters and periodical review

Handling RBI inspection related information requirements, responses, and closure of remediation actions within the timelines

Automation Projects

Handling the automation of financial regulatory reporting by conducting UAT and testing of reports

Responsibilities:

• Prepare and manage regulatory reporting, statutory auditor, regulators and corporate audit.
• Partners with business on tracking business drivers and providing analytical inputs on balance sheet trends and returns for forecasting balance sheet and income statement
• Core mandate to get the numbers right, Accurate and well controlled
• Efficiency: Process optimization
• Strive for flawless, error free execution through proactive operational risk management, robust preventive controls and self-identification of issues

Required Skills:

• Years of experience: Minimum 1-4 years of post-qualified experience
• Chartered Accountant
• Strong analytical and reasoning skills
• Good communication, interpersonal and relationship management skills.
• Knowledge of banking regulations, banking products, investments and derivatives
• Ability to prioritize and ensure consistent delivery of results
• Strong team player
• Adept at using excel, power point and Systems Aptitude