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Regulatory Interpretation Sr. Analyst


This is a directly advertised vacancy. When you apply your application will be forwarded directly to the recruitment team at Bank of America Merrill Lynch

At Bank of America, we realize the power of our people and value our differences recognizing that our diversity makes us a stronger company. Diversity and inclusion are central to our company's values, and we are proud to be widely recognized for our progressive workplace practices and initiatives that promote inclusion. That is why we have asked E2W to advertise this role. 

Job Description:

Corporate Title: Vice President-Director

Location: London

Line of Business: GT&O

Do you come from a compliance or legal background wanting to be part of an exciting new team? Are you seeking an excellent opportunity to develop and make a role your own with a direct impact on the business?

Here in our London office we are looking for a Regulatory Interpretation Senior Analyst who will be part of the enterprise non-financial regulatory reporting (NFRR) group in Chief Data Office (CDO) organization. You 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 the EMEA region.

What will your main responsibilities involve?

  • Analyzing laws, rules and regulations to define 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 investigation 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

What skills and qualifications will you ideally possess?

  • A Law Degree is ideal but not essential
  • In depth experience as a legal / compliance professional with expertise in analysis of law, rules and regulations in EMEA 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 take care of 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 excellent clarity
  • Ability to take care of and mentor junior regulatory interpretation analysts

What competencies will you need?

  • A motivated individual who is passionate about regulatory analysis and interpretation and has a demonstrated track record of high integrity, sound judgment, energy and enthusiasm
  • Ability to work in a fast paced environment to drive quality goals while meeting aggressive delivery deadlines
  • An individual with a demonstrated ability to influence others across organizational lines toward the achievement of collective goals
  • An individual who is resourceful, productive and self-motivated, and who seizes opportunities to innovate and improve process and performance

This is a directly advertised vacancy. When you apply your application will be forwarded directly to the recruitment team at Bank of America Merrill Lynch

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