Business Control Specialist

Bank of America•Plano, TX

7d•Onsite

About The Position

This job is responsible for executing on internal control discipline and operational excellence within a Line of Business (LOB) or Enterprise Control Function (ECF). Key responsibilities include providing analytical and administrative support for LOB or ECF specific 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 by gathering and organizing data to help identify, track, and report issues and control improvements for remediation. The analyst is responsible for performing Quality Assurance reviews on Commercial Loan in Middle Market, Business Banking, Special Assets Group, Small Business and Practice Solutions for fulfilment and/or servicing teams. Responsibilities include: Ability to accurately interpret loan agreements and validate accurate set up in System of Record (Client set up / Facility/loan set up) Verify terms and conditions within the loan agreement, renewal or amendment are displayed correctly on the commercial loan platform Verify accrual schedules are set up correctly for the life of the loan

Requirements

Proficient in identifying data entry from a variety of sources, paper-based and/or electronic, into the loan system of record.
Should have experience in account setup and loan servicing. Commercial/wholesale lending preferred.
Have a general knowledge of loan structure, loan agreements and credit regulations.
Have a general knowledge of loan accounting/reconciliation of general ledger debits and credits, including research and clearing exceptions on processed transactions
Identify and escalate quality assurance findings promptly, following appropriate communication channels
Communication - clear and concise communication of quality assurance findings.
Drive execution - ownership and prompt follow up on defect remediation; debate of disputes in a professional manner and in accordance with process and procedures.
Drive Change - support project work across multiple teams/sites. Influence change by identifying process gaps and recommending appropriate solutions – in compliance with current laws and regulation.
Technology – commitment to technology initiatives and improvements.
Proficient computer skills utilizing mainframe and PC software packages; Working knowledge of Microsoft Excel, Word, Power-Point with dual screens.
Capability to work with multiple systems in order to validate accuracy
Collaborates – works effectively with others by establishing and maintaining positive working relationships
Act in accordance with the letter and spirit of all applicable laws, rules and regulations, the company’s code of conduct, risk framework, risk appetite statement and other relevant policies, standards, procedures and guidance. Is proactive in identifying, managing and controlling risks within the fulfillment space.
Intermediate accounting skills
Minimum of 1 to 2 years of experience in the field of loan or account administrator/processor or equivalent (Commercial /wholesale lending preferred.
Effective communication skills (listening, verbal and written)
Working knowledge of Microsoft Excel, Word, Power-Point with dual screens.

Nice To Haves

College degree preferred

Responsibilities

Assesses the design and effectiveness of the risk and control environment to support Client Operational Services and ensure adherence to enterprise-wide standards
Provides administrative support for the monitoring and testing of controls by gathering and organizing data to identify issues and control improvements for remediation
Complies with controls and Quality Assurance (QA) practices to support business continuity efforts
Conducts and coordinates quality inspection reviews to enhance employee performance and control effectiveness
Performs QA activities including executing on controls, managing cases, and reporting results
Supports initiatives by identifying potential procedural updates, test script updates, and data discrepancies to enhance QA program success
Supports operational research required for regulatory exams, internal audits, and other monitoring and inspection reviews and captures data and information relevant to inspection metrics to support governance activities for dashboard reporting