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Senior Business Controls Manager - Regulatory Management Team

Bank of America

Bank of America

Legal
Charlotte, NC, USA · Boston, MA, USA · United States · Remote
Posted on Friday, July 5, 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!

Job Description:
This job is responsible for leading and executing on internal control discipline and operational excellence within a Line of Business (LOB) or Enterprise Control Function (ECF). Key responsibilities include executing LOB or ECF processes and tools to drive adherence to enterprise-wide standards. Job expectations include supporting the implementation of quality assurance and quality control processes within the LOB or ECF through ongoing monitoring and testing of controls, identifying issues and control improvements for remediation, and building out actions plans and milestones.


The Enterprise Credit Commercial Business Control Manager will lead a team responsible for executing Regulatory Management duties.

Responsibilities:

• Leads the assessment of the design and effectiveness of the risk and control environment to support Client Operational Services and ensure adherence to enterprise-wide standards
• Performs monitoring and testing of controls, identifying issues and control improvements for remediation
• Leads the implementation of optimized controls and enhanced Quality Assurance (QA) practices to support business continuity efforts
• Manages the performance and productivity of team members that conduct quality inspection reviews
• Ensures timely execution of QA activities including control execution, case management, and results reporting
• Manages and reviews all operations front line unit responses for regulatory exams, internal audits, and other monitoring and inspection reviews
• Ensures accuracy of data and that relevant information is captured for inspection metrics to support governance for dashboard reporting
• Providing coaching, mentorship and leadership to a team of associates
• Providing guidance on required data to ensure compliance with the designated regulations.
• Leading or participating with work team developing updates to any Front Line Until (FLU) procedures for the designated regulation
• Assisting with ad-hoc requests and prioritizing workload accordingly
• Partnering with control partners on annual assessment of Policy and Standards to assess impact to the line of business within Enterprise Credit
• Support the overall management of and research required for regulatory exams, internal audits, and other monitoring and inspection reviews and evaluates data and information relevant to inspection metrics to support governance activities for dashboard reporting

Skills:

• Controls Management
• Risk Management
• Strategy Planning and Development
• Stakeholder Management
• Continuous Improvement
• Drives Engagement
• Influence
• Strategic Thinking
• Talent Development
• Monitoring, Surveillance, and Testing
• Quality Assurance
• Data and Trend Analysis
• Decision Making
• Problem Solving

Required Qualifications:

• Ability to work independently and self-manage multiple tasks at once
• Strong communication and collaboration skills
• Ability to lead and execute while maintaining a positive and energetic attitude during times of pressure, adversity, or change
• Candidate must be highly organized
• 7-10 years experience in either credit underwriting, credit operations with a specific focus on Regulatory Management preferred
• Participant must have the ability to solve complex problems, be detail oriented, and demonstrate a high regard for data accuracy
• Proficient in Outlook, Excel, SharePoint, PowerPoint and WebEx skills
• Ability to navigate credit agreements, collateral documentation and loan documents

Desired Qualifications:
• Working knowledge of regulatory environment
• Familiarity with commercial/corporate loan agreements
• Experience in Commercial Banking, credit underwriting, monitoring and collateral analysis and familiar with credit policy and procedures
• Regulatory, audit, and/or issue management experience

Shift:

1st shift (United States of America)

Hours Per Week:

40