What are the responsibilities and job description for the Global Regulatory Reporting Observation Management Sr. Specialist position at Bank of America?
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 a diverse and 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.
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. A third-party vendor will perform conformance and transaction testing on GRR high-risk reports. The primary responsibility of this role is to perform observation management which includes root cause analysis, thematic review of findings, and partnership with key stakeholders to design and deliver on remediation solution.
Responsibilities:
- When the third-party vendor identifies issues, this individual will conduct observation management, including: root cause analysis, thematic review of findings, partnership with key stakeholders to design and deliver on remediation solution.
- Assist in the coordination of conformance and transaction testing performed by third-party vendor
- 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
- 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 adequate 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:
1st shift (United States of America)Hours Per Week:
40
