Job Description:
Job Title: Regulatory Reporting Controller II
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.
Location Overview:
Our London office is based just a stone’s throw from the magnificent St. Paul’s Cathedral on bustling King Edward Street. Here you’ll find modern workspaces and a state-of-the-art auditorium space. In addition, we’re proud to host an onsite restaurant that shares our commitment to sustainability. Make sure to take time for yourself and head up to our rooftop terrace and take in the spectacular views across London.
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:
* FRTB - Involved in implementation of FRTB rule changes/updates for capital requirements and external reporting scheduled for 2026, including model and system testing and development of the reporting capabilities
* Preparing and reviewing the UK and EU capital calculations and reporting of 3 prudentially regulated entities, including all standardised and internal model RWA calculations and reporting across UK, France and Ireland
* Daily capital calculations/analysis - Review daily RWA calculations to be incorporated in the daily capital adequacy status sent out to senior managers
* Business Partnering – Collaborate with Front Office, market risk, model developers and other groups on capital management and RWA efficiencies
* Stakeholder interaction - Deal with ad-hoc requests from external regulators and internal stakeholders such as Risk, Internal Audit and Compliance
* Issue management – Lead the team in identifying and remediating process issues impacting the Capital Reporting process
* System development (BAU) – Initiation of technology change to support changing rules and improve efficiency and controls
* System development (Strategic) – As a user help to define data/calculation/reporting requirements for an in-flight infrastructure project
* Helping to oversee the UK and EU capital calculations and reporting of 3 prudentially regulated entities
* External Regulatory Reporting and Disclosures – Produce the quarterly COREP and other disclosures including manual adjustments, reconciliations, and variance analysis for UK and EU entities
What we are looking for:
* Qualified Accountant, CFA or equivalent or a relevant degree or experience
* Experience in a prudential regulatory reporting function in an international financial institution
* Knowledge of the EU and UK regulatory framework, specifically on elements of FRTB market risk and/or CVA
* Experience in CoRep and Pillar 3 disclosures
* Understanding of basic Market risk management concepts
* Good product knowledge including payoff types and product features
* Basic understanding of market conventions and impact of reference data on calculations
* Basic understanding of pricing models and impact on the calculation of FRTB/CVA inputs
* Ability to understand implications of regulatory requirements on technical implementation of the calculations
* Ability to perform risk drivers’ analysis and provide commentary on variance in capital requirements
* Ability to communicate clearly on technical topics with risk management and front office
* Control focused mentality
* Highly proficient in Excel, including the ability to work with large datasets
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 and adult care per annum
* Ability to change your core benefits and select a variety of flexible benefits
* Access to an emotional wellbeing helpline and Employee Assistance Program
* 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 understand the expected standards of conduct and how we manage conduct risk. Individual accountability and an ownership mind-set are the cornerstones of our Code 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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