Operational Risk and Control Risk Lead-Global Markets-Global Operations
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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!
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:
Job Summary
Provide analytical support in executing internal control discipline and operational excellence across various LOB/ECF. Gather and organize data in order to monitor and test the effectiveness of key controls and status of mitigation and action plans. Prepare documentation for the tracking, monitoring, and escalation of risk related issues to management. Acts as an ambassador of the risk culture. Incumbents typically have over 5+ years of risk management and/or Global Market Operations Line of Business experience.
The Operational Risk & Control (OR&C) team is seeking a candidate to support its Shared Operations Lines of Business. The OR&C team is responsible for the implementation of operational risk management policies, procedures, and standards for Global Markets Operations Globally. The team is directly accountable for Risk and Control issues of the Lines of Business it supports and also works with Corporate Operational Risk to implement GT&O Enterprise Risk standards. Key goals of the team are 1) promote a strong Risk Culture, 2) understand our Risk Profile and Risk Appetite, 3) establish sound risk management processes to effectively identify, measure, monitor, and control risk, and 4) ensure we have proper Risk Governance in place to communicate, escalate, and debate risks.
Responsibilities:
As a member of the Global Market Operations Risk & Control team, the position will be responsible for functions supporting the Shared Operations Line of Business. Responsibilities include:
Perform root cause analysis of operational events and challenge control weaknesses and breakdowns to properly assess risk disposition
Understanding of operational processes: risks, controls and control metrics
Institute routines to oversee progress of risk mitigation efforts and mange timelines for issue closure
Score risk issues in accordance with Bank of America Risk Framework and guidelines
Draft issue summaries and detailed action plans to document remediation approach
o Enter issues formally into the Issue Management System of Record
o Collect and perform independent QA of evidence submitted for issue closure
o Perform issue status reporting for various audiences
o Perform trend analysis and horizontal impact assessments to determine themes and identify emerging risks
o Support lines of business through routine exams with regulators and internal audit
Required Skills
5+ Years of risk management and/or Global Market Operations Experience
Excellent written and verbal communication skills - ability to tailor messaging to senior management
Able to understand, analyze, and explain complex workflows
Self-Starter who can work independently with little guidance or direction
Ability to meet tight deadlines while working in a flexible environment
Attention to laws, rules & regulations
High technical expertise in MS Office platforms
Desired Skills
Audit, Global Markets, and/or Finance/Accounting experience
Project management experience
Ability to analyze, comprehend, and document complex processes
Highly analytical - Able to work with large data sets and workflows
Skills:
Shift:
1st shift (United States of America)
Hours Per Week:
40
Pay Transparency details
US - NY - New York - 1100 Ave Of The Americas - Two Bryant Park (NY1540)
Pay and benefits information
Pay range
$62,100.00 - $103,900.00 annualized salary, offers to be determined based on experience, education and skill set.
Discretionary incentive eligible
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.
Benefits
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.
Learn more about this role
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!
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
Job Summary
Provide analytical support in executing internal control discipline and operational excellence across various LOB/ECF. Gather and organize data in order to monitor and test the effectiveness of key controls and status of mitigation and action plans. Prepare documentation for the tracking, monitoring, and escalation of risk related issues to management. Acts as an ambassador of the risk culture. Incumbents typically have over 5+ years of risk management and/or Global Market Operations Line of Business experience.
The Operational Risk & Control (OR&C) team is seeking a candidate to support its Shared Operations Lines of Business. The OR&C team is responsible for the implementation of operational risk management policies, procedures, and standards for Global Markets Operations Globally. The team is directly accountable for Risk and Control issues of the Lines of Business it supports and also works with Corporate Operational Risk to implement GT&O Enterprise Risk standards. Key goals of the team are 1) promote a strong Risk Culture, 2) understand our Risk Profile and Risk Appetite, 3) establish sound risk management processes to effectively identify, measure, monitor, and control risk, and 4) ensure we have proper Risk Governance in place to communicate, escalate, and debate risks.
Responsibilities:
As a member of the Global Market Operations Risk & Control team, the position will be responsible for functions supporting the Shared Operations Line of Business. Responsibilities include:
Perform root cause analysis of operational events and challenge control weaknesses and breakdowns to properly assess risk disposition
Understanding of operational processes: risks, controls and control metrics
Institute routines to oversee progress of risk mitigation efforts and mange timelines for issue closure
Score risk issues in accordance with Bank of America Risk Framework and guidelines
Draft issue summaries and detailed action plans to document remediation approach
o Enter issues formally into the Issue Management System of Record
o Collect and perform independent QA of evidence submitted for issue closure
o Perform issue status reporting for various audiences
o Perform trend analysis and horizontal impact assessments to determine themes and identify emerging risks
o Support lines of business through routine exams with regulators and internal audit
Required Skills
5+ Years of risk management and/or Global Market Operations Experience
Excellent written and verbal communication skills - ability to tailor messaging to senior management
Able to understand, analyze, and explain complex workflows
Self-Starter who can work independently with little guidance or direction
Ability to meet tight deadlines while working in a flexible environment
Attention to laws, rules & regulations
High technical expertise in MS Office platforms
Desired Skills
Audit, Global Markets, and/or Finance/Accounting experience
Project management experience
Ability to analyze, comprehend, and document complex processes
Highly analytical - Able to work with large data sets and workflows
Skills:
- 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
Shift:
1st shift (United States of America)
Hours Per Week:
40
Pay Transparency details
US - NY - New York - 1100 Ave Of The Americas - Two Bryant Park (NY1540)
Pay and benefits information
Pay range
$62,100.00 - $103,900.00 annualized salary, offers to be determined based on experience, education and skill set.
Discretionary incentive eligible
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.
Benefits
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.
Learn more about this role
Employers have access to artificial intelligence language tools (“AI”) that help generate and enhance job descriptions and AI may have been used to create this description. The position description has been reviewed for accuracy and Dice believes it to correctly reflect the job opportunity.
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