Business Control Specialist - Audit and Exams

Bank of America; Charlotte (NC); On-site; USD 70,000 - 100,000; Full time

Job summary

A leading financial institution seeks a dedicated professional to manage risk and compliance within its operations. The role involves overseeing audits, enhancing compliance programs, and collaborating with diverse teams to drive operational excellence. Ideal candidates will possess strong analytical skills and a background in audit or risk management.

Qualifications

• Minimum of 2 years experience within the GBAM AML organization.
• Strong understanding of risk management and core audit principles.
• Ability to work independently and manage time effectively.

Responsibilities

• Lead external audits and exams for compliance.
• Monitor and evaluate control effectiveness.
• Partner with stakeholders to ensure timely completion of audit milestones.

Skills

Controls Management

Quality Assurance

Risk Management

Analytical Thinking

Attention to Detail

Problem Solving

Written Communications

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 is core to how we drive Responsible Growth. This includes our commitment to being an inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.

Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations.

At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

Job Description:
This job is responsible for driving and 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 monitoring and testing controls and implementing quality assurance and quality control processes within the LOB or ECF by evaluating data to help identify, track, and report issues and control improvements for remediation.

Responsibilities:

• Oversees the design and effectiveness of the risk and control environment to support Client Operational Services and ensure adherence to enterprise-wide standards
• Supports the monitoring and testing of controls by evaluating data to identify issues and control improvements for remediation
• Implements optimized controls and enhanced Quality Assurance (QA) practices to support business continuity efforts
• Conducts and coordinates quality inspection reviews to enhance employee performance and control effectiveness
• Performs QA activities including executing on controls, managing cases, and reporting results
• Executes initiatives by identifying areas of potential testing automation, procedural updates, thematic trends, test script updates, and coaching opportunities to enhance QA program success
• Supports the overall management of and research required for regulatory exams, internal audits, and other monitoring and inspection reviews and evaluates data and information relevant to inspection metrics to support governance activities for dashboard reporting

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

Line of Business Job Description

Individual contributor who is an integral and active part of the Business Controls team within the Global Banking and Global Markets Ops Anti-Money Laundering (GBAM Ops AML) organization. The team is seeking to strengthen its risk management governance, accountability, routines, and strategy. The associate for this position would be expected to lead and coordinate with business partners and provide executive level ready responses to regulators as it relates to Audit and Exam efforts. The associate will serve as the primary point of contact and risk management oversight, supporting the Global Banking and Global Market AML Ops business units during audits and exams. The associate will manage the engagement activities, SLA timeframes, and interface between the external auditor/regulators and business units.

Responsibilities:

Primary responsibilities include:

• Lead, oversee and coordinate external audits and exams on behalf of the line of business (LOB)
• Partner with key stakeholders, schedule and facilitate meetings, as well as review and document complete and accurate LOB responses
• Track engagement requests, deliverables, and approvals to drive timely and accurate completion of all audit/exam milestones, presentation, and artifacts
• Partner with LOBs on any identified observations, action plan development and issue remediation closure
• Perform due diligence, root cause analysis, and control gap assessments
• Identify control deficiencies, discuss, review, and make recommendations with LOB for process and defect improvements
• Work collaboratively across the regions to support a consistent Audit and Exam, and Readiness strategy framework
• Ensure prompt escalation and leadership visibility to 'at risk' activities

Requirements:

• Minimum of 2 years experience within the GBAM AML organization
• Minimum of 2 years experience in an Audit, Risk, Compliance, or Business Control; Preferred 3 years related to audit and regulatory engagement activities
• Strong understanding of risk management and core audit methodology principles and practices
• Presentable, confident, with ability to conduct discussions with senior leaders and key stakeholders
• Excellent communications skills (verbal and written) with demonstrated ability to be clear, crisp, and to the point
• Strong analytical and problem-solving skills to identify trends, gaps, and risks as well as define alternative mitigation strategies
• Ability to form strong relationships and leverage conflict resolution strategies to gain agreement on risk improvement plans
• Ability to challenge peers and colleagues appropriately to ensure accuracy of content, explanation and responses
• Ability to work under pressure in a team environment
• Adapts well to changes and competing priorities
• Ability to liaise with all levels of the firm and people with different experiences and backgrounds
• Self-motivated and able to work independently. Candidate will be able to manage own time and know when to escalate

Other Qualifications:

• Background experience with AML Onboarding, KYC, Refresh, and/or Remediation
• Strives to bring new thoughts and ideas to teams in order to drive innovation and unique solutions
• Excels in working among diverse viewpoints to determine the best path forward
• Experience in connecting with a diverse set of clients to understand future business needs – is a continuous learner
• Commitment to challenging the status quo and promoting positive change.
• Participate in and drive collaborative efforts to advance tools, technology, and ways of working to better to serve the needs of the business
• Believes in value of diversity so we can reflect, connect and meet the diverse needs of our clients and employees around the world

Shift:

1st shift (United States of America)

Hours Per Week:

40