Bank of America Frontier Reconciliation Process Design Consultant - Band 5 in Charlotte, North Carolina

Job Description:

Process Design Consultant Data Accuracy Service Team. The Data Accuracy Service Team is part of the Enterprise Data Management Services. The Data Accuracy Service Team utilizes Frontier Reconciliation as the tool to handle all transaction and balances reconciliations for the Balance Sheet accounts as well as Authorized Data Sources balances.

The Frontier Reconciliation Process Design team functions as subject matter experts and business liaisons, design and support the reconcilement processes and tools for any internal DDA and General Ledger account reconcilements under the Global Internal Reconcilement's and Control footprint (GIRC) and Authorized Data Sources (ADS). Process Design functions are as follows:

1) The position is responsible for fully automation of the reconciliation lifecycle utilizing Frontier. This will include various Transactional Authorized Data Sources (ADS) as part of the Enterprise Data Management Program to address controls for the Risk Data Aggregation (RDA) Principles as well as GL Reconciliation in compliance with the reconciliation standard managed by the CFO organization.

2) Serves as the SME/business liaison/project manager in a variety of Lines of Business (LOB) projects to ensure minimal impact to the existing reconcilement process and/or design/implement any new reconcilement processes to support LOB objectives such as new product offerings and/or application changes.

3) Serves in a similar capacity as LOB projects on major transition or change initiatives.

4) Supports the internal infrastructure of GIRC’s reconcilement process/platform such as reconcilement procedures, policy/governance interpretation (GFC, Audit, SOX), and process improvements.

5) Identify areas that could be improved and free up resources for more value-added tasks. The solution significantly reduces the time to close daily and period-end reconciliation activities

Activities may include:

• Designing (includes procedure writing, training, testing, and implementing/follow-up monitoring) of reconcilement processes to adhere to any reconcilement governance standards/policies and optimally utilize resources i.e., associates and reconcilement tools

• Providing guidance on reconcilement best practices

• Escalating reconciliation issues i.e. un-reconciled accounts, inadequate reconcilement controls and/or practices, nonconformity to governance standards

• Serving as the reconcilement SME on various project initiatives where the primary role may be of enabler, communicator, and project manager.   

Required Skills & Experience:

  • Minimum 5 - 7 years relevant work experience.

  • Previous experience in tools that support accounting or finance.

  • Must excel at business partnering and communication.

  • The successful candidate will demonstrate flexibility and commitment to business partner satisfaction, quality, accuracy and teamwork.

  • Must have a broad understanding of accounting controls/flows, reconcilement processes/tools and banking operations/BAC applications.

Must be able to:

  • Apply management focus and discipline in a virtual environment

  • Champion Change

  • Communicate crisply and candidly (verbal/written)

  • Demonstrate business acumen

  • Demonstrate sound judgment and act with speed, be decisive.

  • Ability to challenge the status quo.

  • Stands up for what is right even when challenged

  • Be aware of reconcilement standards/policies, and regulatory environment

  • Validate and analyze data

  • Work independently to identify errors, pinpoint root causes, and devise solutions with appropriate oversight. Desired Skills & Experience:

  • Project Management

  • Ability to influence of key stakeholders, gaining their trust and commitment

  • Experience with Frontier (FiServ Product)

Posting Date : 05/17/2018

Location :

Charlotte, NC, TRANSAMERICA SQUARE, 401 N TRYON ST,

Riverside, RI, 3400 Pawtucket Ave (RI1530),

  • United States

Travel : No

Full / Part-time : Full time

Hours Per Week : 40

Shift : 1st shift

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