Business Support Manager - Global Financial Crime Modelling & Analytics

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!

Overview of Global Risk Analytics

Bank of America Merrill Lynch has an opportunity for a Business Support Analyst within our Global Risk Analytics (GRA) function. GRA is a sub-line of business within Global Risk Management (GRM). GRA is responsible for developing a consistent and coherent set of models and analytical tools for effective risk and capital measurement, management and reporting across Bank of America. GRA partners with the Lines of Business and Enterprise functions to ensure that its models and analytics address both internal and regulatory requirements, such as quarterly Enterprise Stress Testing (EST), the annual Comprehensive Capital Analysis and Review (CCAR), and the Current Expected Credit Losses (CECL) accounting standard.  GRA models follow an iterative and ongoing development life cycle, as the bank responds to the changing nature of portfolios, economic conditions and emerging risks.  In addition to model development, GRA conducts model implementation, data management, model execution and analysis, forecast administration, and model performance monitoring. GRA drives innovation, process improvement and automation across all of these activities.

Overview of the Team

Overview of Global Financial Crime Modelling & Analytics

As a part of Global Risk Analytics, Global Financial Crimes Modeling and Analytics is responsible for enterprise-wide financial crime model development and implementation, ongoing performance monitoring and optimization, data usage, and research and development utilizing advanced analytical tools and systems. The Global Financial Crimes Modeling and Analytics team is made up of six sub-teams:

• Financial Crime Model Development responsible for development and maintenance of all AML Feeder models as per acceptable model risk practices and defined performance parameters to meet firm’s AML Risk Coverage, while maintaining operational viability.
• Ongoing Monitoring Review is responsible for periodically substantiating the ongoing fitness of financial crime models in accordance with a model’s approved Ongoing Monitoring Plan (“OMP”). Ongoing Model Monitoring Reports (“OMRs”) assess environmental changes, model limitations, assumptions, process verification and outcomes analysis for each model. OMRs summarize trends in key metrics and provide critical analysis of model performance with respect to metric thresholds; identify threshold breaches and document remediation plans. In addition, the ongoing monitoring process includes the inline monitoring activities performed between reporting cycles, the results of those activities, and any escalations during the period.
• Engineering, Data & Analytics, Model Implementation, Event Processor Model Development is responsible for designing end-to-end data and process flows for model development, testing, and execution, including architecture setup; delivering model code to technology teams for production releases; developing models (Event Processor), analytics (Event Processor Performance Analysis, Transaction Monitoring Analysis) and tools (FinCAP) to enhance risk metrics and facilitate what-if/explain scenario analysis.
• Program Management & Regulatory is responsible for overseeing cross-functional initiatives and providing project management support to deliver timely execution of GFCMA's book of work, strategic initiatives, and critical activities in support of regulatory and audit deliverables.
• Business Management & Control is responsible for Strategy, Governance Oversight and Control, Resource Management, Process Excellence, Issue Management and COO functions.
• Administration provides administrative and organizational support to the GFCMA executive and leadership team.

Overview of the Role

This role within the Business Management team is responsible for providing business support to all teams and processes within ERA. Supports executive and management routines, stakeholder and key partner management, project management for cross functional and horizontal projects, provides business reporting and manages key business control processes. The selected candidate brings the skills and experience necessary to identify strategies and solutions that are directly linked to organizational and business goals. Identify opportunities for improvement and proactively drive change / performance improvement. Conduct analysis to determine root causes, propose solutions, scope projects, implement solutions and assess impact. Executes solutions to include process improvement or integration, leadership development, skill development and training. Assist in managing the execution of robust control reporting to monitor multiple facets of the operation.

Position Overview

• Responsible for ensuring that all model governance practices are adhered to across the team. In particular, managing governance processes to ensure that an accurate model inventory is maintained, model validation submissions are on time with appropriate stakeholder engagement, attestation processes are adhered to, process inventories are accurate, maintained and supported by effective supplementary procedures.
• Develop, maintain, and manage reporting, analytics, dashboards, and other Business Intelligence solutions to bring transparency to model and organizational health, surfacing risks for proactive mitigation.
• Working closely with the leadership team, model developers, software engineers and data analysts to manage all aspects of ERA operations.
• Management of the ERA hiring pipeline process and onboarding, mitigating associated risks to ERA execution.
• Facilitate across multiple areas (business, operations, technology, key partners) to help drive critical change initiatives.
• Coordinate multiple projects and timelines, prioritizing work based on the value proposition for the business
• Assist managing operational routines.

Required Education, Skills and Experience

• Bachelor’s degree in a business discipline (e.g., Management, Finance, Accounting, Information Systems, Operations Management, Engineering).
• 3 – 5 years of business management support, governance, or program/project management experience
• Strong analytical, problem-solving skills with a track record of taking ownership, identifying solutions, driving execution, and navigating challenges.
• Highly organized with an ability to manage multiple priorities in a complex fast paced environment without sacrificing quality or timelines.
• Demonstrates intellectual curiosity to drive forward opportunities for improvement.
• Has a ‘control’ oriented experience and mindset, with a focus on risk mitigation
• Advanced proficiency in use of query and reporting analysis tools; Excel (macros, pivot tables, lookups, functions/formula), Tableau driven dashboards & analytics.
• Advanced analytical skills that demonstrate ability to learn how to navigate systems, access data, reconcile numbers from different sources, identify discrepancies and understand drivers of change within data.
• Ability to analyze data with accuracy to draw business-relevant conclusions and in data visualization techniques and tools.
• Excellent written and verbal communication skills with experience of executive level presentation and proficiency in PowerPoint. Strong business partnering experience / skills including the ability to interact, communicate and influence equally well within all levels of an organization.
• Ability to work and communicate effectively with technical and non-technical business teams.
• High attention to detail and quality work product(s)

Desired Skills and Experience

• Prior use of Horizon JIRA to track agile-based deployment of either technical or non-technical program.
• Working knowledge of risk management
• Experience of managing a control framework

Shift:

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