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 a diverse and 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.

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 assisting in providing risk oversight and advice to the Line of Business (LOB) on risk management issues. Key responsibilities include monitoring and adhering to risk management policies, limits, standards, controls, metrics and thresholds within the defined corporate standards, assisting in conducting execution of risk framework activities including independent monitoring and testing of controls and risk management processes for the LOB. Job expectations include the ability to recognize all risk categories including credit, market, operational, and compliance.

Responsibilities:

• Assists in establishing and overseeing the risk management governance structure for the Line of Business (LOB)
• Assists in conducting execution of risk framework activities including monitoring and testing of controls and risk management processes for the LOB
• Liaisons with businesses to understand market trends and impacts on portfolio, using knowledge of stress testing and its applicability to risk categories
• Ensures adherence to the policies and procedures established by the company
• Supports the management of risk requests, breach remediations and providing risk effective challenges for front line units

Skills:

• Analytical Thinking
• Credit and Risk Assessment
• Critical Thinking
• Portfolio Analysis
• Decision Making
• Oral Communications
• Presentation Skills
• Technical Documentation
• Written Communications
• Active Listening
• Issue Management
• Liquidity Management
• Monitoring, Surveillance, and Testing
• Regulatory Compliance

The Special Asset Group (SAG) manages the high risk/criticized or distressed commercial loan portfolio for Bank of America. The SAG Business Support team is seeking a Risk Management Sr Specialist to provide operational/business support for all functional areas within SAG. The ideal candidate would have experience with Regulatory Reporting, an understanding of accounting for equities and defaulted derivatives, and familiarity with the Credit Center underwriting platform.

Key responsibilities:

• Assisting with the SAG Debt Previously Contracted process, which involves supporting the booking of equity positions received via restructures for the SAG Lines of Business.
• Key contributor to SAG’s adoption of the Credit Center underwriting platform, including troubleshooting day to day issues.
• Provide support for regulatory and audit examinations.
• Assisting with the SAG Terminated Trade process for terminate derivatives.
• Provide support for the SAG KYC/AML refresh and on-boarding process.
• Perform routine and ad-hoc data queries from the Risk Data Warehouse.

Required Skills:

• Strong finance or accounting background with quantitative skills required.
• Working knowledge of database queries, LoanIQ, and Excel.
• Background in regulatory reporting and data.
• The ideal candidate would have 5+ years related experience (Commercial Loans/Credit Risk).
• Working knowledge of Credit Center underwriting platform a plus.

Shift:

1st shift (United States of America)

Hours Per Week:

40

Pay Transparency details

US - CT - Hartford - 185 ASYLUM ST - CITY PLACE 1 (CT2500), US - NY - New York - ONE BRYANT PARK - BANK OF AMERICA TOWER (NY1100), US - RI - Providence - 1 Financial Plaza (RI1537)

Pay and benefits information

Pay range

$81,400.00 - $124,500.00 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.