- Role: Assistant Manager
- Location: Mumbai, Maharashtra
- Company: Bank of America
- Salary: Not Disclosed
- Qualifications: Master’s degree
- Experience: 3 Years
- Employment Type: Full Time, Permanent
Job Description:
The Assistant Manager function at Bank of America in Mumbai, India, makes a specialty of operational chance control in the context of the Sarbanes-Oxley Act (SOX) compliance. This function, part of the Global Financial Control (GFC) India division under Global Business Services (GBS), performs a critical element in overseeing financial reporting chance and ensuring that internal controls meet regulatory necessities. The number one duty of the Assistant Manager is to work carefully with the CFO Organization and the Global SOX Program Office to ensure the employer’s adherence to American Securities and Exchange Commission (SEC) rules regarding economic reporting.
Key Responsibilities:
- SOX Compliance and Control Review: The position involves partnering with various commercial enterprise lines, inner audit groups, and the SOX Program Office to review and check process controls. The Assistant Manager is anticipated to pick out gaps within SOX controls, recommend enhancements, and make sure strategies are nicely documented for compliance.
- SOX Process Improvement: The Assistant Manager will paint on initiatives to improve SOX processes and controls. This involves offering guidelines to commercial enterprise traces and accomplishing deficiency assessments to beautify the overall management shape. The purpose is to align with SOX requirements and mitigate any financial reporting dangers.
- Ongoing Support to Business Lines: The Assistant Manager will manipulate changes to manner and manage layout. They will make sure that modifications are made by SOX rules and communicated efficiently to the applicable enterprise units. This additionally includes dealer risk reviews, SOX scoping, and managing statistics within the ECAP gadget, which is critical for SOX reporting and compliance.
- Coordination with Global Teams: As part of Bank of America’s worldwide network, the position calls for seamless integration and coordination with teams placed in different geographies. This international collaboration ensures constant SOX compliance and threat control practices across all regions.
- Stakeholder Engagement: The Assistant Manager must interact with various stakeholders, together with Lines of Business (LOB), inner and outside audit teams, and other departments to facilitate risk and manipulate control. This requires tremendous verbal exchange and influencing abilities to force consistency and compliance.
- Operational Excellence: A vital component of the position is to strive for operational excellence using continually enhancing painting tasks and approaches. The Assistant Manager should make sure that every deliverable meets the very best requirements of first-rate accuracy, contributing to the overall fulfillment of the SOX program.
- Financial Reporting Compliance: One of the vital responsibilities of the Assistant Manager is to guide the CFO’s attestation of key regulatory reviews which include the FR Y-14 document, which provides the Federal Reserve with comprehensive data on capital and risk management practices. Ensuring accurate reporting is vital for maintaining regulatory compliance.
Educational and Professional Requirements:
To qualify for this function, applicants must have a strong academic historical past in accounting or finance. A Chartered Accountant (CA) or Certified Public Accountant (CPA) designation is needed, or a grasp’s degree or equivalent qualification in finance or accounting. This formal education is essential for information on the complexities of financial reporting and inner controls, particularly inside the framework of SOX compliance.
Experience and Skills:
Candidates should have a minimum of three years of revel in chance management, inner controls, SOX compliance, or audits. Experience in the Big 4 accounting firms or the banking and financial offerings enterprise is favored, as these sectors have rigorous compliance and auditing requirements, which align properly with the duties of this position.
Key foundational capabilities consist of:
- A robust information on danger control, inner controls, and the SOX compliance framework.
- Proficiency in reviewing finance procedures, figuring out threat points, and making hints for improvement.
- A solid hold close of financial reporting approaches, especially for US-listed companies, and familiarity with the structure of monetary statements.
- Expertise in Microsoft Excel and PowerPoint for developing reports and displays that talk about monetary dangers and controls successfully.
- Excellent communique, presentation, and influencing capabilities to engage with go-functional teams and stakeholders.
- In addition to the foundational capabilities, the following desired capabilities would beautify a candidate’s effectiveness in the position:
- Knowledge of prison, regulatory, and enterprise-specific requirements.
- Familiarity with SEC and PCAOB necessities, in addition to the COSO Integrated Framework of Internal Control.
- Proven potential to manipulate competing priorities in fast-paced, global surroundings.
- Strong hassle-fixing abilities to deal with complicated issues independently or with minimum entry from others.
About Bank of America:
Bank of America is a leading worldwide financial group serving character purchasers, small and middle-market groups, and big companies. It offers a comprehensive range of banking, investment, asset management, and financial risk management services and products. Committed to excellence, the financial institution focuses on attracting pinnacle skills and creating inclusive painting surroundings. Its Global Business Services division supports various commercial enterprise traces with era and operational capabilities, using innovation and performance across the corporation.
Benefits:
- Competitive Compensation: The position typically includes competitive profits alongside overall performance-primarily based bonuses and incentives.
- Comprehensive Health Benefits: Access to medical insurance plans, such as clinical, dental, and vision insurance, to ensure standard well-being.
- Retirement Savings Plans: Opportunities to take part in retirement financial savings packages, which include a 401(k) plan with organization matching contributions.
- Professional Development: Access to training and professional improvement applications to enhance talents and improve in the economic industry.
- Work-Life Balance: Flexible running hours and the ability for far-flung work alternatives, contribute to a balanced and pleasurable work environment.
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