Risk Process Analyst

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

Team Overview

Global Risk Analytics (GRA) and Enterprise Independent Testing (EIT) are sub-lines of business within Global Risk Management (GRM). Collectively, they are responsible for developing a consistent and coherent set of models, analytical tools, and tests for effective risk and capital measurement, management and reporting across Bank of America. GRA and EIT partner with the Lines of Business and Enterprise functions to ensure the capabilities it builds address both internal and regulatory requirements, and are responsive to the changing nature of portfolios, economic conditions, and emerging risks. In executing its activities, GRA and EIT drive innovation, process improvement and automation. 

Role Overview

We are seeking Risk Process Analysts to join our team. This role is integral to the Bank’s commitment to process excellence and the candidate will learn about, and conduct activities that support, all aspects of the end-to-end model development and testing lifecycle. The combined GRA/EIT team develops and executes models used for risk and capital management and tests used to evaluate the effectiveness of Bank of America’s processes and controls. Modeling and testing coverage spans across all Lines of Business from Consumer to Global Markets, multiple Products (e.g., card, mortgage, derivatives), Regulations (e.g., Reg W, Dodd Frank), and Enterprise Processes (e.g., Fraud, AML, Payments, Complaints), providing an opportunity for candidates to gain wide exposure to how the Bank operates early in their careers.

The Risk Process Analyst works closely with teammates in GRA/EIT as well as model and process owners in the Lines of Business and Enterprise functions to obtain an understanding of portfolios and processes, including underlying data, flows, and controls, so that appropriate models, testing, and monitoring can be developed. Examples of day-to- day responsibilities a Risk Process Analyst may perform include:

• Collaborate with key stakeholders across the Bank to identify risks and prioritize model and testing needs

• Document and analyze modeling and testing requirements

• Source and evaluate data required for modeling and testing

• Design and develop models and tests

• Document models and tests in a manner that is clear, concise and repeatable

• Use programming skills and knowledge of software development lifecycle principles to write model and testing code

• Execute models and tests

• Provide reporting of model and test results

• Communicate key modeling and testing insights to stakeholders across the Bank

Required Education

• Undergraduate or masters degree from an accredited college or university

• GPA of 3.5 or higher is preferred

• Common areas of study include but are not limited to: Engineering, Mathematics, Statistics, Physics, Finance, Economics, Computer Science, Data Science, Accounting, Audit Management and Risk Management

Required Skills

• High level of intellectual curiosity

• Proficiencies in leadership, teamwork, problem solving

• Feels ownership and accountability for delivering high quality work, able to prioritize effectively, adapt, and meet strict deadlines

• Strong written, verbal, presentation creation and delivery skills

• Well organized, and has attention to detail

• Microsoft Office suite

Desired Skills and Experience

• Experience applying quantitative methods such as modelling, data analytics, machine learning, and statistics to develop business solutions

• Programming skills (e.g., Python) and solid understanding of Software Development Life cycle principles

• Knowledge of financial services industry and related regulations

• Digital fluency

• Experience implementing process improvements and automation 

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Pay Transparency details

US - IL - Chicago - 540 W Madison St - Bank Of America Plaza (IL4540)

Pay and benefits information

Pay range- annualized salary, offers to be determined based on experience, education and skill set.

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.