Risk Analysis Manager

6 days ago

Pennington, United States Bank of America Full time
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 supporting data requests, complex reporting and analysis, and modeling to manage risk and minimize operating losses. Key responsibilities include coordinating risk and scenario analysis, managing the review and analysis of portfolio trends, directing the development of more complex databases or queries to extract data, and supporting the production of data for internal and external reporting needs.

Responsibilities:
  • Develops, executes, and enhances reporting to allow Risk and business partners to effectively identify and manage risk
  • Manages the analysis of trends and oversees the data design, portfolio trends, loss trends, and portfolio dynamics to ensure alignment with business strategies
  • Serves as a liaison between the data, technology, and reporting teams in support of strategic initiatives affecting multiple Risk functions and lines of business to ensure company goals are met
  • Manages the production of performance reports for senior management, using data mining and other advanced analytical techniques to aggregate data
  • Responds to complex ad-hoc requests for information from both internal and external parties
  • Leads cross-functional strategic efforts to remediate data quality issues
  • Provides oversight of relevant systems and assures controls are operating effectively by monitoring outputs
Skills:
  • Business Intelligence
  • Data Visualization
  • Issue Management
  • Project Management
  • Risk Management
  • Business Acumen
  • Continuous Improvement
  • Risk Analytics
  • Stakeholder Management
  • Technical Documentation
  • Adaptability
  • Attention to Detail
  • Data and Trend Analysis
  • Performance Management
  • Regulatory Relations
Position is on the Policy and Business Controls team in Global Compliance and Operational Risk (GCOR). The role is primarily responsible for executing scenario analysis and assisting with other components of the Operational Risk loss forecasting and stress testing requirements. Scenario Analysis is a forward-looking assessment of the likelihood and severity of a hypothetical but plausible tail loss event for capital requirements and risk management. This role serves in a program lead function and coordinates among Front Line Units (FLU), Control Functions (CF), Finance, and Legal to ensure Material Compliance and Operational risks in the Risk ID inventory are covered by an appropriate Scenario Analysis Workshop.

Specific responsibilities include, but are not limited to:
  • Monitoring the Risk Identification (Risk ID) inventory changes to analyze scenario workshop coverage and determine if a new workshop should be executed
  • Coordinating among FLU, CF, and Legal partners to develop a narrative applicable to the FLU/CF and risk/product type, establish workshop preparation meetings, and lead discussions to achieve the common objective
  • Working with Legal so they can estimate associated fees, fines, etc
  • Securing necessary approvals from senior leaders across specific product and risk coverage areas
  • Ensuring proper documentation
  • Updating policies and standards
  • Managing Single Process Inventory (SPI) requirements, including process changes/updates as necessary, providing metric results and status updates on the program
  • Recertifying scenario workshops, risk drivers, and loss estimates on an annual basis as required by policy
  • Participating in quarterly stress testing activities as needed; coordinating exploratory scenarios with the Enterprise Scenario Planning and Execution (ESPE) team
  • Assisting with other loss forecasting deliverables, including coordination among model developers in Global Risk Analytics (GRA) and other stakeholders within GCOR
  • Participating in Risk Appetite metric discussions, analysis, and implementation related to Operational and Compliance Risk coverage
  • Assisting with interactions with internal audit and external regulators (in coordination with Exam Management) for inquiries regarding the scenario analysis program and loss forecasting
Required:
  • Business/Finance/Economics or other related undergraduate degree
  • 5+ years experience in risk management, risk identification, or risk analysis
  • Proven ability to transition between individual contributions and leading others working through projects and delivering on a common goal
  • Project management skills with the ability to prioritize tasks, meet deadlines, and achieve goals in driving change
  • Strong written and oral communication skills, with ability to communicate with both technical and executive audience
  • High proficiency with Excel and Power Point
Desired:
  • Experience communicating directly with front-line units and senior level executives
  • Ability to quantitatively assess risks through data, risk factors, and trend analysis
  • Knowledge of Operational and Compliance risks horizontally across the company
  • Knowledge of Basel rules and associated capital requirements
  • Experience preparing presentation materials for external parties, including regulators, and internal stakeholders, including senior level leaders and committees


Shift:
1st shift (United States of America)

Hours Per Week:
40

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