Associate, Regulatory Reporting

Assist in the preparation of various Federal Reserve Bank of New York (“FRB”) regulatory reports and documentation of key processes, procedures, governance and controls related to the preparation of core Federal Reserve report filings. Applies basic theories, skills, and practices to accomplish assignments including compliance to FRB reporting instructions cross the RBC enterprise reporting platform including collaboration with Legal Entity Controllers (LECs) on Regulatory Reporting impact assessments due to new business product offerings and changes to US GAAP & IFRS accounting principles.

What would you do ?

• Assist in the preparation, analytical review, and filing of core Federal Reserve regulatory reports including but not limited to the FR Y-9C, FFIEC 002, FR Y-14, FR Y-9LP, FRY-7Q, FR 2314, FRY-11 & TIC Reporting Series

• Review / maintain documentation of procedures, RCSA and governance for the reports

• Monitor and implement on-going changes in Regulatory Reporting requirements

• Partner with LECs on month-end close processes for core FRB reporting entities to understand emerging accounting issues/adjustments and their impact to Regulatory Reporting processes

• Drive awareness level of LECs to regulatory developments and guidance impacting regulatory reports and processes

• Assist in automation activities, process improvements and the development of new business requirements and ensure each conforms to the existing control environment

• Assist with manual data collection efforts and the development of controls to ensure completeness and accuracy across all federal reserve regulatory reports

• Lead the identification and documentation of reporting differences between US GAAP and Regulatory Accounting Principles (RAP) in collaboration with LECs for core FRB reporting entities and reports

• Partner closely with the Technology, Finance, Risk & Control, Operations, Capital Adequacy, CCAR and Product Control teams to understand, improve and automate the reporting processes

• Collaborate with LECs on the preparation of quarterly management analytical packages for core FRB reporting entities to facilitate proactive analytical review of regulatory reports

• Prepare ad-hoc analysis substantiating existing reporting as requested by regulatory, audit and management inquiries

• Interface with exam teams (both internal and external) and facilitate their understanding of reporting including supporting processes

• Documentation of processes, procedures, governance and controls across reporting entities including impact of proposed new business, products and strategic transactions on an ongoing basis in collaboration with LECs

• Work with regulatory team leaders to research and document key rule interpretation decisions

• Prepare and maintain US GAAP to RAP reconciliation schedules with relevant support

• Partner with reporting teams during User Acceptance Testing to ensure control implementation

• Perform data validation with the goal of developing controls for reporting consistency and/or identify or raise automation initiatives and report progress to management

Who are we looking for ?

• Candidates with Minimum 3 - 5 years of experience in the financial services industry

• Degree in Accounting/Finance/Economics

• Broad comprehension of Capital Markets and Financial Services Industry

• Experience using Axiom or similar Regulatory Reporting tools

• Experience in US GAAP Financial Statement preparation and Bank Regulatory Reporting

• Independent & Critical thinker with an ability to work in a fast-paced team environment

What’s in it for you?

We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper. We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.

• A comprehensive Total Rewards Program including bonuses and flexible benefits, competitive compensation, commissions, and stock where applicable

• Leaders who support your development through coaching and managing opportunities

• Ability to make a difference and lasting impact

• Work in a dynamic, collaborative, progressive, and high-performing team

• Opportunities to do challenging work

• Opportunities to building close relationships with clients

The good-faith expected salary range for the above position is $80,000 - $130,000 depending on factors including but not limited to the candidate’s experience, skills, registration status; market conditions; and business needs.  This salary range does not include other elements of total compensation, including a discretionary bonus and benefits such as a 401(k) program with company-matching contributions; health, dental, vision, life and disability insurance; and paid time-off plan.

RBC’s compensation philosophy and principles recognize the importance of a highly qualified global workforce and plays a critical role in attracting, engaging and retaining talent that:

·       Drives RBC’s high performance culture

·       Enables collective achievement of our strategic goals

·       Generates sustainable shareholder returns and above market shareholder value

Job Skills

Audits Compliance, Critical Thinking, Detail-Oriented, Financial Analysis and Reporting, Industry Knowledge, Internal Controls, Knowledge Organization

Additional Job Details

GOLDMAN SACHS TOWER, 30 HUDSON STREET:JERSEY CITYJersey CityUnited States of America40Full timeOffice of the CFORegularSalaried2023-12-142023-12-18