Hispanic Technology Executive Council
Operational Risk and Control Risk Lead-Global Markets-Global Operations
Hispanic Technology Executive Council, New York, New York, us, 10261
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. Were 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:This job is responsible for driving and executing on internal control discipline and operational excellence within a Line of Business (LOB) or Enterprise Control Function (ECF). Key responsibilities include providing analytical and administrative support for LOB or ECF specific processes and tools to drive adherence to enterprise-wide standards. Job expectations include monitoring and testing controls and implementing quality assurance and quality control processes within the LOB or ECF by evaluating data to help identify, track, and report issues and control improvements for remediation.Responsibilities:Oversees the design and effectiveness of the risk and control environment to support Client Operational Services and ensure adherence to enterprise-wide standardsSupports the monitoring and testing of controls by evaluating data to identify issues and control improvements for remediationImplements optimized controls and enhanced Quality Assurance (QA) practices to support business continuity effortsConducts and coordinates quality inspection reviews to enhance employee performance and control effectivenessPerforms QA activities including executing on controls, managing cases, and reporting resultsExecutes initiatives by identifying areas of potential testing automation, procedural updates, thematic trends, test script updates, and coaching opportunities to enhance QA program successSupports the overall management of and research required for regulatory exams, internal audits, and other monitoring and inspection reviews and evaluates data and information relevant to inspection metrics to support governance activities for dashboard reportingJob SummaryProvide analytical support in executing internal control discipline and operational excellence across various LOB/ECF. Gather and organize data in order to monitor and test the effectiveness of key controls and status of mitigation and action plans. Prepare documentation for the tracking, monitoring, and escalation of risk related issues to management. Acts as an ambassador of the risk culture. Incumbents typically have over 5+ years of risk management and/or Global Market Operations Line of Business experience.
The Operational Risk & Control (OR&C) team is seeking a candidate to support its Shared Operations Lines of Business. The OR&C team is responsible for the implementation of operational risk management policies, procedures, and standards for Global Markets Operations Globally. The team is directly accountable for Risk and Control issues of the Lines of Business it supports and also works with Corporate Operational Risk to implement GT&O Enterprise Risk standards. Key goals of the team are 1) promote a strong Risk Culture, 2) understand our Risk Profile and Risk Appetite, 3) establish sound risk management processes to effectively identify, measure, monitor, and control risk, and 4) ensure we have proper Risk Governance in place to communicate, escalate, and debate risks.Responsibilities:As a member of the Global Market Operations Risk & Control team, the position will be responsible for functions supporting the Shared Operations Line of Business. Responsibilities include:Perform root cause analysis of operational events and challenge control weaknesses and breakdowns to properly assess risk dispositionUnderstanding of operational processes: risks, controls and control metricsInstitute routines to oversee progress of risk mitigation efforts and mange timelines for issue closureScore risk issues in accordance with Bank of America Risk Framework and guidelinesDraft issue summaries and detailed action plans to document remediation approacho Enter issues formally into the Issue Management System of Recordo Collect and perform independent QA of evidence submitted for issue closureo Perform issue status reporting for various audienceso Perform trend analysis and horizontal impact assessments to determine themes and identify emerging riskso Support lines of business through routine exams with regulators and internal auditRequired Skills5+ Years of risk management and/or Global Market Operations ExperienceExcellent written and verbal communication skills ability to tailor messaging to senior managementAble to understand, analyze, and explain complex workflowsSelf-Starter who can work independently with little guidance or directionAbility to meet tight deadlines while working in a flexible environmentAttention to laws, rules & regulationsHigh technical expertise in MS Office platforms
Desired SkillsAudit, Global Markets, and/or Finance/Accounting experienceProject management experienceAbility to analyze, comprehend, and document complex processesHighly analytical Able to work with large data sets and workflowsSkills:Controls ManagementIssue ManagementMonitoring, Surveillance, and TestingQuality AssuranceRisk ManagementAnalytical ThinkingAttention to DetailCritical ThinkingProblem SolvingWritten CommunicationsDecision MakingInnovative ThinkingPrioritizationRecording/Organizing InformationResearchShift:1st shift (United States of America)
Hours Per Week:40
Pay Transparency detailsUS - NY - New York - 1100 Ave Of The Americas - Two Bryant Park (NY1540)Pay and benefits informationPay range$62,100.00 - $103,900.00 annualized salary, offers to be determined based on experience, education and skill set.Discretionary incentive eligibleThis 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.BenefitsThis 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.
The Operational Risk & Control (OR&C) team is seeking a candidate to support its Shared Operations Lines of Business. The OR&C team is responsible for the implementation of operational risk management policies, procedures, and standards for Global Markets Operations Globally. The team is directly accountable for Risk and Control issues of the Lines of Business it supports and also works with Corporate Operational Risk to implement GT&O Enterprise Risk standards. Key goals of the team are 1) promote a strong Risk Culture, 2) understand our Risk Profile and Risk Appetite, 3) establish sound risk management processes to effectively identify, measure, monitor, and control risk, and 4) ensure we have proper Risk Governance in place to communicate, escalate, and debate risks.Responsibilities:As a member of the Global Market Operations Risk & Control team, the position will be responsible for functions supporting the Shared Operations Line of Business. Responsibilities include:Perform root cause analysis of operational events and challenge control weaknesses and breakdowns to properly assess risk dispositionUnderstanding of operational processes: risks, controls and control metricsInstitute routines to oversee progress of risk mitigation efforts and mange timelines for issue closureScore risk issues in accordance with Bank of America Risk Framework and guidelinesDraft issue summaries and detailed action plans to document remediation approacho Enter issues formally into the Issue Management System of Recordo Collect and perform independent QA of evidence submitted for issue closureo Perform issue status reporting for various audienceso Perform trend analysis and horizontal impact assessments to determine themes and identify emerging riskso Support lines of business through routine exams with regulators and internal auditRequired Skills5+ Years of risk management and/or Global Market Operations ExperienceExcellent written and verbal communication skills ability to tailor messaging to senior managementAble to understand, analyze, and explain complex workflowsSelf-Starter who can work independently with little guidance or directionAbility to meet tight deadlines while working in a flexible environmentAttention to laws, rules & regulationsHigh technical expertise in MS Office platforms
Desired SkillsAudit, Global Markets, and/or Finance/Accounting experienceProject management experienceAbility to analyze, comprehend, and document complex processesHighly analytical Able to work with large data sets and workflowsSkills:Controls ManagementIssue ManagementMonitoring, Surveillance, and TestingQuality AssuranceRisk ManagementAnalytical ThinkingAttention to DetailCritical ThinkingProblem SolvingWritten CommunicationsDecision MakingInnovative ThinkingPrioritizationRecording/Organizing InformationResearchShift:1st shift (United States of America)
Hours Per Week:40
Pay Transparency detailsUS - NY - New York - 1100 Ave Of The Americas - Two Bryant Park (NY1540)Pay and benefits informationPay range$62,100.00 - $103,900.00 annualized salary, offers to be determined based on experience, education and skill set.Discretionary incentive eligibleThis 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.BenefitsThis 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.