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Bank of America Senior Financial Reporting Product Specialist in Boston, Massachusetts

Job Description:

Business Overview:

Retirement & Personal Wealth Solutions (RPWS) serves the core financial needs of individual clients and plan participants by connecting our capabilities across the firm. RPWS is responsible for the development and execution of a comprehensive set of personal wealth and retirement products and services through Banking, Merrill Edge and Advisory channels. RPWS provides tools and content that enables financial advisors and bankers to help their client’s live better financial lives.

Job Description:

The Sr. Financial Reporting Product Specialist is part of Bank of America Merrill Lynch’s Equity Plan Services product team that assists our corporate clients with financial reporting for equity-based compensation.

The Specialist will serve as a subject matter expert and will understand, interpret, and translate accounting standards, specifically ASC 718, for our equity compensation accounting and financial reporting application. This position will also assist with client relationship management in understanding clients’ equity plans and how they can be supported on the platform and explaining our methodologies.

Required Qualifications:

Key Responsibilities:

  • Understand system functionality, design, application users, and target markets

  • Understand system calculations and dependencies as they relate to ASC 718 compliance for equity-based compensation, including ESPP

  • Assist with sales demonstrations and request for proposal reviews

  • Serve as tier II support to the client services team and assist as needed with:

  • New-client implementations

  • Client inquiries that are escalated to the product team related to complex situations that arise in equity compensation

  • Write new and maintain existing User Guides for Expense, Deferred Tax, EPS Dilution, and Disclosure reporting

  • Gather business and product requirements and create related use cases and functional specifications

  • Participate in product and market research to gather and validate user requirements for new product development

  • Support the development and quality assurance teams by possessing sufficient system knowledge

  • Work with product development technical staff and financial engineers

  • Create calculation test cases to support accurate financial model implementation; verify expected output, and analyze regression testing variances

  • Quickly understand business issues and data challenges related to financial reporting for equity compensation instruments

Skills Required:

  • Proficiency in the application of accounting and finance concepts pertaining to ASC 718

  • Strong problem-solving and analytical skills, including data analysis and interpretation

  • Excellent written and verbal communication skills including impeccable grammar

  • Very good client interaction skills

  • Ability to work on multiple projects simultaneously and to manage conflicting deadlines and priorities

  • Highly detail-oriented, organized, self-motivated, and able to work with minimal supervision

  • Demonstrated ability to self-learn quickly and independently

  • Strong skills in Microsoft Office Excel and Access

Experience Required:

  • ASC 718

  • Minimum 3 years’ experience with finance / accounting applications

  • Minimum 5 – 7 years’ experience in a similar capacity

  • Client-facing application product development

Experience Desired:

  • Previous experience as a financial analyst, accountant, or other domain-related position

  • ASC 260

Educational Requirements:

  • Bachelor’s degree in Accounting, Finance, or similar discipline strongly preferred.

  • CPA or CEP a plus.

Posting Date : 04/24/2019

Location :

Scottsdale, AZ, Kierland FC, 14636 N Scottsdale Rd,

Littleton, CO, PARKRIDGE FOUR, 10375 PARK MEADOWS DR,

Jacksonville, FL, JACKSONVILLE 2, 4802 DEER LAKE DR E,

Boston, MA, 225 FRANKLIN ST (MA1225),

Jersey City, NJ, 101 HUDSON ST (NJ2101),

Pennington, NJ, HOPEWELL BLDG. 4, 1400 AMERICAN BLVD,

  • United States

Travel : Yes, 10% of the time

Full / Part-time : Full time

Hours Per Week : 40

Shift : 1st shift

Assistance for Applicants with Disabilities

Bank of America is committed to ensuring that our online application process provides an equal employment opportunity to all job seekers, including individuals with disabilities. If you believe you need a reasonable accommodation in order to search for a job opening or to submit an application, please visit the Applicants with Disabilities page at http://careers.bankofamerica.com/us/applicants-with-disabilities .

Diversity & Inclusion

At Bank of America, our commitment to diversity and inclusion is helping us to create not only a great place to work, but also an environment where our employees, our customers and our communities around the world can reach their goals and connect with each other. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status.

Frequently Asked Questions

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