Assistant Vice President, Transaction Reporting, Global Markets Operations

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. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day.

One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We’re devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.

Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.

Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us!

Job Description:

TR Ops is responsible for ensuring the completeness, accuracy and timeliness of the Bank’s transaction reporting obligations across multiple global regulatory jurisdictions. The global team is functionally aligned into the following teams: Submission Control, Enhanced Quality Assurance, Delegated Reporting, Remediation, Initiatives and Governance.

This role is within the EQA team within Transaction Reporting Operations. The purpose of the team is to apply analytical expertise to identify and root cause data quality issues across jurisdictional regulatory reporting, working with colleagues in TR Ops, Compliance, Operations and Technology. This is a very hands on role, ideal for someone who has a keen eye for detail and a very pro active approach to their work and who possesses good knowledge of cross jurisdictional reporting regulations and the reporting system architecture.

Executing daily BAU accuracy control functions across multiple Jurisdictional transaction reports.
Analysing and working on very large data sets daily.
Independently managing risk and ensures all issues are identified, tracked, and escalated in a timely manner.
Partnering with TR Ops colleagues, business SMEs, Front office, operations, Technology and Compliance to resolve and co-ordinate the resolution of  issues.
Working  closely with EQA team members daily to assist with the delivery of all BAU items.
Working with Project and Change teams on all regulatory change / new regulations items to ensure minimal impact to the completeness and accuracy of BofA reporting.
Managing Korean language communications both internally and externally.
Using both automated and manual tools to execute all daily BAU controls.
Responsible for independently managing the day to day workload across multiple daily deliverables.

WHAT ARE WE LOOKING FOR?
Regulatory Background:
o Basic understanding of the regulatory trade and transaction reporting landscape would be ideal.
o Familiar with key regulations covered by TR Ops: CFTC, EMR, SFTR, MIFID, HKMA, ASIC, MAS, KRX.
o Prepared to remain current on the regulatory reporting landscape to ensure the firm’s reporting remains in step with any changes.
Industry Experience:
o Experience of working in Banking MO, Operations or other relevant functions.
o Experience in data quality transaction reporting issues, including accuracy and completeness.
o Familiar with key trade flow components: how trades are booked, cleared, captured, consumed by the reporting systems, processed, submitted to the regulatory / repository).
o Product specific knowledge inside / outside of transaction reporting operations.
o Experience in key transaction reporting systems and how they interact with each other.
Required;
o Strong Korean Language skills are needed to interact effectively with regulators in South Korea.
o Ability to multitask and independently manage daily workload.
o Strong Excel skills and experience analysing large data sets.
o Excellent communication skills.
o Excellent analytical mindset and attention to detail.