Bank of America hiring Quality Assurance Lead for Global Regulatory Reporting - US in Charlotte, North Carolina, United States | LinkedIn (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:Responsible for providing risk oversight and advice and counsel to the LOB. Establish risk management policies, limits, standards, controls, metrics and thresholds within the defined corporate standards. Ability to recognize all risk categories including credit, market, operational and compliance and bringing appropriate risk expertise as needed. Accountable for conducting execution of risk framework activities including, but not limited to, independent monitoring and testing of controls and risk management processes for the LOB. Establish and oversee the risk management governance structure for the LOB.

This role aligns to the Global Regulatory Reporting (GRR) Team within the CFO Global Financial Control (GFC) department. GRR’s purpose is to drive high quality regulatory reports through operationally efficient processes to support the production of various regulatory reports as required by Regulatory authorities.

Primary responsibility for this role is to lead the Quality Assurance (QA) function for GRR-US. The teammate in this role will work closely with the regulatory reporting Subject Matter Experts (SMEs) within the US team to validate the completeness and accuracy of GRR’s high-risk regulatory reports (FFIEC 031, FR Y9C, FR Y-15, FR Y-14Q, etc.)

The role will have responsibility for reviewing GRR’s end to end processes to ensure that: the data inputs into the related reporting are complete and accurate; GRR’s processes, including regulatory aggregation and reporting logic, are being performed as intended and produce expected outcomes; and GRR’s controls are being executed correctly and working effectively.

The QA team will rotate through GRR’s submissions and will be expected to identify, define, and implement Operational Excellence opportunities. In addition, the role will require reviewing, leveraging, and supporting updates to: Business Requirement Documents, Data Dictionary documentation and Desktop Top Procedures.

The Team:

• The GRR- US team is made up of approximately 130 individuals based across Charlotte and India
• The team prepares and submits regulatory reports for consolidated and material entity reports in the US.
• Interaction will be across the CFO group, as well as Front Office, Risk partners and Technology

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.

• Diversity & Inclusion Champion: Models an inclusive environment for employees and clients, aligned to company D&I goals.
• Manager of Process & Data: Demonstrates deep process knowledge, operational excellence and innovation through a focus on simplicity, data based decision making and continuous improvement.
• Enterprise Advocate & Communicator: Communicates enterprise decisions, purpose, and results, and connects to team strategy, priorities and contributions.
• Risk Manager: Ensures proper risk discipline, controls and culture are in place to identify, escalate and debate issues.
• People Manager & Coach: Provides inspection, coaching and feedback to motivate, differentiate and improve performance.
• Financial Steward: Actively manages expenses and budgets in alignment with objectives, making sound financial decisions.
• Enterprise Talent Leader: Assesses talent and builds bench strength for roles across the organization.
• Driver of Business Outcomes: Delivers results by effectively prioritizing, inspecting and appropriately delegating team work.

Skills:

• Analytical Thinking
• Coaching
• Critical Thinking
• Liquidity Management
• Collaboration
• Oral Communications
• Portfolio Analysis
• Presentation Skills
• Written Communications
• Credit and Risk Assessment

Required Qualifications:

• Minimum 10+ years of regulatory reporting, Audit, Risk, Data or other relevant financial services or banking industry experience
• Understanding of financial statements and banking products
• Familiarity with US regulatory reporting requirements / technical requirements is preferred.
• Prior data experience (i.e., analytics, data profiling) preferred
• Ability to work with and across teams in multiple locations
• Confident organizational, motivational leadership and negotiating skills with extensive experience in setting and executing strategy
• Strong critical thinking, problem solving, analytical mindset
• Ability to communicate very effectively, including strong written, verbal and summarization skills
• Expected competencies for success in this role include:
• People Leadership – ability to lead through influence, motivate and empower others, indirectly managing/leading and multi-tasking across multiple teams and locations
• Partnering – ability to partner collaboratively and constructively, within the ERR team, across the GFC group and more broadly across other departments
• Strong presentation skills

Shift:1st shift (United States of America)

Hours Per Week: 40