Senior Risk & Business Control Specialist

Company: Disability Solutions
Location: Charlotte
Posted on: October 30, 2024

Job Description:

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.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 reportingSkills:
  • 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
  • ResearchLine of Business Job Description:The candidate will support the Global Banking & Global Markets Anti-Money Laundering (GB & GM AML) organization and program. This role requires a strong operational risk and compliance background, and understanding of AML requirements. Acts as an ambassador of the risk culture. Incumbents typically have a minimum of 3 years of quality assurance, compliance, audit, and/or business controls experience.Main objectives of the team are to promote a strong Risk Culture, establish sound risk management processes to effectively identify, measure, monitor, and control risk, and ensure we have proper Risk Governance in place to communicate, escalate, and debate risks.Responsibilities may include:
    • Perform root cause analysis of operational events and challenge control weaknesses and breakdowns to properly assess risk disposition
    • Perform trend analysis and horizontal impact assessments to determine themes and identify emerging risks
    • Support LOB through routine exams with regulators and internal audit
    • Implement process control improvements and leverage BAC Risk Framework to effectively manage LOB risk
    • Demonstrate strong collaboration, influencing, and relationship management skills to bridge key stakeholders across Audit, Risk, and LOB SMEs
    • Support Audit, Exam and/or Testing processes, ensure proper governance and protocol is followed.
    • Provide solutions to help with implementation of process improvements or remediation plans to drive efficiencies and demonstrate sustainability
    • Coordinate and partner across other GB&GM support teams and stakeholders to ensure end-to-end process engagement and timely resolution of monitoring casesRequired Skills:
      • Working knowledge of Risk, Quality Control/Assurance Framework
      • Excellent written and verbal communication skills - ability to tailor messaging to senior management
      • Able to understand, analyze, and explain complex workflows
      • Self-Starter who can work independently with little guidance or direction
      • Ability to meet tight deadlines while working in a flexible environment
      • Attention to laws, rules & regulations
      • High technical expertise in MS Office platforms
      • Project Management skills and ability to manage various project timelines with multiple competing priorities
      • Strong verbal and written communication skills as well as interpersonal skills
      • Ability to read and understand complex matters, anticipate risks, and summarize key information
      • Critical thinking skills to assess data, artifacts and new or unfamiliar business concepts to draw conclusions that are not readily apparent
      • Strong research and analytical skills and attention to detail but in context with broader business landscape
      • Ability to prioritize effectively, a self-starter, organized, capable of performing work independently with minimal direction.
      • Ability to interact with people in all levels of the organization and ability to organize data for executive level reporting
      • Strong presentation skills and the ability to present key messages, effective recommendations, and information in a clear, concise, insightful and influential wayShift:1st shift (United States of America)Hours Per Week: 40

Keywords: Disability Solutions, Spartanburg , Senior Risk & Business Control Specialist, Other , Charlotte, South Carolina