Risk Analysis Specialist II

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. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day. Being a Great Place to Work and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates’ physical, emotional, and financial wellness through affordable, competitive and flexible benefits. We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve. Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs. At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

Position Summary:
This job is responsible for supporting data and technology requests, complex reporting and analysis, and modeling to manage risk and minimize credit and operating losses. Key responsibilities include reviewing and analyzing portfolio trends, supporting the development of more complex databases or queries to extract data, and supporting the production of data for internal and external reporting needs. Job expectations include working with Technology to implement changes necessary to support ongoing data needs. The Credit Risk Information Strategy and Allowance (CRISA) team sits within Enterprise Credit Risk and supports the allowance function for US GAAP and all Bank of America’s international legal entities.   The Commercial Allowance Analyst role is a hybrid credit risk/ finance type role and the candidate will be responsible for the analysis / ownership of components of the reserve.  
The Credit Risk Information Strategy and Allowance (CRISA) team sits within Enterprise Credit Risk and supports the allowance function for US GAAP and all Bank of America’s international legal entities.   The Allowance Analyst role is responsible for the review and analysis of the allowance for loan losses and related forecasting and stress testing as well as the communication to key Risk and business partners. The candidate will use quantitative tools and work with large sets of data to analyze, understand drivers and prepare summaries to management.  Additional projects and analysis will focus on understanding how the changing global economic situation impacts credit risk in our portfolio.  They may also lead dashboard development and explore report automation. In addition, this individual may be involved in ad-hoc management reporting around key asset quality exposures (e.g., reservable criticized metrics, peer analysis, etc.).  The position will provide a well-rounded, balanced role with opportunities for interaction with other teams such as risk / finance, statistical modeling teams, and senior management.  Strong analytical, communication, presentation, and time management skills are required.   
 

Responsibilities:

• Supports the development and execution of reporting to allow Risk and business partners to effectively identify and manage risk
• Analyzes trends and supports the data design, portfolio trends, loss trends, and portfolio dynamics to ensure alignment with business strategies
• Provides analytical support on various product strategic initiatives affecting multiple Risk functions and lines of business to ensure company goals are met
• Participates in the development of database production processes and performance reports for senior management, using data mining and other advanced analytical techniques to aggregate data
• Supports with responding to complex ad-hoc requests for information from both internal and external parties
•  Provides support on cross-functional efforts to remediate data quality issues
•  Monitors the outputs of controls and investigates alerts from the control checks
• Assist the Commercial Allowance team with forecast and quarter end close processes.  The individual will be working in a dynamic and challenging environment as the role has exposure to all the production cycles and processes related to the calculation and analysis of allowance results for the Commercial loan portfolio
• Work with Global Risk Analytics Loss Forecast modeling teams to understand model drivers and their impacts to Allowance
• Assist in completion of quarterly enterprise stress test scenarios each quarter ensuring sufficient reserves and appropriate allowance adequacy
• Respond to management and business partner requests, providing necessary analytical, allowance and reporting support

Required Skills and Experience

• Bachelor's degree required, (accounting, finance, risk a plus)
• Several years of experience in a financial institution in analyst / analytics type role 
• Attention to detail 
• Teamwork - Fosters collaboration among team members and business partners throughout the enterprise
• Analytical Abilities / Financial Acumen (Basic understanding of accounting (debits / credits))
• Strong Communicator - Clearly conveys information and ideas through a variety of channels to individuals or groups in a way that engages and impacts the audience.   
• Strong organization and writing skills  
• Self-starter, must show initiative and ability to connect dots, maintain a sense of ownership
• Resourceful - Systematically acquires relevant information to support key decisions

Desired Skills and Experience:

• Allowance / Credit Risk / Commercial banking
• Familiarity with models
• Audit or controls background  
• Proficient using SQL or SAS, on large datasets for data analysis 
• Experience with or desire to learn AI tools, Tableau and/or MicroStrategy, and Alteryx 
• General Ledger experience
   

Skills:

• Attention to Detail
• Business Intelligence
• Data and Trend Analysis
• Risk Analytics
• Risk Management
• Adaptability
• Collaboration
• Continuous Improvement
• Data Visualization
• Project Management
• Business Acumen
• Issue Management
• Regulatory Relations
• Stakeholder Management
• Technical Documentation

Shift:

Hours Per Week: