Manager of Risk Assessment

2 weeks ago

Dallas, Texas, United States Bank of America Full time
Job Overview:

At Bank of America, our mission is to enhance financial well-being through meaningful connections. We prioritize Responsible Growth, ensuring we serve our clients, teammates, communities, and shareholders effectively.

We are committed to fostering a diverse and inclusive environment for all employees. Our investment in our workforce includes competitive benefits aimed at supporting their physical, emotional, and financial health.

We believe in collaboration while providing flexibility tailored to various roles within our organization.

Working at Bank of America offers a rewarding career with opportunities for professional development and the chance to make a significant impact.

Position Summary:
This role involves managing data requests, complex reporting, and analytical modeling to mitigate risks and reduce operational losses. Key duties encompass coordinating risk assessments, analyzing portfolio trends, developing intricate databases or queries for data extraction, and facilitating data production for both internal and external reporting requirements.

Key Responsibilities:
  • Designs, implements, and refines reporting mechanisms to enable Risk and business partners to effectively identify and manage risk.
  • Oversees trend analysis and data design, ensuring alignment with business strategies through the examination of loss trends and portfolio dynamics.
  • Acts as a liaison among data, technology, and reporting teams to support strategic initiatives impacting multiple Risk functions and business lines.
  • Generates performance reports for senior management, utilizing data mining and advanced analytical techniques to synthesize information.
  • Addresses complex ad-hoc information requests from internal and external stakeholders.
  • Leads strategic efforts to resolve data quality challenges across functions.
  • Monitors relevant systems to ensure effective control operations through output assessments.
Required Skills:
  • Expertise in Business Intelligence.
  • Proficiency in Data Visualization.
  • Strong Issue Management capabilities.
  • Project Management experience.
  • Solid understanding of Risk Management principles.
  • Business Acumen.
  • Commitment to Continuous Improvement.
  • Knowledge of Risk Analytics.
  • Effective Stakeholder Management.
  • Technical Documentation skills.
  • Adaptability in a dynamic environment.
  • Attention to Detail.
  • Proficient in Data and Trend Analysis.
  • Performance Management experience.
  • Understanding of Regulatory Relations.
This position is situated within the Policy and Business Controls team in Global Compliance and Operational Risk (GCOR). The primary focus is on executing scenario analysis and supporting various components of Operational Risk loss forecasting and stress testing requirements. Scenario Analysis involves a forward-looking evaluation of potential tail loss events relevant to capital requirements and risk management. This role coordinates with Front Line Units (FLU), Control Functions (CF), Finance, and Legal to ensure that Material Compliance and Operational risks are adequately addressed through appropriate Scenario Analysis Workshops.

Specific Duties Include:
  • Monitoring changes in the Risk Identification (Risk ID) inventory to assess scenario workshop coverage and determine the need for new workshops.
  • Collaborating with FLU, CF, and Legal partners to craft narratives relevant to the FLU/CF and risk/product types, organizing preparation meetings, and leading discussions to achieve shared objectives.
  • Working with Legal to estimate potential fees, fines, etc.
  • Securing necessary approvals from senior leaders across specific product and risk areas.
  • Ensuring thorough documentation.
  • Updating policies and standards as required.
  • Managing Single Process Inventory (SPI) requirements, including necessary process updates, and providing metric results and program status updates.
  • Recertifying scenario workshops, risk drivers, and loss estimates annually as mandated by policy.
  • Participating in quarterly stress testing activities and coordinating exploratory scenarios with the Enterprise Scenario Planning and Execution (ESPE) team.
  • Assisting with other loss forecasting deliverables, including collaboration with model developers in Global Risk Analytics (GRA) and other stakeholders within GCOR.
  • Engaging in discussions related to Risk Appetite metrics, analysis, and implementation concerning Operational and Compliance Risk coverage.
  • Facilitating interactions with internal audit and external regulators regarding the scenario analysis program and loss forecasting.
Qualifications:
  • Undergraduate degree in Business, Finance, Economics, or a related field.
  • 5+ years of experience in risk management, risk identification, or risk analysis.
  • Demonstrated ability to shift between individual contributions and leading teams to achieve project goals.
  • Project management skills with the ability to prioritize tasks and meet deadlines.
  • Strong written and verbal communication skills, capable of engaging both technical and executive audiences.
  • High proficiency in Excel and PowerPoint.
Preferred Qualifications:
  • Experience in direct communication with front-line units and senior executives.
  • Ability to quantitatively assess risks through data analysis and trend evaluation.
  • Knowledge of Operational and Compliance risks across the organization.
  • Familiarity with Basel rules and associated capital requirements.
  • Experience in preparing presentation materials for external parties, including regulators, and internal stakeholders, including senior leaders and committees.
Shift:
1st shift (United States of America)

Hours Per Week:
40

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