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. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.

Being a Great Place to Work is core to how we drive Responsible Growth. This includes our commitment to being an inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.

Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations.

At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. 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 of this role is to perform Observation Management for issues impacting GRR which includes root cause analysis, thematic review of findings, and partner with key stakeholders across the organization (2nd Line, Data, Capital etc.) to design and deliver sustainable remediation solutions.

Responsibilities:

• When the third-party vendor identifies issues, this individual will conduct observation management, including root cause analysis, thematic review of findings, partner with key stakeholders to design and deliver sustainable solutions.
• Assist in the coordination of ongoing conformance and transaction testing
• 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 regulatory reporting in the financial industry
• Prior consulting and/or issues validation experience
• 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 sustainable 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

Skills:

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

Shift:

Hours Per Week: