Bank of America Corporation

Audit Manager - (Traded Products-GAAP/IFRS)

Bank of America Corporation • $100K — $130K *
Charlotte, NC 28269In-Person
Finance & Insurance
8 - 10 years of experience
2 months ago
Job Overview by Ladders

Qualifications

  • Fully qualified professional accountant (CPA, ACA, ACCA, or equivalent), or a degree in accounting or related field
  • Minimum of eight years' experience in financial reporting or similar functions within a large multinational bank
  • Strong understanding of banking products and operational risks
  • Experience in risk, testing, compliance, or audit
  • Demonstrated experience in a leadership role with a focus on mentoring

Responsibilities

  • Execute audit strategy through defining scope and drafting reports using innovative methods
  • Act as Auditor-in-Charge overseeing audit execution to conform with quality standards
  • Assess business processes and provide severity ratings for impacts on controls
  • Influence management to improve the control environment through intellectual challenge
  • Foster an inclusive team environment, mentoring associates on audit practices
  • Maintain strong business partner relationships to enhance business knowledge
  • Evaluate appropriateness of accounting treatment under US GAAP, offering insight on IFRS differences

Benefits

  • Mentoring and professional development opportunities
  • Inclusive work environment
  • Opportunity to oversee and influence audit practices
  • Engagement in innovative audit methodologies
  • Collaboration with diverse teamwork across locations
Full Job Description
Job Description:

This job is responsible for overseeing assigned areas of audit work acting as an Auditor-in-Charge (AIC), and executing on the audit strategy for Lines of Business (LOBs). Key responsibilities include driving risk-based auditing by defining scope and test procedures to evaluate the control environment in conformance with audit policies, assessing issues for business impact and recommending severity ratings, drafting audit reports, and managing business partner relationships. Job expectations include fostering an inclusive work environment, and mentoring team members.

In addition, this role is expected to act as a subject matter expert (SME) on accounting matters, with a strong focus on the US GAAP accounting treatment of banking and traded products. Job expectations include evaluating and opining on the appropriateness of accounting treatment under US GAAP, and articulating key differences between US GAAP, IFRS, and other relevant accounting frameworks as they relate to banking activities and traded products. This expertise supports audit risk assessments, issue evaluation, and effective challenge of management judgments.

The role also includes fostering an inclusive work environment and mentoring team members to support professional development and audit quality.

Responsibilities:

  • Executes audit strategy for the sound application of risk-based auditing by defining audit scope and audit programs, and drafting audit reports leveraging automation and innovative methods in a timely and high quality manner
  • Acts as Auditor-in-Charge (AIC) by overseeing audit testing and ensuring it is executed in a timely manner and conforms with quality standards, audit policies, and procedures
  • Assesses impacts to business processes, controls, and strategies to provide recommendations on severity ratings and escalate broad themes or trends accordingly based on existing business knowledge
  • Exercises intellectual curiosity and judgment to effectively influence and challenge management to improve the control environment and drive continuous improvements on audit
  • Oversees a team of associates and provides day-to-day mentoring and guidance and fosters an inclusive work environment
  • Maintains business partner relationships, primarily with line management, to develop business knowledge
  • Exercises sound knowledge of product, business, and technical expertise to effectively challenge management to improve the control environment
  • Serve as a subject matter expert (SME) on accounting matters, with a strong focus on the US GAAP accounting treatment of banking and traded products
  • Evaluate and opine on the appropriateness of accounting treatment under US GAAP, including management interpretations, estimates, and adjustments impacting financial results. Provide expert challenge and insight on differences between US GAAP, IFRS, and other relevant accounting frameworks as they relate to banking activities and traded products and assess the audit and control implications of those differences
  • Oversee the planning, execution, and quality of SOX testing for assigned areas, including evaluating control design and operating effectiveness and assessing the impact of identified deficiencies


Required Qualifications:

  • Fully qualified professional accountant (CPA, ACA, ACCA, or equivalent), or a degree in accounting or job related field
  • Minimum of eight years' work experience, the majority of which is spent in a financial reporting function or similar function (preferably product control) within a large multinational bank
  • Understanding of banking products
  • Evaluates processes and operational risks to identify controls and determine gaps
  • Experience with data management and governance
  • Experience in risk, testing, compliance, audit or related work experience
  • Experience in a people leadership role
  • Builds strong team relationships through effective communication and collaboration
  • Executes multiple tasks simultaneously
  • Displays a proactive mindset and effective time management
  • Demonstrates a results-driven and detail-oriented mindset


Desired Qualifications:

  • Experience as an Auditor-in-Charge overseeing audit jobs, performing timely execution and aligning with audit standards, policies and procedures
  • Demonstrated understanding of: US GAAP accounting, IFRS and other relevant European GAAP Frameworks
  • Experience applying U.S. GAAP, IFRS, and applicable European GAAP frameworks to bank-traded products
  • Auditor and/or similar certification
  • Experience in project management
  • Demonstrates ability to influence, drive change and resolve conflicts
  • Knowledge of data analytics tools (e.g. Altreryx, Excel, SQL) is preferred


Skills:
  • Analytical Thinking
  • Audit Planning
  • Internal Audit Review
  • Issue Management
  • Risk Management
  • Business Acumen
  • Coaching
  • Project Management
  • Relationship Building
  • Ability to work with diverse, multi-location and international teams
  • Attention to Detail
  • Automation
  • Critical Thinking
  • Strong multi-tasking abilities, with experience working on multiple critical tasks concurrently


Shift:
1st shift (United States of America)

Hours Per Week:
40

About Bank of America Corporation

Bank of America Merrill Lynch is the corporate and investment banking division of Bank of America. It provides services in mergers and acquisitions, equity and debt capital markets, lending, trading, risk management, research, and liquidity and payments management. It was formed through the combination of the corporate and investment banking activities of Bank of America and Merrill Lynch following the acquisition of the latter by the former in January 2009. Bank of America completed the acquisition of Merrill Lynch & Co on 1 January 2009. Bank of America began rebranding all of its corporate and investment banking activities under the Bank of America Merrill Lynch name in September 2009. In April 2010, Bank of America Merrill Lynch appointed Christian Meissner as head of investment banking for Europe, Middle East and Africa. In April 2011, Bank of America Merrill Lynch integrated its corporate and investment banking operations into a single division. In October 2013, Bank of America Merrill Lynch was recognised as the Most Innovative Investment Bank of the Year in The Banker's Investment Banking Awards.

Bank of America Corporation Careers

Join the dynamic team at Bank of America Corporation, a premier global financial institution where innovation, leadership, and growth go hand in hand. As one of the largest banks in the world, we offer unparalleled job opportunities and a culture that values diversity, inclusion, and professional growth. Work You’ll Do At Bank of America Corporation, you’ll be part of a team that’s dedicated to making a real difference. Whether you’re helping families buy their first home, advising businesses on expansion, or developing cutting-edge financial technologies, your work will have an impact. Our commitment to leadership in the financial industry has never been stronger, and we need passionate, skilled professionals to lead our journey. Explore a World of Opportunities From entry-level positions to leadership roles, Bank of America Corporation offers a variety of career paths in areas such as investment banking, technology, marketing, and risk management. Our job opportunities span the globe, providing the chance to work alongside the best in the industry and develop skills that will propel your career forward. Internship Programs Kickstart your career with Bank of America Corporation’s internship programs. These opportunities provide hands-on experience and a chance to engage in meaningful work that complements your academic studies. Interns gain invaluable networking opportunities, receive mentorship from seasoned professionals, and learn about the culture and operations of a global financial leader. Benefits and Growth Bank of America Corporation is committed to the well-being and continuous professional development of our team members. We offer a competitive benefits package that supports the health, financial stability, and work-life balance of our employees. Our training programs and development initiatives ensure that every team member has the opportunity to grow and advance within the company. Inclusive Culture We believe our strength lies in our diversity. Bank of America Corporation fosters an inclusive environment where all employees can thrive. Through diversity training and a commitment to equal opportunities, we cultivate leadership and innovation that reflect the wide-ranging communities we serve. Join Our Team Are you ready to advance your career at a company that’s at the forefront of the financial industry? Explore the positions available at Bank of America Corporation and find where your skills and interests align with our needs. We are continuously hiring and looking for individuals who are curious, creative, and eager to drive change. Stay Connected Keep up to date with the latest from Bank of America Corporation Careers by subscribing to our job alert emails. Tailor your subscription to receive updates that match your career interests and get insider tips that can help you during your application and interview process. Bank of America Corporation is not just a company—it’s a place where you can shape your future and the future of finance. Join us and be part of a team that’s redefining what a bank can be.
Learn more about Bank of America Corporation
Size
208,000 employees
Market Cap
$260.3 billion
Industry
Finance & Insurance
Net Income
$17.8 billion
Founded
1998
5 Year Trend
-1.4%
NASDAQ
BAC
* Ladders Estimates

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