Job Role: Regulatory Reporting Operations Professional
Salary: $94,123 per year or $48.27 per hour.
Location: 181 Bay Street, Toronto, ON
Company: Bank of America
Qualifications: Bachelor’s
Experience: 5+year’s
ABOUT BANK OF AMERICA
Bank of America Canada is an enormous player in the financial offerings region, famed for its comprehensive variety of banking and funding merchandise. Established as a subsidiary of the multinational Bank of America Corporation, it operates with a robust dedication to supplying innovative monetary solutions to character clients, businesses, and institutional traders across Canada. The financial institution emphasizes a customer-centric technique, aiming to foster long-term relationships constructed on acceptance as true and reliable. With a focus on digital innovation,
Bank of America Canada strives to supply convenient banking stories via online and cellular systems, enhancing accessibility and performance for its numerous purchasers. Committed to corporate obligation, the bank actively participates in network improvement projects and promotes sustainability practices. Bank of America Canada maintains its legacy of economic leadership, leveraging international information to support the evolving wishes of Canadian clients in an ever-changing financial landscape.
Job Description
A Regulatory Reporting Operations Professional guarantees compliance with financial pointers by using overseeing the proper and timely submission of regulatory critiques. Responsibilities normally embody amassing information, reading financial statistics, interpreting regulatory requirements, and liaising with inner companies and regulatory authorities. They play a crucial function in maintaining transparency and adherence to prison necessities within financial establishments, ensuring reviews meet regulatory deadlines and pleasant necessities. Attention to element, analytical abilities, and a thorough knowledge of economic guidelines are important for achievement in this position.
Requirements and skills of Regulatory Reporting Operations Professional:
Educational Background:
- A normal requirement is a bachelor’s degree in finance, accounting, economics, employer management, or an associated field. Some employers may also additionally pick applicants with a grasp’s diploma or expert certifications together with CPA (Certified Public Accountant) or CFA (Chartered Financial Analyst).
Regulatory Knowledge:
- In-intensity expertise of economic guidelines is critical, which includes but is now not restrained to Basel III, Dodd-Frank Act, MiFID II, EMIR, and one-of-a-kind applicable regulatory frameworks relying on the vicinity and enterprise. Familiarity with regulatory reporting necessities specific to economic merchandise like derivatives, securities, and commodities is quite valued.
Analytical Skills:
- Proficiency in facts assessment and interpretation is essential. Regulatory Reporting Operations Professionals want to have the ability to investigate complicated financial facts, choose out discrepancies, and ensure accuracy in reporting. Advanced Excel abilities and familiarity with financial reporting structures (e.g., Bloomberg, Reuters) are frequently required.
Attention to Detail:
- Given the regulatory scrutiny and potential felony implications, meticulous hobby to detail is critical. Professionals in this function must make sure all financial facts and reports are accurate, compliant with regulations, and free of errors.
Communication Skills:
- Effective conversation is top to liaising with numerous stakeholders, which incorporates inner organizations (such as compliance, danger management, and finance) and outdoor regulatory authorities. Regulatory Reporting Operations Professionals have to deliver complicated regulatory necessities surely and with a chunk of good fortune. (Regulatory Reporting Operations Professional)
Project Management:
- The ability to control multiple tasks simultaneously under tight deadlines is important. This includes coordinating records series, analysis, document training, and submission inside regulatory timelines.
Problem-Solving Abilities:
- The position often consists of resolving complex issues related to regulatory reporting necessities, information excellence, and tool integration. Strong trouble-fixing skills are important to deal with annoying situations efficiently and efficaciously.
Team Collaboration:
- Collaboration with move-practical teams is not unusual. Regulatory Reporting Operations Professionals paintings closely with compliance officers, auditors, IT professionals, and other stakeholders to ensure complete adherence to regulatory requirements.
Adaptability and Flexibility:
- Financial guidelines evolve, and reporting requirements may additionally trade. Professionals in this role need to stay up to date on regulatory inclinations and adapt reporting strategies as a result.
Integrity and Ethics:
- Given the sensitive nature of monetary records and regulatory compliance, a robust experience of integrity and ethical behavior is paramount.
Industry Knowledge:
- Understanding of the financial offerings industry and its operations is fantastic. Familiarity with banking, investment control, or coverage sectors offers context for regulatory reporting necessities particular to those industries. (Regulatory Reporting Operations Professional)
Certifications:
- While now not continually compulsory, certifications that include CPA, CFA, or certifications specific to regulatory reporting (e.g., FRM – Financial Risk Manager) might also enhance credibility and task prospects.
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