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27 Jul 2023
Full-Time Director, Regulatory Reporting Manager
Job Description
Overview & Purpose
The External Regulatory Reporting Director (the “Director”) leads and manages the preparation, analysis and submission of various regulatory reports and schedules, and other senior management reports. The Director is a subject matter expert (SME) on the U.S. Capital Rules (Basel III) for Advanced and Standardized Approaches capital and risk-weighted assets (RWA). The Director presents the quarterly capital ratios to the CFO, Senior Management and Regulatory Supervisors. The Director ensures that all regulatory reports, schedules, and management reports are accurate and complete filed in a timely manner and follow governance and control procedures.
Responsibilities and Knowledge include: (but not limited to)
- Extensive knowledge of regulatory reporting best practices and a strong understanding of the internal controls over regulatory reporting standards.
- Manage the end-to-end process of data gathering, capital and RWA calculations, preparation, and submission of the Basel reports, including FFIEC101, FR Y-9C Schedule HC-R, Supplementary Leverage Ratio, and Leverage Ratio reports.
- Execute completeness and accuracy checks across different stages of the data flow, including reconciliations, data quality checks, variance analysis, trend analysis, sensitivity analysis and other controls to support the completeness and accuracy of the reports submitted to senior management and regulators.
- Manage the Basel reporting attestation process for all data providers and stakeholders.
- Prepare and present Basel capital results to CFO, Senior Management, and Regulators on a regular basis.
- Manage a team of direct and indirect reports spanning across multiple locations.
- Proactively provide updates to senior management on material changes to capital and RWAs for upcoming quarters.
- Coordinate and drive RWA optimization efforts by engaging with lines of business, lines of business CFOs, Treasury Balance Sheet Management Team, Credit Risk, and other stakeholders.
- Conduct regular update meetings with Federal Reserve, OCC, and other regulators.
- Liaison with Regulatory Policy, Regulatory Legal, and peer banks on new regulations and continuous compliance with current regulatory requirements.
- Review and evaluating the existing BAU processes for effectiveness, identifying automation opportunities and driving efficiencies in the reporting process.
- Position as the Basel SME and the point of contact for lines of business, risk, treasury, and other business partner areas.
- Respond promptly to internal and external regulatory related inquiries.
- Develop and conduct RWA educational sessions for all levels of Regulatory Staff and other stakeholders.
- Provide leadership and mentorship to the junior Basel reporting team members through coaching, development, and talent management.
- Address highly complex external reporting matters associated with the process.
- Lead management’s role in all internal and external exams associated with the Basel reporting processes.
- Lead and support the team in establishing new and improved controls to remediate issues raised by external and internal examiners.
Qualifications and Required Skills
The preferred candidate should have qualifications described below:
- Bachelor’s degree or the equivalent combination of education and experience is required.
- B.A./B.S. with Accounting or similar concentration or equivalent experience is preferred.
- 12 to 15 years of experience in external reporting preferred
- Experience in regulatory reporting is required with extensive knowledge of U.S. Capital Rules (Basel III – Advanced and Standardized Approaches) and bank financial products.
- C.P.A. and knowledge of GAAP is preferred.
- Knowledge of SQL and/or other languages such as Python would be beneficial
BNY Mellon assesses market data to ensure a competitive compensation package for our employees. The base salary for this position is expected to be between $122,000 and $205,000 per year at the commencement of employment. However, base salary if hired will be determined on an individualized basis, including as to experience and market location, and is only part of the BNYM total compensation package, which, depending on the position, may also include commission earnings, discretionary bonuses, short and long-term incentive packages, and Company-sponsored benefit programs
This position is at-will and the Company reserves the right to modify base salary (as well as any other discretionary payment or compensation) at any time, including for reasons related to individual performance, change in geographic location, Company or individual department/team performance, and market factors.
BNY Mellon is an Equal Employment Opportunity/Affirmative Action Employer. Minorities/Females/Individuals With Disabilities/Protected Veterans.
Our ambition is to build the best global team – one that is representative and inclusive of the diverse talent, clients and communities we work with and serve – and to empower our team to do their best work. We support wellbeing and a balanced life, and offer a range of family-friendly, inclusive employment policies and employee forums.
How to Apply
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