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!

This job is responsible for ensuring operational data is fit for purpose, defining controls, and monitoring processes are in adherence to enterprise data management standards. Key responsibilities include triaging and remediating data incidents, performing data analysis, training new users, and performing impact analysis stemming from data updates. Job expectations include helping in defining access and ownership of data by domain, conducting quality control, and overseeing data maintenance.

This role will support Profit Data Management (PDM) – Customer Activity Based Costing (a.k.a. Profit/ABC), which is an enterprise application and primary source of non-interest expense inputs to the Enterprise Customer Profitability authorized data source. Enterprise Customer Profitability produces risk adjusted profitability data for ~ 210MM customer accounts each month utilizing instrument level operational data.

The scope of Customer Activity Based Costing spans the following lines of business:

• Retail and Preferred

• Merrill

• Private Bank

• All support organizations of the above

As a member of the PDM team, this associate will support data analytics and controls, business partner education and consultation including support for research and ad hoc requests, financial transparency into Profit/ABC and General Ledger (GL) differences, change projects, and process improvements. Primary area of support will be Activity Based Costing studies and consultation with our business partners across the Enterprise, development of existing and new business and customer processes to be represented in Profit/ABC, and transforming GL expenses to customer experience sales, fulfillment, service activities.

Responsibilities:

• Support Profit/ABC Annual Cost Study refresh, monthly production with analysis, execution of controls and communications to ensure timely and accurate data delivery

• Demonstrate proficiency of Profit/ABC methodologies, taxonomy, logic, data lineage and understand strategic uses of customer profitability and ABC data

• Field user questions regarding differences between ABC inputs, outputs and GL data

• Present to business partners, including senior management, to improve overall understanding of Profit/ABC data and the benefits it provides

• Partner with Line of Business Finance, Operations, Marketing and Tech Teams – to understand and/or identify opportunities for integrating Profit/ABC data into internal management routines

• Participate in developing requirements, supporting design and execute testing for changes

• Ensures data is accurate, complete, and fit for performing data analyses through various testing procedures and data controls which help to identify business insights fit for purpose for a particular product set

• Develops and executes on Enterprise Data Management policies and standards, works across teams to ensure adherence, serves as a key point of contact for all topics related to data compliance, and manages operational elements of the (Enterprise Data Strategy Governance and Operations (EDSGO) relationship

• Manages data related incidents and identifies, communicates, and resolves or escalates issues as needed. Data inquiries include questions related to data issues, availability of data, and potential sourcing alternatives to inform

• Develops, manages, and executes on controls, ensuring tracking, monitoring, and resolution of any control breaches with data platform

• Partners with Business and Technology functions to drive the development of business and functional requirements documents and ensures strategic upstream resolution for data related incidents

Required Qualifications:

• 5 years of financial/analytical experience in the banking/financial services industry

• Understanding of banking products and financial statements

• Strong research & analytic skills using querying tools and Excel

• Ability to translate data into information and create the ‘story’ for end users

• Excellent written and verbal communication and presentation skills

• Initiative-taker with ability to manage multiple tasks/responsibilities simultaneously

• Ability to build strong working relationships to effectively navigate across the PDM organization and with various business partners

Desired Qualifications:

• Accounting, Finance or Business degree

• Experience working with cross functional technology, LOB, and finance teams

• Emerging Technology (Alteryx, Tableau, etc.)

• SQL knowledge

• Familiarity with Bank of America’s financial reporting tools (i.e., eLedger)

• Usage and familiarity with customer profitability and activity based (unit) costing concepts

Skills:

• Data Collection and Entry

• Data Management

• Data Modeling

• Issue Management

• Policies, Procedures, and Guidelines Management

• Analytical Thinking

• Collaboration

• Data Governance

• Data Quality Management

• Data and Trend Analysis

• Business Acumen

• Controls Management

• Production Support

• Regulatory Compliance

• Solution Design

Shift:

Hours Per Week: 

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