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Senior Business Control Specialist

Charlotte, North Carolina;Jacksonville, Florida; Scranton, Pennsylvania

Job Description:

ABOUT US:

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day.

One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We’re devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.

Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.

Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. 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.

LOB Specific Job Description:

The candidate will support the Global Credit Operations team. This role requires a strong operational risk and compliance background, and understanding of Commercial products. Acts as an ambassador of the risk culture. Incumbents typically have a minimum of 3 years of quality assurance, compliance, audit, and/or business controls experience.

The candidate will collaborate with existing team members and parallel organizations to evaluate existing technology and design future enhancements. Main objectives of the team are to promote a strong Risk Culture, establish sound risk management processes to effectively identify, measure, monitor, and control risk, and ensure we have proper Risk Governance in place to communicate, escalate, and debate risks.

The successful hire will leverage knowledge of Trade Finance Operations in this role.

RESPONSIBILITIES:

• Oversees the design and effectiveness of the risk and control environment to supportGlobal Credit Operationsand 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

• Role is responsible for engagement in risk oversight routines including:

• Adherence to enterprise-wide Policy and Standards

• Single Process Inventory (SPI) inventory risk oversight

• Risk Control Self-Assessment (RCSA)

• Vendor Management Risk

• Delegation of Authority (DOA) controls and governance

• Key Risk Indicators (KRI) reporting

• May be tasked to support high-priority industry and regulatory initiatives

• Support Audit, Exam and/or Testing processes, ensure proper governance and protocol is followed; assist with preliminary research and response tracking

• Supporting Issues Management and Operations Loss events.

REQUIRED QUALIFICATIONS:

• 3+ years of relevant risk management experience

• Demonstrate strong collaboration, influencing, and relationship management skills to bridge key stakeholders across Audit, Risk, GCOR and LOB SMEs

• Strong analytical, conceptual and problem solving skills – ability to drive root cause analysis, focus on details, identify issues, prioritize quickly and recommend solutions.

• Ability to balance multiple competing priorities in a fast-paced and complex environment.

• Advanced proficiency in various MS tools including Excel, Access, PowerPoint, and SharePoint (developer skills are desired).

• Strong written & oral communication and presentation skills; able to target messaging to different audiences; provide consolidated data in a clear and concise manner appropriate for all levels of management.

• Ability to quickly develop subject matter expertise across a broad spectrum of product and services.

• Be proactive in risk identification and mitigation through activity monitoring processes

• Ability to meet tight deadlines while working in a flexible environment.

DESIRED QUALIFICATIONS:

• Commercial Credit (Trade Finance, Loan, Equipment Finance or, Wholesale Flood and Insurance) experience including business process and applications.

• Working knowledge of laws, rules, and regulations and Bank of America Risk Framework.

• Experience working with external regulators and examiners.

• BS or BA, Masters degree a plus

SKILLS:

• Controls Management

• Issue Management

• Monitoring, Surveillance, and Testing

• Risk Management

• Quality Assurance

• Analytical Thinking

• Attention to Detail

• Critical Thinking

• Problem Solving

• Written Communications

• Recording/Organizing Information

• Decision Making

• Innovative Thinking

• Prioritization

• Research

Shift:

1st shift (United States of America)

Hours Per Week:

40

Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity and affirmative action, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other bases such as medical condition, marital status or any other factor that is irrelevant to the performance of our teammates.

To view the "EEO is the Law" poster, CLICK HERE (https://www.dol.gov/ofccp/regs/compliance/posters/pdf/eeopost.pdf) .

To view the "EEO is the Law" Supplement, CLICK HERE (https://www.dol.gov/ofccp/regs/compliance/posters/pdf/OFCCP_EEO_Supplement_Final_JRF_QA_508c.pdf) .

Bank of America aims to create a workplace free from the dangers and resulting consequences of illegal and illicit drug use and alcohol abuse. Our Drug-Free Workplace and Alcohol Policy (“Policy”) establishes requirements to prevent the presence or use of illegal or illicit drugs or unauthorized alcohol on Bank of America premises and to provide a safe work environment.

To view Bank of America’s Drug-free workplace and alcohol policy, CLICK HERE .