Job Information
Bank of America Reporting / Accounting Policy Manager in Charlotte, North Carolina
Reporting / Accounting Policy Manager
Charlotte, North Carolina
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 directing the day-to-day finance activities involving regulatory reporting and accounting policy. Manages associates working with reporting requirements and guidelines of the SEC to maintain records and prepare required financial reports. Considered a working manager. In addition to supervisory / administrative duties, individuals are actively involved in the execution of processes. Assist management in the development and implementation of accounting policies and procedures.
The Chief Financial Officer (CFO) Groupis responsible for the overall financial management of our company. This includes accounting, financial and regulatory reporting, balance sheet management, financial planning and analysis, treasury, investor relations, corporate investments and tax.
Global Financial Control (GFC)is responsible for managing and executing consolidated financial and legal entity reporting; interpreting and applying accounting policy and standards; overseeing financial controls and operational risk assessments; managing and maintaining financial data and systems; managing general ledger and sub‐ledger accounting; and supporting tax activities. In short, our focus in GFC is to get the numbers right and to work in support of the company’s goals, most importantly responsible growth.
Global Regulatory Reporting (GRR)is responsible for preparation, review, and submission of U.S. financial regulatory reports for the bank, broker-dealer, and certain non-bank subsidiaries and works closely with business and finance partners across the organization to gather, analyze and prepare required regulatory reports. Regulatory reporting is an important enterprise-wide effort providing Company data to regulatory agencies for analytical and supervisory purposes.
This is a highly visible position within the organization. The role will oversee the production, review and analysis of the FR Y-9C Consolidated Financial Statements for Holding Companies and FFIEC 031 Call Report schedules and other high risk regulatory reports. The position will be responsible for ensuring reporting is accurate, complete, timely and in conformance with regulatory instructions.
Additionally, the role supports the AXIOM/ADS implementation and will support internal and external audit reviews as well as Second Line Operational Risk reviews.
The candidate will drive process improvements to enhance the effectiveness and efficiency of the reporting process by identifying opportunities for automation and to embed controls within the production processes. The candidate will be expected to effectively challenge how data is reported through analysis and explain how key business drivers impact period over period variances. This position will interface with other regulatory reporting groups to develop standard data sources and to drive a consistency with variance analysis.
Responsibilities include:
Manage the production for FR Y-9C and FFEIC 031 with adherence with tight reporting deadlines.
Monitor outstanding data and control issues and assess impact across regulatory reporting, drive remediation efforts and identify compensating controls to mitigate risk.
Actively participate on strategic initiatives to deliver standardized and automated processes for regulatory reporting
Prepare presentations for senior management, including governance processes that ensure the accuracy, completeness and relevance of reporting as well as variance analyses that explain fluctuations in terms of business events.
Develop control reports for internal and external edit checks; review and validate business responses.
Ensure effective change-management protocols are in place to monitor changes to reporting instructions and business products.
Ensure compliance the Regulatory Reporting-Enterprise Policy.
Skills:
Data and Trend Analysis
Financial Accounting
Interpret Relevant Laws, Rules, and Regulations
Regulatory Compliance
Risk Management
Attention to Detail
Continuous Improvement
Financial Analysis
Project Management
Reporting
Required Qualifications :
In-depth understanding of GAAP and bank regulatory reporting (FFIEC, FRB, FDIC and OCC)
15+ years of relevant finance experience in a large banking environment
Organizationally savvy; can work across organizational lines to gain consensus and buy-in from stakeholders
Execution-oriented; with ability to quickly organize work and execute with speed
Excellent communication skills – written and verbal
Strong team engagement and organizational skills
Strong technical skills, ability to analyze large volumes of data
Desired Qualifications:
- BS in Finance or Accounting, MBA /CPA preferred - or equivalent work experience
Shift:
1st shift (United States of America)
Hours Per Week:
40
Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity and affirmative action, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other bases such as medical condition, marital status or any other factor that is irrelevant to the performance of our teammates.
To view the "EEO is the Law" poster, CLICK HERE (https://www.dol.gov/ofccp/regs/compliance/posters/pdf/eeopost.pdf) .
To view the "EEO is the Law" Supplement, CLICK HERE (https://www.dol.gov/ofccp/regs/compliance/posters/pdf/OFCCP_EEO_Supplement_Final_JRF_QA_508c.pdf) .
Bank of America aims to create a workplace free from the dangers and resulting consequences of illegal and illicit drug use and alcohol abuse. Our Drug-Free Workplace and Alcohol Policy (“Policy”) establishes requirements to prevent the presence or use of illegal or illicit drugs or unauthorized alcohol on Bank of America premises and to provide a safe work environment.
To view Bank of America’s Drug-free Workplace and Alcohol Policy, CLICK HERE .
This communication provides information about certain Bank of America benefits. Receipt of this document does not automatically entitle you to benefits offered by Bank of America. Every effort has been made to ensure the accuracy of this communication. However, if there are discrepancies between this communication and the official plan documents, the plan documents will always govern. Bank of America retains the discretion to interpret the terms or language used in any of its communications according to the provisions contained in the plan documents. Bank of America also reserves the right to amend or terminate any benefit plan in its sole discretion at any time for any reason.
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