Bank Of America Manager 

India, Gujarat, Gandhinagar 

664825103

Process Overview*

CFO testing is a risk-based program to identify & confirm data gaps in various high risk financial regulatory reports filed by the bank like FR- Y-9C, FR- Y-15, FFIEC 031/041, FFIEC 009, FFIEC 101 & Liquidity Reports. The team also forms an integral part of the remediation work required for MRA raised by FRB for Regulatory Reports filed by the bank.

Responsibilities*

• Design and manage testing based on Enterprise needs for pre-submission testing of 14 Q/M, FFIEC 031, etc. reports
• Experience in the financial services working with large banking 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
• Involved in regulatory reporting system testing and implementation, regulatory data quality, report assurance
• Determine appropriate and defendable conclusions for test efforts based on test type, sampling and scope
• Evolve testing methods and processes in support of Op Ex 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
• Manage the relationship with external consultants, front line unit (FLU) /Control Function (CF) Compliance and Operational Risk groups.
• Participates in routines involving senior leaders across Enterprise Independent Testing (EIT), Enterprise Data Strategy, Global Compliance and Operational Risk (GCOR), Global Risk Management, CFO Group, Technology & Operations to share testing progress, results and assist with strategic planning efforts.
• Participates in routines involving FLU/CF, Compliance and regulatory agencies and interact with senior auditors both verbally and in writing.

Requirements*

Commerce Graduate/Chartered Accountant/CPA/CFA/CPA/MBA/Master's degree or equivalent in Accounting and/or Finance Certifications If Any

Experience Range*

4 years to 7 years

Foundational skills*

• 7+ years of experience in Regulatory & Legal Support on risk data and regulatory matters; covering assessment, design, and implementation of regulatory report production processes

• Performed various assurance activities to identify and analyze the gaps in the reporting, e.g., FR Y 9C, FR Y-15, FFIEC 031, FFIEC 009, FR 2052a and FR Y 14Q.

• Test management (focus on sampling, test objectives/ conclusions, test results interpretation, etc) experience

• The assurance activities involves Conformance Testing and Transaction Testing.

• Quality assurance activities involving the testing of end-to-end data flow, transformations and logics implemented in different reporting tools such as AXIOM and OFSAA.

• Strong oral & written communication skills and comfortable presenting to a wide variety of audiences

• Comfortable leading and influencing with and without direct authority

• Resourceful/ proactive in situations when not all information is available or there is no apparent “right” answer

• Strong focus on Risk Management

• Capable to navigate conflict to enable productive solutions

• Close attention to detail

Desired skills :

Bank Domain Knowledge

• Strong analytical skills including excel skills (vlookup, pivot and other excel analytics features)

• Experience as part of an Audit organization or a deep history of interactions with Audit (Internal and External)

• Strong Project Planning/Management

• Basic knowledge of Tableau and/or other reporting tools

• Process development

• Familiarity Policy/Governance and Data Related Laws, Rules, Regulations