Operational Risk Control Leader
2 weeks ago
At Bank of America, our mission is to enhance financial well-being through meaningful connections. We are committed to Responsible Growth, which shapes our operations and our dedication to clients, employees, communities, and shareholders alike.
We strive to create an inclusive and diverse workplace, welcoming individuals from various backgrounds and experiences. Our investment in our employees and their families is reflected in our competitive benefits, designed to support their physical, emotional, and financial health.
Bank of America emphasizes collaboration while also providing flexibility tailored to different roles within our organization.
Joining our team means embarking on a fulfilling career with opportunities for learning, growth, and making a significant impact.
Position Summary:
This role is pivotal in leading and implementing internal control practices and operational excellence within a specific Line of Business (LOB) or Enterprise Control Function (ECF). The key responsibilities include executing LOB or ECF processes and tools to ensure compliance with enterprise-wide standards. Expectations involve supporting the establishment of quality assurance and quality control measures within the LOB or ECF through continuous monitoring and testing of controls, identifying issues, and recommending improvements for remediation, along with developing action plans and milestones.
The Enterprise Enforcement Action Oversight (EEAO) team is responsible for ensuring that the quality and content of documentation related to key deliverables required by regulatory Consent Orders are adequate to demonstrate compliance. This includes documentation associated with Enforcement Action Plans, Remediation Plans, and ongoing Progress Reporting. Reporting responsibilities encompass periodic updates to the Board, Committees, and Regulators, as well as sustainability monitoring and dashboards.
Each enforcement action necessitates collaboration with diverse stakeholder groups across the enterprise, with ongoing relationship management and education on enforcement processes being a continual responsibility for the EEAO team. The team serves as consultants to the Enterprise Project Management Office, utilizing their expertise in regulatory enforcement actions and expectations to design governance frameworks, deliverable timelines, executive reporting, and tollgate processes tailored for each enforcement action, drawing on best practices established by the team.
Key Responsibilities:
- Draft, compile, edit, and finalize regulatory Progress Reports and other responses, ensuring a cohesive narrative from multiple inputs.
- Coordinate documentation across key stakeholders, including Legal and Outside Counsel, to maintain consistency and alignment with Consent Orders.
- Review and edit various documents for consistency and accuracy.
- Monitor compliance with standards for Enforcement Action Plans, Remediation Plans, and ongoing Progress Reporting.
- Maintain a reporting calendar for Leadership Council, Compliance Committee, Board, and Regulators.
- Facilitate regular updates for Progress Reports to the Board, regulators, and other stakeholders.
- Collaborate with Regulatory Relations and EPMO on timelines related to Progress Reporting and regulatory examinations.
- Develop and oversee requirements for Consent Order Document Retention.
- Identify and escalate emerging risks related to the timely and successful completion of Consent Orders.
- A minimum of 5 years of experience in banking, risk management, or related fields, with knowledge of business control functions and the second and third lines of defense.
- Demonstrated ability to manage and lead the execution of multiple competing priorities while adhering to policies and standards.
- Strong analytical skills to conduct gap assessments and recommend data-driven solutions.
- Exceptional organizational skills and attention to detail, with the ability to work independently in a fast-paced regulatory environment.
- Critical thinking skills to analyze problems and propose both tactical and strategic solutions.
- Proven ability to deliver clear and effective executive messaging through written and oral communication in a complex organizational structure.
- Ability to build and maintain strong relationships across all organizational levels, emphasizing collaboration and teamwork.
- Adaptability to shifting priorities while maintaining quality and accuracy in deliverables.
- Proficiency in Microsoft Office Suite, particularly Word, Excel, and PowerPoint.
- Bachelor's Degree or equivalent experience.
- Experience in addressing regulatory matters and communications.
- Six Sigma Black Belt or Master Black Belt Certification.
- Paralegal experience.
- Regulatory experience.
- Records management experience.
- Previous management or audit experience preferred.
- Advanced skills in Visio.
- Written Narrative Reports
- Written Presentation Skills
- Proofreading and Document Review
- Controls Management
- Oral Communications
- Risk Management
- Stakeholder Management
- Strategy Planning and Development
- Continuous Improvement
- Engagement
- Influence
- Strategic Thinking
- Decision Making
- Problem Solving
1st shift (United States of America)
Hours Per Week:
40
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