Sr Business Control Specialist (Global Reconciliation Governance)

Bank of America•Charlotte, NC

1d•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 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! This job is responsible for driving and executing on internal control discipline and operational excellence within a Line of Business (LOB) or Enterprise Control Function (ECF). Key responsibilities include providing analytical and administrative support for LOB or ECF specific processes and tools to drive adherence to enterprise-wide standards. Job expectations include monitoring and testing controls and implementing quality assurance and quality control processes within the LOB or ECF by evaluating data to help identify, track, and report issues and control improvements for remediation. Global Reconciliation Governance (GRG), a team within the Company's Chief Financial Officer (CFO) Group supports a reconciliation governance model. This model encompasses Enterprise level reconciliation requirements and comprehensive account ownership for GL Accounts and BAs along with ongoing monitoring through management reporting and targeted account reviews. Account reconciliations are an essential component of the overall risk management process at Bank of America. Reconciliations help to ensure the integrity of the Balance Sheet as this information is used to prepare numerous corporate and regulatory reports. Further, accurate and complete information is paramount in complying with various laws, regulations, and principles, such as the Sarbanes-Oxley Act, U.S. Securities and Exchange Commission regulations, U.S. Generally Accepted Accounting Principles, FDIC Improvement Act (FDICIA) and regulatory reporting instructions. Account reconciliations serve as a detective control, with subsequent review and approval serving as verification that the GL Account and BA balances are accurate, complete and reliable.

Requirements

2+ Years of Accounting and Reconciliation experience
Able to work in a fast paced, deadline oriented environment
Strong organization and time management skills
Proficient in the use of Excel, Word and PowerPoint
Excellent written and verbal communication skills are necessary as the position requires global correspondence and communication with associates throughout the Bank.

Nice To Haves

Accounting/Finance degree
Exposure to International Accounting & Reporting Standards (US GAAP’s, FAS, IFRS)
Oracle and SAP experience
Project Management experience
Proficiency in Alteryx and Tableau

Responsibilities

Completing second level reconciliation reviews to evaluate and report control points around the reconciliation process.
Monitoring and review of manual journal entries ensuring segregation of duties and approval flow is followed as per policy requirements.
Identifying the underlying risk in relation to accounting GAAPs, regulatory reporting and SOX requirements.
Partner with key business contacts and stakeholders to understand and address potential compliance issues.
Provide subject matter expertise to reconciliation owners and journal entry preparers / approvers across the enterprise on the interpretation of the policy and provide guidance on the implementation and execution of required standards.
Ensuring that all non-credit reconciliation related charge-offs and recoveries are identified and reported to GRG.
Assist with the identification of appropriate metrics designed to measure the effectiveness of GL Account Reconciliation and Manual Journal Entry (GL AR and MJE) controls.
Contribute to the development of internal guidance for GL AR and MJE policies and standards to ensure consistent and appropriate application across the Enterprise.
Provide audit documentation and manage audit walkthroughs for external and internal audits conducted during the year for Global Reconciliation Governance process.
Manage monthly GRG Dashboard meetings, discuss open items and provide guidance around policy matters to key business contracts and stakeholders.