Regulatory Reporting Controller II

Job Description:

Job Title: Regulatory Reporting Controller II

Corporate Title: Assistant Vice President

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

Being a Great Place to Work is core to how we drive Responsible Growth. This includes our commitment to being a diverse and inclusive workplace, attracting and developing exceptional talent, supporting our teammates' physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.

At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us.

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.

The Team:

Global Regulatory Reporting is part of Global Financial Control and is located in the US, UK, Ireland, France, and India. The EMEA team for capital reporting currently consists of over 50 people in Europe and India and we are expanding the team. In addition to our regulatory deliverables and projects, we are involved in activities such as providing capital adequacy impact analysis to Front Office groups, risk management, model developers, and other strategic project groups, with key stakeholders including GRR EMEA country heads, Griffin data ops, IT, front office traders, Data Management, and Change Management.

Responsibilities:

This role is within the EMEA Regulatory Reporting team and involves:

1. Implementing FRTB rule changes and updates for capital requirements and external reporting, including model and system testing and development.
2. Preparing and reviewing UK and EU capital calculations and reporting for three prudentially regulated entities, including standardised and internal model RWA calculations and reporting across UK, France, and Ireland.
3. Reviewing daily RWA calculations to support management of UK and EU entities' capital adequacy.
4. Collaborating with Front Office, market risk, model developers, and other groups on capital management and RWA efficiencies.
5. Partnering with internal stakeholders such as Risk, Internal Audit, and Compliance.
6. Leading the team in identifying and remediating process and other issues impacting Capital Reporting.
7. Initiating system development (BAU) to support changing rules and improve efficiency and controls.
8. Contributing to strategic system development projects, including defining data, calculation, and reporting requirements.
9. Overseeing UK and EU capital calculations and reporting for three entities.
10. Producing quarterly COREP and other disclosures, including manual adjustments, reconciliations, and variance analysis for UK and EU entities, and presenting results to management.

What we are looking for:

• Qualified Accountant, CFA, or equivalent, or relevant degree/experience.
• Extensive experience in prudential regulatory reporting within an international financial institution.
• Knowledge of EU and UK regulatory frameworks, especially FRTB market risk and CVA.
• Experience with CoRep and Pillar 3 disclosures.
• Understanding of market risk management concepts, product knowledge, and market conventions.
• Basic understanding of pricing models and their impact on FRTB/CVA calculations.
• Ability to interpret regulatory requirements and their technical implementation.
• Strong analytical skills and ability to analyze risk drivers and variances in capital requirements.
• Excellent communication skills, both written and verbal.
• Control-focused mentality and a proactive, team-oriented approach.
• Willingness to learn and research new topics.
• Proficiency in Excel and handling large datasets.
• Effective time management and ability to meet multiple deadlines.

Skills that will help:

• Experience with Axiom or similar regulatory calculation tools.
• Knowledge of Alteryx, Tableau, and other analytical tools.

Benefits of working at Bank of America:

UK:

• Private healthcare, annual health screen, and options for partner coverage.
• Competitive pension, life assurance, and income protection.
• Back-up childcare and adult care support.
• Flexible benefits including wellbeing accounts, travel insurance, and critical illness cover.
• Access to mental health support, virtual GP, and Employee Assistance Program.
• Charitable donation matching and cultural memberships.
• Opportunities for volunteering and community engagement.

We are committed to conduct and diversity, ensuring fair treatment and accessibility for all candidates. Our recruitment process encourages candidates to inform us of any adjustment requirements.