hero

Workforce Innovation Center Career Board

Leverage our network to build your career. Find companies that you will love to work for that have the benefits and perks you need.

Explore the careers Cincinnati USA Regional Chamber Members have to offer.
89
companies
9,580
Jobs

Financial Regulatory Reporting Specialist (Banking Products) - Lead

Bank of America

Bank of America

Accounting & Finance, Legal
Posted on Wednesday, July 3, 2024

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:

This job is responsible for the execution of data architectural solutions for complex initiatives that span multiple Lines of Business and control functions. Key responsibilities include facilitating solution driven discussions, working with stakeholders to support adherence to the enterprise data management policy and standards, and supporting architecture design reviews to ensure integration of data architecture principles in technology solutions. Job expectations include educating data management teams on enterprise data architectural principles and data management processes and routines.

Team Overview

Global Risk Analytics (GRA) and Enterprise Independent Testing (EIT) are sub-lines of business within Global Risk Management (GRM). Collectively, they are responsible for developing a consistent and coherent set of models, analytical tools, and tests for effective risk and capital measurement, management and reporting across Bank of America. GRA and EIT partner with the Lines of Business and Enterprise functions to ensure the capabilities they build address both internal and regulatory requirements, and are responsive to the changing nature of portfolios, economic conditions, and emerging risks. In executing their activities, GRA and EIT drive innovation, process improvement and automation.

Candidate will be a lead in the Enterprise Independent Testing organization responsible for driving data quality assessment of high priority regulatory reports. The individual should have deep understanding of banking products (e.g Loans and Leases, Deposits, Derivatives, securities etc.) and experience with filing regulatory reports (e.g 14 Q/M, FFIEC 031, FRY-9 etc). The individual will be collaboratively working with a team of 5 or more onshore/offshore resources as part of pre-submission testing. The Testing lead, in collaboration with Testing Shared Services ensures accountability for the completion of testing activities in a timely manner and in alignment with the Independent Testing- Enterprise Policy & Standard. The role will be dynamic in nature and require the individual to be able to handle diverse work efforts. This role contributes to the identification of themes and trends at the front line unit, control function and enterprise level. Role is expected to evolve as organization matures and this resource is expected to drive that evolution.

Responsibilities:

  • Design and manage testing based on Enterprise needs for pre-submission testing of 14 Q/M, FFIEC 031, etc. regulatory reports
  • Experience in the financial services working with large banking clients extensively on engagements involving regulatory reporting system testing and implementation, regulatory data quality, report assurance.
  • Thorough understanding of Regulatory Capital Framework, BASEL III standardized and advanced approaches, Country Risk Reporting, Liquidity Reporting, RWA Calculations and Interpretations
  • In Depth familiarity with either or consumer and Commercial credit products preferably with a Tier 1 bank in North America
  • Involved in regulatory reporting system testing and implementation, regulatory data quality, report assurance
  • Evolve testing methods and processes in support of Op Ex including increasing efficiency and coverage while reducing stakeholder impacts
  • Manage ad hoc efforts (projects, etc) and SIAI/audit issues from initiation through completion
  • Manage and develop a robust and nimble team and drive the transformation of skillsets to support new testing approaches
  • Accountable for quality testing execution, reporting and analysis of results
  • Manage the relationship with external consultants, front line unit (FLU) /Control Function (CF) Compliance and Operational Risk groups
  • Participates in routines involving senior leaders across Enterprise Independent Testing (EIT), Enterprise Data Strategy, Global Compliance and Operational Risk (GCOR), Global Risk Management, CFO Group, Technology & Operations to share testing progress, results and assist with strategic planning efforts
  • Participates in routines involving FLU/CF, Compliance and regulatory agencies and interact with senior auditors both verbally and in writing


Skills:

  • Architecture
  • Business Analytics
  • Critical Thinking
  • Data Management
  • Data Visualization
  • Consulting
  • Data Modeling
  • Process Design
  • Regulatory Compliance
  • Risk Management
  • Cloud Solutions
  • Collaboration
  • Data Governance
  • Talent Development
  • Technical Strategy Development

Required Skills:

  • 7+ years of experience in Regulatory & Legal Support on risk data and regulatory matters; covering assessment, design, and implementation of regulatory report production processes
  • Performed various assurance activities to identify and analyze the gaps in the reporting, e.g., FR Y 9C, FR Y-15, FFIEC 031, FFIEC 009, FR 2052a and FR Y 14Q.
  • Test management (focus on sampling, test objectives/ conclusions, test results interpretation, etc.) experience
  • The assurance activities involves Conformance Testing and Transaction Testing.
  • Quality assurance activities involving the testing of end-to-end data flow, transformations and logic implemented in different reporting tools such as AXIOM and OFSAA.
  • Strong oral & written communication skills and comfortable presenting to a wide variety of audiences
  • Comfortable leading and influencing with and without direct authority
  • Resourceful/ proactive in situations when not all information is available or there is no apparent “right” answer
  • Strong focus on Risk Management
  • Capable to navigate conflict to enable productive solutions
  • Close attention to detail

Desired Experience:

  • Bank Domain Knowledge
  • Strong analytical skills including excel skills (vlookup, pivot and other excel analytics features)
  • Experience as part of an Audit organization or a deep history of interactions with Audit (Internal and External)
  • Strong Project Planning/Management
  • Basic knowledge of Tableau and/or other reporting tools
  • Process development
  • Familiarity Policy/Governance and Data Related Laws, Rules, Regulations

Shift:

1st shift (United States of America)

Hours Per Week:

40