Job Description:
Job Title: Regulatory Reporting Controller II
Corporate Title: Assistant Vice President
Location: London
Company Overview:
At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We do this by driving Responsible Growth and delivering for our clients, teammates, communities, and shareholders every day.
Being a Great Place to Work is core to how we drive Responsible Growth. This includes our commitment to being a diverse and inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.
At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!
Location Overview:
Our London office is based just a stone’s throw from the magnificent St. Paul’s Cathedral on bustling King Edward Street. Here you’ll find modern workspaces and a state-of-the-art auditorium space. We also have an onsite restaurant committed to sustainability with seasonal menus, a rooftop terrace with spectacular views, an onsite gym, and a medical centre.
The Team:
Global Regulatory Reporting, part of Global Financial Control, is located in the US, UK, Ireland, France, and India. The EMEA team in Europe and India consists of over 50 people and is expanding. The team handles regulatory deliverables, projects, and provides capital adequacy impact analysis to various stakeholders, including Front Office groups, risk management, model developers, and strategic project groups.
Responsibilities:
This role is within the EMEA Regulatory Reporting team and includes:
1. Implementing FRTB rule changes and updates for capital requirements and external reporting, including model and system testing.
2. Preparing and reviewing UK and EU capital calculations and reporting for three prudentially regulated entities, including RWA calculations and reporting across UK, France, and Ireland.
3. Reviewing daily RWA calculations for senior management to support management of UK and EU entities.
4. Collaborating with Front Office, market risk, model developers, and other groups on capital management and RWA efficiencies.
5. Partnering with internal stakeholders such as Risk, Internal Audit, and Compliance.
6. Leading the team in identifying and resolving process issues affecting Capital Reporting.
7. Supporting system development initiatives to improve efficiency, controls, and support changing rules.
8. Contributing to infrastructure projects by defining data, calculation, and reporting requirements.
9. Overseeing UK and EU capital calculations and reporting for three entities.
10. Producing quarterly COREP and other disclosures, including manual adjustments, reconciliations, and variance analysis, and presenting results to management.
Qualifications:
* Qualified Accountant, CFA, or equivalent, or relevant degree/experience.
* Extensive experience in prudential regulatory reporting within an international financial institution.
* Knowledge of EU and UK regulatory frameworks, especially FRTB market risk and CVA.
* Experience with CoRep and Pillar 3 disclosures.
* Understanding of Market risk management concepts and product knowledge.
* Basic understanding of market conventions, underlying assets, and reference data impact.
* Familiarity with pricing models and their impact on FRTB/CVA calculations.
* Ability to interpret regulatory requirements for technical implementation.
* Strong analytical skills and ability to analyze risk drivers and variance in capital requirements.
* Effective communication skills, both written and verbal.
* Control-focused mindset and a self-motivated, team-oriented approach.
* Willingness to learn and research.
* Proficiency in Excel, especially with large datasets.
* Good time management and ability to meet multiple deadlines.
Preferred Skills:
* Experience with Axiom or other regulatory calculation solutions.
* Knowledge of Alteryx, Tableau, and similar tools.
Benefits:
UK:
* Private healthcare, annual health screening, and options for partner coverage.
* Competitive pension, life assurance, and income protection.
* Childcare and adult care support.
* Flexible benefits including wellbeing accounts, travel insurance, and critical illness cover.
* Emotional wellbeing support and virtual GP services.
* Employee Assistance Program and charitable donation matching.
* Access to arts, culture programs, and community volunteering opportunities.
Our Values:
We emphasize good conduct, sound judgment, and individual accountability. We are committed to diversity and ensure our recruitment processes are accessible and fair, encouraging candidates to share any adjustments needed.
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