Job Description
Job Description:
About us
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!
Global Business Services
Global Business Services delivers Technology and Operations capabilities to Lines of Business and Staff Support Functions of Bank of America through a centrally managed, globally integrated delivery model and globally resilient operations.
Global Business Services is recognized for flawless execution, sound risk management, operational resiliency, operational excellence and innovation.
In India, we are present in five locations and operate as BA Continuum India Private Limited (BACI), a non-banking subsidiary of Bank of America Corporation and the operating company for India operations of Global Business Services.
Process Overview
Global finance control (GFC) team 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 Regulatory Reporting, Accounts Payable, General Accounting & Reconciliations, Management Reporting & Analysis, Research & Analytics, Financial Transaction Processing and Finance Systems Support
Finance Data Management team enables the Finance Organization and supports data needs of finance business users
The Finance Data Management team is involved in various activities (including, but not limited to):
a) Regulatory Reporting related data management Activities: Team support activities related to US and EMEA Regulatory reports (FR Y14M, FFIEC 00+, FR Y+C, Corep, Finrep, Anacredit etc). Team is engaged in activities such as validation of data for regulatory reports, data quality issue resolution, data reconciliation with authoritative sources and posting adjustments. Team actively works on strategic initiatives aimed at improving the quality of numbers reported in regulatory reports
b) Data Sourcing and provisioning: This includes defining and implementing data provisioning strategy to source the data from all lines of business into regulatory reports and management reports. Team is actively involved in sourcing initiatives where it works with various source systems, technology teams and report owners to source the data into regulatory reports as per regulator and stakeholder requirements
Job Description
Individual will be a contributing member of the CFO Data Management Controls team focusing on implementing and executing controls for data that feeds into US/EMEA regulatory reports required by regulators such as FRB, OCC (in US), Prudential Regulatory Authority, Bank of England and Central Bank of Ireland (in UK). Individual will be engaged in activities like data validation, issue analysis, issue remediation and testing by utilizing his/her knowledge of such reg reports and working with stakeholders. Individual will be executing controls on data required for measuring market risk and various capital related regulations around computing capital charge for market risk. Individual should be familiar with different approaches required for setting aside capital for market risk. Individual should be familiar with market risk concepts and will be required to analyze such data to a granular level and make necessary adjustments if required for accurate regulatory reporting
Responsibilities
• Supporting Global Finance strategic initiatives such as managing projects related to resolving data quality issues in US/EMEA regulatory reports
• Data validation and reconciliation for market risk related data required as per Fundamental review of trading book (FRTB)
• Should understand how data is populated in regulatory reports
• Support sourcing of data into regulatory reports
• Working on related issue resolution and research activities
• Manage relationship with Business/Onshore partners
• Data validation of regulatory reports data & reconciliation of data with authoritative sources
• Be able to understand/ interpret SQL queries used to fetch regulatory reports data
• Work on change management efforts and lead strategic initiatives in order to get the data quality and reporting numbers right
• Continually identify process improvement opportunities
Requirements
Education
Good Finance background (Commerce graduate/Finance Post Graduates preferred)
Certifications If Any NA
Experience Range
0-2 years
Foundational skills
• Ability to analyze trade data for gaps/ recon breaks/ control failures and perform data adjustments
• Ability to facilitate daily data validation process
• Ability to independently communicate with stakeholders
• Demonstrate ability to work in a fast-paced, every-changing, highly collaborative environment
• Good written and verbal communication skills
Desired skills
• Understanding of US/EMEA regulatory reporting
• General ledger reconciliation experience
• MS Excel/ SQL knowledge
Work Timings
11:30 AM - 8:30 PM
Job Location
Mumbai
About us
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!
Global Business Services
Global Business Services delivers Technology and Operations capabilities to Lines of Business and Staff Support Functions of Bank of America through a centrally managed, globally integrated delivery model and globally resilient operations.
Global Business Services is recognized for flawless execution, sound risk management, operational resiliency, operational excellence and innovation.
In India, we are present in five locations and operate as BA Continuum India Private Limited (BACI), a non-banking subsidiary of Bank of America Corporation and the operating company for India operations of Global Business Services.
Process Overview
Global finance control (GFC) team 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 Regulatory Reporting, Accounts Payable, General Accounting & Reconciliations, Management Reporting & Analysis, Research & Analytics, Financial Transaction Processing and Finance Systems Support
Finance Data Management team enables the Finance Organization and supports data needs of finance business users
The Finance Data Management team is involved in various activities (including, but not limited to):
a) Regulatory Reporting related data management Activities: Team support activities related to US and EMEA Regulatory reports (FR Y14M, FFIEC 00+, FR Y+C, Corep, Finrep, Anacredit etc). Team is engaged in activities such as validation of data for regulatory reports, data quality issue resolution, data reconciliation with authoritative sources and posting adjustments. Team actively works on strategic initiatives aimed at improving the quality of numbers reported in regulatory reports
b) Data Sourcing and provisioning: This includes defining and implementing data provisioning strategy to source the data from all lines of business into regulatory reports and management reports. Team is actively involved in sourcing initiatives where it works with various source systems, technology teams and report owners to source the data into regulatory reports as per regulator and stakeholder requirements
Job Description
Individual will be a contributing member of the CFO Data Management Controls team focusing on implementing and executing controls for data that feeds into US/EMEA regulatory reports required by regulators such as FRB, OCC (in US), Prudential Regulatory Authority, Bank of England and Central Bank of Ireland (in UK). Individual will be engaged in activities like data validation, issue analysis, issue remediation and testing by utilizing his/her knowledge of such reg reports and working with stakeholders. Individual will be executing controls on data required for measuring market risk and various capital related regulations around computing capital charge for market risk. Individual should be familiar with different approaches required for setting aside capital for market risk. Individual should be familiar with market risk concepts and will be required to analyze such data to a granular level and make necessary adjustments if required for accurate regulatory reporting
Responsibilities
• Supporting Global Finance strategic initiatives such as managing projects related to resolving data quality issues in US/EMEA regulatory reports
• Data validation and reconciliation for market risk related data required as per Fundamental review of trading book (FRTB)
• Should understand how data is populated in regulatory reports
• Support sourcing of data into regulatory reports
• Working on related issue resolution and research activities
• Manage relationship with Business/Onshore partners
• Data validation of regulatory reports data & reconciliation of data with authoritative sources
• Be able to understand/ interpret SQL queries used to fetch regulatory reports data
• Work on change management efforts and lead strategic initiatives in order to get the data quality and reporting numbers right
• Continually identify process improvement opportunities
Requirements
Education
Good Finance background (Commerce graduate/Finance Post Graduates preferred)
Certifications If Any NA
Experience Range
0-2 years
Foundational skills
• Ability to analyze trade data for gaps/ recon breaks/ control failures and perform data adjustments
• Ability to facilitate daily data validation process
• Ability to independently communicate with stakeholders
• Demonstrate ability to work in a fast-paced, every-changing, highly collaborative environment
• Good written and verbal communication skills
Desired skills
• Understanding of US/EMEA regulatory reporting
• General ledger reconciliation experience
• MS Excel/ SQL knowledge
Work Timings
11:30 AM - 8:30 PM
Job Location
Mumbai
💡 Quick Summary
Seeking a career-building opportunity? The Bank position is now open for candidates interested in the Bank Jobs sector. This role in Mumbai offers a professional environment and growth potential.
Requirement Snapshot: Candidates should possess basic communication skills, a proactive attitude, and the ability to work in a team. Experience in Bank Jobs is a plus.
