Quality Assurance Specialist 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:
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:
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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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.
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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.
