Business Control Specialist - Business Lending

Bank of America•Phoenix, AZ

1d•Onsite

About The Position

This role executes internal control discipline and operational excellence within a Line of Business or Enterprise Control Function. It provides analytical and administrative support for business-specific processes and tools to promote adherence to enterprise-wide standards. The position supports quality assurance and quality control by gathering and organizing data to identify, track, and report issues and control improvements for remediation. The specialist performs quality inspection reviews, control testing and monitoring, case management, and results reporting. The role also supports operational research for regulatory exams, internal audits, and other monitoring and inspection reviews, and captures relevant information for governance and dashboard reporting. It requires loan or account administration and processing experience, familiarity with loan setup and servicing, effective communication, attention to detail, and proficiency with multiple systems and common Microsoft Office tools.

Requirements

At least 2 years of experience in loan or account administration/processing, or equivalent experience.
Effective listening, verbal, and written communication skills.
Working knowledge of Microsoft Excel, Word, and PowerPoint, with dual screens.
High school diploma, GED, secondary school qualification, or equivalent.

Nice To Haves

Commercial or wholesale lending experience.
Experience in account setup and loan servicing.
General knowledge of loan structures, loan agreements, and credit regulations.
Proficiency with mainframe and PC software packages.
Ability to identify data from varied paper-based and electronic sources for loan-system entry.
Ability to contribute new ideas, work across diverse viewpoints, and develop innovative solutions.
Experience connecting with diverse clients to understand future business needs and a commitment to continuous learning.
Commitment to challenging the status quo, promoting positive change, and collaborating on tools, technology, and ways of working.
Appreciation for diversity and its value in meeting the needs of clients and employees.

Responsibilities

Enter data from paper-based and electronic sources into the loan system of record.
Identify and promptly escalate quality assurance findings through appropriate communication channels.
Communicate quality assurance findings clearly and concisely.
Own and follow up promptly on defect remediation, and address disputes professionally in accordance with processes and procedures.
Support project work across multiple teams and sites; identify process gaps and recommend solutions in compliance with applicable laws and regulations.
Use multiple systems to validate accuracy and support technology initiatives and improvements.
Identify, manage, and control risks in the fulfillment space in accordance with applicable laws, regulations, the company’s code of conduct, and relevant risk and policy frameworks.
Assess the design and effectiveness of the risk and control environment supporting Client Operational Services and adherence to enterprise-wide standards.
Provide administrative support for control monitoring and testing by gathering and organizing data to identify issues and control improvements for remediation.
Comply with controls and quality assurance practices that support business continuity.
Conduct and coordinate quality inspection reviews to improve employee performance and control effectiveness.
Perform quality assurance activities, including executing controls, managing cases, and reporting results.
Support initiatives by identifying potential procedural updates, test script updates, and data discrepancies.
Conduct operational research for regulatory exams, internal audits, and other monitoring and inspection reviews, and capture information relevant to inspection metrics and governance dashboard reporting.
Collaborate effectively with others and maintain positive working relationships.