Enterprise Financial Risk Capital Risk Sr. Specialist

Bank of America•Charlotte, NC

38d•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 assisting in providing risk oversight and advice to the Line of Business (LOB) on risk management issues. Key responsibilities include monitoring and adhering to risk management policies, limits, standards, controls, metrics and thresholds within the defined corporate standards, assisting in conducting execution of risk framework activities including independent monitoring and testing of controls and risk management processes for the LOB. Job expectations include the ability to recognize all risk categories including credit, market, operational, and compliance. Enterprise Financial Risk (EFR) Overview Enterprise Financial Risk (EFR) seeks to deliver effective independent risk management of the activities and processes associated with managing the Company’s capital, liquidity and interest rate risks, including price risk in the CFO managed securities portfolio. As the Chief Risk Officer (CRO) function covering the Chief Financial Officer (CFO) Group, we also bring together a holistic point of view across all seven risk types for the Company’s CFO. The team helps Bank of America grow responsibly through developing our teammates, promoting an inclusive culture, and approaching our work with intellectual curiosity. EFR delivers its mission through a steadfast commitment to its values: cultivating diversity of thought and valuing different perspectives and experiences; promoting learning, fostering relationships and creativity; and developing talent, advancing careers, and creating leaders within Global Risk Management and across the company. Our goal is to ensure that a healthy and sustainable liquidity, capital, and interest rate risk (IRR) profile is maintained through baseline economic scenarios, as well as during times of market and idiosyncratic stress. Department Overview: Enterprise Capital Risk Management (ECRM) is a department within Enterprise Financial Risk (EFR). This group is responsible for providing an independent assessment of Bank of America’s capital adequacy and risks to our capital position, as described within BAC’s Risk Framework. The department provides an independent perspective on the effective utilization of Bank of America’s capital resources as well as independent oversight of the firm’s capital management activities and the related processes that impact both legal entities and lines of business. Role Summary: Operating within BAC’s Risk Framework, understand and drive components of the end-to-end Capital/Capital Risk management process/program for the Enterprise. As a Risk horizontal team, it is our role to ensure the Enterprise adheres to our Capital Management policy and capital regulations. Key components of the Capital/Capital Risk Management program include appropriate risk identification and risk monitoring processes across the 8 lines of business and legal entities, effective forecasting and stress testing processes across a range of scenarios, appropriate capital positioning across legal entities and accurate capital and risk-weighted asset calculations.

Requirements

Strong analytical skills, including both analysis of financial data and written reports as well as regulatory rules and guidance
3-5 years of Treasury, Finance, Accounting or Risk Management experience; knowledge of capital rules and application of the rules
Proficiency with PowerPoint, Word and Excel. Writes in a clear, concise, organized, and convincing manner for the intended audience
Experience with SQL or other programming languages. Role may require querying databases and capital data analysis
Strong business-centric mindset with ability to utilize sound business judgment and tailor approach to drive optimal business outcomes

Responsibilities

Assists in establishing and overseeing the risk management governance structure for the Line of Business (LOB)
Assists in conducting execution of risk framework activities including monitoring and testing of controls and risk management processes for the LOB
Liaisons with businesses to understand market trends and impacts on portfolio, using knowledge of stress testing and its applicability to risk categories
Ensures adherence to the policies and procedures established by the company
Supports the management of risk requests, breach remediations and providing risk effective challenges for front line units
Review and challenge key capital management activities, including banking book risk-weighted assets (RWA) calculations and implementations
Review Business Requirement Documentation and technology tools/capital calculators for alignment with U.S. Basel rules
Review and challenge data related to capital calculations, including exposure categorization and trends in RWA usage
Assess capital risks related to new products and transaction types

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.

Stand Out From the Crowd

Upload your resume and get instant feedback on how well it matches this job.

Upload and Match Resume