Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. We are committed to attracting and retaining top talent across the globe to ensure our continued success. Along with taking care of our customers, we want to be the best place for people to work and aim at creating a work environment where all employees have the opportunity to achieve their goals.
We are a part of the Global Business Services which delivers technology and operations capabilities to all Bank of America lines of business (LOB) and enterprise functions.
Our employees help our customers and clients at every stage of their financial lives, helping them connect to what matters most. This purpose defines and unites us. Every day, we are focused on delivering value, convenience, expertise and innovation for individuals, businesses and institutional investors we serve worldwide.
- BA Continuum is a non-bank subsidiary of Bank of America, part of Global Business Services in the bank.
NFRR IQA Team is responsible for performing Control testing on GBAM Non Financial Regulatory reports, documenting the control tests performed and summarizing the results for future Audit/Compliance purposes.
We are looking for an experienced associate to support the expansion of the iQA function. The role has a global reach with many of the deliverables requiring global collaboration across multiple lines of business and asset classes. The purpose of the team is to drive delivery of a variety of projects (and issues) some of which we are owners, while others require relationship building, influencing skills and the ability to maintain an independent perspective.
The role involves performing independent quality checks on the Non-Financial Regulatory reports, listed in GBAM inventory, to assess the Completeness, Accuracy and Timeliness (CAT)) of the reports, to avoid the risk of potential reporting errors which could result in regulatory fines and reputational risk. There are 1400+ reports in the GBAM inventory and regional governance routines need to be evaluated to ensure efficient monitoring of relevant non-financial regulatory reports.
Design/build Quality Assurance function for testing the Completeness, Accuracy and Timeliness of the NFRR reports in scope
Perform independent testing of NFRR reports to assess the Completeness, Accuracy and Timeliness
Perform governance routines to support the NFRR inventory
Understand the front to back flow of key processes and determine key areas requiring testing
Remain current on the Regulatory Reporting landscape to ensure the firm’s reporting remains in sync with changes in regulatory environment
Ensure documentation is being maintained in accordance with the processes and standards set out
Assess the overall design and operational effectiveness of the existing QA process
Take ownership for managing risk well and be proactive in identifying and controlling risks, issues and concern. Track and highlight issues, gaps, concerns and process failures for remediation
Work closely with LOB partners to understand processes and risks
Interactions with various stakeholders, including senior management
Escalate issues in a timely manner
Produce PowerPoint presentations
6 to 9 years of overall experience with at least 12 months of Regulatory Reporting experience
Excellent analytical and problem solving skills, ability to demonstrate decisiveness and sound sense of judgment, knowing when to escalate
Excellent verbal and written communication skills.
Knowledge of various regulation like EMIR. MiFID, Dodd Frank, CFTC, FINRA etc.
Attention to detail, delivering high quality output
Prior Investment Banking experience in Regulatory Reporting process or Operations Risk & Control
Knowledge of VB script and building macros would be an added advantage
Global Markets Product Knowledge would be an added advantage
Flexible shifts and weekend off
APAC – 6.30 to 15.30 or EMEA – 12.30 to 21.30