Regulatory Reporting Operations Senior Professional

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:
This job is responsible for defining, providing and overseeing analytical processes for highly complex regulatory reporting for one or more operations product teams. Key responsibilities include managing complex projects and workstreams involving systems enhancements, process improvements, products and services. Job expectations include serving as a subject matter expert to other teammates and handling highly complex issues that require management and coordination across multiple stakeholders.

The Regulatory Reporting Operations Senior Professional is part of the Enterprise Position Monitoring and Disclosure team and is responsible for position monitoring and preparation of non-financial regulatory disclosures under the relevant regulatory reporting laws across multiple regimes (substantial shareholdings, takeovers, short positions, beneficial ownership notices and industry limits) for the Global Markets and Wealth Management business divisions. They are responsible for the analysis and resolution of highly complex operations problems and initiatives requiring exceptional handling and/or coordination of multiple operational and/or product specialists to resolve. They may be required to contribute to various projects and/or the introduction of new initiatives, systems, products/services and processes and coordinate necessary expertise across multiple operations functions and/or products.
Responsibilities:
· Delivers highly complex regulatory reports to regulatory agencies in line with expectations on completeness, accuracy, quality, and timeliness
· Defines and executes control practices, including compliance with all regulatory and policy requirements, including data quality standards
· Ensures that key risks, performance indicators, and desktop procedures are fully documented, in line with enterprise standards, reviewed on a regular basis and challenged and escalated where necessary
· Responds to inquiries from regulatory agencies and internal control partners (e.g., Audit and Compliance), and provides reporting, as needed
· Establishes credible, collaborative and influential relationships with key senior stakeholders, including FLU and Front Office partners
· Identifies, tracks, and remediates errors, breaches, data issues and control enhancements that impact the respective reports
· Coordinates the partnership with upstream process owners and data providers to improve data quality of regulatory reports, and with Non Financial Regulatory Reporting Interpretation and Technology teams to review and maintain data dictionaries for completeness of business requirements and ensure completeness of all operational and reporting requirements

Responsibilities:

• Delivers highly complex regulatory reports to regulatory agencies in line with expectations on completeness, accuracy, quality, and timeliness
• Defines and executes control practices, including compliance with all regulatory and policy requirements, including data quality standards
• Ensures that key risks, performance indicators, and desktop procedures are fully documented, in line with enterprise standards, reviewed on a regular basis and challenged and escalated where necessary
• Responds to inquiries from regulatory agencies and internal control partners (e.g., Audit and Compliance), and provides reporting, as needed
• Establishes credible, collaborative and influential relationships with key senior stakeholders, including FLU and Front Office partners
• Identifies, tracks, and remediates errors, breaches, data issues and control enhancements that impact the respective reports
• Coordinates the partnership with upstream process owners and data providers to improve data quality of regulatory reports, and with Non Financial Regulatory Reporting Interpretation and Technology teams to review and maintain data dictionaries for completeness of business requirements and ensure completeness of all operational and reporting requirements

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.

• Opportunity & Inclusion Champion: Creates an inclusive team where members are treated fairly and respectfully.
• Manager of Process & Data: Demonstrates and expects process knowledge, data driven decisions, simplicity and continuous improvement.
• Enterprise Advocate & Communicator: Delivers clear and concise messages that motivate, convey the “why” and connects contributions to business results.
• Risk Manager: Leads and encourages the identification, escalation and resolution of potential risks.
• People Manager & Coach: Knows and develops team members through coaching and feedback.
• Financial Steward: Manages expenses and demonstrates an owner’s mindset.
• Enterprise Talent Leader: Recruits, on-boards and develops talent, and supports talent mobility for career growth.
• Driver of Business Outcomes: Delivers results through effective team management, structure, and routines.

Skills:

• Analytical Thinking
• Data Quality Management
• Innovative Thinking
• Problem Solving
• Reporting
• Attention to Detail
• Critical Thinking
• Planning
• Risk Management
• Data Mining

Required Skills:

• Experience in Equity Aggregation monitoring and disclosures (also known as Position Reporting, Shareholding Disclosures, Disclosure of Interest)
• Strong knowledge of financial markets, banking industry, equities and derivative products.
• High level understanding of global markets and wealth management business divisions.
• Strong technical and data analytical skills (i.e., Excel, and other similar applications) with experience in analyzing, managing and reporting from large sets of structured data (e.g., books and records data).
• Able to produce accurate work output and reports under tight deadlines
• Communicates effectively in both oral and written formats and tailors message appropriately to audience
• Demonstrated intellectual curiosity and operational excellence experience
• Able to think critically to quickly analyze and resolve issues
• Influences and delivers results through collaborative relationship with key partners and stakeholders
• Works independently to prioritize work and deliver against regulatory deadlines and a dynamic environment • Able to demonstrate a high level of integrity with a mature approach to work • Discrete when handling confidential information

Desired Skills:

• Experience interacting with regulatory agencies and /or reg exams.
• Experience in technology implementation projects including involvement in building new or enhancing existing systems to meet complex reporting requirements.