Sr. Business Control Specialist

Bank of America•Charlotte, NC

3d•$70,000 - $104,400•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 driving and executing on internal control discipline and operational excellence within a Line of Business (LOB) or Enterprise Control Function (ECF). Key responsibilities include providing analytical and administrative support for LOB or ECF specific processes and tools to drive adherence to enterprise-wide standards. Job expectations include monitoring and testing controls and implementing quality assurance and quality control processes within the LOB or ECF by evaluating data to help identify, track, and report issues and control improvements for remediation. Responsibilities: Oversees the design and effectiveness of the risk and control environment to support Client Operational Services and ensure adherence to enterprise-wide standards Supports the monitoring and testing of controls by evaluating data to identify issues and control improvements for remediation Implements optimized controls and enhanced Quality Assurance (QA) practices to support business continuity efforts Conducts and coordinates quality inspection reviews to enhance employee performance and control effectiveness Performs QA activities including executing on controls, managing cases, and reporting results Executes initiatives by identifying areas of potential testing automation, procedural updates, thematic trends, test script updates, and coaching opportunities to enhance QA program success Supports the overall management of and research required for regulatory exams, internal audits, and other monitoring and inspection reviews and evaluates data and information relevant to inspection metrics to support governance activities for dashboard reporting LOB Job Description: The Business Control Specialist is responsible for FLU deliverables aligned to Client Protection’s Fraud and Claims Single Process Inventory (SPI)/Process Owner Portal (POP). Business Enablement & Controls SPI employee obtains, and documents required process data elements in Process Owner Portal (POP) required to meet Enterprise Process Management Policy, Standards, and guidelines. This data is critical to the organization’s risk framework and is assessed by Risk, Audit, and Regulators to ensure the inherent risks within the organization are sufficiently documented and controlled. Business Enablement and Controls SPI team members ensure, all documentation is recorded in collaboration with Process Owners, Delegates, Control and Metric Owners. This control discipline mitigates operational, financial, regulatory, and reputational risk to the Company.

Requirements

3+ years’ experience in a business control role supporting Process Owner Portal, Vendor Management, or Data Management.
Possesses deep knowledge of the risk framework, tools, and routines; ability to effectively identify and debate risks/controls.
Strong project management skills; attention to detail; ability to drive projects to conclusion.
Strategic thinker with problem-solving skills
Moderate to advanced knowledge performing data analytics
Controls Management
Issue Management
Monitoring, Surveillance, and Testing
Quality Assurance
Risk Management
Analytical Thinking
Attention to Detail
Critical Thinking
Problem Solving
Written Communications
Decision Making
Innovative Thinking
Prioritization
Recording/Organizing Information
Research

Nice To Haves

Knowledge of Client Protection Fraud and/or Claims processes and/or controls
Issue Management or Change Management knowledge or experience
Six Sigma green or black belt, process mapping, Failure Mode Effects Analysis, and other tools/methods
Effective communication and interpersonal skills
Ability to build strong relationships with business partners to become a trusted advisor.
Ability to work independently and in groups

Responsibilities

Oversees the design and effectiveness of the risk and control environment to support Client Operational Services and ensure adherence to enterprise-wide standards
Supports the monitoring and testing of controls by evaluating data to identify issues and control improvements for remediation
Implements optimized controls and enhanced Quality Assurance (QA) practices to support business continuity efforts
Conducts and coordinates quality inspection reviews to enhance employee performance and control effectiveness
Performs QA activities including executing on controls, managing cases, and reporting results
Executes initiatives by identifying areas of potential testing automation, procedural updates, thematic trends, test script updates, and coaching opportunities to enhance QA program success
Supports the overall management of and research required for regulatory exams, internal audits, and other monitoring and inspection reviews and evaluates data and information relevant to inspection metrics to support governance activities for dashboard reporting
The Business Control Specialist is responsible for FLU deliverables aligned to Client Protection’s Fraud and Claims Single Process Inventory (SPI)/Process Owner Portal (POP).
Business Enablement & Controls SPI employee obtains, and documents required process data elements in Process Owner Portal (POP) required to meet Enterprise Process Management Policy, Standards, and guidelines.
Business Enablement and Controls SPI team members ensure, all documentation is recorded in collaboration with Process Owners, Delegates, Control and Metric Owners.
Possesses deep knowledge of Bank of America’s risk framework and requirements for documenting data elements in Single Process Inventory.
Monitor, drive, execute action items cascaded by Enterprise Process Management, Risk, and Consumer SPI Leads as needed.
Lead and/or participate in working sessions executed with clear goals, while tracking decisions, rationales, and next steps.
Evaluate workflows to understand what, how, and why workflows are executed as described, and apply a risk mindset, think critically, and make sound decisions to support process documentation according to Process Management and Risk Management Policy/Standards.
Leverage process management tools and methods to develop and maintain existing process documentation and identify undocumented business processes owned by Client Protection.
Ability to work in a fast-paced environment, often with a high degree of ambiguity and prioritization of multiple tasks.
Capability to learn fast and demonstrate critical thinking while applying attention to detail.
Ability to build strong relationships with business partners required to gain process knowledge and become a trusted advisor.
Demonstrated ability to develop business cases and influence change.
Strong organizational skills and the ability to execute SPI/POP action items within EPM and internal SLAs.

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.

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