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68 Bank of America Jobs
Sr Group Operations Manager
7-10 years
Hyderabad / Secunderabad
1 vacancy
Sr Group Operations Manager
Bank of America
posted 5mon ago
Job Role Insights
Flexible timing
Key skills for the job
Job Description
Non-Financial Regulatory Reporting, Tax & Credit Reporting Operations (NTCO)
Responsibilities include:
- Producing and submitting Nonfinancial Regulatory reports
- Soliciting, validating, and producing client Tax Reporting forms
- Reporting and Remitting Tax withholdings to federal and state agencies
- Furnishing data to Consumer Reporting agencies
Non-Financial Regulatory Reporting (NFRR) Key function includes:
- Produce, review and submit regulatory reports in a complete, accurate and timely manner in conformance with regulatory requirements.
- Provide governance and oversight for legacy GBAM inventory of over 2000 NFRRs across 200+ Report Preparer teams, 160+ Report Owners across Global Markets, GCIB and Enterprise Credit and conduct centralized controls process activities.
- Prepare transaction reports including CFTC and SEC reports in USA, EMIR, SFTR, and MiFID reports in Europe, and reports for regulators in Hong Kong, Singapore, Australia, Japan and South Korea. Provide post-process quality assurance function of G20 transaction reports and related obligations.
- Manage and maintain the Consolidated Audit Trail (CAT) program end-to-end and oversee daily operations for CAT reporting
Global TRCG team is Report preparer for transaction reports like CFTC, SEC, EMIR, SFTR, MiFID and they handle reports for regulators across USA, EMEA and APAC. It also includes Post-process quality assurance function of various regulatory reports and related obligations.
Job Description
The position will be in India NTCO team and as a TRCG Lead expectation would be to ensure flawless delivery from India. The incumbent would be managing 150+ FTE group. Transaction Reporting Control Group (TRCG) is responsible for reviewing completeness, accuracy and timeliness of Transaction reports in Global Markets. It is divided into 4 major components
- Submission Controls : Manage the exceptions in reporting
- Enhanced Quality Assurance : Manage the Data Quality control to identify reporting issue
- Remediation :- Manage the resolution and back reporting for reporting issues
- TR Initiatives & Execution :- Manage Regulatory Change
Responsibilities
The responsibilities of the incumbent will include the following:
Delivery Management
- Manage the delivery from Team India across the large group.
- Supporting day to day relationship management and communications with business partners at various levels of the organization
- To build a positive and productive working relationship with NFRR Global stake holders, for better team engagement and growth
- To lead the GBS NTCO-TRCG team and ensuring the team processes and deliveries are carried out in a timely and accurate manner
Process Management
- To facilitate the GBS teams to critically review current processes for effectiveness, quality and simplification
- To identifying new processes, areas of improvement, process challenges to increase productivity, reduce costs or improve time management.
- To oversee process implementation and also monitor and measure the benefits post implementation
- Responsible for understanding and coordinating escalations in a timely manner for quick and accurate resolution
- To promote & implement best practices and adherence to Bank compliance policies
Risk Management
- To perform periodic risk assessment and evaluation of the GBS NFRR Function: Analyzing and evaluating current risks, identifying potential risks and comparing with criteria defined by the bank
- Assess control environment, Key Risk Indicators and the Control mechanisms for the TR and assist them with mitigating risks
- Lead efforts to design and implement Reporting controls
- Active, routine engagement with internal risk and control functions to ensure information sharing across risk types
- Support delivery teams on Regulatory query management and Audit management.
People Responsibilities
- Team leadership & people management
- Create an engaged and happy team with high employee satisfaction indexes
- Plan the career progression and support the growth of the team
- To empower employees by offering constructive feedback, encouraging skill-building and learning opportunities
- To assess staffing needs, supervise and evaluate the team members on a periodic basis
Strategic Responsibilities
- Design and execution of strategic initiatives and the business case developments
- To support and drive the development of the role of our India team locally and globally
- Focus on Operational Excellence to make the processes more efficient
- Leverage the position and identify opportunities and best practices across business to influence stronger delivery from India
- To align team goals, processes and resource allocation accordance with the vision and strategy of the bank
- To provide inputs and support to the senior leadership in framing & driving the strategy locally & globally
Change Management
- Ensure changes in laws and regulations are evaluated for impact to relevant reports, plan for implementation of change is developed and tracked.
- Identify change implementation risks and ensure those are signed off by the respective stakeholders
Requirements
Qualifications - CA or people with MBA from premier schools would be preferred
Experience Range: 20+ years of Experience
- Experienced Techno Functionalist with a Tech degree backed up by MBA from good institutes.
- Demonstrated Experience of running Technology teams and Operations Groups in prior roles
- Ability to understand the reporting regulations from a breadth and depth perspective. Should be able to connect the dots on how new regulations / or changes to existing regulations impact the operating model
Foundational Skills
Competencies/ Technical Skills
- Thorough understanding of Global Markets products.
- Experience & Understanding of Global Markets area with varied experience across asset classes and functions.
- Evolving area. Thought leadership needed to drive the operating model.
- Should have led large scale functions like Trade Control and/or Regulatory Reporting for large investment banks
- Expertise in driving Data Management to drive evolution of Data Quality Control
- Understanding & Experience in Data Query Tools like Alteryx / SQL is a huge plus
- Ability to build good working rapport with Global stakeholders and drive the team to help meet global goals
- Understanding global priorities of global TRCG and aligning local objectives with the global objectives
- Understanding of the functional risk and add value globally by helping mitigate these risks
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- Demonstrated Capability of managing large teams with large sub teams over 5+ years
- Experience in managing delivery on large scale transformation programs
- Excellent Communication Skills
Desired Skills
- Strong analytical and fact-based decision making Ability to meaningfully Analyze and report complex data for enterprise and reporting
Work Timings: 12:30 pm to 9:30 pm IST
Job Location: Hyderabad
Employment Type: Full Time, Permanent
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based on 3.1k employees
Flexible timing
Monday to Friday
No travel
Day Shift
Bank of America Benefits
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