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Risk Management Executive

Bank of America

Bank of America

Charlotte, NC, USA · Atlanta, GA, USA · Jacksonville, FL, USA · United States · Remote
Posted on Saturday, June 15, 2024

Job Description:

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!

Responsible for providing risk oversight and advice and counsel to the LOB. Establish risk management policies, limits, standards, controls, metrics and thresholds within the defined corporate standards. Ability to recognize all risk categories including credit, market, operational and compliance and bringing appropriate risk expertise as needed. Accountable for conducting execution of risk framework activities including, but not limited to, independent monitoring and testing of controls and risk management processes for the LOB. Establish and oversee the risk management governance structure for the LOB. May direct risk staff in establishing risk management procedures and standards, developing risk management analyses and reports, developing approval procedures and guidelines on risk limits by type of product and/or transaction, and in establishing management and administrative procedures to ensure adherence to policies.

The Risk Management Executive will be a key leader within the Regulatory Issues Management and Remediation Function, which resides within Global Risk Management. The Risk Management Executive will be responsible for quality assurance of a subset of regulatory issues (including Matters Requiring Attention) and will ensure that regulatory issue owners throughout the enterprise are achieving quality standards, meeting regulatory expectations, and delivering complete evidence packages. This Executive will contribute to design of reporting, routines, and information flows to ensure that the quality assurance function operates smoothly in relation to all other functions. This is an independent contributor role but is expected to direct and coordinate contractors and employees.

Responsibilities:

  • Participates in establishing risk management procedures and standards.
  • Ensures adherence to the policies and procedures established by the company.
  • Overseeing and directing the processes and controls for in-scope, in-line QA activities.
  • Work with the Regulatory Remediation Quality Assurance Deputy Lead to enhance existing processes and establish new processes, as necessary, for the In-line QA lifecycle including proper connect points with various peer Executives in Regulatory Relations, Issue Owner, and Regulatory Issues Steering Council groups.
  • Partner with Reg Issues Strategy & Enablement Executive and the Reg Issue Portfolio Executive to help issue owners to move an issue through the steps necessary to remediate on time, including timely completion of QA activities.
  • Revise, create (as needed) and maintain templates and other documentation that achieve greater consistency for all in-scope, in-line QA activities.
  • Provide effective challenge to issue owners regarding issue remediation planning, execution, and evidence packaging to ensure they are robust and address issue in question.
  • Communicate QA findings to issue owners, Internal Audit, and the Reg Remediation Quality Assurance Deputy Lead, and provide recommendations/escalation of broad themes and trends accordingly based on QA findings.
  • Develop communications to keep stakeholder informed of progress and changes to processes.
  • Help to ensure that learnings from Quality Assurance and remediation efforts are documented and incorporated into relevant training, processes, procedures, and templates.

Required Qualifications:

  • 10+ years of experience in financial services industry or experience in a related field
  • Demonstrated ability to engage and communicate at the executive level, establish, and maintain collaborative partnerships and provide thought leadership to strategic decisions.
  • Critical thinker with the ability to influence senior leaders across GRM and partners, including to challenge the status quo, produce appropriate changes and implement goals.
  • Significant business knowledge of risk management and regulatory interactions.
  • Strong analytical and organizational skills; focus on attention to detail.
  • Excellent written and verbal communication skills.
  • Strong horizontal leadership skills across peers as well as vertical leadership in a matrixed environment leading staff through an indirect reporting relationship; an individual who can lead a diverse associate population, inspire a strong sense of camaraderie and accountability, and motivate continuous improvements to performance. Able to attract, retain and develop top talent, strong coach.
  • Effectively packages and communicates complex content and information.
  • Can effectively navigate and deliver results in highly matrixed environment within Global Risk and beyond.

Skills:

  • Critical Thinking
  • Decision Making
  • Executive Presence
  • Talent Development
  • Issue Management
  • Liquidity Management
  • Oral Communications
  • Performance Management
  • Written Communications
  • Analytical Thinking
  • Change Management
  • Fiscal Responsibility
  • Presentation Skills
  • Regulatory Compliance

Shift:

1st shift (United States of America)

Hours Per Week:

40