Regulatory Interpretation Sr. Analyst - Nfrr - Band 4

Bank Of America Corporation Jersey City , NJ 07097

Posted 4 days ago

Job Description:

The Regulatory Interpretation Sr. Analyst will be part of the enterprise non-financial regulatory reporting (NFRR) group in Chief Data Office (CDO) organization and will play a vital role in establishing regulatory strategy and documenting regulatory requirements for regulatory reporting across enterprise (GBAM, Consumer, GWIM and Control Functions), with a focus on GBAM regulatory reporting in AMRS region.

The Regulatory Interpretation Sr. Analyst will be responsible for:

  • Analyzing laws, rules and regulations to determine regulatory reporting requirements and their applicability to BAC

  • Determining the jurisdictions, legal entities, businesses and products in scope for applicable regulatory reporting requirements

  • Monitoring regulatory landscape for new regulations and regulatory changes applicable to non-financial regulatory reporting

  • Mapping / capturing applicable regulations within regulatory reporting database (Blueprint)

  • Working with front-office representatives and report owners to derive the relevant business requirements from applicable regulatory requirements

  • Working with the Regulatory Reporting and Data & Technology groups to develop data dictionaries and report generation playbooks for regulatory reports

  • Consulting with Data & Technology group to help identify common data requirements across reports to achieve optimal data compression

  • Identifying interpretive decisions and assumptions from BAC Legal and Compliance and from regulators and other third parties and mapping to applicable reporting regulations

  • Evaluating regulatory changes, business changes and other trigger events for impact upon regulatory requirements, business requirements and reporting data

  • Collaborating with Legal, Compliance and other stakeholders on regulatory areas requiring further escalation and involvement

  • Remediating regulatory interpretation issues

  • Providing leadership to 1-2 regulatory interpretation analysts in documenting applicable regulations within Blueprint database

  • Working together with other regulatory interpretation analysts to establish regulatory interpretation strategy, standards and processes, including QA processes

Required Skills:

  • Possess 7+ years of experience as a legal / compliance professional with expertise in analysis of law, rules and regulations in AMRS jurisdictions

  • Extensive subject matter expertise in regulatory interpretation for one or more of the following domains: Securities and Derivatives, Global Markets, and / or Global Banking. Desirable for candidate to also have experience or familiarity with Anti-Money Laundering, Escheatment, Consumer Mortgage, Commercial Lending or HR regulatory reporting areas

  • General experience working in a legal or compliance environment in Global Banking & Markets organization is desired along with excellent understanding of Banking & Markets businesses, trading, products and instrument lifecycles

  • Ability to effectively manage day-to-day interactions and relationships with a diverse group of colleagues in the front office and control functions

  • Excellent written and oral communication skills. Ability to communicate complicated issues succinctly and pointedly, organized with exceptional clarity

  • Ability to manage and mentor junior regulatory interpretation analysts

  • Skilled in developing broad internal and external networks of stakeholders and collaborators, and capable of cultivating strong interpersonal relationships

Desired Skills:

  • Law degree preferred

Posting Date: 01/16/2019

Location: Jersey City, NJ, 101 HUDSON ST (NJ2101), - United States

Travel: Yes, 20% of the time

Full / Part-time: Full time

Hours Per Week: 40

Shift: 1st shift

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