Risk Management Executive I

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:
The Risk Management Executive I is responsible for providing risk oversight, advice, and counsel to the LOB. Establish risk management policies, limits, standards, controls, metrics, and thresholds within the defined corporate standards. Ability to recognize all risk categories including credit, market, operational and compliance and bringing appropriate risk expertise as needed. Accountable for conducting execution of risk framework activities including, but not limited to, independent monitoring and testing of controls and risk management processes for the LOB. Establish and oversee the risk management governance structure for the LOB. May direct risk staff in establishing risk management procedures and standards, developing risk management analyses and reports, developing approval procedures and guidelines on risk limits by type of product and/or transaction, and in establishing management and administrative procedures to ensure adherence to policies.

Responsibilities:
• Lead Enterprise Issue Portfolio Analyses (Ad-hoc and periodic) across the Enterprise Portfolio to identify common trends, risks, and process improvement opportunities.
• Act as subject matter advisor to senior management across the Company within the remit of EIM.
• Report and escalate to senior management, including to relevant governance committee(s) on pattern(s) and trend(s) related to the Enterprise Issue Portfolio.
• Partner with colleagues across the Company to develop a deep understanding of issues, root causes, and events that may lead to Company-wide issues.

• Maintain and develop process level procedures and guidelines to ensure appropriate governance over Enterprise Issue Analyses.

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.

• Diversity & Inclusion Champion: Breaks down barriers to create a more inclusive environment that supports company D&I goals.
• Manager of Process & Data: Challenges end-to-end process efficiency and effectiveness, champion data driven decision-making and removes obstacles to optimize operations.
• Enterprise Advocate & Communicator: Contributes to enterprise strategy and influence messaging to connect team contributions to business purpose, results, and success.
• Risk Manager: Inspects and challenges risk controls, governance and culture to ensure the timely identification, escalation, debate and remediation of risk across the organization.
• People Manager & Coach: Coaches to sustain and elevates organizational performance while differentiating to ensure pay for performance.
• Financial Steward: Efficiently allocates and manages resources across the organization to drive short- and long-term profitability.
• Enterprise Talent Leader: Inspects and manages the health of the bench to ensure succession for the organization, while supporting enterprise talent needs.
• Driver of Business Outcomes: Mobilizes organizational resources to deliver the full range of the bank’s capabilities to meet client needs and to gain competitive advantage.
• Regulatory Compliance

Required Experience:

• 10+ years of experience in financial services industry, with an extensive understanding of Financial Services products and services
• Demonstrated executive presence, with the ability to engage and communicate at the executive level, establish, and maintain collaborative partnerships and provide thought leadership to strategic decisions.
• Critical thinker with the ability to influence senior leaders across GRM and partners, including to challenge the status quo, produce appropriate changes and implement goals.
• Capable of managing portfolios of high-quality deliverables according to strict timetables, and proven ability to perform comprehensive business analysis to address risk and business inquiries, ensuring end-to-end governance of solution delivery.
• Significant business knowledge of risk management and regulatory interactions.
• Strong analytical skills, with a proven ability to interpret data and drive desired outcomes
• Excellent written and verbal communication skills.
• Strong horizontal leadership skills across peers as well as vertical leadership in a matrixed environment; an individual who can lead a diverse associate population, inspire a strong sense of camaraderie and accountability, and motivate continuous improvements to performance.
• Able to attract, retain and develop top talent, strong coach.
• Effectively packages and communicates complex content and information.
• Can effectively navigate and deliver results in highly matrixed environment within Global Risk and beyond.

Desired Experience:

• Risk Management or Corporate Audit experience

Desired Skills:

• Critical Thinking
• Decision Making
• Executive Presence
• Talent Development
• Issue Management
• Liquidity Management
• Oral Communications
• Performance Management
• Written Communications
• Analytical Thinking
• Change Management
• Fiscal Responsibility
• Presentation Skills

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

– annualized salary, offers to be determined based on experience, education and skill set.

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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