Bank Of America Regulatory Reporting Controller II 

United Kingdom, England, City of Westminster 

502520622

Job Description:

Job Title:Regulatory Reporting Controller II

Corporate Title:Assistant Vice President

Global Regulatory Reporting is part of Global Financial Control and is located in the US, UK, Ireland, France and India. The EMEA team for capital reporting currently consists of over 50 people in Europe and India and we are expanding the team. In addition to our regulatory deliverables, we are involved in various activities such as providing capital adequacy impact analysis to various Front Office groups on new products/transactions, client migrations and other strategic projects with the key stakeholders being GRR EMEA country heads, Griffin data ops, IT, front office traders, Data Management, Change Management.

Responsibilities:

This is a role in EMEA Regulatory Reporting team. The role will deepen your knowledge of financial products and provide a great opportunity to build knowledge of prudential regulation. Responsibilities include:

• FRTB - Involved in implementation of FRTB rule changes/updates for capital requirements and external reporting scheduled for 2026, including model and system testing and development of the reporting capabilities

• Preparing and reviewing the UK and EU capital calculations and reporting of 3 prudentially regulated entities. The team carries out all standardised and internal model RWA calculations and reporting across UK, France and Ireland

• Daily capital calculations/analysis - Review daily RWA calculations to be incorporated in the daily capital adequacy status sent out to senior managers to support management of UK and EU entities

• Business Partnering – Collaborate with Front Office, market risk, model developers and other groups on capital management and RWA efficiencies

• Stakeholder interaction - Deal with ad-hoc requests from external regulators and partnering and internal stakeholders such as Risk, Internal Audit and Compliance

• Issue management – leading the team in identifying and remediating process and other issues impacting the Capital Reporting process

• System development (BAU) – Initiation of technology change to support changing rules, and our continuing process to improve efficiency and controls. Review of business requirements, help with data sourcing and carry out UAT and post deployment testing

• System development (Strategic) – As a user help to define data/ calculation/reporting requirements for an in-flight infrastructure project including analysis tools.

• Helping to oversee the UK and EU capital calculations and reporting of 3 prudentially regulated entities

• External Regulatory Reporting and Disclosures – Produce the quarterly COREP and other disclosures including manual adjustments, reconciliations, period on period variance analysis for UK and EU entities, presenting these results to management

What we are looking for:

• Qualified Accountant, CFA or equivalent or a relevant degree or experience

• Experience in a prudential regulatory reporting function in an international financial institution

• Knowledge of the EU and UK regulatory framework, specifically on elements of FTRB market risk and/or CVA

• Experience in CoRep and Pillar 3 disclosures

• Understanding of basic Market risk management concepts (e.g., diversification, hedging, payoff profiles, etc.)

• Good product knowledge including payoff types and product features (KI/KO, structures, futures vs forwards, etc.)

• Basic understanding of market conventions, underlying’s, and impact of reference data on calculations

• Basic understanding of pricing models and impact on the calculation of FRTB/CVA inputs

• Ability to understand implications of regulatory requirements on technical implementation of the calculations

• Ability to perform risk drivers’ analysis and provide commentary on variance in capital requirements

• Ability to communicate clearly on technical topics with risk management and front office

• Control focused mentality

• Highly proficient in Excel, including the ability to work with large datasets

UK

• Private healthcare for you and your family plus an annual health screen to help you manage your physical wellness with the option to purchase a screen for your partner

• Competitive pension plan, life assurance and group income protection cover if you become unable to work as a result of a disability or health reasons

• 20 days of back-up childcare including access to school holiday clubs and 20 days of back-up adult care per annum

• The ability to change your core benefits as well as the option of selecting a variety of flexible benefits to suit your personal circumstances including access to a wellbeing account, travel insurance, critical illness etc.

• Access to an emotional wellbeing helpline, mental health first aiders and virtual GP services.

• Access to an Employee Assistance Program for confidential support and help for everyday matters

• Ability to donate to charities of your choice directly through payroll and the bank will match your contribution

• Opportunity to access our Arts & Culture corporate membership program and receive discounted entry to some of the UK’s most iconic cultural institutions and exhibitions.

• Opportunity to give back to your community, develop new skills and work with new groups of people by volunteering in your local community.

We strive to ensure that our recruitment processes are accessible for all candidates and encourage any candidates to tell us about any adjustment requirements.