Campus Pride Jobs

Regulatory Reporting Consultant-Collateral Operations-Global Market Operations

Chicago, Illinois

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:

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:

Here is an opportunity to learn about a variety of traded products, while helping design and automate reports that are distributed to senior level leadership at Bank of America. We are looking for a self-starter, who is curious and analytical, and enjoys the challenge of being a problem solver.

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

• Establishand 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

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.