Risk Management Sr Specialist

Bank of America•Charlotte, NC

1d•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.

Requirements

5 + years of credit experience; preferably in consumer real estate
Ability to effectively collaborate, challenge and influence business partners and peers
Knowledge of consumer real estate policy and regulatory requirements
Proven record of risk detection / risk mitigation work
Executive-level written and oral communication skills
Ability to work well under pressure, adapt to unexpected events, prioritize and multi-task in a deadline driven environment.

Nice To Haves

Bachelor's Degree
Experience in underwriting complex home loans preferred
Skills: Analytical Thinking
Credit and Risk Assessment
Critical Thinking
Portfolio Analysis
Decision Making
Oral Communications
Presentation Skills
Technical Documentation
Written Communications
Active Listening
Issue Management
Liquidity Management
Monitoring, Surveillance, and Testing
Regulatory Compliance

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
The position requires extensive knowledge of credit risk and experience with consumer real estate products; first mortgage and home equity.
Must be intellectually curious driven to determine root cause by evaluating policy criteria as well as leveraging data to determine risk attributes potentially impacting underwriting due diligence as well as portfolio performance.
Will have credit approval authority to approve highly complex or high value transactions including exceptions outside approved Front Line Unit risk tolerances.
Responsible for independently or supporting other team members for oversight of credit risk activities: reviewing and approving credit policy changes; originations and portfolio analysis including performance monitoring; identification and analyzing of emerging risks, and other risk activities.
Direct and conduct ad-hoc evaluation/analysis of policy expansion request, emerging issues and regulatory items requiring interaction across partners for best outcome.
Active Credit Risk participant in related governance routines: regulatory, internal and across business segments.