Quality Assurance Lead for Global Regulatory Reporting - US
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:
Responsible for providing risk oversight and advice and counsel to the LOB. Establish risk management policies, limits, standards, controls, metrics and thresholds within the defined corporate standards. Ability to recognize all risk categories including credit, market, operational and compliance and bringing appropriate risk expertise as needed. Accountable for conducting execution of risk framework activities including, but not limited to, independent monitoring and testing of controls and risk management processes for the LOB. Establish and oversee the risk management governance structure for the LOB.
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 to build and manage the Quality Assurance (QA) function for GRR-US. This individual would lead a matrix team 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. The QA team will rotate through GRR's submissions and will be expected to identify, define, and implement Operational Excellence opportunities.
Responsibilities:
Plan, coordinate and manage 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
Create 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
Establish a standardized, scalable approach for test setup, scoping, sample selection that can be replicated each test cycle
Create 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
Execute pre and post-submission test plans and publish test results within defined SLAs
Develop standard approach to validate and publish test findings, including thematic observations and repeat errors
Establish metrics to monitor performance, success criteria and results of the in-line QA program
Identify opportunities to deliver continuous improvement to scale program and deploy use of advanced technologies to drive efficiency and growth
Develop/maintain integrated workplans, create executive status reports and other executive presentations/reporting and track program progress
Communicate, influence and negotiate both vertically and horizontally to obtain partnership and engagement required to deliver program deliverables
Represent the program in various governance and inter-department forums, as appropriate
Managerial Responsibilities:
This position may also have responsibilities for managing associates. At Bank of America, all managers at this level demonstrate the following responsibilities, in addition to those specific to the role, listed above.
Diversity & Inclusion Champion: Models an inclusive environment for employees and clients, aligned to company D&I goals.
Manager of Process & Data: Demonstrates deep process knowledge, operational excellence and innovation through a focus on simplicity, data based decision making and continuous improvement.
Enterprise Advocate & Communicator: Communicates enterprise decisions, purpose, and results, and connects to team strategy, priorities and contributions.
Risk Manager: Ensures proper risk discipline, controls and culture are in place to identify, escalate and debate issues.
People Manager & Coach: Provides inspection, coaching and feedback to motivate, differentiate and improve performance.
Financial Steward: Actively manages expenses and budgets in alignment with objectives, making sound financial decisions.
Enterprise Talent Leader: Assesses talent and builds bench strength for roles across the organization.
Driver of Business Outcomes: Delivers results by effectively prioritizing, inspecting and appropriately delegating team work.
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:
10-15+ years experience in regulatory reporting and an understanding of our regulatory environment
Proven direct leadership experience of managing a team
Develop/maintain large integrated project workplans, initiating implementation programs, creating 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:
Master's degree, 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:
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.
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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.
