VP; Sr Business Control Specialist

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!

Responsibilities:

• Collaborate with others in the organization to ensure successful implementation of chosen problem solutions.

• Study and analyze information about alternative courses of action to determine which plan will offer the best outcomes.

• Develop and maintain Single Process Inventory (SPI) framework, ensuring adherence to Process Management Policy requirements including metric performance oversight.

• Develop and maintain client relationships.

• Document and ensure communication of key risks.

• Recommend ways to control or reduce risk.

• Present risk portfolio and lead discussions related to situation risk and control performance.

• Assess and identify potential and existing risk in operational processes using Risk and Control Self Assessment (RCSA) framework.

• Determine the root cause of operational losses and analyze loss patterns to identify control gaps.

• Monitor and assess risk management activities to ensure compliance with applicable laws, rules and regulations.

• Assess for regulatory breaches, review control failures, and create remediation actions for impacted FLUs to strengthen control environment.

• Perform thematic reviews of control breaches and identify patterns in root causes.

• Analyze methodologies to streamline efficiencies and enhance the operation of workflows.

• Remote work may be permitted within a commutable distance from the worksite.

Required Skills & Experience:

• Bachelor's degree or equivalent in Mathematics, Business Analytics, Statistics, or related: and

• 5 years of progressively responsible experience in the job offered or a related Quantitative occupation.

• Must include 5 years of experience in each of the following:

• Assessing and identifying potential and existing risk in operational processes using Risk and Control Self Assessment (RCSA) framework;

• Determining the root cause of operational losses and analyzing loss patterns to identify control gaps;

• Monitoring and assessing risk management activities to ensure compliance with applicable laws, rules and regulations;

• Assessing for regulatory breaches, reviewing control failures, and creating remediation actions for impacted FLUs to strengthen control environment;

• Performing thematic reviews of control breaches and identifying patterns in root causes; and,

• Analyzing methodologies to streamline efficiencies and enhance the operation of workflows;

• The employer will accept 2 years of related work experience to meet the Bachelor’s degree requirement.

If interested apply online at www.bankofamerica.com/careers or email your resume to [email protected] and reference the job title of the role and requisition number.

Employer: Bank of America N.A.

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Pay Transparency details

US - NY - New York - 1100 Ave Of The Americas - Two Bryant Park (NY1540)

Pay and benefits information

Pay range$117,900.00 - $118,900.00 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.