Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. We are committed to attracting and retaining top talent across the globe to ensure our continued success. Along with taking care of our customers, we want to be the best place for people to work and aim at creating a work environment where all employees have the opportunity to achieve their goals.
We are a part of the Global Business Services which delivers technology and operations capabilities to Bank of America lines of business (LOB) and enterprise functions.
Our employees help our customers and clients at every stage of their financial lives, helping them connect to what matters most. This purpose defines and unites us. Every day, we are focused on delivering value, convenience, expertise and innovation for individuals, businesses and institutional investors we serve worldwide.
* BA Continuum is a nonbank subsidiary of Bank of America, part of Global Business Services in the bank.
Non-Financial Regulatory Reporting – TR ops EQA (NFRR - EQA) function has been set-up with the core objective of performing independent post process quality checks on the Non-Financial Regulatory Reports for Global Banking and Markets (GBAM) to assess the Completeness, Accuracy and Timeliness (CAT) of the reports submitted to regulators.
We are looking for an experienced associate to support the expansion of the EQA function. This is a supervisory role and has a global reach with many of the deliverables requiring global collaboration across multiple lines of business and asset classes. The purpose of the team is to drive delivery of a variety of projects (and issues) some of which we are owners, while others require relationship building, influencing skills and the ability to maintain an independent perspective. This is a very hands on role, ideal for someone with drive and willingness to learn and adapt yet also seeks the autonomy of managing and delivering projects.
The role involves performing Enhanced quality checks on EMEA TR ops reports, to assess the Completeness, Accuracy and Timeliness (CAT)) of the reports, to avoid the risk of potential reporting errors which could result in regulatory fines and reputational risk. There are 30+ reports in TR ops EMEA inventory and regional governance routines need to be evaluated to ensure efficient monitoring of relevant non-financial regulatory reports.
- Manage a team of 8-15 individuals
- Manage EQA function and India team with the domain build, execution and BAU stuff.
- Enhance control testing across TR ops reports for Completeness, Accuracy and Timeliness Also look at Pre Submission testing of reports.
- Perform governance routines to support the TR ops EQA function.
- Strong partnership around global initiatives. Lead the implementation of changes in this region and for the business.
- Provide Support to the wider NFRR Operations teams
- Understand the front to back flow of key processes and determine key areas requiring testing
- Remain current on the Regulatory Reporting landscape to ensure the firm’s reporting remains in sync with changes in regulatory environment
- Ensure documentation is being maintained in accordance with the processes and standards set out
- Assess the overall design and operational effectiveness of the existing EQA process
- Take ownership for managing risk well and be proactive in identifying and controlling risks, issues and concern. Track and highlight issues, gaps, concerns and process failures for remediation
- Work closely with LOB partners to understand processes and risks
- Drive Operational Excellence by consistently striving to achieve responsible growth
- Interactions with various stakeholders, including senior management
- Escalate issues in a timely manner
- Produce and disseminate metrics and analytics on regulatory reporting issues and testing results
- Training and on-boarding new hires
- Execute all the process related admin tasks
No specific qualifications required.
12 to 16 years of overall experience with at least 2-3 years of Regulatory Reporting experience
- Strong understanding of the regulatory trade and transaction reporting landscape (especially APAC/ UK / EU / US regulations)
- Good understating of various regulations like EMIR. MiFID, Dodd Frank, CFTC, FINRA etc.
- Experience of working in Financial Services, especially Investment Banking
- Knowledge of Middle Office and Back Office processing (trade capture, confirmation, settlements, lifecycle management, etc.)
- Experience in regulatory reporting processes, ideally involving testing or quality assurance of regulatory reports
- Product specific knowledge of transaction and other reporting operations
- Good people management skill
- Experience in analyzing and documenting business processes and develop solutions
- Experience in carrying out thematic deep dives
- Experience in managing small / medium-size / large projects/ Stakeholder / Client Management
- Excellent analytical and problem solving skills, ability to demonstrate decisiveness and sound sense of judgment, knowing when to escalate
- A self-motivated, structured and logical thinker
- Partnership and communication skills (verbal and written
- Strong assertiveness, listening, influencing and diplomacy skills
- Attention to detail, delivering high quality output
- Ability to work well with and communicate with others, from teammates to executives
- Ability to juggle multiple work efforts and to quickly change direction as needed
- Strong controls background with previous experience of implementing and maintaining key business controls
- Should be a team player with strong execution focus
- Good project management skills
- Adapts to changes and has a proven track record of working as part of a global team
- Proficient in MS Office application like word, Excel and PowerPoint, Visio
- Experience in producing MI reports and tracking reportable MI
- Some exposure to the regulatory trade and transaction reporting landscape would be beneficial
- Familiarity with QA processes
- Global Markets Product Knowledge would be an added advantage
- Focuses strategies on delivering superior value to internal and external clients
- Translates strategies into plans that can be effectively executed
- Anticipates risks and obstacles and devises plans to manage them
- Pursues aggressive goals and continuously raises performance expectations to achieve excellence
- Appreciates the cost impact of actions and is commercial in decision-making
- Promotes continuous learning and development
- Takes personal ownership for delivering superior services to internal and external clients
- Makes tough decisions when they are needed and acts quickly in getting things done
- Demonstrates the courage to express or defend unpopular decisions
- Maintains a constructive, positive outlook even when plans are thwarted
- Manages own time well, agreeing priorities
- Multi-tasks effectively, work well under pressure and meets tight and changing deadlines
- Organises and runs effective meetings and workshops
- Communicates clearly and concisely, verbally and in writing, at all levels within the organization
Flexible shifts and weekend off
- APAC – 7.30 to 16.30
- EMEA – 12.30 to 21.30
- US/LATAM – 17.30 to 2.30
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