Global Regulatory Reporting Observation Management Sr. Specialist

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:

The Global Regulatory Reporting (GRR) function, a part of the Global Financial Control organization within the CFO Group, is responsible for accurate filing of non-liquidity related financial regulatory reports. A third-party vendor will perform conformance and transaction testing on GRR high-risk reports. The primary responsibility of this role is to perform observation management which includes root cause analysis, thematic review of findings, and partnership with key stakeholders to design and deliver on remediation solution.

Responsibilities:

• When the third-party vendor identifies issues, this individual will conduct observation management, including: root cause analysis, thematic review of findings, partnership with key stakeholders to design and deliver on remediation solution.
• Assist in the coordination of conformance and transaction testing performed by third-party vendor
• Adequately document and retain test results, evidence of observations, and ensure that observed points of weakness in controls and non-conformance are documented in a clear, concise, and actionable manner
• Support the Observation Management Lead in identification of and working with key stakeholders to review and validate observations
• Continuously apply lessons learned to recommend opportunities for increased effectiveness and efficiency of our observation management approach

Required Qualifications:

• 3-5+ years experience in regulatory reporting or related field in the financial industry
• Demonstrates a healthy skepticism and ability to partner with a third-party vendor to understand findings for root cause analysis
• Controls mindset with ability to perform root cause analysis and design adequate solutions
• Strong written and verbal communication
• Committed to continuous improvement of processes to maximize effectiveness and improve efficiency
• Proven ability to work in a collaborative environment to achieve stated objectives

Desired Qualifications:

• Understanding of our regulatory environment  
• Bachelor’s degree or equivalent work experience

Skills:

• Critical Thinking
• Decision Making
• Issue Management
• Oral Communications
• Written Communications
• Analytical Thinking
• Change Management
• Presentation Skills
• Regulatory Compliance

Shift:

Hours Per Week: