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.
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
• 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
• 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
• Strives to bring new thoughts and ideas to teams in order to drive innovation and unique solutions.
• Excels in working among diverse viewpoints to determine the best path forward.
• Experience in connecting with a diverse set of clients to understand future business needs – is a continuous learner.
• Commitment to challenging the status quo and promoting positive change.
• Participate in and drive collaborative efforts to advance tools, technology, and ways of working to better serve an evolving client base.
• Believes in value of diversity so we can reflect, connect and meet the diverse needs of our clients and employees around the world.
Bank of America overview:
Every day, across the globe, our employees bring a commitment to our purpose and to driving responsible growth by living our values: deliver together, act responsibly, realize the power of our people and trust the team. A key aspect of driving responsible growth is doing so in a sustainable manner, a critical pillar of which is being a great place to work for our teammates.
Good conduct and sound judgment is crucial to our long term success. It’s important that all employees in the organization understand the expected standards of conduct and how we manage conduct risk. Individual accountability and an ownership mind-set are the cornerstones of our Code of Conduct and are at the heart of managing risk well.
We are an equal opportunities employer, and ensure that no applicant is subject to less favorable treatment on the grounds of gender, gender identity, marital status, race, color, nationality, ethnic or national origins, age, sexual orientation, socio-economic background, responsibilities for dependents, physical or mental disability. The Bank selects candidates for interview based on their skills, qualifications and experience.
As part of our standard hiring process to manage risk, please note background screening checks will be conducted on all hires before commencing employment.
Shift:1st shift (United States of America)
Hours Per Week:40
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