Bank of America Hiring for Assistant Vice President at Mumbai, Maharashtra, India Full Time

Job Description

: Overview (Bank overview, GBS India overview, Function Overview)* Bank of America is one of the world’s leading 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. 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. We are a part of the Global Business Services which delivers technology and operations capabilities to all Bank of America lines of business (LOB) and enterprise functions. 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 individuals, businesses and institutional investors we serve worldwide.

• BA Continuum is a nonbank subsidiary of Bank of America, part of Global Business Services in the bank.

Process Overview* Global Financial Control India (GFC India) was set up in 2007 as a part of the CFO Global Delivery strategy to provide offshore delivery to Line of Business and Enterprise Finance functions. The capabilities hosted include Legal Entity Controllership, General Accounting & Reconciliations, Regulatory Reporting, Operational Risk and Control Oversight, Finance Systems Support, etc. CFO-ORCO team is responsible to provide governance and oversight to effectively manage Operational Risk across the CFO Organization. * The Conformance & Transaction Review Program (CTRP) is responsible for testing high risk regulatory reports such as FR Y-14, FR Y-9C, 12, 15, FFIEC 031/041, 009, 101, 102, etc. to identify and report any material errors, omissions and control weaknesses in preparation of these key reports, such that these issues are formally raised and remediated towards improving the data quality. This position will work closely with some of the key stakeholders in Front Line Units as well as with the regulatory reporting teams to execute the enterprise-wide framework, methodology, procedures/guidelines for CTRP. This position will interact with various levels of management, drive process improvements, and gain exposure to a wide variety of the Company’s businesses as part of an expanding CTRP. Responsibilities* ORCO CTRP AVP role includes, but is not limited to the following responsibilities:

• Play a leadership role in Program Management including drafting annual testing plans and priorities, take responsibility for front-ending the relationship with Line of Business Team, and further build / expand the Program capabilities
• Work closely with Front Line Units as well as with regulatory reporting teams to execute the enterprise-wide framework, methodology, procedures/guidelines for Conformance & Transaction Review Program
• Define and refresh the Schedule/Line and Element Prioritization methodology, test
• Coordinate with regulatory reporting and business teams to obtain reports, code / logic or other documents required for review and testing
• Execute data quality review for FRY 14Q/M and other regulatory reports, including but not limited to FRY 9C, 12, 15, FFIEC 031/041, 009, 101, 102
• Document review observations and perform root cause analysis
• Prepare reports on review results, status and metrics
• Create & present documentation package documentation that summarizes the results from all components of testing
• Stay current on latest FRB requirements and guidance on key regulatory reports
• Build strong QA rigor in the process and ensure its ongoing sustainability
• Drive continuous program improvements
• Supervise a team of employees or act as individual contributor towards achieving all the above objectives – train / guide / coach team members

Requirements* Education* CA / CPA or MBA from a premier institute Experience Range* 11+ years experience Foundational skills*

• 11+ years of experience in financial statement reviews or audits with focus on regulatory reporting, including preparing, auditing, reviewing or conducting transaction-level data quality reviews of the regulatory reports
• Good understanding of US Regulatory Reporting for Banks and Federal Reserve Board requirements
• Experience in preparation or review of key financial and US regulatory reports (e.g. FR Y-9C, FR Y-14Q/M, 14A, FFIEC 101, FR-Y-11/2314, FFIEC 009 etc) would be preferred
• Good knowledge of banking products – Wholesale Banking, Mortgage Lending, Consumer Lending, Trading Products
• Good understanding of system linkages and data flows
• Strong computer skills (advanced excel and macro/access), Oracle/SAP experiences. Exposure to emerging technologies & SQL is desirable
• Proven experience in managing and developing teams
• Self-motivated, operates with a sense of urgency and strong attention to detail
• Ability to engage/ collaborate with management at various levels and work effectively in a matrixed environment
• Strong relationship management skills to navigate the complexities of aligning stakeholders, building consensus and resolving conflicts in a large, distributed organization; proven ability to influence peers/stakeholders and other leaders across various lines of business
• Proven ability to manage multiple and often competing priorities in a global environment
• Ability to drive strategic initiatives with a track record of successful change management
• Excellent written and verbal communication skills
• Ability to effectively manage multiple priorities and deliver as well as being able to adapt to changes
• Able to work in a fast paced, deadline oriented environment

Desired skills

• Prior experience in Audit, Financial Reporting or Finance Data Management Organizations
• Ideal candidate should have a general comprehension of both GAAP and Regulatory Reporting for large banks

Work Timings* 11:30 am to 8:30 pm Job Location* Mumbai Job Band: H5 Shift: Hours Per Week: 45 Weekly Schedule: Referral Bonus Amount: 0