Business Control Manager

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!

Overview of Global Risk Analytics and Enterprise Independent Testing

Global Risk Analytics (GRA) is a sub-line of business within GRM. GRA is responsible for developing a consistent and coherent set of models and analytical tools for effective Risk and Capital measurement, management and reporting across Bank of America. In addition to model development, GRA conducts model implementation, data management, model execution and analysis, forecast administration, and model performance monitoring. The team drives innovation, process improvement and automation across all of these activities.
Enterprise Independent Testing (EIT) is the centralized, independent testing function within GRM focused on operating as an enterprise utility to test processes and controls that require testing across the company. EIT’s testing provides business leaders visibility of their process and control effectiveness, which enables early risk detection and the mitigation of operational risk. As a center of excellence, EIT conducts independent testing throughout the year globally, providing ongoing feedback to monitor and improve processes. EIT tests processes and controls on behalf of the Second Line of Defense, Front Line Units (FLUs) and Control Functions (CFs), enabling more efficient and effective testing.

Overview of Model and Testing Standards and Oversight

The Model and Testing Standards and Oversight (MTSO) team provides standards and oversight for Global Risk Analytics (GRA) and Enterprise Independent Testing (EIT) that ensure GRA and EIT operate effectively and efficiently, and output is delivered to a high standard and within a robust governance framework.
 

Job Description Summary
This job is responsible for leading and executing on internal control discipline and operational excellence within a Line of Business (LOB) or Enterprise Control Function (ECF). Key responsibilities include executing LOB or ECF processes and tools to drive adherence to enterprise-wide standards. Job expectations include supporting the implementation of quality assurance and quality control processes within the LOB or ECF through ongoing monitoring and testing of controls, identifying issues and control improvements for remediation, and building out actions plans and milestones.

The Global Risk Analytics (GRA) and Enterprise Independent Testing (EIT) team is seeking a Business Control Manager to support Quality Control activities and process effectiveness to ensure risks are properly mitigated. The role provides oversight, leadership, and strategy for QA/QC framework, including Policy and Procedure documentation.  The ideal candidate is a strategic leader who can evolve and transform the QA/QC strategy across the organization, working with teammates and process owners to provide guidance required to make the changes, and emphasize the urgency required.  Candidate will partner and engage across Global Risk Analytics and Enterprise Independent Testing teams to drive key business initiatives.

Responsibilities

• Leads the assessment of the design and effectiveness of the risk and control environment to support Client Operational Services and ensure adherence to enterprise-wide standards

• Leads the implementation of optimized controls and enhanced Quality Assurance (QA), Quality Control (QC) practices to support business continuity efforts

• Identify, document, and escalates defects identified during testing, and work closely with Process Owners and leadership to validate results and advise on remediation plans.

• Interacts with internal and/or external contacts to identify, research, analyze and resolve complex problems.

• Partner with leaders to understand existing risks and advise on opportunities to manage or mitigate the risks accordingly.

• Ensures accuracy of data and that relevant information is captured for inspection metrics to support governance for dashboard reporting

• Manages and reviews all operations front line unit responses for regulatory exams, internal audits, and other monitoring and inspection reviews

• Manages inventory of processes, risks, controls, and associated metrics for risk appetite and limits, reporting violations of compliance or regulatory activities

• Reviews and challenges FLU/CF process, risk, Single Process Inventory, and FLU/CF Risk and Control Self-Assessment related to themes or trends

Required Skills and Experience

The successful candidate will possess the following:

• Data and Trend Analysis capabilities

• Highly organized and able to lead multiple priorities

• Must be self-motivated and comfortable being effective in working with varying levels of management, guidance, and timelines.

• Strategic planning and development

• Strong analytical capabilities, attention to details, planning, and management organizational skills

• Highly proficient in MS office products

• Project, Procedure and Risk Management

• Proactively anticipate problems and execute solutions

• Continuous improvement mindset

• Excellent written and verbal communication skills

• Single Process Inventory knowledge and understanding

Job Description:
This job is responsible for leading and executing on internal control discipline and operational excellence within a Line of Business (LOB) or Enterprise Control Function (ECF). Key responsibilities include executing LOB or ECF processes and tools to drive adherence to enterprise-wide standards. Job expectations include supporting the implementation of quality assurance and quality control processes within the LOB or ECF through ongoing monitoring and testing of controls, identifying issues and control improvements for remediation, and building out actions plans and milestones.

Responsibilities:

• Leads the assessment of the design and effectiveness of the risk and control environment to support Client Operational Services and ensure adherence to enterprise-wide standards

• Performs monitoring and testing of controls, identifying issues and control improvements for remediation

• Leads the implementation of optimized controls and enhanced Quality Assurance (QA) practices to support business continuity efforts

• Manages the performance and productivity of team members that conduct quality inspection reviews

• Ensures timely execution of QA activities including control execution, case management, and results reporting

• Manages and reviews all operations front line unit responses for regulatory exams, internal audits, and other monitoring and inspection reviews

• Ensures accuracy of data and that relevant information is captured for inspection metrics to support governance for dashboard reporting

Skills:

• Controls Management

• Oral Communications

• Risk Management

• Stakeholder Management

• Strategy Planning and Development

• Continuous Improvement

• Drives Engagement

• Influence

• Strategic Thinking

• Talent Development

• Data and Trend Analysis

• Decision Making

• Monitoring, Surveillance, and Testing

• Problem Solving

• Quality Assurance

Bank of America
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!
 

Shift:

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