Head of FRTB Centre of Excellence London, United Kingdom **Job Description:** **Job Title:** Head of FRTB Centre of Excellence **Location:** London **Corporate Title:** Vice President/ Director **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. Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us! **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 by providing delicious seasonal menus which have been created with the planet in mind. Make sure to take time for yourself and head up to our rooftop terrace and take in the spectacular views across London. Finally, your physical wellness is well-catered for with our onsite gym facilities and medical centre. **The Team:** Global Regulatory Reporting is responsible for ensuring efficient and proactive management of economic and regulatory capital, and delivering timely and accurate reporting to regulators across EMEA. The team based in Europe with hubs in London, Dublin and Paris with off shore support from India. The Business Operational Readiness and Operational Excellence team within Global Regulatory Reporting have a remit to look for synergies, improve processes, drive towards global best practice and increase automation across the group in additional to delivering operational readiness for major new regulatory requirements for the firm. The candidate will join the Finance department in London as part of the Business Operational Readiness and Operational Excellence team, working on the FRTB program which is the Market Risk element of BASEL 3 the regulation written in response to the Financial Crisis. This team provides a critical link between the change and IT functions and the business stakeholders to ensure the new regulation being delivered is successfully embedded into the Reporting teams daily activities **Responsibilities:** + To deliver the FRTB centre of excellence a lead role is required to manage the four key elements of reporting across the various regions. (Default Risk Charge (DRC); Credit Valuation Adjustment (CVA); Residual Risk Add On (RRAO) and Sensitivities Based Method (SBM)) + The centre of excellence is a key concept to ensure the specific knowledge is kept high in the smaller countries where this knowledge will be in short supply and the smaller countries can benefit from the knowledge in Europe. + One core production team in India will produce the reporting across each of the four areas and will be responsible for L1 reviews, this team will deliver all FRTB reporting for all countries to maximise functionalisation and cross coverage. + Each onshore location will have L2 and L3 reviewers, one for each of the areas in the material countries and roles may be merged in the smaller countries. + The lead role is required to support the L2 and L3 reviewers in the smaller countries where it will be very difficult to find talent with knowledge and experience across all areas and to ensure standards are kept consistently high across the group, the role will also ensure functionalisation is maximised in India. **What we are looking for:** + In depth knowledge of all elements of FRTB + High levels of project expertise to work through transition of project parallel run to BAU in a staggered approach as regulation goes live in each country + Understanding of regulatory differences across countries + Experience of working across multi country teams **Preferred skills:** + Prior experience working within Agile methodologies / frameworks + Experience of working within a rapidly changing environment where priorities may change quickly. + Understanding of high profile regulations (FinRep, CoRep, AnaCredit etc) + Experience of working within challenging and dynamic organisational contexts **Benefits of working at Bank of America:** **UK** + Private healthcare for you and your family plus an annual health screen to help you manage your physical wellness with the option to purchase a screen for your partner + Competitive pension plan, life assurance and group income protection cover if you become unable to work as a result of a disability or health reasons + 20 days of back-up childcare including access to school holiday clubs and 20 days of back-up adult care per annum + The ability to change your core benefits as well as the option of selecting a variety of flexible benefits to suit your personal circumstances including access to a wellbeing account, travel insurance, critical illness etc. + Access to an emotional wellbeing helpline, mental health first aiders and virtual GP services. + Access to an Employee Assistance Program for confidential support and help for everyday matters + Ability to donate to charities of your choice directly through payroll and the bank will match your contribution + Opportunity to access our Arts & Culture corporate membership program and receive discounted entry to some of the UK’s most iconic cultural institutions and exhibitions. + Opportunity to give back to your community, develop new skills and work with new groups of people by volunteering in your local community. **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 and how we manage conduct risk. Individual accountability and an ownership mind-set are the cornerstones of our Code of Conduct and are at the heart of managing risk well. We are an equal opportunities employer and ensure that no applicant is subject to less favourable treatment on the grounds of sex, gender identity or gender reassignment, marital or civil partner status, race, religion or belief, colour, nationality, ethnic or national origins, age, sexual orientation, pregnancy or maternity, socio-economic background, responsibility for dependants or physical or mental disability. The Bank selects candidates for interview based on their skills, qualifications and experience. We strive to ensure that our recruitment processes are accessible for all candidates and encourage any candidates to tell us about any adjustment requirements. Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity and affirmative action, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other bases such as medical condition, marital status or any other factor that is irrelevant to the performance of our teammates. To view the "Know your Rights" poster, CLICK HERE (https://www.eeoc.gov/sites/default/files/2023-06/22-088\_EEOC\_KnowYourRights6.12.pdf) . View the LA County Fair Chance Ordinance (https://dcba.lacounty.gov/wp-content/uploads/2024/08/FCOE-Official-Notice-Eng-Final-8.30.2024.pdf) . Bank of America aims to create a workplace free from the dangers and resulting consequences of illegal and illicit drug use and alcohol abuse. Our Drug-Free Workplace and Alcohol Policy (“Policy”) establishes requirements to prevent the presence or use of illegal or illicit drugs or unauthorized alcohol on Bank of America premises and to provide a safe work environment. To view Bank of America’s Drug-free Workplace and Alcohol Policy, CLICK HERE . 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. Should you be offered a role with Bank of America, your hiring manager will provide you with information on the in-office expectations associated with your role. These expectations are subject to change at any time and at the sole discretion of the Company. To the extent you have a disability or sincerely held religious belief for which you believe you need a reasonable accommodation from this requirement, you must seek an accommodation through the Bank’s required accommodation request process before your first day of work. This communication provides information about certain Bank of America benefits. Receipt of this document does not automatically entitle you to benefits offered by Bank of America. Every effort has been made to ensure the accuracy of this communication. However, if there are discrepancies between this communication and the official plan documents, the plan documents will always govern. Bank of America retains the discretion to interpret the terms or language used in any of its communications according to the provisions contained in the plan documents. Bank of America also reserves the right to amend or terminate any benefit plan in its sole discretion at any time for any reason.