Risk Management Sr Officer

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 is core to how we drive Responsible Growth. This includes our commitment to being an inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.

Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations.

At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

 

Job Description:
This job is responsible for providing oversight, advice and counsel to the Line of Business (LOB) regarding risk categories including credit, market, operational and compliance risk. Key responsibilities include ensuring compliance with Enterprise Risk Management framework through adherence to risk management policies and controls. Job expectations include execution of risk framework activities such as independent monitoring and controls testing, and overseeing the risk governance structure for LOB.

Responsibilities:

• Leads the assessment of the design and effectiveness of the risk and control environment and ensure adherence to enterprise-wide standards
• Establishes risk management controls, limits and thresholds within the defined enterprise risk framework
• Executes risk framework activities including but not limited to independent monitoring and testing of controls and risk management processes for the LOB
• Leads the implementation of optimized controls and enhanced Quality Assurance (QA) practices to support business continuity efforts
• Manages and reviews all operations front line unit responses for regulatory exams, internal audits, and other monitoring and inspection reviews
• Oversees risk management governance structure for supporting LOB

The Documentation Standards Team resides within Model Testing Standards and Oversight (MTSO). The team sets and oversees the standards and infrastructure with which Global Risk Analytics (GRA) and Enterprise Independent Testing (EIT) teams prepare documentation for models, testing programs, and risk management to ensure delivery of high-quality, impactful written deliverables that drive operational excellence and organizational success. This includes supporting the GRA Documentation Framework, applying Enterprise requirements and maintaining Lines of Business specific requirements for procedures owned by GRA and EIT, and overseeing procedure inventories. The Risk Management Sr Officer will be responsible for supporting lifecycle oversight activities for in-scope documentation, including setting and enhancing documentation standards, training GRA and EIT teams, communicating with stakeholders, and monitoring and testing adherence to documentation standards and requirements.

• Contribute to setting and improving standards for high quality written work across GRA and EIT
• Provide clear, constructive feedback on documentation quality
• Educate GRA and EIT on the standards and contribute to related skills development programs
• Liaise with stakeholders within GRA, EIT, Global Compliance & Operational Risk, and Corporate Audit & Credit Review
• Support oversight of adherence to GRA and EIT documentation standards
• Maintain documentation inventories and associated governance
• Contribute to quality control and peer review processes that support documentation standards

Required Skills:

• Strong understanding of technical and executive writing principles, including clarity, conciseness, accuracy, and audience awareness are essential
• 5+ years experience in, or understanding of, the design and execution of Quality Control reviews 
• Proficiency with content/documentation management systems and versioning
• Ability to work independently in a self-directed manner
• Strong attention to detail
• Analytical Thinking
• Critical Thinking
• Risk Assessment and measurement, analysis, and reporting of risk
• Experience in, or understanding of, Risk Governance
• Project management
• Strong interpersonal skills
• Collaboration
• Oral communication skills
• Coaching

Desired Skills:

• Regulatory, Auditing, Business Controls Management, Enterprise Testing, or Quality Assurance experience
• Experience in designing and delivering training to a wide range of audiences
• Development and maintenance of procedures
• Experience in, or understanding of, process design
• Monitoring, Surveillance, and Testing
• Issue Management

Skills:

• Analytical Thinking
• Coaching
• Critical Thinking
• Liquidity Management
• Collaboration
• Oral Communications
• Portfolio Analysis
• Presentation Skills
• Written Communications
• Credit and Risk Assessment
• Issue Management
• Monitoring, Surveillance, and Testing
• Regulatory Compliance
• Technical Documentation

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Pay Transparency details

US - NJ - Jersey City - 525 Washington Blvd (NJ2525)

Pay and benefits information

Pay range

$120,000.00 - $170,000.00 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.