Manager

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*

Global Risk Analytics (GRA) and Enterprise Independent Testing (EIT) are sub-lines of business within Global Risk Management (GRM). Collectively, they are responsible for developing a consistent and coherent set of models, analytical tools, and tests for effective risk and capital measurement, management and reporting across Bank of America. GRA and EIT partner with the Lines of Business and Enterprise functions to ensure the capabilities they build address both internal and regulatory requirements, and are responsive to the changing nature of portfolios, economic conditions, and emerging risks. In executing their activities, GRA and EIT drive innovation, process improvement and automation.

Job Description*

This job is responsible for identifying, analyzing and resolving complex problems in US regulatory reporting process.

The primary responsibility is to test assigned regulatory reports in an accurate and timely manner in accordance with the US GAAP and instructions from regulatory authorities, which requires in-depth knowledge of financial products, financial accounting and regulatory reporting as well as understanding of the financial industry.

• Reconcile reporting data and perform variance analysis.
• Ensure that changes on the reporting instructions made by the regulatory authorities are incorporated within the reports submitted.
• Coordinate with multiple stakeholders across organization.
• Support management and team members.

Responsibilities:

• Design and manage testing based on enterprise needs for pre-submission testing of FR Y-14Q/M, FFIEC031 etc., regulatory reports.
• Experience in the financial service working with large banks clients extensively on engagements involving regulatory reporting system testing and implementation, regulatory data quality, report assurance.
• Thorough understanding of regulatory capital framework, BASEL III standardized and advanced approaches, country risk reporting, liquidity reporting, RWA calculations and interpretations.
• Determine appropriate and defendable conclusions for test efforts based on test type, sampling and scope.
• Evolve testing methods and processes in support of OPEX including increasing efficiency and coverage while reducing stakeholder impacts.
• Manage ad hoc efforts (projects, etc.) and SIAI/audit issues from initiation through completion.
• Manage and develop a robust and nimble team and drive the transformation of skillsets to support new testing approaches.
• Accountable for quality testing execution, reporting and analysis of results.
• Perform data profiling exercise for the targeted critical data elements.
• Develop regulatory reporting dashboard to align to the strategic goals.
• Develop rules to automate the regulatory instructions.
• Mentor and lead the team.
• Documentation of observations and socialize with the relevant stakeholders.
• Prepare documentation after every quarter for lessons learnt and automation capabilities.

Requirements*

Education*

• Bachelor's degrees or above in fields including but not limited to: Finance, Economics, Mathematics, Computer Science, Statistics, Process and Mechanical Engineering, Operations Research, Data Science, Accounting, Business Administration

Foundational /Desired skills*

• Knowledge of key reporting requirements such as FR Y-15, FR Y-9C, FR Y-9LP, FFIEC 031, FR Y-14Q/M/A, FFIEC 101, FR2052a etc.
• Experience in working on projects to improve the existing reports, enhance data quality and traceability. In depth understanding of various QA testing activities like Conformance, Data profiling and Validation.
• High degree of comfort when working with data and spreadsheets (e.g. pivot tables and lookups)
• Good presentation and communication skills, both written and oral. Ability to communicate effectively on abstract risk management concepts.
• Ability to quickly absorb financial concepts and apply them to real world situations.
• Wide range understanding of controller view objects, including Data Sources, Data Model, Aggregation, Shorthand, Portfolio, Modify models, Free form/Tabular reports, etc.
• Proven self-dependent AXIOM coding experience with the ability to work without guidance or support.
• Experience in working in Agile projects, including participation in Backlog grooming, sprint panning, and Daily stand-up meetings.
• Resolve challenging issues, often with limited information in AXIOM to meet regulatory deadlines.
• Understanding of Credit risk, Liquidity risk and Market risk
• Stakeholder management
• Certified FRM / CFA or any equivalent (Good to have but no mandatory)

Work Timings*

11:30 PM to 08:30 PM

Job Location*

Hyderabad / Gift City