Bank Of America Regulatory Reporting Consultant-Collateral Operations-Global 

United States, Illinois, Chicago 

476825861

Job Description:

Job Description:

This job is responsible for providing analysis for one or more operations product areas in the delivery of moderately complex regulatory reporting and/or regulatory processing. Key responsibilities include analyzing and resolving highly complex operations problems, projects and initiatives, and contributing to the resolution of highly complex problems. Job expectations include coordinating across multiple operations functions and products with the introduction of new initiatives, systems, products, services, and processes.

Line of Business Job Description:

Global Collateral Operations manages the receipt of collateral from the company’s trading counterparties and the payment of collateral due to those counterparties, with a global credit support model for the Derivatives, Fixed Income and Prime Brokerage businesses. The Shared Services Reporting team is responsible for the production of reports and information required to comply with both internal management and regulatory reporting requirements. We strive to understand the data requirements and the context in which data will be used and are responsible not only for the accuracy and completeness of data provided but also for meeting reporting process standards for inventory, documentation, communication, validation and attestation.

Responsibilities:

• Delivers moderately complex regulatory reports to regulatory agencies in line with expectations on completeness, accuracy, and timeliness

• Executes control practices, including compliance with all regulatory and policy requirements, including data quality standards

• Documents key risks, performance indicators, desktop procedures, controls and metrics related to reporting, and executes quality assurance, quality control, and report production tasks for regulatory reports

• Supports the response to regulatory agencies and internal control partners on inquiries and reporting breaches

• Participates in the representation of the reporting function to control partners (e.g., Audit and Compliance)

• Identifies, tracks, and remediates errors, breaches, data issues, and control enhancements that impact reports

• Contributes to the partnerships with key stakeholders, including upstream process owners, data providers, and Non-Financial Regulatory Reporting Interpretation and Technology teams

• and maintain control processes to ensure the delivery of timely and accurate data. Provision data on collateral transactions and balances to satisfy multiple reporting requirements;
• Manage daily activities ensuring adherence to the reporting requirements, and to the deadlines and quality standards established in the procedures. Collateral functions supported with reporting include Over the Counter and Exchange Traded Derivatives, Fixed Income trading and Prime Brokerage services;
• Work with Collateral Operations teams to analyze changes to the collateral management workflow, systems and processes, and ensure all data sourcing and control process documentation is updated to reflect the impact of changes;
• Work with Finance, Risk, Legal and Enterprise Reporting teams to understand, analyze and document changes to reporting requirements and to stay abreast of new regulations that impact the team;
• Enable the team to eliminate and automate manual processes. Manage transition focusing on driving operational excellence, and strive for building standardized, integrated, controlled and properly-evidenced reporting solutions;
• Oversee inter-system reconciliations;
• Understand applicable laws, rules and regulations and the risks inherent in the business. Participate in process deep dives and risk assessments in order to determine gaps and exposure, and to rollout standard Risk Frame Work on controls and processes;
• Design and publish appropriate metrics for operations control;

Required Skills

• Strong understanding of financial markets with 2 or more years of experience in any of the following disciplines: Valuations, derivatives or fixed income lifecycle, regulatory reporting, operations, collateral management; as well as balance sheet attestation and general ledger reconciliations;
• Strong data mining and analysis skills; proficient in Tableau and Microsoft Excel;
• Methodical and organized mindset, with strong control background and attention to detail with regards to ensuring data integrity, and in reviewing documents in accordance with provided procedures/standards;
• Excellent verbal and written communication skills for the documentation of key control processes into desktop procedures;
• Ability to present issues/ideas of high complexity in an easy to understand manner;
• Ability to meet deadlines and multi-task;

Desired Skills and Experience

• Bachelor's Degree
• Prior operations experience in the specific functional/product areas;
• Management and Regulatory Reporting exposure;
• Tableau & Microsoft Excel

Skills:

• Problem Solving
• Reporting
• Attention to Detail
• Critical Thinking
• Data Quality Management
• Prioritization
• Risk Management
• Analytical Thinking
• Data Mining
• Decision Making

1st shift (United States of America)