Testing Specialist II – Licensed Appraiser

Bank of America • Charlotte, NC

4d • $62,000 - $101,900 • 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 accurate and timely test development and execution and/or supporting operational and administrative activities related to the end to end test execution process. Key responsibilities of the job include executing high quality testing in accordance with the test script, documenting and escalating defects, preliminary reporting and analysis of results, and collaborating with Compliance and Operational Risk officers and/or Front Line Unit (FLU) process owners on the identification of themes and trends at the Front Line Unit (FLU), control function and Enterprise level. Team Overview: Global Risk Analytics (GRA) and Enterprise Independent Testing (EIT) are sub-lines of business within Global Risk Management (GRM). Collectively, they are responsible for developing a consistent and coherent set of models, analytical tools, and tests for effective risk and capital measurement, management and reporting across Bank of America. GRA and EIT partner with the Lines of Business and Enterprise functions to ensure the capabilities it builds address both internal and regulatory requirements, and are responsive to the changing nature of portfolios, economic conditions, and emerging risks. In executing its activities, GRA and EIT drive innovation, process improvement and automation. Enterprise Independent Testing develops and executes tests used to evaluate the effectiveness of Bank of America’s processes and controls. Testing coverage spans across all Lines of Business from Consumer to Global Markets, multiple Products (e.g., card, mortgage, derivatives), Regulations (e.g., Reg W, Dodd Frank), and Enterprise Processes (e.g., Fraud, AML, Payments, Complaints), providing an opportunity for candidates to gain wide exposure to how the Bank operates. Role Overview: We are looking for a Licensed Appraiser to join our team. The role is responsible for accurate and timely test execution, as well as results aggregation/dissemination. The role will operate as part of a larger testing team and will collaborate with process owners in the Front-Line Units to analyze and communicate results from tests performed; and providing ongoing evaluation of test effectiveness ensuring that tests remain effective in evaluating the effectiveness of processes and controls, and adherence to applicable laws, rules, regulations, policies, and procedures.

Requirements

• Licensed in at least state of residence
• High level of intellectual curiosity
• Ability to adjust to new conditions and changes effectively
• Capacity to notice and consider all aspects or a task or project
• Work effectively with others toward a common goal
• Identify challenges and develop effective solutions
• Ensure sensitive information is securely handles and compliant with regulations
• Affect others' opinions, behaviors, or decisions
• Compile and present data and insights in a clear and actionable format
• Interpret Relevant Laws, Rules, and Regulations and ensure we are meeting the specified requirements
• Feels ownership and accountability for delivering high quality work, able to prioritize effectively, adapt, and meet strict deadlines
• Bachelor’s degrees or above in fields including but not limited to: Finance, Economics, Mathematics, Computer Science, Statistics, Process and Mechanical Engineering, Operations Research, Data Science, Accounting, Business Administration (or equivalent work experience)
• 5+ years of relevant work experience
• Certified Licensed Real Estate Appraiser
• Able to document and verbally explain the intuition and details behind the methodologies in a manner that is clear, concise, and consumable for a broad set of audiences that include key stakeholders across the Bank, as well as auditors and regulators
• Knowledge of financial services industry and related regulations
• Digital fluency
• Experience implementing process improvements

Responsibilities

• Examines loan collateral documentation for accuracy and completeness
• Evaluates complex residential loan appraisals ensuring compliance with appropriate company and secondary market investor standards, i.e., FM Conforming, Nonconforming, FHA, VA, Custom Accountable for accurate and timely test execution
• Execute testing requiring administrative judgment in the execution of complex testing according to the determined scope
• Independently identify risk defects and root cause for finding placement and details defects
• Examine loan documentation for accuracy and completeness
• Provide training and direction to more junior staff as appropriate
• Elevate errors and recommends enhancements as appropriate
• Review reversal requests/arbitration appeals as well as analyze results
• Work special projects as necessary
• Subject Matter Expert (SME) on appointed tests collaborating with business partners, etc.
• Perform Quality Assurance Testing
• Contributes to Test Development Intakes as needed, including test script edits and pilot testing
• Create and submit redlined test scripts for Simple Path processing
• Point-of-contact for Support Lead or assist Testing Lead when needed

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: Mid Level
• Number of Employees: 5,001-10,000 employees