Global Regulatory Reporting Observation Management Lead

Bank of America•Charlotte, NC

11d•Onsite

About The Position

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 an 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. Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations. At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us! Job Description: This job is responsible for leading and executing on internal control discipline and operational excellence within a Line of Business (LOB) or Enterprise Control Function (ECF). Key responsibilities include executing LOB or ECF processes and tools to drive adherence to enterprise-wide standards. Job expectations include supporting the implementation of quality assurance and quality control processes within the LOB or ECF through ongoing monitoring and testing of controls, identifying issues and control improvements for remediation, and building out actions plans and milestones. Line of Business 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. The primary responsibility for this role is to manage the day-to-day operations of the US-based observation management team. Observation management includes root cause analysis, thematic review of findings, and partnership with key stakeholders to design and deliver on remediation solution. This role reports to the Conformance Program and Observation Management Executive.

Requirements

10 years+ experience in regulatory reporting and an understanding of our regulatory environment
Bachelor’s degree in related field
Proven leadership experience of managing a team
Strong 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
Demonstrated ability to interact with 2nd and 3rd lines of defense in a constructive manner
Proven ability to work in a collaborative environment to achieve stated objectives
Skills: Controls Management
Skills: Oral Communications
Skills: Risk Management
Skills: Stakeholder Management
Skills: Strategy Planning and Development
Skills: Continuous Improvement
Skills: Drives Engagement
Skills: Influence
Skills: Strategic Thinking
Skills: Talent Development
Skills: Data and Trend Analysis
Skills: Decision Making
Skills: Monitoring, Surveillance, and Testing
Skills: Problem Solving
Skills: Quality Assurance

Nice To Haves

Prior audit, testing or issue management experience
Experience in providing thought leadership and ability to lead without direct authority

Responsibilities

Leads the assessment of the design and effectiveness of the risk and control environment to support Client Operational Services and ensure adherence to enterprise-wide standards
Performs monitoring and testing of controls, identifying issues and control improvements for remediation
Leads the implementation of optimized controls and enhanced Quality Assurance (QA) practices to support business continuity efforts
Manages the performance and productivity of team members that conduct quality inspection reviews
Ensures timely execution of QA activities including control execution, case management, and results reporting
Manages and reviews all operations front line unit responses for regulatory exams, internal audits, and other monitoring and inspection reviews
Ensures accuracy of data and that relevant information is captured for inspection metrics to support governance for dashboard reporting
Manage the day-to-day operations of the US-based observation management team. When issues are identified in our production processes, this team will conduct observation management, including: root cause analysis, thematic review of findings (in partnership with the Charlotte-based observation management team), and partnership with key stakeholders to design and deliver on remediation solution.
Partner with the Governance & Control team to ensure observations are properly reported in appropriate governance routines
Assist the Conformance Program and Observation Management Executive in develop a sustainable operating model for conformance and observation management which, over time, is not dependent on third-party vendor resources
Identify and work with key stakeholders to review and validate observations
Continuously apply lessons learned to improve effectiveness and efficiency of our observation management approach
Recruit, train and retain resources with adequate skills for observation management and remediation
Significant partnership with many global stakeholders, including GRR executives, GRR process owners, Global Compliance & Operational Risk, Corporate Audit, CFO Data Management, and CFO Change