Regulatory Reporting Operations Professional
Charlotte, North Carolina
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 providing analysis for one or more operations product areas in the delivery of moderately complex regulatory reporting. Key responsibilities include analyzing and resolving highly complex operations problems, projects and initiatives, and contributing to the resolution of highly complex problems. Job expectations include coordinating across multiple operations functions and products with the introduction of new initiatives, systems, products, services, and processes.
This position will support the Regulatory Processes & Reporting Team. The associate in this role will be responsible for operations broker dealer and bank regulatory reporting requirements. The associate will liaise with Finance and Operations associates to research exceptions and analyze operational data for compliance with applicable industry rules. The associate in this role may have oversight for the offshore functions aligned with the Regulatory Reporting team. This role will be cross trained on and provide back up support on reporting functions performed by the team, including but not limited to TIC Reporting, FINRA INSITE Reporting, and FOCUS Reporting. Associate may spend up to 20% of their time working on regulatory initiatives. Associate will be expected to perform ongoing evaluations, quality assurance, and process testing and control improvements to regulatory reporting processes.
Responsibilities:
- Cross Train and Backup assigned functions within the process
- Escalate issues to management/risk as necessary
- Participate in tactical and strategic initiatives related to assigned Regulatory Reporting
Responsibilities:
Delivers moderately complex regulatory reports to regulatory agencies in line with expectations on completeness, accuracy, and timeliness
Executes control practices, including compliance with all regulatory and policy requirements, including data quality standards
Documents key risks, performance indicators, desktop procedures, controls and metrics related to reporting, and executes quality assurance, quality control, and report production tasks for regulatory reports
Supports the response to regulatory agencies and internal control partners on inquiries and reporting breaches
Participates in the representation of the reporting function to control partners (e.g., Audit and Compliance)
Identifies, tracks, and remediates errors, breaches, data issues, and control enhancements that impact reports
Contributes to the partnerships with key stakeholders, including upstream process owners, data providers, and Non-Financial Regulatory Reporting Interpretation and Technology teams
Required Skills :
- 3-5 years brokerage operations experience, preferably in a regulatory or control department
- Working knowledge of stock record and/or broker dealer books and records concepts
- College Degree (Associates or higher) or comparable work experience
- Intermediate-level Excel knowledge
- Detail orientation
- Ability to manage multiple priorities and multi task
- Excellent time management and prioritization skills, with ability to meet tight deadlines
- Ability and willingness to continuously learn on the job
- Ability to problem-solve and take ownership of process improvements
- Able to work in a team environment
- Excellent verbal and written communication skills with ability to communicate with various stakeholders
Desired Skills :
- Strives to bring new thoughts and ideas to teams in order to drive innovation and unique solutions.
- Excels in working among diverse viewpoints to determine the best path forward.
- Experience in connecting with a diverse set of clients to understand future business needs - is a continuous learner.
- Commitment to challenging the status quo and promoting positive change.
- Participate in and drive collaborative efforts to advance tools, technology, and ways of working to better serve an evolving client base.
- Believes in value of diversity so we can reflect, connect and meet the diverse needs of our clients and employees around the world.
Skills:
Problem Solving
Reporting
Attention to Detail
Critical Thinking
Data Quality Management
Prioritization
Risk Management
Analytical Thinking
Data Mining
Decision Making
Shift:
1st shift (United States of America)
Hours Per Week:
40
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 "EEO is the Law" poster, CLICK HERE (https://www.dol.gov/ofccp/regs/compliance/posters/pdf/eeopost.pdf) .
To view the "EEO is the Law" Supplement, CLICK HERE (https://www.dol.gov/ofccp/regs/compliance/posters/pdf/OFCCP_EEO_Supplement_Final_JRF_QA_508c.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 .
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.
