Regulatory Compensation Specialist

Job Description:

Job Title: Regulatory Compensation Specialist
Corporate Title: AVP
Location: London / Chester

Company Overview:
At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day.

One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We’re devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.

Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.

Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us!

Location Overview:
Our London office is based just a stone’s throw from the magnificent St. Paul’s Cathedral on bustling King Edward Street. Here you’ll find modern workspaces and a state-of-the-art auditorium space. In addition, we’re proud to host an onsite restaurant that shares our commitment to sustainability by providing delicious seasonal menus which have been created with the planet in mind. Make sure to take time for yourself and head up to our rooftop terrace and take in the spectacular views across London. Finally, your physical wellness is well-catered for with our onsite gym facilities and medical centre.

Job Description:
The role will sit in the EMEA Regulatory Compensation team, which sits within the broader EMEA Compensation & Benefits team of the Bank. The EMEA Regulatory Compensation team is responsible for ensuring that the Bank compensation policies and practices comply with applicable EMEA regulatory requirements. This includes monitoring any new regulatory developments, working in partnership with a wide range of stakeholders internally to implement new requirements, and reporting to EMEA regulators and remuneration committees as appropriate.

The EMEA Regulatory Compensation Specialist will provide support to the team on a broad range of topics including regulatory reporting, regulatory submissions, remuneration committee reporting, automation projects, and audits & controls on the application of Material Risk Taker compensation rules.

The Team:
Bank of America’s Global Human Resources team is looking to hire an EMEA Regulatory Compensation Specialist in London or Chester. This is an exciting opportunity to join an experienced and supportive team, with significant exposure to EMEA compensation regulations, and with interactions with a wide range of stakeholders including, but not limited to, the EMEA Compensation & Benefits team, the broader EMEA Human Resources team, as well as colleagues from EMEA and Global Regulatory, Legal, Corporate Secretary, Finance, Risk, and Compliance teams.

Responsibilities:
Responsibilities will include:

1. Lead the preparation of remuneration regulatory reports and disclosures.
2. Supporting the preparation of reports for local remuneration committees and boards across EMEA.
3. Support the application of the MRT rules at year-end including by performing relevant audits and controls as appropriate.
4. Partnering with colleagues in EMEA and globally to deliver specific compensation regulatory projects, including automation projects.
5. Staying up to date on relevant regulations across the UK & EU and helping ensure that the Bank’s remuneration reports are compliant.
6. Ensuring appropriate governance and controls, and documentation of internal compliance assessments.
7. Contribute to ad hoc projects and research for the broader EMEA Compensation & Benefits team.

Required Qualifications:

• Exceptional attention to detail.
• Highly proficient in Microsoft Excel and comfortable managing large and complex datasets.
• Prior experience in UK & EU regulatory compensation landscape preferred but not obligatory.
• Excellent analytical and problem-solving abilities.
• Ability to take initiative and drive deliverables.
• Experience of compensation practices within a large multinational financial services firm.
• Excellent communication skills, with ability to summarise and articulate complex legislation/process/data into easily understood information.
• Ability to work effectively independently and as part of a remote team.
• Proven ability to engage a wide variety of audiences in a collaborative and results-oriented manner.
• Ability to work in a matrix environment, manage multiple stakeholders simultaneously and escalate as appropriate.
• Proficient in other Microsoft applications (Powerpoint, Word).
• Excellent project management and organisational skills.
• Commercial acumen.

Benefits:
Private healthcare for you and your family plus an annual health screen to help you manage your physical wellness with the option to purchase a screen for your partner. Competitive pension plan, life assurance and group income protection cover if you become unable to work as a result of a disability or health reasons. 20 days of back-up childcare including access to school holiday clubs and 20 days of back-up adult care per annum. The ability to change your core benefits as well as the option of selecting a variety of flexible benefits to suit your personal circumstances including access to a wellbeing account, travel insurance, critical illness etc. Access to an emotional wellbeing helpline, mental health first aiders and virtual GP services. Access to an Employee Assistance Program for confidential support and help for everyday matters. Ability to donate to charities of your choice directly through payroll and the bank will match your contribution. Opportunity to access our Arts & Culture corporate membership program and receive discounted entry to some of the UK’s most iconic cultural institutions and exhibitions. Opportunity to give back to your community, develop new skills and work with new groups of people by volunteering in your local community.

Bank of America is an equal opportunities employer and ensures that no applicant is subject to less favourable treatment on the grounds of sex, gender identity or gender reassignment, marital or civil partner status, race, religion or belief, colour, nationality, ethnic or national origins, age, sexual orientation, pregnancy or maternity, socio-economic background, responsibility for dependants or physical or mental disability. The Bank selects candidates for interview based on their skills, qualifications and experience. We strive to ensure that our recruitment processes are accessible for all candidates and encourage any candidates to tell us about any adjustment requirements.