Job description

Requirements

  • Entry level
  • No Education
  • Salary to negotiate
  • Jacksonville

Description

Job Description:

The BAC Mortgage Hub (BMH) provides instrument level mortgage data for finance and risk processes, including numerous loss forecasting, GAAP accounting, SEC and Regulatory Reporting processes. The BMH Controls Oversight team’s primary focus is to ensure effective controls are in place for BMH system processes according to SOX and data management standards. The team participates in a variety of data quality and data analysis routines to ensure the integrity of data residing in BMH. In addition, the team is involved in all BMH examinations and audits through interactions with regulators and auditors along with providing requested information and answering questions. The team also supports various reporting submissions (such as SEC filings and regulatory reports) by providing data from and validating data within BMH.  

Key responsibilities for this role include:

Provide complete and accurate data for CCAR FR Y-14M/Q regulatory reporting, FDIC High Risk and OCC Metric reporting together with financial analytical support
Ensure compliance with FRB and OCC instructions in support of regulatory reports and related company policies as well as governance routines
Comprehend underlying data requirements and the context in which such data will be used in regulatory reports
Own core reporting processes and work with technology partners to support and improve the reporting processes (to include work on developing and reviewing technical requirements, conducting user acceptance testing and post deployment reviews)
Reconcile loan populations from the general ledger to FR Y-14M and FR Y-9C regulatory reports and ascertain the root cause of discrepancies between reports
Review trend reports for loan portfolios and related data attributes to interpret and explain trends along with potential data issues
Perform root cause analysis on BMH key fields and document findings that have valid data quality issues plus work with other BMH teams, technology partners, and data consumers to identify impacts and identify potential solutions
Draft monthly summary report (describing trends, data issues, impacts of technology releases, reporting errors, new regulatory requirements, etc.)  for the Centralized Regulatory Reporting group and Sr. Management
Support audits and regulator exams of BMH and regulatory reporting by interpreting requests for data, drafting pertinent responses and interacting with auditors
Required Skills

3 – 5 years of relevant work experience in banking, mortgage banking or financial services

Ability to interpret, classify and analyze large data sets using MS SQL

Demonstrable proficiency with T-SQL and the ability to follow established coding standards

Data and quantitative analysis experience plus strong analytical and problem solving skills

Ability to work with and communicate across all levels of the organization leveraging strong written, verbal and presentation skills

Competent at working in a self-directed manner to complete multiple tasks while meeting diverse deadlines                                                                                             

Foster a positive and inclusive work environment

Bachelor’s degree required

Desired Skills

Experience with regulatory reporting requirements such as FR Y-14M, FR Y-9C, etc.

Knowledge of Generally Accepted Accounting Principles (GAAP)

Experience with Home Loan servicing and loan accounting

About the company

Bank of America is one of the world's largest financial institutions, serving individuals, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company serves approximately 56 million U.S. consumer and small business relationships. It is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading.

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