• Job Description

  Req#: 24016047

  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!

  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.

  The Business Control Specialist will be responsible for identifying, improving and measuring the controls for assigned Consumer Investment processes. Ensuring control performance remain in expected thresholds, identifying go to green plans and working with issues management team to address longer term control deficiencies.

  Key Responsibilities include:

  • Understands end-to-end Consumer Investment model including: risks, controls and control metrics
  • Responsible for monitoring and reporting process performance metrics for assigned processes
  • Performs root cause analysis of non-performing metrics
  • Collaborates with process owners on reaction plans when metrics are performing out of specification
  • Drives risk identification culture within the business
  • Collaborates with process owners to design process that are easy to follow; removes complexity.
  • Assists with remediation efforts for audit issues, MRAs and control enhancements; ensures timely delivery of key milestones/action plans and closure of issues and projects.
  • Develops sustainable monitoring and control plans post-issue closure.

  Additional Responsibilities:

  • Oversees the design and effectiveness of the risk and control environment to support Client Operational Services and ensure adherence to enterprise-wide standards
  • Supports the monitoring and testing of controls by evaluating data to identify issues and control improvements for remediation
  • Implements optimized controls and enhanced Quality Assurance (QA) practices to support business continuity efforts
  • Conducts and coordinates quality inspection reviews to enhance employee performance and control effectiveness
  • Performs QA activities including executing on controls, managing cases, and reporting results
  • Executes initiatives by identifying areas of potential testing automation, procedural updates, thematic trends, test script updates, and coaching opportunities to enhance QA program success
  • Supports 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 reporting

  Required Qualifications:

  • Experience working with compliance and/or regulatory matters
  • 3+ years of risk management and/or Line of Business, Compliance, Control, and/or business support experience
  • Very strong communications skills, both written and verbal; ability to communicate with individuals at all levels of the organization
  • Effective interpersonal skills and ability to solicit input from others
  • Advanced level skills with PowerPoint for proven ability to create business reporting and compelling written presentations that articulate business strategy and objectives.
  • Proficiency using Excel, front line systems and reporting tools
  • Detail oriented, self starter, and ability to work independently
  • Excellent organizational and analytical skills
  • Effective time-management skills
  • Ability to multi task, work with short deadlines and perform well under pressure

  Desired Qualifications:

  • Expert PowerPoint and Excel skills to include sources for inputs and outputs or use other tools to manage data
  • •Process mapping, Single Process Inventory, Process Owner portal knowledge.
  • •Process or Six Sigma background
  • •Experience with Visio or process mapping
  • •Prior experience working in Financial Services industry with experience leading

  Skills:

  • Controls Management
  • Issue Management
  • Monitoring, Surveillance, and Testing
  • Quality Assurance
  • Risk Management
  • Analytical Thinking
  • Attention to Detail
  • Critical Thinking
  • Problem Solving
  • Written Communications
  • Decision Making
  • Innovative Thinking
  • Prioritization
  • Recording/Organizing Information
  • Research

  Shift:

  1st shift (United States of America)

  Hours Per Week:

  40

  Pay Transparency details

  US - MD - Columbia - 10320 LITTLE PATUXENT PKWY - MERRILL LYNCH BUILDING (MD4935), US - MD - Hunt Valley - 11333 MCCORMICK RD - HUNT VALLEY (MD5031), US - RI - Lincoln - 670 George Washington Hwy (RI1541)

  Pay and benefits information

  Pay range

  $69,000.00 - $103,900.00 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.

• About the company

  Bank of America is one of the world's largest financial institutions, serving individuals, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services.

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