Team Leader
Bank of America Corporation
Gurugram
12d ago

Job Description :

Overview (Bank of America Merrill Lynch overview, BA Continuum India overview, Business Overview)

Bank of America Merrill Lynch is one of the world's largest financial institutions, serving individual consumers, small-

and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services.

Bank of America Merrill Lynch is the marketing name for the global banking and markets businesses.

BA Continuum is a nonbank subsidiary of Bank of America, part of our Global Delivery Center of Expertise in the bank. Our employees help our customers and clients at every stage of their financial lives, helping them connect to what matters most.

This purpose defines and unites us. Every day, we are focused on delivering value, convenience, expertise and innovation for the individuals, businesses and institutional investors we serve worldwide.

We are committed to attracting and retaining top talent across the globe to ensure our continued success. Along with taking care of our customers, we want to be the best place for people to work and aim at creating a work environment where all employees have the opportunity to achieve their goals.

BA Continuum India Pvt. Ltd. supports business process, information technology and knowledge process across Consumer Banking, including Card and Home Loans, Legacy Asset Servicing, Global Banking and Markets, and Global Wealth and Investment Management lines of business at Bank of America.

Global Markets Operations provides operations support to the Global Markets Business of BOAML. Key Business activities include back office and middle office operations related to securities, derivatives, futures, options, currencies (fx) and commodities.

Key functions include Trade Processing & settlement, Inventory Management, Cash Management, Asset Services, Collateral Management, Reconciliation, and Client & Product Data.

This role is part of Global Markets Operations (GMO) Non-Financial Regulatory Reporting - Independent Quality Assurance (NFRR - iQA)

Process Overview

Non-Financial Regulatory Reporting - Independent QA (NFRR - iQA) function has been set-up with the core objective of performing independent post process quality checks on the Non-

Financial Regulatory Reports for Global Banking and Markets (GBAM) to assess the Completeness, Accuracy and Timeliness (CAT) of the reports submitted to regulators.

Job Description

We are looking for an experienced associate to support the expansion of the iQA function. The role has a global reach with many of the deliverables requiring global collaboration across multiple lines of business and asset classes.

The purpose of the team is to drive delivery of a variety of projects (and issues) some of which we are owners, while others require relationship building, influencing skills and the ability to maintain an independent perspective.

The role involves performing independent quality checks on the Non-Financial Regulatory reports, listed in GBAM inventory, to assess the Completeness, Accuracy and Timeliness (CAT)) of the reports, to avoid the risk of potential reporting errors which could result in regulatory fines and reputational risk.

There are 1400+ reports in the GBAM inventory and regional governance routines need to be evaluated to ensure efficient monitoring of relevant non-

financial regulatory reports.

Roles and Responsibilities

  • Design / build Quality Assurance function for testing the Completeness, Accuracy and Timeliness of the NFRR reports in scope
  • Perform independent testing of NFRR reports to assess the Completeness, Accuracy and Timeliness
  • Perform governance routines to support the NFRR inventory
  • Understand the front to back flow of key processes and determine key areas requiring testing
  • Remain current on the Regulatory Reporting landscape to ensure the firm’s reporting remains in sync with changes in regulatory environment
  • Ensure documentation is being maintained in accordance with the processes and standards set out
  • Assess the overall design and operational effectiveness of the existing QA process
  • Take ownership for managing risk well and be proactive in identifying and controlling risks, issues and concern. Track and highlight issues, gaps, concerns and process failures for remediation
  • Work closely with LOB partners to understand processes and risks
  • Interactions with various stakeholders, including senior management
  • Escalate issues in a timely manner
  • Produce PowerPoint presentations
  • Experience Range

    6 to 9 years of overall experience with at least 12 months of Regulatory Reporting experience

    Mandatory skills

  • Excellent analytical and problem solving skills, ability to demonstrate decisiveness and sound sense of judgment, knowing when to escalate
  • Excellent verbal and written communication skills.
  • Knowledge of various regulation like EMIR. MiFID, Dodd Frank, CFTC, FINRA etc.
  • Attention to detail, delivering high quality output
  • Ability to work well with and communicate with others, from teammates to executives
  • Ability to juggle multiple work efforts and to quickly change direction as needed
  • Strong influencing and interpersonal skills
  • Should be a team player with strong execution focus
  • Good project management skills
  • Adapts to changes and has a proven track record of working as part of a global team
  • Excellent knowledge of MS Office application like word, Excel and PowerPoint
  • Presentation skills, able to summarise messages
  • Desired skills

  • Prior Investment Banking experience in Regulatory Reporting process or Operations Risk & Control
  • Good understating of regulation like EMIR. MiFID, Dodd Frank, CFTC, FINRA etc.
  • Knowledge of VB script and building macros would be an added advantage
  • Global Markets Product Knowledge would be an added advantage
  • Work Timings

    Flexible shifts and weekend off

  • APAC 7.30 to 16.30
  • EMEA 12.30 to 21.30
  • US / LATAM 17.30 to 2.30
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