Business Control Manager

Bank of America • New York, NY

2d • $117,000 - $171,600 • Onsite

About The Position

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day. Being a Great Place to Work is core to how we drive Responsible Growth. This includes our commitment to being an inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve. Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations. At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. 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.

Requirements

• Financial controller experience in the investment banking / sales & trading industries enforcing control topics such as but not limited to GAAP/IFRS Accounting, P&L Attribution, Fair Valuation, Prudent Valuation, Financial & Regulatory Disclosure, etc
• Clear understanding of Issue Management principles (e.g., Audit-Identified Issue, Regulator-Identified Issue, etc) including identification, severity disposition, root cause analysis & action planning
• Practical experience identifying, investigating, challenging, root cause diagnosing &/or action planning Operational Event observations
• Enthusiasm for navigating, interpreting, challenging & ensuring adherence to detailed Law, Rule, Regulation & Policy based risk management & control frameworks

Nice To Haves

• Industry relevant bachelor’s degree, or greater
• Ability to influence across a large, complex organization across multiple internationally located stakeholders
• Strong governance discipline and comfort owning risk escalations
• Appreciation for the interconnectivity of various risk components applicable to investment banking and sales & trading commercial activity (market, credit, valuation, operational, compliance, etc)
• Ability to synthesize program risk posture for senior executives
• Skilled in creating concise and powerful risk & control management communications

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

Benefits

• This role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.
• This role is currently benefits eligible.
• We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.
• Bank of America is committed to help employees through the transition period when they’re displaced as a result of a workforce reduction, realignment or similar measure.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Number of Employees: 5,001-10,000 employees