Bank of America Merrill Edge Revenue Manager in Charlotte, North Carolina
Supports $1B in revenue and over $165B in brokerage assets. Revenue is comprised Deposits and Margin NII [FTP (management accounting value of deposits) and interest expense for rate paid on deposits], brokerage income, asset management fees, and other non-interest income.
Significant line of business partner interaction with Client Management and Self Directed Sales leaders and their teams, Consumer and GWIM controller teams, GWIM BFO Finance, and Consumer Deposits BFO finance.
Responsible for forecasting revenue and KPIs for 4 products [Legacy Advised, Merrill Edge Select Portfolio (MESP), Self-Directed, and Merrill Edge Guided Investing (MEGI)] across numerous revenue streams [Asset Management Fees, Trading Revenue, Mutual Fund Sales and Trails, Account Fees, etc.] Strong partnerships with GWIM BFO and Controller finance teams given revenue for Merrill Edge is channeled from GWIM Finance. Reconciliation between GWIM and Edge finance required during forecast cycles at the product and revenue stream level.
Responsible for leading and working with GWIM Finance on non-interest income stress testing, maintaining Tier 1 CUS, and all associated revenue stress documentation.
Merrill Edge is constantly changing and evolving and is strategically important to both Consumer and Merrill Lynch. This role is responsible for actively working with Merrill Edge business partners on analytics for new products, new pricing, new business strategies, and implications of government regulations.
Measure of complexity:
High complexity (constantly evolving business, impacts of government regulations, understanding of markets and drivers of brokerage asset revenues, Regulation W – Zero Dollar Trade reimbursements from BANA to MLPFS, revenuedependency/integrationwith Merrill Lynch)
Complexity also exists in the many different vantage points for which Merrill Edge revenue needs to be analyzed and managed - Total Merrill Edge Product Revenue, Consumer view of Merrill Edge Product Revenue (excludes Reg W revenue), Consumer Non-Interest Income, and Consumer Investment and Brokerage Services.
Frequent senior executive interaction
Government regulations and new business strategies have put significant pressure on Merrill Edge margins. This position is crucial for optimizing Merrill Edge revenue by advising and influencing the direction of the business.
A strong candidate should be detail oriented, demonstrate a continuous desire to learn, and have strong communication, analytical, organizational, and business partnering skills.
This position is posted as a Manager Finance Business Support but is flexible to be filled as a Senior Financial Analyst if the posted qualifications are met by a strong Senior Financial Analyst level applicant.
3-5 years of finance experience
Business Partnering skills
Advanced excel skills
Planning and Forecasting experience
Posting Date : 09/13/2017
Charlotte, NC, ONE BANK OF AMERICA CENTER, 150 N COLLEGE ST,
- United States
Travel : No
Full / Part-time : Full time
Hours Per Week : 40
Shift : 1st shift
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