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Senior Regulatory Reporting Controller in London – drive FRTB transition and operational excellence at Bank of America.
Lead market‑risk calculations, stakeholder engagement and automation in a dynamic finance team.
Job Title : Senior Regulatory Reporting Controller
Corporate Title: Director
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. 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.
Application Process
We recruit at regular intervals over the year across different locations. By applying to this advert, you are submitting your details to be considered, for either current or future opportunities, subject to your skills and experience.
To register your interest please click on the apply button.
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. In addition, we’re proud to host an onsite restaurant that shares our commitment to sustainability by providing delicious seasonal menus which have been created with the planet in mind.
Make sure to take time for yourself and head up to our rooftop terrace and take in the spectacular views across London. Finally, your physical wellness is well‑catered for with our onsite gym facilities and medical centre.
Introduction:
Global Regulatory Reporting is responsible for ensuring efficient and proactive management of economic and regulatory capital, and delivering timely and accurate reporting to regulators across EMEA. The team based in Europe with hubs in London, Dublin and Paris with off shore support from India.
The Business Operational Readiness and Operational Excellence team within Global Regulatory Reporting have a remit to look for synergies, improve processes, drive towards global best practice and increase automation across the group in additional to delivering operational readiness for major new regulatory requirements for the firm.
The candidate will join the Finance department in London as part of the Business Operational Readiness and Operational Excellence team, working on the FRTB program which is the Market Risk element of BASEL 3 the regulation written in response to the Financial Crisis.
This team provides a critical link between the change and IT functions and the business stakeholders to ensure the new regulation being delivered is successfully embedded into the Reporting teams daily activities.
Responsibilities:
The successful candidate will be responsible for delivering a successful transition to BAU across all aspects of FRTB.
The candidate will be joining an in flight program that has been running for several years at the point of transition from building capabilities to testing capabilities and delivering a Parallel run.
FRTB is delivering new calculations for Market risk to replace current Basel 2.5 rules so the candidate will gain exposure to all elements of the calculation SBA, DRC, RRAO, SA-CVA, BA-CVA
The candidate will be part of the team responsible for all elements of the FRTB calculation within the parallel run, root cause analysis and delivery of automation to achieve operational readiness for go live
Deep knowledge of Front office and up stream operational systems will be of benefit as majority of issues encountered which need to be investigated are not within the calculations themselves but within the data or complex process that has led to the calculation.
What we’re looking for :
In depth knowledge of all elements of FRTB as well as understanding of regulatory differences across countries
Proven experience working across multiple areas within Financial Services, Finance, Risk Management or Operations
Ability to manage senior stakeholder relationships and provide leadership updates
Strong analytical abilities and inquisitive mindset to identify root cause
Strong project management experience structuring and delivering complex initiatives
Extensive experience within an off shoring operating model
Strong written and verbal communication skills
Skills that will help:
- Prior experience working within Agile methodologies / frameworks
- Experience of working within a rapidly changing environment where priorities may change quickly
- Understanding of high profile regulations (FinRep, CoRep, AnaCredit etc)
- Experience of working within challenging and dynamic organisational contexts
Benefits
- UK Private healthcare for you and your family plus an annual health screen to help you manage your physical wellness with the option to purchase a screen for your partner
- Competitive pension plan, life assurance and group income protection cover if you become unable to work as a result of a disability or health reasons
- 20 days of back-up childcare including virtual tutoring and 20 days of back-up adult care per annum
- The ability to change your core benefits as well as the option of selecting a variety of flexible benefits to suit your personal circumstances including access to a wellbeing account, travel insurance, critical illness etc
- Use of a flex fund to use towards benefits
- Access to an emotional wellbeing helpline, mental health first aiders and virtual GP services
- Ability to donate to charities of your choice directly through payroll and the bank will match your contribution
- Opportunity to access our Arts & Culture corporate membership programme and receive discounted entry to some of the UK and Ireland’s most iconic cultural institutions
- Opportunity to give back to your community, develop new skills and work with new groups of people by volunteering in your local area
Good conduct and sound judgment is crucial to our long term success. It’s important that all employees in the organisation understand the expected standards of conduct and how we manage conduct risk. Individual accountability and an ownership mind-set are the cornerstones of our Code of Conduct and are at the heart of managing risk well.
We are an equal opportunities employer, and ensure that no applicant is subject to less favourable treatment on the grounds of gender, gender identity, marital status, race, colour, nationality, ethnic or national origins, age, sexual orientation, socio-economic background, responsibilities for dependants, physical or mental disability. The Bank selects candidates for interview based on their skills, qualifications and experience.
We strive to ensure that our recruitment processes are accessible for all candidates and encourage any candidates to tell us about any adjustment requirements.