Global Regulatory Reporting Observation Management Sr. Specialist

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:

The Global Regulatory Reporting (GRR) function, a part of the Global Financial Control organization within the CFO Group, is responsible for accurate filing of non-liquidity related financial regulatory reports. A third-party vendor will perform conformance and transaction testing on GRR high-risk reports. The primary responsibility of this role is to perform observation management which includes root cause analysis, thematic review of findings, and partnership with key stakeholders to design and deliver on remediation solution.

Responsibilities:

• When the third-party vendor identifies issues, this individual will conduct observation management, including: root cause analysis, thematic review of findings, partnership with key stakeholders to design and deliver on remediation solution.

• Assist in the coordination of conformance and transaction testing performed by third-party vendor

• Adequately document and retain test results, evidence of observations, and ensure that observed points of weakness in controls and non-conformance are documented in a clear, concise, and actionable manner

• Support the Observation Management Lead in identification of and working with key stakeholders to review and validate observations

• Continuously apply lessons learned to recommend opportunities for increased effectiveness and efficiency of our observation management approach

Required Qualifications:

• 3-5+ years experience in regulatory reporting or related field in the financial industry

• Demonstrates a healthy skepticism and ability to partner with a third-party vendor to understand findings for root cause analysis

• 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

• Proven ability to work in a collaborative environment to achieve stated objectives

Desired Qualifications:

• Understanding of our regulatory environment

• Bachelor’s degree or equivalent work experience

Skills:

• Critical Thinking

• Decision Making

• Issue Management

• Oral Communications

• Written Communications

• Analytical Thinking

• Change Management

• Presentation Skills

• Regulatory Compliance

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.