Global Regulatory Reporting Observation Management Lead

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. The primary responsibility for this role is to manage the day-to-day operations of the US-based observation management team. Observation management includes root cause analysis, thematic review of findings, and partnership with key stakeholders to design and deliver on remediation solution. This role reports to the Conformance Program and Observation Management Executive.

Responsibilities:

• Manage the day-to-day operations of the US-based observation management team. When issues are identified in our production processes, this team will conduct observation management, including: root cause analysis, thematic review of findings (in partnership with the Charlotte-based observation management team), and partnership with key stakeholders to design and deliver on remediation solution.
• Partner with the Governance & Control team to ensure observations are properly reported in appropriate governance routines
• Assist the Conformance Program and Observation Management Executive in develop a sustainable operating model for conformance and observation management which, over time, is not dependent on third-party vendor resources
• Identify and work with key stakeholders to review and validate observations
• Continuously apply lessons learned to improve effectiveness and efficiency of our observation management approach
• Recruit, train and retain resources with adequate skills for observation management and remediation
• Significant partnership with many global stakeholders, including GRR executives, GRR process owners, Global Compliance & Operational Risk, Corporate Audit, CFO Data Management, and CFO Change

Managerial Responsibilities:
This position may also have responsibilities for managing associates. At Bank of America, all managers at this level demonstrate the following responsibilities, in addition to those specific to the role, listed above.

• Diversity & Inclusion Champion: Models an inclusive environment for employees and clients, aligned to company D&I goals
• Manager of Process & Data: Demonstrates deep process knowledge, operational excellence and innovation through a focus on simplicity, data based decision making and continuous improvement
• Enterprise Advocate & Communicator: Communicates enterprise decisions, purpose, and results, and connects to team strategy, priorities and contributions
• Risk Manager: Ensures proper risk discipline, controls and culture are in place to identify, escalate and debate issues
• People Manager & Coach: Provides inspection, coaching and feedback to motivate, differentiate and improve performance
• Financial Steward: Actively manages expenses and budgets in alignment with objectives, making sound financial decisions
• Enterprise Talent Leader: Assesses talent and builds bench strength for roles across the organization
• Driver of Business Outcomes: Delivers results by effectively prioritizing, inspecting and appropriately delegating team work

Required Qualifications:

• 15 years+ experience in regulatory reporting and an understanding of our regulatory environment
• Bachelor’s degree or equivalent work experience
• Proven leadership experience of managing a team
• Strong 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
• Demonstrated ability to interact with 2nd and 3rd lines of defense in a constructive manner
• Proven ability to work in a collaborative environment to achieve stated objectives

Desired Qualifications:

• Prior audit, testing or issue management experience
• Experience in providing thought leadership and ability to lead without direct authority

Skills:

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

Shift:

Hours Per Week: