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
Non-Financial Regulatory reporting (NFRR) is a key Bank of America enterprise wide initiative to build robust control for delivery of NFRR reporting. GBAM NFRR Control & Delivery teams are responsible to oversee implementation of controls and report NFRR related risks on a real time basis to regional steercos Senior management
As part of the Bank of America key initiative the NFRR Program, the incumbent will be an integral part of the NFRR Control & Delivery team for implementing Controls for effective adherence towards the Enterprise Data Management (EMD) standards that govern the delivery of Non-Financial Regulatory reporting across the globe. The team is multi-disciplinary in nature dealing with identifying risk hotspots, defining a new governance process and at the same time stabilizing and running the governance functions. The NFRR team will offer an opportunity to work in an emerging, yet high focus area within the bank.
This incumbent will be required to work out of BA Continuum India Ltd (A Non-Banking Subsidiary of Bank of America) which has more than 18,000 employees working across offices in Gurugram, Mumbai, Hyderabad and Chennai
Job Description
NFRR Control & Delivery function is responsible for implementing effective controls for NFRR reports in GBAM. The primary responsibility will be monitoring of adherence of Enterprise Data Management - Data USE standard for all NFRR reports. The function enforces controls on the NFRR Inventory metadata, monitor Production Health of the reports and track and report production health breaches and regulatory inquiries. Strong communication and judgement skills with exposure towards Global Markets / Banking products is required. Role has constant interaction with 4-deep level stakeholders and produce high quality data analysis and presentation that will be presented to the regional steerco. Therefore ability to analyse and interpret data /information provided to identify anomalies, if any and a high level of
attention to detail are essential.
Responsibilities
As a member of NFRR Control and delivery team the following are the high level responsibilities expected to be performed by the candidate selected for this role:
- Primary responsibility is to establish in GBS India, the new NFRR Production Health monitoring function in the NFRR PMO's Control & Delivery team
- Reviews NFRR Report's reported data quality issues, perform analysis, track fixes, and/or report timely any breaches of thresholds to Report Owners, Regional steerco, and communicate if/when needed to Enterprise Data Management's (EDM) NFRR Center
- Tracks resolution or remediation of data / control issues identified by via Audit issues or Data incidents (eDIMs)
- Manages, executes and tracks data quality remediation plans in coordination with all stakeholders
- Collects and updates business metadata and references data for the regional NFRR reports he/she is assigned
- Present monthly status updates in the NFRR Regional steerco, with updates and action plans, where relevant
- Highlight and escalate any potential slippages in breach resolution timelines
- Work with Report preparers and their managers to ensure Audit issues and/or Data incident (eDIM) tickets are raised with appropriate action plans for the NFRR production breaches
- Additionally inquiries from regulators that are to be responded by Report preparers will need to be tracked to closure and report the status of the same to the Report owners, and Regional NFRR Governance steerco
- Develops and maintains dashboards related to NFRR Data Governance for the Regions
- Provides training and data assistance as needed to report preparers and other stakeholders
- Own the NFRR Inventory for GBAM EMEA region thereby implement controls to ensure all new reports are correctly owned by business owners, operations and compliance and any changes are appropriately authorized by appropriate approvers
- Communication skills are crucial for this role that demands interactions with 3-deep and 4-deep stakeholders on a day to day basis. Strong email communication skills are required ensure crisp clear communication with Senior management across GBAM Ops and Front office, on a regular basis
- This role requires learning to build a good grasp of NFRR governance framework and EDM Data Use standard to perform the function
- Given these are set of new processes being setup, there is ample scope to define the process as it is being established and improvise. The candidate will have potential to own multiple control aspects related to NFRR Governance for a region
Requirements
- Education: CA or an MBA from premier institute is desired
- Certifications If Any N.A
- Experience Range 08-12 years
Foundational Skills
- Exposure to Enterprise Data Management is a bonus
- Advanced Excel skills to analyse and present data.
- Experience in documentation or PPT skills to make presentations
- Display the drive to proactively identity risk hotspots and to escalate items appropriately before they become issues
Desired Skills
- Job requires interacting with Senior stakeholders and good email / phone communication skills are essential
- Experience in Operations risk and/or Business Analysis is preferred
Work Timings: 12:30 20:30
Location :Hyderabad
