Financial Reporting Specialist
4 days ago
Company Overview:
Bank of America is a leading financial institution committed to helping its clients achieve their financial goals. With a strong presence in the global market, the company offers a wide range of financial products and services.
Job Description:
We are seeking a highly skilled Financial Reporting Specialist to join our EMEA Regulatory Reporting team. As a key member of the team, you will be responsible for overseeing the EU and UK capital calculations and reporting of 3 prudentially regulated entities.
- Responsibilities:
- Helping to oversee the EU and UK capital calculations and reporting of 3 prudentially regulated entities
- The team carries out all of the standardised and internal model RWA calculations and reporting across UK, France and Ireland
- Captial calculations/analysis - Review daily/weekly RWA calculations to be incorporated in the capital adequacy status sent out to senior managers to support management of UK and EU entities
- External Regulatory Reporting and Disclosures – Produce the quarterly returns including manual adjustments, reconciliations, period on period variance analysis for UK and EU entities, presenting these results to management
- Support the Capital Reporting process (both internally and externally), in particular the preparation of Credit Risk
- 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
- Keep up to date with applicable regulatory reporting requirements
- 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
- Continuously assess and enhance regulatory reporting processes, improving the quality of our regulatory submissions and identifying new approaches to improve efficiencies
- Contributing to Governance process, operational error reporting, documentation and EUC controls, and support of other internal control process
- Assist with ad hoc projects which are expected to include a diverse range of projects including implementation of new regulatory reporting requirements and strategic regulatory reporting infrastructure
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