Regulatory Reporting Operations Professional

Bank of America • Charlotte, NC

12d • 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 providing analysis for one or more operations product areas in the delivery of moderately complex regulatory reporting and/or regulatory processing. Key responsibilities include analyzing and resolving highly complex operations problems, projects and initiatives, and contributing to the resolution of highly complex problems. Job expectations include coordinating across multiple operations functions and products with the introduction of new initiatives, systems, products, services, and processes. We are seeking a detail-oriented and proactive Non-Financial Regulatory Reporting Analyst to join our team who will be responsible for the preparation and submission of reporting obligations to the necessary regulatory body. The America’s Global Markets team is responsible for the delivery of high risk reporting obligations in the markets space including Large Option Position reporting, Short Interest Reporting, Large Commodity Position Reporting (Part 20), Electronic Bluesheets, while also looking to centralize other reporting obligations. A successful candidate will demonstrate the ability to go beyond the information presented by identify reporting risks and opportunities for improvement. Ensure delivery of complete, accurate and timely regulatory reports to regulatory agencies. Executes control practices, including compliance with all regulatory/policy requirements and data quality standards Document key risks, performance indicators, desktop procedures including controls and metrics related to reporting. Execute QA/QC and report production tasks for regulatory reports. Respond to regulatory agencies and internal control partners on inquiries and reporting breaches Participate and represent the reporting function to control partners (e.g., Audit and Compliance) Identify, track, and remediate errors/breaches, data issues and control enhancements that impact the respective reports Partner with upstream process owners and data providers to improve data quality of regulatory reports Partner with NFRR Regulatory Interpretation and Technology teams to review and maintain data dictionaries for completeness of business requirements and ensure completeness of all operational and reporting requirements. Assist with NFRR report centralization which includes performing current state assessments, understanding the effectiveness of controls, determining process risks, and executing plans to incorporate the reporting process into the NTCO organization; Ensure smooth transition and cut over of NFRR reports in target state including appropriate hand over and staff transfer. Partner with technology team and business analysts in providing requirements and user acceptance testing (UAT).

Requirements

• Bachelor’s degree in Finance, Accounting, Economics, or related field (Master’s or professional certification such as CPA or CFA are a plus)
• 2+ years of experience in regulatory reporting, financial reporting or compliance within the banking or financial services industry
• Experience working with Market products at a bank including equity Securities, OTC, Swaps, Options, Repurchase Agreement, and Commodities products
• Strong Technical Skills with the ability to query data from multiple data bases
• Strong technical and data analytical skills (i.e., Excel, and other similar applications) with experience in analyzing, managing and reporting from large sets of structured data (e.g., books and records data).
• Communicates effectively in both oral and written formats and tailors message appropriately to audience
• Demonstrated intellectual curiosity and operational excellence experience
• Able to think critically to quickly analyze and resolve issues
• Influences and delivers results through collaborative relationship with key partners and stakeholders
• Works independently to prioritize work and deliver against regulatory deadlines and a dynamic environment

Nice To Haves

• Audit experience
• Experience interacting with regulatory agencies and /or reg exams.
• Regulatory reporting experience and/or experience in a global markets regulatory reporting environment or exposure to position/transaction processes/life cycle
• Regulatory reporting experience and/or experience in global banking regulatory reporting environment or exposure to deposit/ liability balance reports, payment transactions and anti-money laundering
• Experience in technology implementation projects including involvement in building new systems to meet complex reporting requirements
• Professional Qualifications (Accountancy Qualifications)

Responsibilities

• Delivers moderately complex regulatory reports to regulatory agencies in line with expectations on completeness, accuracy, and timeliness
• Executes control practices, including compliance with all regulatory and policy requirements, including data quality standards
• Documents key risks, performance indicators, desktop procedures, controls and metrics related to reporting, and executes quality assurance, quality control, and report production tasks for regulatory reports
• Supports the response to regulatory agencies and internal control partners on inquiries and reporting breaches
• Participates in the representation of the reporting function to control partners (e.g., Audit and Compliance)
• Identifies, tracks, and remediates errors, breaches, data issues, and control enhancements that impact reports
• Contributes to the partnerships with key stakeholders, including upstream process owners, data providers, and Non-Financial Regulatory Reporting Interpretation and Technology teams

Benefits

• This role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.
• This role is currently benefits eligible.
• We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Number of Employees: 5,001-10,000 employees