Risk Management Executive

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:

The Risk Management Executive will be a key leader within the Regulatory Issues Management and Remediation Function, which resides within Global Risk Management. The Risk Management Executive will be responsible for quality assurance of a subset of regulatory issues (including Matters Requiring Attention) and will ensure that regulatory issue owners throughout the enterprise are achieving quality standards, meeting regulatory expectations, and delivering complete evidence packages. This Executive will contribute to design of reporting, routines, and information flows to ensure that the quality assurance function operates smoothly in relation to all other functions.

Responsibilities:

• Participates in establishing risk management procedures and standards.
• Ensures adherence to the policies and procedures established by the company.
• Overseeing and directing the processes and controls for in-scope, in-line QA activities.
• Work with the Regulatory Remediation Quality Assurance Deputy Lead to enhance existing processes and establish new processes, as necessary, for the In-line QA lifecycle including proper connect points with various peer Executives in Regulatory Relations, Issue Owner, and Regulatory Issues Steering Council groups.
• Partner with Reg Issues Strategy & Enablement Executive and the Reg Issue Portfolio Executive to help issue owners to move an issue through the steps necessary to remediate on time, including timely completion of QA activities.
• Revise, create (as needed) and maintain templates and other documentation that achieve greater consistency for all in-scope, in-line QA activities.
• Provide effective challenge to issue owners regarding issue remediation planning, execution, and evidence packaging to ensure they are robust and address issue in question.
• Communicate QA findings to issue owners, Internal Audit, and the Reg Remediation Quality Assurance Deputy Lead, and provide recommendations/escalation of broad themes and trends accordingly based on QA findings.
• Develop communications to keep stakeholder informed of progress and changes to processes.
• Help to ensure that learnings from Quality Assurance and remediation efforts are documented and incorporated into relevant training, processes, procedures, and templates.

Managerial Responsibilities: 

This position will also have responsibilities for managing associates. At Bank of America, all managers at this level demonstrate the following responsibilities, in addition to those specific to the role, listed above.

• Diversity & Inclusion Champion: Models an inclusive environment for employees and clients, aligned to company D&I goals.
• Manager of Process & Data: Demonstrates deep process knowledge, operational excellence and innovation through a focus on simplicity, data based decision making and continuous improvement.
• Enterprise Advocate & Communicator: Communicates enterprise decisions, purpose, and results, and connects to team strategy, priorities and contributions.
• Risk Manager: Ensures proper risk discipline, controls and culture are in place to identify, escalate and debate issues.
• People Manager & Coach: Provides inspection, coaching and feedback to motivate, differentiate and improve performance.
• Driver of Business Outcomes: Delivers results by effectively prioritizing, inspecting and appropriately delegating team work.
   

Required Qualifications:

• 10+ years of experience in financial services industry or experience in a related field
• Demonstrated ability to engage and communicate at the executive level, establish, and maintain collaborative partnerships and provide thought leadership to strategic decisions.
• Critical thinker with the ability to influence senior leaders across GRM and partners, including to challenge the status quo, produce appropriate changes and implement goals.
• Significant business knowledge of risk management and regulatory interactions.
• Strong analytical and organizational skills; focus on attention to detail.
• Excellent written and verbal communication skills.
• Strong horizontal leadership skills across peers as well as vertical leadership in a matrixed environment leading staff through a direct reporting relationship; an individual who can lead a diverse associate population, inspire a strong sense of camaraderie and accountability, and motivate continuous improvements to performance.
• Effectively packages and communicates complex content and information.
• Can effectively navigate and deliver results in highly matrixed environment within Global Risk and beyond.

Skills:

• Critical Thinking
• Decision Making
• Executive Presence
• Talent Development
• Issue Management
• Liquidity Management
• Oral Communications
• Performance Management
• Written Communications
• Analytical Thinking
• Change Management
• Fiscal Responsibility
• Presentation Skills
• Regulatory Compliance

Shift:

Hours Per Week: