Risk Management Executive

Bank of America • Charlotte, NC

35d • 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 providing risk oversight, advice, and counsel to a line of business. Key responsibilities include establishing risk management policies, limits, standards, controls, metrics and thresholds within the defined corporate standards. Job expectations include the ability to recognize all risk categories including credit, market, operational and compliance leveraging risk expertise. This job is responsible for providing risk oversight, advice, and counsel to a line of business. Key responsibilities include establishing risk management policies, limits, standards, controls, metrics and thresholds within the defined corporate standards. Job expectations include the ability to recognize all risk categories, primarily operational and compliance. The primary focus of this job is to provide risk and process oversight for Enterprise Independent Testing (EIT), which is the company’s centralized testing utility that conducts tests to help identify operational or compliance risks. Risk oversight includes setting strategic direction and developing and maintaining a robust testing program that meets regulatory requirements and supports enterprise risk objectives. Process oversight (which may include serving as a Process Owner or Process Delegate) entails managing the entire process lifecycle to ensure operational efficiency, effectiveness, and alignment with organizational goals.

Requirements

• Process Design and Management
• Continuous Improvement
• Stakeholder Engagement
• Collaboration
• Analytical Thinking
• Critical Thinking
• Portfolio Analysis
• Issue Management
• Written Communications
• Oral Communications
• Presentation Skills
• Technical Documentation
• Monitoring, Surveillance, and Testing
• Regulatory Compliance
• 15+ years of industry experience
• Bachelor’s degree in business or related field or commensurate experience
• Leading strategic and change initiatives
• Managing diverse stakeholders with competing interests
• Understanding enterprise policies, programs, procedures, and systems
• Prioritizing competing demands, managing multiple priorities and executing goals

Nice To Haves

• MBA or equivalent a plus

Responsibilities

• Oversees the establishment of risk management procedures and standards
• Provides guidance and insight into the execution of risk framework activities including independent monitoring and testing of controls and risk management processes for the Line of Business
• Understands 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
• Oversees risk requests, breach remediations and providing risk effective challenges for front line units
• Gives counsel on risk management analyses, reports, and approval procedures and guidelines on risk limits by type of product and/or transaction
• Sets strategic direction, develops and maintains a robust testing program that meets regulatory requirements and supports enterprise risk objectives
• Understands and manages process(es) in accordance with the Process Management – Enterprise Policy and related guidance
• Identifies and manages standardized risks inherent in process(es) and establishes controls to reduce the inherent risk of process failure and unanticipated outcomes
• Assesses process and control performance, remediates deficiencies in processes or controls, and measures the effectiveness of each control
• Identifies, manages, and/or oversees Issues and Control Enhancements in accordance with the Issues and Control Enhancements – Enterprise Policy and related guidance
• Engages stakeholders to understand trends and impacts on portfolio

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.

What This Job Offers

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