Job Description:
About Us
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. Were 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!
Global Business Services
Global Business Services (GBS) delivers Technology and Operations capabilities to Lines of Business and Staff Support Functions of Bank of America through a centrally managed, globally integrated delivery model and globally resilient operations.
Global Business Services is recognized for flawless execution, sound risk management, operational resiliency, operational excellence and innovation.
In India, we are present in five locations and operate as BA Continuum India Private Limited (BACI), a non-banking subsidiary of Bank of America Corporation and the operating company for India operations of Global Business Services.
Process Overview*
Global Finance was set up in 2007 as a part of the CFO Global Delivery strategy to provide offshore delivery to Line of Business and Enterprise Finance functions. The capabilities hosted include Accounts Payable, General Accounting & Reconciliations, Treasury Management Support on Capital, Liquidity and Balance Sheet Management, Management Reporting & Analysis, Research & Analytics, Financial Transaction Processing, Finance Systems Support & Regulatory reporting. Over the years, the scope of Global Finance has been expanded to include operations for other enterprise control functions like Human Resources and Risk and Compliance.
The Global Regulatory Reporting (GRR) function, a part of the Global Financial Control organization within the CFO Group, is responsible for accurate filing of non-liquidity related financial regulatory reports including call reports, cross-Border BEA and state fillings, FINREP, COREP, AnaCredit & Statistical reporting.
Job Description*
GRR has set up a multi-year program to perform conformance and transaction testing on GRR high-risk reports. The primary responsibility of this role is to perform observation management which includes root cause analysis, thematic review of findings, and partnership with key stakeholders to design and deliver on remediation solution.
Responsibilities*
- Once the review team identifies an issues, this individual will conduct observation management, including: root cause analysis, thematic review of findings, partnership with key stakeholders to design and deliver on remediation solution.
- Adequately document and retain test results, evidence of observations, and ensure that observed points of weakness in controls and non-conformance are documented in a clear, concise, and actionable manner
- Support the Observation Management Lead in identification of and working with key stakeholders to review and validate observations
- Continuously apply lessons learned to recommend opportunities for increased effectiveness and efficiency of our observation management approach
Requirements*
Education*
Chartered Accountant or post-graduate degree in business
Experience Range*
15+ years of which at least 10 years in relevant roles i.e. Regulatory reporting production, legal entity controller, product controller
Foundational skills*
- Strong background in financial regulatory reporting in the US, the UK and Europe.
- Deep understanding of prevalent regulatory environment and emerging regulatory expectations
- Experience of working as a product controller for derivatives, fixed income, equities or retail banking products
- Demonstrates a healthy skepticism and ability to partner with a multiple stakeholders including, third-party vendor, to understand findings for root cause analysis
- 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
- Proven ability to work in a collaborative environment to achieve stated objectives
- Strong organizational skills and attention to detail, and good with numbers
- Proficient with Microsoft Office products (particularly MS Excel, Word, Visio, PowerPoint)
Desired Skills
- Experience of reading and writing SQL queries (TOAD, Tableau)
- Experience in working with large datasets
Work Timings*
11:30 am to 8:30 pm
Job Location*
Mumbai
