Regulatory Reporting Consultant-Collateral Operations-Global Market Operations
Company: Disability Solutions
Location: Chicago
Posted on: October 24, 2024
Job Description:
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
- Establish and 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 ExcelSkills:
- Problem Solving
- Reporting
- Attention to Detail
- Critical Thinking
- Data Quality Management
- Prioritization
- Risk Management
- Analytical Thinking
- Data Mining
- Decision MakingShift:1st shift (United States of America)Hours
Per Week: 40
Keywords: Disability Solutions, Elkhart , Regulatory Reporting Consultant-Collateral Operations-Global Market Operations, Advertising , Chicago, Indiana
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