Regulatory Reporting Controller II

Location: London

Corporate Title: Assistant Vice President

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.

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, we are involved in various activities such as providing capital adequacy impact analysis to various Front Office groups on new products/transactions, client migrations and other strategic projects.

Responsibilities:

• FRTB - Involved in implementation of FRTB rule changes/updates for capital requirements and external reporting scheduled for 2026, including model and system testing and development of the reporting capabilities.
• Preparing and reviewing the UK and EU capital calculations and reporting of 3 prudentially regulated entities.
• Daily capital calculations/analysis - Review daily RWA calculations to be incorporated in the daily capital adequacy status sent out to senior managers.
• Business Partnering – Collaborate with Front Office, market risk, model developers and other groups on capital management and RWA efficiencies.
• Stakeholder interaction - Deal with ad-hoc requests from external regulators and internal stakeholders such as Risk, Internal Audit and Compliance.
• Issue management – leading the team in identifying and remediating process and other issues impacting the Capital Reporting process.
• System development (BAU) – Initiation of technology change to support changing rules, and our continuing process to improve efficiency and controls.
• External Regulatory Reporting and Disclosures – Produce the quarterly COREP and other disclosures including manual adjustments, reconciliations, period on period variance analysis for UK and EU entities.

What we are looking for:

• Qualified Accountant, CFA or equivalent or a relevant degree or experience.
• Experience in a prudential regulatory reporting function in an international financial institution.
• Knowledge of the EU and UK regulatory framework, specifically on elements of FTRB market risk and/or CVA.
• Experience in CoRep and Pillar 3 disclosures.
• Understanding of basic Market risk management concepts.
• Good product knowledge including payoff types and product features.
• Basic understanding of pricing models and impact on the calculation of FRTB/CVA inputs.
• Ability to understand implications of regulatory requirements on technical implementation of the calculations.
• Ability to perform risk drivers’ analysis and provide commentary on variance in capital requirements.
• Ability to communicate clearly on technical topics with risk management and front office.
• Control focused mentality.
• Highly proficient in Excel, including the ability to work with large datasets.

Benefits of working at Bank of America:

• UK Private healthcare for you and your family plus an annual health screen.
• Competitive pension plan, life assurance and group income protection cover.
• 20 days of back-up childcare and adult care per annum.
• The ability to change your core benefits and select a variety of flexible benefits.
• Access to an emotional wellbeing helpline and Employee Assistance Program.
• Opportunity to donate to charities of your choice directly through payroll.
• Opportunity to access our Arts & Culture corporate membership program.
• Opportunity to give back to your community and develop new skills.

Bank of America: 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. We are an equal opportunities employer and ensure that no applicant is subject to less favourable treatment on the grounds of sex, gender identity or gender reassignment, marital or civil partner status, race, religion or belief, colour, nationality, ethnic or national origins, age, sexual orientation, pregnancy or maternity, socio-economic background, responsibility for dependants or physical or mental disability.