Assistant Manager

Assistant Manager

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. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.

Being a Great Place to Work and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates’ physical, emotional, and financial wellness through affordable, competitive and flexible benefits.

We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve.

Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs.

At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. 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 Financial Control India is part of the CFO Global Delivery strategy to provide offshore delivery to Line of Business and Enterprise Finance functions. The capabilities hosted include General Accounting & Reconciliations, Legal Entity Controllership, Management Reporting & Analysis, Finance Systems Support, Operational Risk and Controls, Regulatory Reporting and Strategic initiatives.

 

Job Description*

Regulatory Reporting

The Global Regulatory Reporting (GRR) team is part of the CFO-Global Financial Control organization.  Our purpose is to drive high-quality regulatory reports through operationally efficient control processes and system solutions to support the production of various regulatory reports as required by the Federal Reserve, OCC, FDIC and other regulators.  The group works closely with business and finance units across the organization to gather, analyze and report information under regulatory definition and requirements.

Regulatory Reporting team is organized around the types of reports filed and projects group; Key report categorizations include Cross Border, Call & Capital, Non-Bank Subsidiary reporting, Broker dealer reporting teams and projects group.

• The Cross Border reports include reports submitted to Fed (FFIEC 009, FR 2510 etc.) and also to the US treasury (TIC reports)

• The Call team files FFIEC 031/FFIEC 041 and FRY 9C to the Federal Reserve Board. These reports collect basic financial data of commercial banks in the form of a balance sheet, an income statement, and supporting schedules. The Report of Condition schedules provide details on assets, liabilities, and capital accounts. The Report of Income schedules provide details on income and expenses.

• The NBS Reporting team - reports on assets, liabilities and Off-balance sheet items for the Non-Banking Subsidiaries of the bank domiciled in US and Outside US.

• Broker dealer reporting team– Supports daily and monthly activities to ensure compliance with Regulation 15c3-3 and 15c3-1

• EMEA reporting team (FINREP, AnaCredit, Statistical and COREP) team supports daily, monthly and quarterly submissions to the EMEA regulators

 

Responsibilities*

GRR is seeking a highly motivated individual seeking to expand their knowledge and expertise. The candidate will be responsible for preparation and/or review of regulatory reports/schedules/support tasks, documentation, interpretation and communication of regulatory reporting requirements, and maintenance of reporting data dictionaries.  The scope of the data dictionary includes reporting requirements as prescribed in Regulatory instructions and other regulatory guidance and definitions of data attributes/elements utilized in reports; mapping of source data files from data providers to reportable lines on the schedules; data provider documentation, gap analysis, logging of issues and sign off/approvals from key business partners.  Manage communication and relationships with our business partners to ensure consistent documentation and understanding of reporting requirements.  Assist in issue evaluation efforts including identification, remediation, monitoring and escalation activities.  This role will be focused on key banking products including but not limited to loans, deposits, derivatives, securities and trading assets.

The successful candidate will join a dynamic environment that offers numerous opportunities to learn, grow, impact and drive changes for the Company. In particular, the candidate will:

• Ensure timely completion of tasks and/or submission of schedules/reports as allocated including review as required
• Responsible for maintaining and ensuring completeness of process work papers and related documentation
• Reporting in compliance with the US GAAP and regulatory requirements
• Variance analysis, ensuring compliance with FED requirements.
• Drive and support Audit/Regulatory examination/Identify and remediate SIAI/AIAIs etc.
• Independently handle reviews/calls with the senior management, Audit, Regulators etc.
• Proficient with working on various systems and applications and understanding the data flows in the context of specific product domains viz. securities, investments, derivatives etc
• Work closely with teams across the organization including Enterprise Stress Test, Lines of Business, Operations & Technology, Risk, Compliance, Financial Controls and Oversight, and other GFC (Global Financial Control) teams to resolve regulatory reporting issues.
• Be a quick learner and possess intellectual curiosity and proactively investigate issues
• Strive for quality and accuracy and have the dependability necessary to meet strict quarterly deadlines
• Pay rigorous attention to compliance procedures

 

Requirements*

Education*

CA/CWA/ CPA /MBA (Finance)

Certifications If Any

 

Experience Range*

2-3 years of total experience in Banking. Regulatory Reporting experience preferred.

 

 Foundational skills*

• Strong Accounting and reporting skills
• US regulatory Report preparation experience viz FR Y-9C, FFIEC 031, FR 2900, FR 2915, FR 2590, FR 2510, FFIEC 009, FR Y-14Q, FR Y-14M, Summary of deposits report, FDIC Reports, FINREP, AnaCredit, Statistical, COREP reports etc.
• Strong understanding of the reporting instructions
• Proficiency in Axiom- Regulatory Reporting application
• Basic SQL to fetch data from the data source
• Excellent communication skills
• Ability to understand the financial statements pertaining to Banking Industry
• Strong analytical skills with strong time management skills.
• Having good exposure to MS office including MS Word, Advanced Excel (including VBA) and Power point.
• Team player

 

Desired skills

• US GAAP knowledge is preferred
• Alteryx, Tableau, SQL, Power BI
• Understanding of Banking products like Deposits, Loans and Leases, Securities, Derivatives & commitments

 

Work Timings*

11.30 AM to 12.30 AM (13-hour window – 9-hour shift), Stretch basis report requirements and US Stakeholder support needs

 

Job Location*

Mumbai

Experience Level

Mid Level