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Business Control Manager - CFO Model Governance

Charlotte, North Carolina

Job Description:

The CFO Model Governance team is part of the CFO Operational Risk and Control Oversight (ORCO) team within the Global Financial Control (GFC) organization. The primary focus of the team is to drive consistent control discipline routines across CFO and provide affirmative evidence supporting ongoing compliance with the Enterprise Model Risk Policy. Additionally, this team acts as a liaison for CFO with key Business Partners (MRM, QMR, Audit, GCOR) and supports execution of projects and alternatives to improve operating efficiency related to model governance. 

Scope of Responsibilities:

  • Partner with key stakeholders across CFO to maintain and continuously enhance a governance program around models within accepted risk appetite for CFO
  • Review, interpret and communicate enterprise changes to the Model Risk Management Program at Bank of America and determine impact to the CFO Group. Develop CFO-specific interpretative guidance, if necessary.
  • Manage the governance routines in place related to CFO Model Risk Management, including CFO Model Risk Council meetings with CFO senior leadership and key business partners
  • Identify issues and/or control improvements, assist in building out actions plans and milestones and drive or support issue remediation
  • Lead or engage in strategic projects that often require distilling large amounts of data into actionable insights, both quantitative and qualitative analysis, and crafting presentation materials to enable effective decision making
  • Assist with identification of appropriate metrics designed to measure the health of internal processes

Knowledge, Skills and Key Leadership Characteristics:

  • Ability to lead cross-functional work and motivate cross-functional teams to achieve business objectives and process improvements
  • Demonstrated understanding of internal control discipline and operational excellence
  • Excellent communication skills both verbal and written; must be able to appropriately convey ideas, concerns and opinions across differing levels of management with the ability to influence change
  • Intellectually curious; constantly seeks to learn and advance his/her knowledge
  • Effective partnering and relationship management skills applying a collaborative mindset
  • Ability to utilize and present data to enable leadership decisions
  • Strong analytical, logical reasoning and problem solving skills
  • Strong project-management skills; ability to handle multiple priorities in a fast-paced environment 
  • Ability to quickly adjust to changes in approach/methodology in a dynamic setting

About the CFO Operational Risk and Controls Oversight Group (ORCO)

ORCO has firm-wide responsibility for ensuring appropriateness of externally reported financial information.  The group works closely with several internal control functions within the Business and Finance Organizations, Operational Risk, Compliance, Corporate Audit and the Company’s external Auditors.  Key responsibilities of the group include:

  • Enterprise-wide Internal Control over Financial Reporting: Managing Sarbanes-Oxley 404 Compliance, Disclosure Controls and Procedures (DCP) and FDICIA Compliance.
  • CFO adherence to Enterprise Model Risk Policy and Enterprise Spreadsheet Control Policy
  • Financial Operational Risk Management: Operational Risk Reporting, Process Risk Assessment, QA metrics/scorecards, Risk Self-Assessment (RCSA), Issues Management, Key Risk Indicators, etc.
  • Treasury Quality Assurance and Business Controls: Validation of effectiveness of processes/controls supporting Corporate Treasury functions and activities in regulatory compliance program and related enterprise standards and policies as well as QA metrics/scorecards, RCSA, Spreadsheet Compliance and Model Risk Management
  • Regulatory Reporting Quality Assurance Testing (source to report) Conformance and Transaction Review
  • Enterprise-wide Reconciliations: Governance over account reconciliations and firmed-owned bank accounts

Required Skills:

  • Bachelor's degree or equivalent (Accounting and/or Finance strongly preferred) 
  • 6+ years of relevant operational risk, model risk management, risk or compliance control experience (preferably in areas of accounting and finance)
  • Strong relationship management skills 
  • Robust project management abilities
  • Proven ability to manage multiple and often competing priorities
  • Strong executor that is able to drive progress on priorities and issues
  • Ability to communicate in a clear and concise manner

Desired Skills:

  • Graduate degree
  • Strong MS PowerPoint skills

This role is posted as a Business Control Manager, but can be filled as a Senior Business Control Specialist based on qualifications of a strong Senior Business Control Specialist.

Job Band:

H4

Shift: 

1st shift (United States of America)

Hours Per Week:

40

Weekly Schedule:

Referral Bonus Amount:

0

Job Description:

The CFO Model Governance team is part of the CFO Operational Risk and Control Oversight (ORCO) team within the Global Financial Control (GFC) organization. The primary focus of the team is to drive consistent control discipline routines across CFO and provide affirmative evidence supporting ongoing compliance with the Enterprise Model Risk Policy. Additionally, this team acts as a liaison for CFO with key Business Partners (MRM, QMR, Audit, GCOR) and supports execution of projects and alternatives to improve operating efficiency related to model governance. 

Scope of Responsibilities:

  • Partner with key stakeholders across CFO to maintain and continuously enhance a governance program around models within accepted risk appetite for CFO
  • Review, interpret and communicate enterprise changes to the Model Risk Management Program at Bank of America and determine impact to the CFO Group. Develop CFO-specific interpretative guidance, if necessary.
  • Manage the governance routines in place related to CFO Model Risk Management, including CFO Model Risk Council meetings with CFO senior leadership and key business partners
  • Identify issues and/or control improvements, assist in building out actions plans and milestones and drive or support issue remediation
  • Lead or engage in strategic projects that often require distilling large amounts of data into actionable insights, both quantitative and qualitative analysis, and crafting presentation materials to enable effective decision making
  • Assist with identification of appropriate metrics designed to measure the health of internal processes

Knowledge, Skills and Key Leadership Characteristics:

  • Ability to lead cross-functional work and motivate cross-functional teams to achieve business objectives and process improvements
  • Demonstrated understanding of internal control discipline and operational excellence
  • Excellent communication skills both verbal and written; must be able to appropriately convey ideas, concerns and opinions across differing levels of management with the ability to influence change
  • Intellectually curious; constantly seeks to learn and advance his/her knowledge
  • Effective partnering and relationship management skills applying a collaborative mindset
  • Ability to utilize and present data to enable leadership decisions
  • Strong analytical, logical reasoning and problem solving skills
  • Strong project-management skills; ability to handle multiple priorities in a fast-paced environment 
  • Ability to quickly adjust to changes in approach/methodology in a dynamic setting

About the CFO Operational Risk and Controls Oversight Group (ORCO)

ORCO has firm-wide responsibility for ensuring appropriateness of externally reported financial information.  The group works closely with several internal control functions within the Business and Finance Organizations, Operational Risk, Compliance, Corporate Audit and the Company’s external Auditors.  Key responsibilities of the group include:

  • Enterprise-wide Internal Control over Financial Reporting: Managing Sarbanes-Oxley 404 Compliance, Disclosure Controls and Procedures (DCP) and FDICIA Compliance.
  • CFO adherence to Enterprise Model Risk Policy and Enterprise Spreadsheet Control Policy
  • Financial Operational Risk Management: Operational Risk Reporting, Process Risk Assessment, QA metrics/scorecards, Risk Self-Assessment (RCSA), Issues Management, Key Risk Indicators, etc.
  • Treasury Quality Assurance and Business Controls: Validation of effectiveness of processes/controls supporting Corporate Treasury functions and activities in regulatory compliance program and related enterprise standards and policies as well as QA metrics/scorecards, RCSA, Spreadsheet Compliance and Model Risk Management
  • Regulatory Reporting Quality Assurance Testing (source to report) Conformance and Transaction Review
  • Enterprise-wide Reconciliations: Governance over account reconciliations and firmed-owned bank accounts

Required Skills:

  • Bachelor's degree or equivalent (Accounting and/or Finance strongly preferred) 
  • 6+ years of relevant operational risk, model risk management, risk or compliance control experience (preferably in areas of accounting and finance)
  • Strong relationship management skills 
  • Robust project management abilities
  • Proven ability to manage multiple and often competing priorities
  • Strong executor that is able to drive progress on priorities and issues
  • Ability to communicate in a clear and concise manner

Desired Skills:

  • Graduate degree
  • Strong MS PowerPoint skills

This role is posted as a Business Control Manager, but can be filled as a Senior Business Control Specialist based on qualifications of a strong Senior Business Control Specialist.

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Learn more about this role

Full time

JR-22001947

Band: H4

Manages People: No

Travel: No

Manager:

Talent Acquisition Contact:

Joseph Birkel

Referral Bonus:

0

Street Address

Primary Location:
401 N TRYON ST, NC, Charlotte, 28255