Quality Assurance Lead for Global Regulatory Reporting - US

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:

Responsible for providing risk oversight and advice and counsel to the LOB.  Establish risk management policies, limits, standards, controls, metrics and thresholds within the defined corporate standards.  Ability to recognize all risk categories including credit, market, operational and compliance and bringing appropriate risk expertise as needed.  Accountable for conducting execution of risk framework activities including, but not limited to, independent monitoring and testing of controls and risk management processes for the LOB. Establish and oversee the risk management governance structure for the LOB.

This role aligns to the Global Regulatory Reporting (GRR) Team within the CFO Global Financial Control (GFC) department. GRR’s purpose is to drive high quality regulatory reports through operationally efficient processes to support the production of various regulatory reports as required by Regulatory authorities. The primary responsibility for this role is to build and manage the Quality Assurance (QA) function for GRR-US. This individual would lead a matrix team across locations and will work closely and regulatory reporting Subject Matter Experts (SMEs). The role will have responsibility for reviewing GRR’s end to end processes to perform independent QA testing activities (e.g.. Controls, Conformance, Data Profiling testing) to ensure accurate and well-controlled reporting. The QA team will rotate through GRR’s submissions and will be expected to identify, define, and implement Operational Excellence opportunities.

Responsibilities:

• Plan, coordinate and manage the day-to-day execution of the Global Regulatory Reporting In-Line Quality Assurance program and develop a sustainable operating model, including coverage for US regulatory reports

• Create intake process and prepare test calendar, including risk assessment methodology, resource plans, test schedule for internal socialization and approval with Report Owners and GRR Executives  

• Establish a standardized, scalable approach for test setup, scoping, sample selection that can be replicated each test cycle  

• Create a detailed inventory of test scripts for each test type to verify accuracy, consistency and completeness of GRR’s end to end reporting production process

• Execute pre and post-submission test plans and publish test results within defined SLAs

• Develop standard approach to validate and publish test findings, including thematic observations and repeat errors

• Establish metrics to monitor performance, success criteria and results of the in-line QA program 

• Identify opportunities to deliver continuous improvement to scale program and deploy use of advanced technologies to drive efficiency and growth 

• Develop/maintain integrated workplans, create executive status reports and other executive presentations/reporting and track program progress

• Communicate, influence and negotiate both vertically and horizontally to obtain partnership and engagement required to deliver program deliverables

• Represent the program in various governance and inter-department forums, as appropriate

Managerial Responsibilities:

This position may also have responsibilities for managing associates. At Bank of America, all managers at this level demonstrate the following responsibilities, in addition to those specific to the role, listed above.

• Diversity & Inclusion Champion: Models an inclusive environment for employees and clients, aligned to company D&I goals.

• Manager of Process & Data: Demonstrates deep process knowledge, operational e