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 serving as a finance partner to specified Lines of Business (LOBs) and directing the day-to-day finance activities to manage strategic annual planning and implementation. Key responsibilities include performing forecasting, profitability analysis, expense efficiency, pricing, financial reporting, and overseeing value creation ideas and new investment business cases. Job expectations include supporting management in key decision making, and influencing and gaining support from financial analysts.

This role as Service Charges Lead is part of the broader Regional Banking & Wealth Management Deposits & Payments Finance Horizontal team which is responsible for the support of strategic analysis, forecasting and financial reporting related to Deposit products and associated fees.  The team delivers comprehensive financial support to the Checking/Savings Accounts, Balances/NII, Service Charges, and Debit Card and Payments BFO and LOB teams.  Team responsibilities include analyzing strategic business decisions, financial performance and forecasting of multiple products, creating higher level consolidated reporting, presenting to multiple levels of business and finance audiences, etc.

The primary focus of this role is to lead our efforts to provide finance business support for the ~$2B Consumer, Small Business and GWIM Service Charges revenue line item which encompasses Overdraft (OD) fees, Account Service Charges (ASC), ATM fees, Value Added Deposit Service (VADS) fees, Provision and Non-Fraud Losses. This role will involve partnering with and supporting the Deposits BFO and the Deposits LOBs including Deposits Products, Service Fee Strategy Teams, and Deposit Credit Risk, to understand performance trends, consumer behavior and strategies. Will lead the team in analyzing strategic business decisions, financial performance and reporting deliverables and forecasting related to the service charge categories as well as Provision and Non-Fraud Losses.  Team performs all aspects of financial reporting and analysis for the product, including weekly finance updates, executive summaries, investor relations support, and ad-hoc analysis.  This role supports achievement of business goals by working on more complex activities or projects with others within the team and with partners. Leads projects and coordinates resources.

The teammate is expected to become the subject matter expert for their respective area of focus and interact directly with the Consumer Products and Small Business BFOs, other CFO partners , and Line of Business, Marketing, or Risk partners.  The individual is expected to be a self-starter and critical thinker with a demonstrated ability to act as a team lead, directing the work efforts of others.

Responsibilities:

• Oversees the financial analysis and reporting needed to provide Line of Business (LOB) and finance leadership with trends and comparisons on all financial matters, focusing on maximizing revenue growth, cost management, profitability, cash flow generation, and operational improvement
• Reviews LOBs financial performances and provides strategic direction to teams by assisting with synthesizing key trends, assessing current and future business risks, and preparing, analyzing, and reporting on financial results and key metrics
• Manages forecasting and/or budgeting and compares current performance against plan, prior periods, and forecasts to evaluate current and future performance trajectory
• Delegates and provides oversight to teams building financial management reports, presentations, and ad hoc analyses for LOBs and/or finance partners
• Implements new and ongoing projects and strategic initiatives by helping to create new processes to automate key reporting capabilities and delivering on process improvements and simplifications to enable increased focus on strategic priorities
• Builds, maintains, and manages partner relationships across the Finance division and implements policies and procedures that ensure integrity of the financials, sound controls, and effective procedures

Required Qualifications

• Bachelor’s Degree (preferably in Finance or Accounting)
• 5+ years of accounting or financial analysis work experience
• Well organized and strong attention to detail
• Demonstrates strong technical and analytical skills
• Strong communicator (verbal and written) with ability to influence
• Advanced knowledge of Excel and PowerPoint
• Approaches work with curiosity and interest to drive continuous process improvement
• Adaptable, ability to work independently in a fast paced, results driven environment with changing priorities
• Seeks to build relationships and collaborate with teammates
• Strategic thinker with the ability to understand complex business challenges/potential solutions
• Manages operational risk by building strong processes and quality control routines

Desired Qualifications

• Essbase (Smartview) and general ledger familiarity
• Planning and forecasting experience
• Financial modeling
• Emerging technologies (Tableau, Alteryx, Workiva, etc)

Skills:

• Business Process Analysis
• Collaboration
• Data Quality Management
• Financial Analysis
• Financial Management
• Analytical Thinking
• Critical Thinking
• Data Visualization
• Decision Making
• Prioritization
• Business Acumen
• Business Case Analysis
• Financial Forecasting and Modeling
• Project Management
• Reporting

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Pay Transparency details

US - NJ - Pennington - 1400 American Blvd - Hopewell Bldg 4 (NJ2140), US - NY - New York - 1100 Ave Of The Americas - Two Bryant Park (NY1540)

Pay and benefits information

Pay range

$118,000.00 - $168,000.00 annualized salary, offers to be determined based on experience, education and skill set.

Discretionary incentive eligible

This role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.

Benefits

This role is currently benefits eligible. We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.