Finance Team Leader - Regulatory Reporting & Accounting

Team Leader

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 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*

This Team Leader role involves accounting, month end close, US regulatory reporting and US fed & SEC reporting. The individual will be part of a team responsible for legal entity control activities including management of financial close, supporting certain aspects of regulatory reporting and OPEX initiatives

Responsibilities*

Include but not limited to:

• Accountable for various day to day responsibilities of the finance function including accounting processes and reporting, month-end close, audit closure, regulatory reporting, management reporting and variance analysis, local GAAP reporting, etc.
• Develop a reasonable understanding of P&L and balance sheet; proactively identify, investigate, and escalate/correct anomalies
• Determine appropriate GAAP accounting treatments and ensure accurate and timely accounting entries
• Good general understanding of various key US Reg regulations with ability to interpret instructions and guidance from the regulators
• Responsible for fulfilling statutory and regulatory reporting requirements, including reports and presentations to senior management /regulators as required
• Support internal and external audits through process walkthroughs, documentation, and audit issue closure
• Identify, assess, and escalate control gaps, errors, and operational inefficiencies; recommend corrective actions with respect to the scope of work handled
• Assist in implementing change management in the finance area, through enhancements of reporting processes and structure, streamlining of reporting responsibilities and automation of regulatory reporting
• Support on Systems Implementation
• Support achievement of business goals by working on complex activities or projects with others within the team and with various business partners
• Develop a smooth working relationship with multiple stakeholders

Requirements*

Education*

CA / CWA/ACCA/CPA/ MBA Tier II with experience in Controllership

Experience Range*

0 to 2 years of experience in finance, accounting, regulatory reporting

Foundational skills*

• Strong Accounting Standards Knowledge
• Exposure to International Accounting & Reporting Standards (US GAAP’s, FAS, IFRS)
• Strong organization and time management skills
• Able to work in a fast paced, deadline-oriented environment
• Strong understanding and an aptitude for technical and project work
• Proficient in the use of Excel, Word and MS Access
• Excellent written and verbal communication skills are necessary as the position requires global correspondence and communication with associates throughout the Bank of America footprint

Desired skills                                                                                                                                          

• Strong computer skills (advanced excel and macro/access) and Oracle/SAP experiences are preferred
• Skillset with Emerging Technologies like Alteryx, Tableau, Workiva, etc. will be preferred
• Good knowledge of financial / banking products (derivatives, swaps, interest, bonds, credit, etc.)
• Exposure to US regulatory reports applicable to Subsidiaries and branches outside US will be desirable

Work Timings*

07:30 AM to 9:30 PM (9 hours shift, may require stretch during close period)

Job Location*

Gurugram/Mumbai

Experience Level

Senior Level