Job Description:

About Us

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!

Global Business Services

Global Business Services (GBS) delivers Technology and Operations capabilities to Lines of Business and Staff Support Functions of Bank of America through a centrally managed, globally integrated delivery model and globally resilient operations.

Global Business Services is recognized for flawless execution, sound risk management, operational resiliency, operational excellence and innovation.

In India, we are present in five locations and operate as BA Continuum India Private Limited (BACI), a non-banking subsidiary of Bank of America Corporation and the operating company for India operations of Global Business Services.

Process Overview*

Global Finance was set up in 2007 as a part of the CFO Global Delivery strategy to provide offshore delivery to Line of Business and Enterprise Finance functions. The capabilities hosted include Accounts Payable, General Accounting & Reconciliations, Treasury Management Support on Capital, Liquidity and Balance Sheet Management, Management Reporting & Analysis, Research & Analytics, Financial Transaction Processing, Finance Systems Support & Regulatory reporting. Over the years, the scope of Global Finance has been expanded to include operations for other enterprise control functions like Human Resources and Risk and Compliance.

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 including call reports, cross-Border BEA and state fillings, FINREP, COREP, AnaCredit & Statistical reporting.

Job Description*

This job is responsible for assisting in providing risk oversight and advice to the Line of Business (LOB) on risk management issues. Key responsibilities include monitoring and adhering to risk management policies, limits, standards, controls, metrics and thresholds within the defined corporate standards, assisting in conducting execution of risk framework activities including independent monitoring and testing of controls and risk management processes for the LOB.

Primary responsibility for this role is to execute the Quality Assurance (QA) function for GRR. The teammate in this role will work closely with the QA Team Lead and regulatory reporting Subject Matter Experts (SMEs) to validate the completeness and accuracy of GRR’s high risk reports.

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.

Responsibilities*

• Assists in establishing and overseeing the risk management governance structure for the Line of Business (LOB)
• Assists in conducting execution of risk framework activities including monitoring and testing of controls and risk management processes for the LOB
• Ensures adherence to the policies and procedures established by the company

Requirements*

Education*

Education – Chartered Accountant or post-graduate degree in business

Skills*

• Critical Thinking
• Analytical Thinking
• Risk Assessment
• Oral Communications
• Presentation Skills
• Written Communications
• Decision Making
• Technical Documentation
• Monitoring, Surveillance, and Testing

Experience and Qualification*

• 7+ years of which at least 4 years in relevant roles i.e. Regulatory reporting production, validation and review, legal entity controller, product controller

• Strong background in financial regulatory reporting requirements / technical requirements in the US, the UK and Europe.
• Understanding of financial statements and banking products
• Prior data experience (i.e., analytics, data profiling) preferred
• Expected competencies for success in this role include:
  • Communication – ability to communicate very effectively, including strong written, verbal and summarization skills
  • Partnering – ability to partner collaboratively and constructively, within the GRR team, across the GFC group and more broadly across other departments
  • Controls mindset with ability to perform root cause analysis and design adequate solutions
  • Prior analytical skills (Alteryx, advanced Excel, SQL preferred)
  • Ability to work independently
  • Committed to continuous improvement of processes to maximize effectiveness and improve efficiency
  • Strong organizational skills and attention to detail, and good with numbers

Work Timings*

11:30 am to 8:30 pm

Job Location*

Mumbai