Senior Business Control Specialist

Job Description

Global Reconciliation Governance (GRG), a team within the Company’s Chief Financial Officer (CFO) Group supports a reconciliation governance model. This model encompasses Enterprise level reconciliation requirements and comprehensive account ownership for GL Accounts and BAs along with ongoing monitoring through management reporting and targeted account reviews.

Account reconciliations are an essential component of the overall risk management process at Bank of America. Reconciliations help to ensure the integrity of the Balance Sheet as this information is used to prepare numerous corporate and regulatory reports. Further, accurate and complete information is paramount in complying with various laws, regulations, and principles, such as the Sarbanes-Oxley Act, U.S. Securities and Exchange Commission regulations, U.S. Generally Accepted Accounting Principles, FDIC Improvement Act (FDICIA) and regulatory reporting instructions.

Account reconciliations serve as a detective control, with subsequent review and approval serving as verification that the GL Account and BA balances are accurate, complete and reliable.

• Completing second level reconciliation reviews to evaluate and report control points around the reconciliation process.
• Monitoring and review of manual journal entries ensuring segregation of duties and approval flow is followed as per policy requirements.
• Identifying the underlying risk in relation with accounting GAAPs, regulatory reporting and SOX requirements.
• Partner with key business contacts and stakeholders to understand and address potential compliance issues.
• Provide subject matter expertise to reconciliation owners and journal entry preparers / approvers across the enterprise on the interpretation of the policy and provides guidance on the implementation and execution of required standards.
• Ensuring that all non-credit reconciliation related charge-offs and recoveries are identified and reported to GRG.
• Assist with the identification of appropriate metrics designed to measure the effectiveness of GL Account Reconciliation and Manual Journal Entry (GL AR and MJE) controls.
• Contribute to the development of internal guidance for GL AR and MJE policies and standards to ensure consistent and appropriate application across the Enterprise.
• Provide audit documentation and manage audit walkthroughs for external and internal audits conducted during the year for Global Reconciliation Governance process.
• Manage monthly GRG Dashboard meetings, discuss open items and provide guidance around policy matters to key business contracts and stakeholders.

• 3+ Years of Accounting and Reconciliation experience
• Able to work in a fast paced, deadline oriented environment
• Strong organization and time management skills
• Proficient in the use of Excel, Word and Power Point
• Excellent written and verbal communication skills are necessary as the position requires global correspondence and communication with associates throughout the Bank.

• Accounting/Finance degree
• Exposure to International Accounting & Reporting Standards (US GAAP’s, FAS, IFRS)
• Oracle and SAP experience
• Project Management experience
• Proficiency in Alteryx and Tableau

1st shift (United States of America)

40

US - RI
- Riverside - 3400 Pawtucket Ave
- East Providence Call Center (RI1530)

$67,000.00 - $ annualized salary, offers to be determined based on experience, education and skill set.

This role is currently benefits eligible. We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.

Discretionary Incentive:
The role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.