Job Description:

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!

Job Description:
This job is responsible for assisting in providing risk oversight and advice to the Line of Business (LOB) on risk management issues. Key responsibilities include monitoring and adhering to risk management policies, limits, standards, controls, metrics and thresholds within the defined corporate standards, assisting in conducting execution of risk framework activities including independent monitoring and testing of controls and risk management processes for the LOB. Job expectations include the ability to recognize all risk categories including credit, market, operational, and compliance.

This role aligns to the Global Regulatory Reporting (GRR) Team within the CFO Global Financial Control (GFC) department. GRR’s purpose is to drive high quality regulatory reports through operationally efficient processes to support the production of various regulatory reports as required by Regulatory authorities. The primary responsibility for this role is assist the Quality Assurance (QA) manager in the build out of the function for GRR-US. This individual would partner with teams across locations and will work closely and regulatory reporting Subject Matter Experts (SMEs). The role will have responsibility for reviewing GRR’s end to end processes to perform independent QA testing activities (e.g.. Controls, Conformance, Data Profiling testing) to ensure accurate and well-controlled reporting and for reviewing results of testing performed by teams l. The QA team will rotate through GRR’s submissions and will be expected to identify, define, and implement Operational Excellence opportunities.

Responsibilities:

Assists in establishing and overseeing the risk management governance structure for the Line of Business (LOB)

Assists in conducting execution of risk framework activities including monitoring and testing of controls and risk management processes for the LOB

Liaisons with businesses to understand market trends and impacts on portfolio, using knowledge of stress testing and its applicability to risk categories

Ensures adherence to the policies and procedures established by the company

Supports the management of risk requests, breach remediations and providing risk effective challenges for front line units

Assists in the planning, coordination and management of the day-to-day execution of the Global Regulatory Reporting In-Line Quality Assurance program and develop a sustainable operating model, including coverage for US regulatory reports

Assists in creation of an intake process and prepare test calendar, including risk assessment methodology, resource plans, test schedule for internal socialization and approval with Report Owners and GRR Executives

Assists in creation of a standardized, scalable approach for test setup, scoping, sample selection that can be replicated each test cycle  

Manages and monitors a detailed inventory of test scripts for each test type to verify accuracy, consistency and completeness of GRR’s end to end reporting production process

Executes pre and post-submission test scripts and publish test results within defined SLAs

Validates and publishes test findings, including thematic observations and repeat errors

Reports on metrics to monitor performance, success criteria and results of the in-line QA program 

Identifies opportunities to deliver continuous improvement to scale program and deploy use of advanced technologies to drive efficiency and growth 

Develops/maintains integrated workplans, create executive status reports and other executive presentations/reporting and track program progress

Represents the program in various governance and inter-department forums, as appropriate

Skills:

Critical Thinking

Ability to think end-to-end

Control minded, asks questions

Self-motivated and self-directed

Excellent time management skills, works under deadlines

Decision Making

Executive Presence

Talent Development

Issue Management

Oral Communications

Written Communications

Analytical Thinking

Presentation Skills

Regulatory Compliance

Automation

Data and Trend Analysis

Interpret Relevant Laws, Rules and Regulations

Required Qualifications:

7-10+ years’ experience in regulatory reporting and an understanding of our regulatory environment

Ability to execute against large, integrated project workplans

Ability to create executive status reports and other executive presentations/reporting and tracking program/project progress

Ensure issues/risks are proactively identified, appropriately escalated and include alternative approaches/mitigation plans and manage

Demonstrates a healthy skepticism and ability to develop effective testing approaches in a regulatory reporting environment

Strong controls mindset with ability to perform root cause analysis and design adequate solutions

Strong written and verbal communication

Committed to continuous improvement of processes to maximize effectiveness and improve efficiency, including leveraging emerging technologies

Demonstrated ability to interact with 2nd and 3rd lines of defense in a constructive manner

Proven ability to work in a collaborative environment to achieve stated objectives

Desired Qualifications:

CPA or equivalent work experience

Prior audit, testing or issue management experience

Experience in providing thought leadership and ability to lead without direct authority

Shift:

Hours Per Week: