Risk Management Executive

2 weeks ago

Charlotte, 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:
Responsible for providing risk oversight and 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.

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.
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
  • Regulatory Compliance
The GCB and BB Chief Risk Officer is accountable for, but not limited to the following activities:
  • Provide challenge function to the FLU/CF managing risk well in support of responsible growth and operational excellence
  • Partner and support FLU/CF to mitigate risk (i.e. strategic business planning, new products, client selection, etc.)
  • Aggregate and escalate risk in accordance with established criteria in partnership with risk horizontals
  • Conduct benchmarking, post-mortem, and thematic analysis on current and emerging risks; ensure the right monitoring and testing are in place
  • Oversee, challenge and approve FLU/CF risk appetite tolerance metrics, triggers and limits; ensure that action is taken when metrics exceed risk profile/tolerance levels in partnership with risk horizontals
  • Ensure the effectiveness of risk governance routines; participate in an advisory capacity providing independent challenges; serve as a co-chair for FLU and reputational risk committees
  • Serve as primary and joint risk committee member covering FLU/CF items such as Flood Council, New Product Approval, and Commercial Credit Risk Policy Review and challenge the accuracy and completeness of the RCSA content; escalate any unresolved challenges to the FLU/CF Risk Executive for resolution
  • Review, challenge and approve KRI triggers and limits, additions, modifications, and deletions; understand KRI breaches and mitigation plan for appropriate action
  • Provide appropriate challenge during the planning, execution and post workshop assessment of scenario building and modeling
  • Monitor and approve modification of loss events and CCAR activities; participates in the Risk ID, recovery resolution and model development process
  • Act as primary regulatory and Board committee Risk representative providing a holistic view of risks for the FLU/CF they cover
  • Utilize technology and quantitative tools to enhance senior level decision making
Required Qualifications:
  • Bachelor's Degree or higher
  • 10+ years of Commercial/Business Banking risk experience
  • Business acumen and a strong understanding of the consumer banking environment
  • Strong interpersonal, written and verbal communication skills
  • Ability to effectively influence, challenge and negotiate actions and outcomes across a large matrixed organization
  • Exemplary stakeholder and relationship management skills
  • Ability to clearly articulate a point of view at all levels of the company
Desired Qualifications:
  • Communicates with impact
  • Works effectively as a sole contributor, leading and directing work by influence
  • Ability to Interface with other Risk subject matter experts to ensure comprehensive risk coverage and analysis


Shift:
1st shift (United States of America)

Hours Per Week:
40

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