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Audit Manager - Counterparty Credit Risk

New York, New York;

Job Description:

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 overseeing assigned areas of audit work acting as an Auditor-in-Charge (AIC), and executing on the audit strategy for Lines of Business (LOBs). Key responsibilities include driving risk-based auditing by defining scope and test procedures to evaluate the control environment in conformance with audit policies, assessing issues for business impact and recommending severity ratings, drafting audit reports, and managing business partner relationships. Job expectations include fostering an inclusive work environment, and mentoring team members.

The team’s coverage is global and covers Counterparty Credit Risk. The individual will be responsible for coordinating, scoping and leading team reviews (incl. large, cross-functional audits) to provide timely and complete assurance over the end-to-end Counterparty Credit Risk framework. Independently executes assigned audit activities and supervise audit team for the project engagement as well as engage in multiple projects simultaneously. Utilizes sound, seasoned analytical skills and possesses product, business, and technical expertise to execute assigned responsibilities. Exercises judgment and critical thinking to influence business partners. Identifies control trends in assigned business areas as well as impact to the business and the Bank overall by applying deep and broad business acumen.

Responsibilities:

  • Executes audit strategy for the sound application of risk-based auditing by defining audit scope and audit programs and drafting audit reports leveraging automation and innovative methods in a timely and high-quality manner.
  • Acts as Auditor-in-Charge (AIC) by overseeing audit testing and ensuring it is executed in a timely manner and conforms with quality standards, audit policies, and procedures.
  • Assesses impacts to business processes, controls, and strategies to provide recommendations on severity ratings and escalate broad themes or trends accordingly based on existing business knowledge.
  • Exercises intellectual curiosity and judgment to effectively influence and challenge management to improve the control environment and drive continuous improvements on audit.
  • Oversees a team of associates and provides day-to-day mentoring and guidance and fosters an inclusive work environment.
  • Maintains business partner relationships, primarily with line management, to develop business knowledge.
  • Exercises sound knowledge of product, business, and technical expertise to effectively challenge management to improve the control environment.

Skills:

  • Analytical Thinking
  • Audit Planning
  • Internal Audit Review
  • Issue Management
  • Risk Management
  • Business Acumen
  • Coaching
  • Project Management
  • Relationship Building
  • Written Communications
  • Attention to Detail
  • Automation
  • Critical Thinking
  • Technical Documentation

Required and Desired Qualifications

  • Master’s Degree or equivalent work experience
  • Counterparty Credit Risk and/or Global Markets knowledge and experience.

Desired Skills:

  • Audit or risk control risk/controls background in financial services
  • Intermediate Analytical / Automation Skills (Alteryx, Python, SQL, SAS, Advanced Excel and Access)
  • Advanced degree
  • CPA preferred

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Learn more about this role

Full time

JR-24019294

Manages People: No

Travel: Yes, 5% of the time

Connecticut pay and benefits information

Connecticut pay range:

$115,600 - $154,000 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.

New York pay and benefits information

New York pay range:

$115,600 - $154,000 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.

Rhode Island pay and benefits information

Rhode Island pay range:

$115,600 - $154,000 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.