Job Description:
Job Title: Regulatory Reporting Controller
Corporate Title: Assistant Vice President
Location: Paris
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.
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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!
Location Overview:
Based in the 8th arrondissement and within the Parisian Golden Triangle, our beautiful Art-Deco era office benefits from luxury modern workspaces, an abundance of natural light and is easily accessible by public transport.
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 various activities such as providing capital adequacy impact analysis to various Front Office groups, risk management, model developers and other strategic project groups with the key stakeholders being GRR EMEA country heads, Griffin data ops, IT, front office traders, Data Management, Change Management.
Role Overview:
This is a role in EMEA Regulatory Reporting team. The role will deepen your knowledge of financial products and provide a great opportunity to build knowledge of prudential regulation. Responsibilities include:
- 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. The team carries out all standardised and internal model RWA calculations and reporting across UK, France and Ireland
- Daily capital calculations/analysis - Review daily RWA calculations to be incorporated in the daily capital adequacy status sent out to senior managers to support management of UK and EU entities
- 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 partnering 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. Review of business requirements, help with data sourcing and carry out UAT and post deployment testing
- System development (Strategic) - As a user help to define data/ calculation/reporting requirements for an in-flight infrastructure project including analysis tools
- Helping to oversee the UK and EU capital calculations and reporting of 3 prudentially regulated entities
- 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, presenting these results to management
What we are looking for:
- Qualified Accountant, CFA or equivalent or a relevant degree or experience
- Proven 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 3disclosures
- Understanding of basic Market risk management concepts (e.g., diversification, hedging, payoff profiles, etc.)
- Good product knowledge including payoff types and product features (KI/KO, structures, futures vs forwards, etc.)
- Basic understanding of market conventions, underlying's, and impact of reference data on calculations
- 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
- Excellent analytical skills, ability to perform risk drivers' analysis and provide commentary on variance in capital requirements
- Highly proficient in Excel, including the ability to work with large datasets
Benefits of working at Bank of America:
France
- Competitive retirement plan in addition to State plans
- Mandatory Medical Plan provided by the bank as a top-up to Social Security health benefits for you and your family.
- Employees and family members can receive free health advice 24/7 through a range of English and French speaking medical providers
- Life and disability insurance
- Time Savings Account ('CET') to save some of your leave days, cash them out or use them later
- Reimbursement of 50% of your commuter pass
- Nursery scheme for children under age 3
- Works council benefits
- Access to an Employee Assistance Programme for confidential support and help for everyday matters
- Opportunity to give back to your community, develop new skills and work with new groups of people by volunteering with local charities
- Opportunity to receive free entry to arts exhibitions sponsored by Bank of America in Paris
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. Individual accountability and an ownership mind-set are the cornerstones of our Code of Conduct and are at the heart of managing risk well.
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. The Bank selects candidates for interview based on their skills, qualifications and experience.
We strive to ensure that our recruitment processes are accessible for all candidates and encourage any candidates to tell us about any adjustment requirements.