BofA Global Banking & Markets (GBAM) Veteran Program

So I was just sitting here on post working on figuring out my future after the military and I stumbled across this. Thought it would be helpful for any vets who already have their BA/BS and are already separated or will be by March 2014. One question I have for those in the industry is this basically an in to a sales and trading position or an ibanking position? (provided one were to be accepted into this program) I have quite a way to go with school and completing my service before I can be applying for any internships or positions, but the more I know early on the better.

I originally found this from socnet where it lists a January 2014 application deadline and the start date in March.

Sorry I cannot post the links, I am still a new user so it won't let me.

Job Description
Global Banking & Markets (GBAM) Veteran Program - 1300068983
Description

Military Associate Program

Bank of America Merrill Lynch's Global Banking and Markets division has created a Veterans hiring program to provide transitioning veterans on the job training and experience in the sales, trading, research and banking businesses. This 10 week program will allow participants to explore new career opportunities in the financial industry. Final placements will be available in the Global Markets, Global Research, Global Treasury Solutions and Global Commercial Banking divisions.

Veterans in the program rotating through Sales desks will be expected to work side-by-side with sales people, traders, and research analysts, to gain a comprehensive understanding of credit fundamentals, relative-value analysis, and macro strategy. Associates are expected to facilitate desk-client interaction, generate innovative trade ideas, and understand the credit and macroeconomic environment.
Veteran rotating through Trading desks, will be expected to analyze risk reports, review credits with Desk Analysts, shadow Salespeople and interact with clients. They will learn the mechanics of trading, settlement, carry, hedging, and risk analysis and learn the dynamics of global financial and macroeconomic market forces and trends.
Veterans rotating through Structuring & Trading will work on pitches and live transactions, which may include modeling, portfolio analysis, investor analysis, preparing presentations and reviewing legal documentation. Discussions with rating agencies, investors, asset managers, lawyers, and accountants are also expected of program participants.
Veterans rotating through Global Research program will be responsible for modeling/analysis, conducting primary research, writing franchise pieces and servicing institutional clients.
Sample responsibilities and projects for Veterans placed in the Global Research program may include:

-Assembling historical financial models using SEC filings, company conference calls, and press releases

-Conducting financial, statistical and industry analysis on companies and the industry to support the team's investment the thesis

-Learning fundamentals of industry and companies covered by the team, and researching sector trends that may impact company/sector recommendations

-Writing short notes and lengthy reports on covered companies and the industry; writing sections of coverage initiations and company conference call summaries

-Initiating and building relationships with clients to develop a network of contacts appropriate to the industry covered

Veterans rotating through Global Transactional Services will receive exposure to treasury solutions, product management/innovation and risk management with intensive focus on how to best deliver innovative treasury solutions to our clients. Functional areas of the Global Transactional Services include treasury management, financial modeling and credit/risk fundamentals and relationship management.

Upon completion of the rotation, participants in the Global Treasury Solutions will:

-Understand and clearly articulate Treasury Management client needs and product profitability

-Exhibit knowledge of sales analytics, pricing models and product markets across the Treasury franchise

-Understand how a deal moves through the treasury pipeline

-Demonstrate understanding of the Treasury Management industry, both domestic and international

-Demonstrate knowledge of key product set, including the common variations and their applicability

Veterans placed in the Global Commercial Banking program will receive broad exposure to the key functional areas within Global Commercial Banking. Rotations provide exposure to credit with an intensive focus on how to best deliver innovative solutions to our clients. As a member of the Program, you will have exposure to members of the leadership team and the opportunity to interact with our clients.

Participants in the Global Commercial Banking rotation will:

-Participate in the underwriting of different credit deals (i.e. Sole bank, bilateral, or syndicated facilities)

-Produce detailed financial analysis of our Client's performance to evaluate their financial and repayment strength

-Perform in-depth industry research in order to forecast future trends

-Participate in Client Team strategy meetings regarding the pursuit of new business opportunities

-Interact with clients to obtain information for underwriting reviews, renewals, or new relationships

Qualifications

Required Skills

BS/BA degree
At least 1 year of Active duty or in the Military reserves
A strong interest in financial services
Passion for and the desire to learn more about the markets and finance
Quantitative and analytical skills
Demonstrated problem solving skills and willingness to ask tough questions
Proven leadership, team, communication, and interpersonal skills
Demonstrated ability to multi-task and prioritize in a demanding environment

Desired Skills

Proficiency in Excel and PowerPoint
An understanding of accounting, financial modeling, and corporate finance skills

Personal Traits

Highly motivated with an exceptional drive for success
Adapts easily to constantly changing environment
A track record of superior performance in extracurricular and professional activities
Assertiveness, initiative, leadership, strong work ethic, team focus
Ability to learn quickly and take on new responsibilities
Demonstrates self direction and autonomy in a rapidly changing environment

Training:

As a GBAM Veteran Program Associate you will begin your career at Bank of America Merrill Lynch with:

Formal training and on the job training providing overviews of Bank of America Merrill Lynch, its business divisions, organizational structure, product groups and technology
Senior speakers series
Access to the electronic learning network
Extensive peer and senior mentoring
Business-sponsored activities and events that create opportunities to network with Bank of America Merrill Lynch professionals and associates across multiple business groups

Our Businesses:

Global Markets

Global Markets delivers a wide range of securities products and services, powerful sales and trading capabilities and deep risk management expertise across asset classes. Closely aligned with GCIB's client-managed groups, Global Markets product specialists anticipate and meet the needs of more than 13,000 clients across 13 time zones and six continents.

Global Research

At Bank of America Merrill Lynch, Research Analysts are aligned by both product (macro, credit or equity) and/or industry group (healthcare, technology, energy, etc.). Working alongside some of the most talented professionals in the industry, Research Analysts gain the sector-specific expertise critical to building a career in Research, and contribute significantly to the in-depth research we distribute to clients worldwide.

Global Treasury Solutions

A division of Global Banking and Markets (GBAM), the Treasury team provides integrated treasury, liquidity & debt solutions to Global Corporate, Commercial and Financial Institutions. As a core member of the client team the Product Delivery Team partners closely with groups across Banking including; Product Management, Ecommerce, Card, and Debt Product Delivery teams to deliver integrated solutions to our client.

Global Commercial Banking

Bank of America Merrill Lynch is one of the largest commercial banks in the U.S., serving more than 30,000 companies with revenues of $50 million to more than $2 billion.

Our unique client coverage model and close partnerships with other lines of business, such as Global Banking and Markets, Global Wealth & Investment Management, Consumer Banking and Small Business, enable our commercial client teams to seamlessly deliver all of the enterprise capabilities as integrated solutions.

Global Commercial Banking Core Businesses:

Bank of America Business Capital

Commercial Real Estate Banking

Dealer Financial Services

Middle Market Banking

Specialized Industries

Credit Products

Locations:

Rotations available in New York with permanent placements available nationally.

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $101
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