Audit 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. 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 overseeing assigned areas of audit work acting as an Auditor-in-Charge (AIC), and executing on the audit strategy for Lines of Business (LOBs). Key responsibilities include driving risk-based auditing by defining scope and test procedures to evaluate the control environment in conformance with audit policies, assessing issues for business impact and recommending severity ratings, drafting audit reports, and managing business partner relationships. Job expectations include fostering an inclusive work environment, and mentoring team members.

In addition, this role is expected to act as a subject matter expert (SME) on accounting matters, with a strong focus on the US GAAP accounting treatment of banking and traded products. Job expectations include evaluating and opining on the appropriateness of accounting treatment under US GAAP, and articulating key differences between US GAAP, IFRS, and other relevant accounting frameworks as they relate to banking activities and traded products. This expertise supports audit risk assessments, issue evaluation, and effective challenge of management judgments.

The role also includes fostering an inclusive work environment and mentoring team members to support professional development and audit quality.

Responsibilities:

• Executes audit strategy for the sound application of risk-based auditing by defining audit scope and audit programs, and drafting audit reports leveraging automation and innovative methods in a timely and high quality manner
• Acts as Auditor-in-Charge (AIC) by overseeing audit testing and ensuring it is executed in a timely manner and conforms with quality standards, audit policies, and procedures
• Assesses impacts to business processes, controls, and strategies to provide recommendations on severity ratings and escalate broad themes or trends accordingly based on existing business knowledge
• Exercises intellectual curiosity and judgment to effectively influence and challenge management to improve the control environment and drive continuous improvements on audit
• Oversees a team of associates and provides day-to-day mentoring and guidance and fosters an inclusive work environment
• Maintains business partner relationships, primarily with line management, to develop business knowledge
• Exercises sound knowledge of product, business, and technical expertise to effectively challenge management to improve the control environment
• Serve as a subject matter expert (SME) on accounting matters, with a strong focus on the US GAAP accounting treatment of banking and traded products.
• Evaluate and opine on the appropriateness of accounting treatment under US GAAP, including management interpretations, estimates, and adjustments impacting financial results. Provide expert challenge and insight on differences between US GAAP, IFRS, and other relevant accounting frameworks as they relate to banking activities and traded products and assess the audit and control implications of those differences.
• Oversee the planning, execution, and quality of SOX testing for assigned areas, including evaluating control design and operating effectiveness and assessing the impact of identified deficiencies.

Managerial Responsibilities:

This position may also have responsibilities for managing associates. At Bank of America, all managers at this level demonstrate the following responsibilities, in addition to those specific to the role, listed above.

• Opportunity & Inclusion Champion: Models an inclusive environment for employees and clients, aligned to company Great Place to Work goals.
• Manager of Process & Data: Demonstrates deep process knowledge, operational excellence and innovation through a focus on simplicity, data based decision making and continuous improvement.
• Enterprise Advocate & Communicator: Communicates enterprise decisions, purpose, and results, and connects to team strategy, priorities and contributions.
• Risk Manager: Ensures proper risk discipline, controls and culture are in place to identify, escalate and debate issues.
• People Manager & Coach: Provides inspection, coaching and feedback to motivate, differentiate and improve performance.
• Financial Steward: Actively manages expenses and budgets in alignment with objectives, making sound financial decisions.
• Enterprise Talent Leader: Assesses talent and builds bench strength for roles across the organization.
• Driver of Business Outcomes: Delivers results by effectively prioritizing, inspecting and appropriately delegating team work.

Required Qualifications:

• Fully qualified professional accountant (CPA, ACA, ACCA, or equivalent), or a degree in accounting
• Minimum of eight years’ work experience, the majority of which is spent in a financial reporting function or similar function (preferably product control) within a large multinational bank
• Understanding of banking products
• Evaluates processes and operational risks to identify controls and determine gaps
• Experience with data management and governance
• Experience in risk, testing, compliance, audit or related work experience
• Experience in a people leadership role
• Builds strong team relationships through effective communication and collaboration
• Executes multiple tasks simultaneously
• Displays a proactive mindset and effective time management
• Demonstrates a results-driven and detail-oriented mindset

Desired Qualifications:

• Experience as an Auditor-in-Charge overseeing audit jobs, performing timely execution and aligning with audit standards, policies and procedures
• Demonstrated understanding of: US GAAP accounting, IFRS and other relevant European GAAP Frameworks.
• Experience applying U.S. GAAP, IFRS, and applicable European GAAP frameworks to bank‑traded products
• Auditor and/or similar certification
• Experience in project management
• Demonstrates ability to influence, drive change and resolve conflicts
• Knowledge of data analytics tools (e.g. Altreryx, Excel, SQL) is preferred

Skills:

• Analytical Thinking
• Audit Planning
• Internal Audit Review
• Issue Management
• Risk Management
• Business Acumen
• Coaching
• Project Management
• Relationship Building
• Ability to work with diverse, multi‑location and international teams
• Attention to Detail
• Automation
• Critical Thinking
• Strong multi‑tasking abilities, with experience working on multiple critical tasks concurrently

Shift:

Hours Per Week: