Business Control Specialist

Bank of America; Plano (TX); On-site; USD 65,000 - 90,000; Full time

Job summary

Bank of America seeks an analyst to execute internal control discipline and QA within a Line of Business or Enterprise Control Function. The role emphasizes data gathering, control testing, and remediation to uphold enterprise standards.

Responsibilities include supporting monitoring, QA practices, and governance reporting, with experience in loan servicing, mainframe systems, and Excel/Word/PowerPoint proficiency expected.

Qualifications

• Intermediate accounting skills.
• 1–2 years of experience in loan or account administrator/processor, Commercial/wholesale lending preferred.
• Effective communication skills (listening, verbal and written).
• Working knowledge of Microsoft Excel, Word, PowerPoint with dual screens.

Responsibilities

• Assess the design and effectiveness of the risk and control environment to support Client Operational Services and ensure adherence to enterprise-wide standards.
• Provide administrative support for the monitoring and testing of controls by gathering and organizing data to identify issues and control improvements for remediation.
• Comply with controls and QA practices to support business continuity efforts.
• Conduct and coordinate quality inspection reviews to enhance employee performance and control effectiveness.
• Performs QA activities including executing on controls, managing cases, and reporting results.
• Supports initiatives by identifying potential procedural updates, test script updates, and data discrepancies to enhance QA program success.
• Supports operational research required for regulatory exams, internal audits, and other monitoring and inspection reviews and captures data and information relevant to inspection metrics to support governance activities for dashboard reporting.

Skills

Intermediate accounting

Loan administration experience

Effective communication

Microsoft Excel

Microsoft Word

PowerPoint

Education

College degree

Tools

Microsoft Excel

Microsoft Word

PowerPoint

Mainframe

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. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day. Being a Great Place to Work and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates' physical, emotional, and financial wellness through affordable, competitive and flexible benefits. We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve. Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs. At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact.

Job Responsibilities

This job is responsible for 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 supporting the implementation of quality assurance and quality control processes within the LOB or ECF by gathering and organizing data to help identify, track, and report issues and control improvements for remediation.

Responsibilities

• Assess the design and effectiveness of the risk and control environment to support Client Operational Services and ensure adherence to enterprise-wide standards.
• Provide administrative support for the monitoring and testing of controls by gathering and organizing data to identify issues and control improvements for remediation.
• Comply with controls and Quality Assurance (QA) practices to support business continuity efforts.
• Conduct and coordinate quality inspection reviews to enhance employee performance and control effectiveness.
• Performs QA activities including executing on controls, managing cases, and reporting results.
• Supports initiatives by identifying potential procedural updates, test script updates, and data discrepancies to enhance QA program success.
• Supports operational research required for regulatory exams, internal audits, and other monitoring and inspection reviews and captures data and information relevant to inspection metrics to support governance activities for dashboard reporting.

LOB Description

The analyst is responsible for performing Quality Assurance reviews on Commercial Loan in Middle Market, Business Banking, Special Assets Group, Small Business and Practice Solutions for fulfilment and/or servicing teams. Responsibilities include: Ability to accurately interpret loan agreements and validate accurate set up in System of Record (Client set up / Facility/loan set up) Verify terms and conditions within the loan agreement, renewal or amendment are displayed correctly on the commercial loan platform Verify accrual schedules are set up correctly for the life of the loan.

Successful Candidates

• Proficient in identifying data entry from a variety of sources, paper-based and/or electronic, into the loan system of record.
• Should have experience in account setup and loan servicing. Commercial/wholesale lending preferred.
• Have a general knowledge of loan structure, loan agreements and credit regulations.
• Have a general knowledge of loan accounting/reconciliation of general ledger debits and credits, including research and clearing exceptions on processed transactions.
• Identify and elevate quality assurance findings promptly, following appropriate communication channels.
• Communication - clear and concise communication of quality assurance findings.
• Drive execution - ownership and prompt follow up on defect remediation; debate of disputes in a professional manner and in accordance with process and procedures.
• Drive Change - support project work across multiple teams/sites. Influence change by identifying process gaps and recommending appropriate solutions – in compliance with current laws and regulation.
• Technology – commitment to technology initiatives and improvements. Proficient computer skills utilizing mainframe and PC software packages; Working knowledge of Microsoft Excel, Word, Power-Point with dual screens. Capability to work with multiple systems in order to validate accuracy.
• Collaborates – works effectively with others by establishing and maintaining positive working relationships.
• Act in accordance with the letter and spirit of all applicable laws, rules and regulations, the company’s code of conduct, risk framework, risk appetite statement and other relevant policies, standards, procedures and guidance. Is proactive in identifying, managing and controlling risks within the fulfillment space.

Required Qualifications

• Intermediate accounting skills.
• Minimum of 1 to 2 years of experience in the field of loan or account administrator/processor or equivalent (Commercial /wholesale lending preferred).
• Effective communication skills (listening, verbal and written).
• Working knowledge of Microsoft Excel, Word, Power-Point with dual screens.

Desired Qualifications

• College degree preferred.
• Skills: 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 Research.
• Shift: 1st shift (United States of America)
• Hours Per Week: 40

Privacy Statement

Privacy Statement: https://careers.bankofamerica.com/en-us/privacy-notice

Company Culture

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.

Partnering Locally

Learn about some of the ways Bank of America is making a difference in the communities we serve.

Global Impact

Learn about the six areas that guide Bank of America’s efforts to help make financial lives better for customers, clients, communities and our teammates.

Opportunity and Inclusion

Each employee brings unique skills, background and opinions. We see opportunity and inclusion as our platform for innovation and a key component in our success.

Our Values

Learn about our four values that represent what we believe.

Pay Transparency

Pay Transparency: https://careers.bankofamerica.com/en-us/pay-transparency