Job Description:
Job Title: Senior Regulatory Reporting Controller
Location: London
Corporate Title: Vice President
Company Overview:
At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities, and shareholders every day.
One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We’re devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.
Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.
The Team:
Global Regulatory Reporting is part of Global Financial Control and is located in the US, UK, Ireland, France and India. The EMEA team for capital reporting currently consists of over 50 people in Europe and India and we are expanding the team.
Responsibilities:
This is a role in UK Regulatory Reporting team. The role will deepen your knowledge of financial products and provide a great opportunity to build knowledge of prudential regulation. Responsibilities include:
* Helping to oversee the UK and EU capital calculations and reporting of 3 prudentially regulated entities.
* Daily capital calculations/analysis - Review daily RWA calculations to be incorporated in the daily capital adequacy status sent out to senior managers.
* External Regulatory Reporting and Disclosures – Produce the quarterly returns including manual adjustments, reconciliations, period on period variance analysis.
* Rules changes - Involved in implementation of rule changes/updates for capital requirements and external reporting.
* Business Partnering – Working on a constant basis with Front Office and other groups on capital management.
* Issue management – leading the team in identifying and remediating process and other issues impacting the Capital Reporting process.
* Stakeholder interaction - Deal with ad-hoc requests from external regulators and internal stakeholders.
* Process improvement - Participate in assignments to identify and implement improvements to the process and control framework.
* System development (BAU) – Initiation of technology change to support changing rules.
* System development (Strategic) – Help to define data/calculation/reporting requirements for an in-flight infrastructure project.
What we are looking for:
* Qualified Accountant, CFA or equivalent or a relevant degree or experience.
* Proven experience in a prudential regulatory reporting function in an international financial institution.
* Existing knowledge and/or experience in regulatory reporting (CoRep), risk management or financial products.
* Knowledge of CRR rules around Internal Models Method (IMM) and standardised approach for counterparty credit risk (SA-CRR).
* Leadership and influencing skills.
* Proactive, enthusiastic individual with strong interpersonal skills.
* High level of ownership, strong analytical skills and attention to detail.
* Demonstrate ability to work independently and with a team.
* Display a willingness to learn through research and enquiry.
* Keen interest in developing an understanding of the regulatory framework and rules.
Benefits of working at Bank of America:
* Private healthcare for you and your family plus an annual health screen.
* Competitive pension plan, life assurance and group income protection cover.
* 20 days of back-up childcare including access to school holiday clubs.
* The ability to change your core benefits.
* Access to an emotional wellbeing helpline and mental health first aiders.
* Access to an Employee Assistance Program for confidential support.
* Ability to donate to charities of your choice directly through payroll.
* Opportunity to access our Arts & Culture corporate membership program.
* Opportunity to give back to your community through volunteering.
Bank of America:
Good conduct and sound judgment is crucial to our long term success. It’s important that all employees in the organisation understand the expected standards of conduct.
We are an equal opportunities employer and ensure that no applicant is subject to less favourable treatment.
We strive to ensure that our recruitment processes are accessible for all candidates.
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