Risk Management Manager - Enterprise Independent Testing

Bank of America • Chicago, IL

105d • $115,000 - $181,400

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! This job is responsible for providing risk oversight and advice to the Line of Business (LOB) on risk management issues. Key responsibilities include identifying risks to which the LOB is exposed, implementing measures to prevent and mitigate losses, and monitoring risk outcomes. Job expectations may include the ability to recognize all risk categories including credit, market, operational and compliance, as well as directing risk staff or participating in establish risk management procedures and standards. The main area of focus for this job is to provide process oversight for the Enterprise Independent Testing (EIT) LOB, which is the company’s centralized testing utility that conducts tests to help identify operational or compliance risks. This process oversight responsibility is accountable for overseeing the process lifecycle, ensuring efficiency, effectiveness and alignment with organizational goals.

Requirements

• 10+ years of industry experience
• Bachelor’s degree in business or related field or commensurate experience (MBA or equivalent a plus)
• 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

Responsibilities

• Understands information associated with their process in accordance with the Process Management – Enterprise Policy
• Identifies and manages standardized risks inherent in their process
• Identifies controls designed 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
• Reviews the process overall control effectiveness rating and individual control design, performance and effectiveness ratings
• Participates in establishing risk management procedures and standards
• Conducts execution of risk framework activities including independent monitoring and testing of controls and risk management processes for the Line of Business (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
• Manages risk requests, breach remediation and providing risk effective challenges for front line units
• Develops risk management analyses, reports, and approval procedures and guidelines on risk limits by type of product and/or transaction

Benefits

• Industry-leading benefits
• Access to paid time off
• Resources and support to employees
• Discretionary incentive eligible
• Annual discretionary award based on individual performance results and behaviors

What This Job Offers

• Job Type: Full-time
• Career Level: Senior
• Education Level: Bachelor's degree