Managing Director, Regulatory Reporting

Truist • Charlotte, NC

23h

About The Position

Responsible for leading a robust and sustainable Regulatory Reporting Governance program across the Finance organization. Design, implement and execute governance programs and frameworks that guide, monitor and evaluate the design and effectiveness of internal controls over financial reporting, while ensuring compliance with risk and regulatory expectations. Effectively manage overall operational and compliance risk related to Regulatory Reporting. Support the reporting production teams in the accurate and timely preparation, review, production and distribution of external corporate and bank regulatory reports and data submissions, including reports distributed to or filed with the Federal Deposit Insurance Corporation (FDIC) and Federal Reserve Board (FRB). This position is an integral business partner with numerous first, second and third line of defense stakeholders to influence and drive adoption of related Regulatory Reporting strategies, policies, standards and control frameworks. The role evaluates established and emerging Regulatory Reporting practices and technologies to drive the team's direction, while implementing innovative processes and solutions to provide a competitive advantage while meeting rigorous control and oversight mandates.

Requirements

• Bachelor's degree in Accounting, Finance, Business Administration or equivalent education and related training
• Certified Public Accountant (CPA) designation; strong technical accounting knowledge
• Fifteen years of relevant accounting or accounting policy experience with knowledge of GAAP, Liquidity and BASEL reporting; twelve years of leadership and supervisory experience
• Intelligent, strong and decisive leadership within an organization as a result of high integrity, intellectual clarity, and a passion for excellence; strong leadership abilities including proactive thinking and teamwork to drive the best business decisions
• Strong personal and professional ethics with impeccable integrity
• High energy level and strong work ethic to meet the demands of a fast paced, goal driven environment; results orientation, which includes meeting commitments, performance metrics, and targeted and required delivery dates
• Self-motivated with the ability to work without supervision; ability to work under difficult time constraints and manage multiple resources, priorities and projects
• Strong team orientation; eagerness to pitch in and help larger teams meet goals and responsibilities
• Excellent technical and research skills; excellent communication and presentation skills; excellent critical and conceptual thinking, problem solving ability and analytical skills; excellent interpersonal skills across internal and external organizational levels
• Demonstrated proficiency in computer applications, such as Microsoft Office software products, with an emphasis on spreadsheet, word processing and database software

Nice To Haves

• Masters or advanced degree in Business or Accountancy
• Prior experience working for a large, SEC-registered financial institution or senior manager-level public accountant with extensive bank experience
• Prior experience as an examiner of financial reports for the Office of the Comptroller of the Currency (OCC), FRB or FDIC

Responsibilities

• Lead and manage a team charged with ensuring appropriate governance over regulatory reporting processes. Effectively collaborate, communicate, and provide expert advice on a broad range of highly complex regulatory reporting issues to various constituencies on a concurrent basis, including Executive Leadership, other members of the Senior Leadership Team, external auditors, and regulatory agencies. Provide expert counsel and advice on regulatory reporting matters to various standing committees and project teams. Prepare communications for Executive Leadership and external regulators, as applicable, related to matters concerning regulatory reporting. Provide oversight in the development of implementation strategies for complex and ever-changing regulatory reporting requirements.
• Provide vision and leadership on governance strategies, improvements, and upgrades. Develop strategies to improve the efficiency and effectiveness of governance frameworks and ensure the appropriate level of embedded enforcement and accountability provisions. Lead the adaptation of complex high risk work programs and practice aids, establish methodologies, and set direction for policies and procedures.
• Provide team leadership and vision and is responsible for long-term planning and performance of the team. Develop plans that impact the direction and resource allocation of the group, including business, project and/or organizational priorities. Proactively identify and resolve technical, operational, risk management, business, and organizational challenges, and establish long-term solutions for continuous improvement.
• Provide subject matter expertise in the planning and execution of governance activities such as data management, issues management, change management, internal controls, risk assessment and prioritization, training, reporting and escalation.
• Oversee the design and implementation of process changes and internal controls for new regulatory reporting requirements and monitor existing guidelines for regulatory reports to ensure that Truist remains in compliance with federal, FDIC and state reporting requirements.
• Coordinate efforts to respond to supervisory examination letters by working with appropriate Truist teammates to collect relevant background information, draft comment responses and incorporate feedback into the final version of management responses submitted to the banking regulators.
• Provide leadership and direction on future strategies for enterprise data needed for regulatory reporting. Develop strong processes that ensure a high level of data integrity and internal controls. Identify key risks and controls along data supply chain, assess data lineage, identify critical data elements, recommend improved controls, perform controls readiness projects and identify, and assess configuration of controls in regulatory reporting to ensure compliance with risk and regulatory expectations. Identify data issues and work with technology, risk, and business partners to triage, track, communicate, mitigate, and remediate the issues to closure. Champion and drive improvement in enterprise data management practices throughout the regulatory reporting framework.
• Develop and maintain a robust and sustainable regulatory reporting training program. Ensure the appropriate level of regulatory reporting training is deployed to teammates throughout the entire spectrum of the regulatory reporting framework, including data providers, data stewards, support roles and report production teams. Develop reporting and escalation protocols to ensure teammates understand and comply with policies and standards regarding regulatory reporting training.
• Lead discussions with the regulatory staff of the FRB and FDIC, as applicable, on matters impacting Truist’s regulatory reports.
• Ensure the design and implementation of adequate processes and controls to comply with relevant GAAP and to prevent significant deficiencies and material weaknesses in internal control over financial reporting. When relevant control deficiencies are identified, play a leading role in navigating the organization to investigate and resolve the deficiencies. Support ERM and the Risk Management Organization through the effective identification, measurement, and mitigation of GAAP risk. Communicate GAAP risks in a timely manner. Adhere to risk policies, procedures, and regulatory requirements. Support business and corporate risk management objectives. Develop, maintain, and ensure compliance with appropriate policies, accounting standards, and procedural documentation to effectively manage the risk of GAAP non-compliance. Ensure the continual effectiveness of any systems implemented and utilized in the management of GAAP risk.
• Provide assistance to the reporting production teams for the implementation of new regulatory reporting requirements, which includes development of applicable policies and standards, design of operational processes necessary to ensure full compliance with any new requirements, and the development of the related internal control framework related to these new processes. Ensure appropriate change management processes over regulatory reporting changes.
• Provide leadership, talent development, mentoring and training for the Regulatory Reporting Governance teammates to improve their own governance expertise. Foster a team environment that promotes diversity and inclusion broadly across the organization.
• Represent Truist in various banking organizations via active participation in periodic meetings and committees. Use industry contacts to assess regulatory reporting implementation and governance efforts.

Benefits

• All regular teammates (not temporary or contingent workers) working 20 hours or more per week are eligible for benefits, though eligibility for specific benefits may be determined by the division of Truist offering the position.
• Truist offers medical, dental, vision, life insurance, disability, accidental death and dismemberment, tax-preferred savings accounts, and a 401k plan to teammates.
• Teammates also receive no less than 10 days of vacation (prorated based on date of hire and by full-time or part-time status) during their first year of employment, along with 10 sick days (also prorated), and paid holidays.
• Depending on the position and division, this job may also be eligible for Truist’s defined benefit pension plan, restricted stock units, and/or a deferred compensation plan.

What This Job Offers

• Job Type: Full-time
• Career Level: Executive