Risk Management Sr Officer

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

The Documentation Standards Team resides within Model Testing Standards and Oversight (MTSO). The team sets and oversees the standards and infrastructure with which Global Risk Analytics (GRA) and Enterprise Independent Testing (EIT) teams prepare documentation for models, testing programs, and risk management to ensure delivery of high-quality, impactful written deliverables that drive operational excellence and organizational success. This includes supporting the GRA Documentation Framework, applying Enterprise requirements and maintaining Lines of Business specific requirements for procedures owned by GRA and EIT, and overseeing procedure inventories. The Risk Management Sr Officer will be responsible for supporting lifecycle oversight activities for in-scope documentation, including setting and enhancing documentation standards, training GRA and EIT teams, communicating with stakeholders, and monitoring and testing adherence to documentation standards and requirements.

Area of Focus

The primary focus of this job is to provide process oversight for Enterprise Independent Testing (EIT), which is the company’s centralized testing utility that conducts tests to help identify operational or compliance risks. Process oversight (which may include serving as a Process Owner or Process Delegate) entails managing the entire process lifecycle to ensure operational efficiency, effectiveness and alignment with organizational goals. Key responsibilities include assessing process risks and evaluating control metrics, identifying and resolving Issues, managing cost and efficient use of resources, collaborating with stakeholders, and championing continuous improvement to enhance process experience and outcomes.

Responsibilities

• Participates in establishing risk management procedures and standards
• Understands, manages, and / or process(es) in accordance with the Process Management – Enterprise Policy and related guidance
• Identifies and manages standardized risks inherent in process(es) and establishes controls to reduce the inherent risk of process failure and unanticipated outcomes
• Assesses process and control performance, remediates deficiencies in processes or controls, and measures the effectiveness of each control
• Identifies, manages, and / or oversees Issues and Control Enhancements in accordance with the Issues and Control Enhancements – Enterprise Policy and related guidance
• Engages stakeholders to understand trends and impacts on portfolio
• Develops risk management analyses, reports, and approval procedures and guidelines
• Ensures adherence to the policies and procedures established by the company

Skills

Required Experience

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 $120,000.00 - $170,000.00 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.

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