Analyst GBS

Job Description 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. 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 Global Business Services Global Business Services 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. ARQ supports global businesses of the Bank with solutions requiring judgment application, sound business understanding and analytical perspective. The domain experience in the areas of Financial Research & Analysis, Quantitative Modeling, Risk Management and Prospecting Support provide solutions for revenue enhancement, risk mitigation and cost optimization. The division comprising of highly qualified associates operates from five locations i.e., Mumbai, Gurugram, Hyderabad, GIFT City and Chennai. The Regulatory Process and Issues Management process oversees the risk and audit issue portfolio for Merrill Wealth and Investment Management. Job Description. This position at Merrill Wealth Management Regulatory Process and Issues Management is accountable for performing Quality Assurance (QA) reviews of an assigned audit issue portfolio and execute the issues management process. Candidate would perform regular QA routines including Governance, Training, Recording keeping, Controls, Monitoring, and Escalation associated with the Wealth Management Change Management framework. Responsibilities. - Issue Management - QA of Severity 3 action step closure evidence and CIMA input creation for all new issues and Action Plan submissions - Monthly analysis and reporting of 60 day target for entry to CIMA for each Monthly Issues Forum - Quarterly analysis and reporting of action plans with re-grade steps and length of action plans - Thematic Analysis Phase 2 Dashboard (Product View) - Manual review of new issues to label what product and/or product lifecycle would be associated to each issue. - QA for Phase 1 (Issue Themes) - Regulatory Change reporting process - Create monthly regulatory change deck for the Governance Council Meeting - Review draft Reg Change Reporting with Business Controls Team - Distribute Reg Change deck and obtain implementation status updates from mostly ML FLUs, control partners and other organizations across the Bank - Gather FLU responses and update the draft deck with the information obtained. - Send updated deck to Business Controls for final review - Legal Entity Alignment and MLPFS Registration and Licensing - Own the routines gathering data from: 1) R&L 2) GHR and 3) Finance. - Formatting data in order to share (and make comprehensible) with GWIM FLUs and organizations across the Bank - Review employment and R&L data to identify potential misaligned employees by: - Reviewing metrics and hierarchies in scope - Reviewing previous responses from organizations that rationalized employment alignment. - Compile, review and distribute files to LOB for review (highlighting purportedly misaligned employees or R&L gaps) - Gather responses and field follow up questions/issues from LOBs - Escalate recurring misalignments since previous review Requirements. - Education. - B. Tech/M. Tech/MBA degree from reputed institutes. - Certifications If Any NA - Experience Range. - 2-5 years of experience in Audit, Compliance or Risk Management discipline - Foundationalskills. - Strong analytical skills - Strong skills in Excel and PowerPoint - Experience in Audit, Compliance or Risk Management discipline - Ability to work independently with Legal, Risk, Compliance and Front Line Units - Ability to either run a work stream in a key initiative or run a small project within FLU - Ability to influence without direct authority - Excellent communications skills - Ability to communicate (verbal and written) what we do, how we do it and do we do it well- clearly and concise. - Ability to cascade messages to different audiences. - Presents ideas clearly. - Listens to others opinions. - Desired skills. - Experience with Bank of America Risk Framework through a role in Risk, Compliance or Audit or FLU Business Controls - Extensive knowledge of risk framework, risk management and issues management - Knowledge of laws, rules and regulations for ML businesses Work Timings. 11:30hrs to 20:30hrs IST Job Location. Mumbai, Chennai