Regulatory Reporting Controller

Job Description:

Job Title: Regulatory Reporting Controller 

Corporate Title: Assistant Vice President

Location: London or Dublin

Company Overview:

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!

Location Overview:

Our London office is based just a stone’s throw from the magnificent St. Paul’s Cathedral on bustling King Edward Street. Here you’ll find modern workspaces and a state-of-the-art auditorium space. In addition, we’re proud to host an onsite restaurant that shares our commitment to sustainability by providing delicious seasonal menus which have been created with the planet in mind. Make sure to take time for yourself and head up to our rooftop terrace and take in the spectacular views across London. Finally, your physical wellness is well-catered for with our onsite gym facilities and medical centre.

The Team:

The Regulatory Reporting team are the principal point of contact for the regulators for all requests with regard to the regulatory requirements. We are involved in various activities such as production of regulatory Capital reporting, review of daily internal capital reports, providing capital impact analysis to various FLUs on new products/transactions, client migrations and other strategic projects as well as having input into the Capital Planning activities giving the team exposure to other teams such as Risk, Compliance, ECM, Finance and FLUs.

The team is made up of members in the Dublin, Paris and London office and supported by the India team. We are committed to the development of our people through:

• Internal targeted training as well as assisted study for professional qualifications.
• Work life balance.
• Special interests such as volunteering and the environmental working group.
• With your ambition, we will constantly develop your skills to enable you to reach your full potential.

Responsibilities:

This is a role in EMEA Regulatory Reporting team. The role will deepen your knowledge of financial products and provide a great opportunity to build knowledge of prudential regulation.  Responsibilities include:

• Helping to oversee the EU and UK capital calculations and reporting of 3 prudentially regulated entities. The team carries out all of the standardised and internal model RWA calculations and reporting across UK, France and Ireland
• Capital calculations/analysis - Review daily/weekly RWA calculations to be incorporated in the capital adequacy status sent out to senior managers to support management of UK and EU entities
• External Regulatory Reporting and Disclosures – Produce the quarterly returns including manual adjustments, reconciliations, period on period variance analysis for UK and EU entities, presenting these results to management
• Support the Capital Reporting process (both internally and externally), in particular the preparation of Credit Risk
• System development (BAU) – Initiation of technology change to support changing rules, and our continuing process to improve efficiency and controls. Review of business requirements, help with data sourcing and carry out UAT and post deployment testing
• System development (Strategic) – As a user help to define data/ calculation/reporting requirements for an in-flight infrastructure project including analysis tools
• Keep up to date with applicable regulatory reporting requirements
• Business Partnering – Collaborate with Front Office, market risk, model developers and other groups on capital management and RWA efficiencies
• Stakeholder interaction - Deal with ad-hoc requests from external regulators and partnering and internal stakeholders such as Risk, Internal Audit and Compliance
• Issue management – leading the team in identifying and remediating process and other issues impacting the Capital Reporting process
• Continuously assess and enhance regulatory reporting processes, improving the quality of our regulatory submissions and identifying new approaches to improve efficiencies
• Contributing to Governance process, operational error reporting, documentation and EUC controls, and support of other internal control process
• Assist with ad hoc projects which are expected to include a diverse range of projects including implementation of new regulatory reporting requirements and strategic regulatory reporting infrastructure

What we are looking for:

• Qualified Accountant (ACA, ACCA, CIMA or equivalent) with good working knowledge of accounting concepts or a relevant degree.
• Experience in a prudential regulatory reporting function in an international financial institution
• An excellent understanding of the regulatory reporting environment. Knowledge of prudential reporting across key risks, mainly Credit Risk and Market Risk considered an advantage.
• Experience in CoRep and Pillar 3 disclosures
• Proactive, enthusiastic individual with a control focused mentality  
• High level of ownership, proven analytical skills, and attention to detail
• Display a willingness to learn through research, enquiry, and escalation
• Knowledge of Axiom regulatory application would be an advantage
• Keen interest in and aptitude for developing an understanding of the regulatory framework and rules

Benefits of working at Bank of America:

UK

• Private healthcare for you and your family plus an annual health screen to help you manage your physical wellness with the option to purchase a screen for your partner

• Competitive pension plan, life assurance and group income protection cover if you become unable to work as a result of a disability or health reasons

• 20 days of back-up childcare including access to school holiday clubs and 20 days of back-up adult care per annum 

• The ability to change your core benefits as well as the option of selecting a variety of flexible benefits to suit your personal circumstances including access to a wellbeing account, travel insurance, critical illness etc.

• Access to an emotional wellbeing helpline, mental health first aiders and virtual GP services.

• Access to an Employee Assistance Program for confidential support and help for everyday matters

• Ability to donate to charities of your choice directly through payroll and the bank will match your contribution

• Opportunity to access our Arts & Culture corporate membership program and receive discounted entry to some of the UK’s most iconic cultural institutions and exhibitions.

• Opportunity to give back to your community, develop new skills and work with new groups of people by volunteering in your local community.

Bank of America:

Good conduct and sound judgment is crucial to our long term success. It’s important that all employees in the organisation understand the expected standards of conduct and how we manage conduct risk. Individual accountability and an ownership mind-set are the cornerstones of our Code of Conduct and are at the heart of managing risk well.

We are an equal opportunities employer and ensure that no applicant is subject to less favourable treatment on the grounds of gender, gender identity or gender reassignment, marital or civil partner status, race, religion or belief, colour, nationality, ethnic or national origins, membership of the Traveller community, age, sexual orientation, pregnancy or maternity, civil status,  socio-economic background, family status or physical or mental disability. The Bank selects candidates for interview based on their skills, qualifications and experience.

We strive to ensure that our recruitment processes are accessible for all candidates and encourage any candidates to tell us about any adjustment requirements.