The Regulatory Reporting Assurance (RRA) department is a management assurance team in the Controller's Organization within Corporate Finance. The Regulatory Assurance team is responsible for the independent verification of controls and processes over BCBS 239 implementation, global regulatory reporting, including Liquidity Reporting, Basel, Comprehensive Capital Analysis and Review (CCAR), and areas of high risk and enhanced regulatory focus. The primary focus of the team is the review and assessment of the quality of information pertaining to reporting, conformance to regulatory instructions, and the assessment of relevant risk management programs. The team works closely with other functions across BCBS 239 First and Second Lines, Finance, Global Treasury, Risk Management and Business Units, as well as other assurance functions. This is an opportunity to join a transforming group and actively participate in its development and maturity, to learn about key regulatory requirements and gain an understanding of all areas of the company's business.
RRA has a mission to:
- Provide credible challenge to management to drive compliance with regulatory and policy requirements
- Support executive management and the board by reporting on the effectiveness of key financial and regulatory processes
- Advise in the proactive identification of operational and compliance risks and effective mitigation strategies through effective business partnership
- Offer risk and control insights to improve business results that are predicated on collaborative business partnerships.
Key Responsibilities:
- Execute a framework to test if the internal systems supporting compliance with regulatory requirements and expectations are properly designed, documented and implemented andinclude appropriate governance and data quality controls
- Review and provide feedback on deliverables
- Perform risk assessments to identify areas requiring detailed testing
- Lead and participate in reviews, including assessing the internal control environment, developing testing strategies and reviewing control and sample data testing
- Lead and participate in discussions with process and control owners to assess inherent risks, identify controls andcontrol gaps, by conducting walkthroughs
- Challenge, assess, detail test the design and operating effectiveness of controls
- Identify,document and maintain evidence supporting process and controls objectives. Lead the identification and risk assessment of issues and work with management to track issues to resolution
- Draft recommendations and liaise with the business units to remediate risks, findings and gaps identified during the validation process
- Provide updates to management as needed
- Engage key business partners to facilitate completion of assigned deliverables and explain results
- Cultivate relationships across the Finance organization and Corporation with key constituency groups, such as Regulatory Reporting, Product Controllers, Operations, Treasury, Technology and Risk
- Develop subject matter expertise in regulatory requirements, best practices and expectations
- Identify and drive transformation efforts to further enhance the functionality of RRA as a first line of defense team
- Provide day to day coaching and guidance to teammates
Job Requirements:
Education and Experience:
- Bachelor's Degree in Accounting, Chartered Accountant (CA) and/or Certified Public Accountant (CPA) with more than 6 years of progressive auditing experience preferably financial services and/or Big 4
- Certified Internal Auditor (CIA) / Chartered Financial Analyst (CFA) certification or candidate is a plus
- Familiarity with FRB regulations and SEC requirements associated with the Financial Services Industry
- Knowledge/work experience in IT General control testing and Data Analytics is aplus
Skills/ Knowledge:
- Deep understanding of the internal control environment
- Strong knowledge of BCBS 239 guidelines
- Knowledge of banking products and services, especially loans, deposits, securities and derivatives
- Auditing skills and experience in the review and interpretation of regulatory requirements
- Exceptional analytical and critical thinking abilities able to develop and convey a point of view
- Strong oral and written communication skills ability to effectively challenge and influence
- Demonstrated leadership capabilities with solid interpersonal skills and the ability to work collaboratively across all organizational tiers. A strong customer service mindset is a must
- Must be proactive and a goal oriented strategic thinker with ability to identify creative solutions
- Demonstrated ability to manage workloads and prioritize deliverables ability to be flexible
- Strong attention to detail and accuracy
- Ability to multi-task and take on a challenging workload and assignments
- Ability to be proactive with minimal direction, ability to work independently and meet deadlines
- Ability to thrive in a team environment, working collaboratively with others
- Inquisitive and curious about business and functions, strong desire to learn
- High energy and positive attitude
- Professionalism, dependability, integrity and trustworthiness combined with a cooperative attitude
