Senior Regulatory Reporting Controller

Job Description:

Job Title: Senior Regulatory Reporting Controller

Location: London

Corporate Title: Director

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:

Global Regulatory Reporting is part of Global Financial Control and is located in the US, UK, Ireland, France and India.  The EMEA team for capital reporting currently consists of over 50 people in Europe and India and we are expanding the team. In addition to our regulatory deliverables and projects, we are involved in various activities such as providing capital adequacy impact analysis to various Front Office groups, risk management, model developers and other strategic project groups with the key stakeholders being GRR EMEA country heads, Griffin data ops, IT, front office traders, Data Management, Change Management.

Responsibilities:

This role is a senior role in UK 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 UK and EU reporting teams, with both onshore and offshore producing 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

• Daily capital calculations/analysis - Review daily RWA calculations to be incorporated in the daily capital adequacy status sent out to senior managers to support management of UK and EU entities

• FRTB - Involved in implementation of FRTB rule changes/updates for capital requirements and external reporting scheduled for 2026, including model and system testing and development of the reporting capabilities

• 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

• Rules changes - Involved in implementation of rule changes/updates for capital requirements and external reporting

• Business Partnering – Working on a constant basis with Front Office and other groups on capital management on the existing trade portfolio and assessing impact of new products and strategies and helping them with RWA efficiency work

• Issue management – leading the team in identifying and remediating process and other issues impacting the Capital Reporting process

• Stakeholder interaction - Deal with ad-hoc requests from external regulators and partnering and internal stakeholders such as Risk, Internal Audit and Compliance

• Process improvement - Participate in assignments to identify and implement improvements to the process and control framework within which the group operates

• 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

What we are looking for:

• Qualified Accountant, CFA or equivalent or a relevant degree or experience

• Extensive experience in a prudential regulatory reporting function in an international financial institution

• Experience in building and leading a high performance team including offshore teams, with the proven ability to influence stakeholders

• Excellent knowledge of the current EU and UK regulatory framework, specifically market and CVA under standardised and modelled approaches

• Experience in CoRep and Pillar 3 disclosures

• Understanding of Market risk management concepts (e.g. diversification, hedging, payoff profiles, etc.)

• Good product knowledge including payoff types and product features (KI/KO, structures, futures vs forwards, etc.)

• Understanding of market conventions, underlyings and impact of reference data on calculations

• Ability to understand implications of regulatory requirements on technical implementation of the calculations

• Control focused mentality, ability to identify potential control issues and find solutions

• Experience of using Axiom or other vendor regulatory calculation solutions

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 sex, gender identity or gender reassignment, marital or civil partner status, race, religion or belief, colour, nationality, ethnic or national origins, age, sexual orientation, pregnancy or maternity, socio-economic background, responsibility for dependants 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.