BANK OF AMERICA Hiring Assistant Manager | Pan India | Salary ₹ 9.4 LPA | Apply Online

One of the largest financial organizations in the world, Bank of America offers a broad variety of banking, investing, asset management, and other financial and risk management products and services to individuals, small- and middle-market enterprises, and large corporations. About 56 million American consumers and small businesses are served by the organisation. It ranks among the top wealth management businesses on the planet and leads the world in corporate, investment, and trade banking.

 

 

 

Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. We are committed to attracting and retaining top talent across the globe to ensure our continued success. Along with taking care of our customers, we want to be the best place for people to work and aim at creating a work environment where all employees have the opportunity to achieve their goals. We are a part of the Global Business Services which delivers technology and operations capabilities to Bank of America lines of business (LOB) and enterprise functions. Our employees help our customers and clients at every stage of their financial lives, helping them connect to what matters most. This purpose defines and unites us. Every day, we are focused on delivering value, convenience, expertise and innovation for individuals, businesses and institutional investors we serve worldwide.

* BA Continuum is a nonbank subsidiary of Bank of America, part of Global Business Services in the bank.

 

 

Non-Financial Regulatory Reporting – Report Assessments function has been set-up with the core objective of performing independent post process quality checks on the Non-Financial Regulatory Reports for Global Banking and Markets (GBAM) to assess the Completeness, Accuracy and Timeliness (CAT) of the reports submitted to regulators.

 

 

We are looking for an experienced associate to support the function. The role has a global reach with many of the deliverables requiring global collaboration across multiple lines of business and asset classes. The purpose of the team is to drive delivery of a variety of projects (and issues) some of which we are owners, while others require relationship building, influencing skills and the ability to maintain an independent perspective. The role involves performing independent quality checks on the 1500+ Non-Financial Regulatory reports, listed in GBAM inventory, to assess the Completeness, Accuracy and Timeliness (CAT)) of the reports, to avoid the risk of potential reporting errors which could result in regulatory fines and reputational risk.

 

• Design/build Quality Assurance function for testing the Completeness, Accuracy and Timeliness of the NFRR reports in scope
• Perform independent testing of NFRR reports to assess the Completeness, Accuracy and Timeliness
• Perform governance routines to support the NFRR inventory
• Understand the front to back flow of key processes and determine key areas requiring testing
• Remain current on the Regulatory Reporting landscape to ensure the firm’s reporting remains in sync with changes in regulatory environment
• Ensure documentation is being maintained in accordance with the processes and standards set out
• Assess the overall design and operational effectiveness of the existing QA process
• Take ownership for managing risk well and be proactive in identifying and controlling risks, issues and concern. Track and highlight issues, gaps, concerns and process failures for remediation
• Work closely with LOB partners to understand processes and risks
• Interactions with various stakeholders, including senior management
• Escalate issues in a timely manner
• Drive Operational Excellence by consistently striving to achieve responsible growth
• Execute all the process related admin tasks

Qualification: MBA

 

Certifications if any: NA

Experience Range: 6 to 9 years of overall experience with at least 12 months of Regulatory Reporting experience

• Experience in Global Markets/ Global Banking
• Knowledge of Trade/ Product Life Cycle
• Exposure to Quality Control/ Regulatory Reporting

• Strong understanding of the regulatory trade and transaction reporting landscape (especially APAC/ UK / EU / US regulations)
• Good understating of various regulations like EMIR. MiFID, Dodd Frank, CFTC, FINRA etc.
• Global Markets Product Knowledge

• Experience of working in Banking MO, Operations or other relevant functions
• Experience in regulatory reporting processes, ideally involving testing or quality assurance of regulatory reports
• Product specific knowledge of transaction and other reporting operations

• Experience in analyzing and documenting business processes and develop solutions
• Experience in carrying out thematic deep dives
• Excellent analytical and problem-solving skills, ability to demonstrate decisiveness and sound sense of judgment, knowing when to escalate
• A self-motivated, structured and logical thinker
• Excellent verbal and written communication skills.
• Attention to detail, delivering high quality output

• Ability to work well with and communicate with others, from teammates to executives
• Should be a team player with strong execution focus
• Adapts to changes and has a proven track record of working as part of a global team
• Proficient in MS Office application like word, Excel and PowerPoint

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