Business Controls Manager

Bank of America; Pennington (AL); On-site; USD 104,000 - 160,000; Full time

Benefits offered by this job

Industry-leading benefits

Paid time off

Job summary

Bank of America is seeking a Senior Risk/Controls professional to lead proactive risk identification efforts and strengthen controls across multiple lines of business. You will collaborate with enterprise partners to implement key risk mitigations and improve client experience.

The role emphasizes leadership, governance, and data-driven decision making with a focus on regulatory alignment and operational excellence in a corporate setting.

Qualifications

• 5 or more years work experience in financial services
• Understanding of Merrill Edge clients and business
• Understanding of Financial Center clients and business
• Prior Experience in a Risk or Control Function

Responsibilities

• Support development of the Proactive Risk Identification strategic vision, document the strategy, communicate across enterprise partners and execute effectively.
• Complete Proactive Tactical Risk Assessments
• Drive execution of key strategic initiatives and cross team initiatives (i.e. process efficiency and risk mitigation opportunities)
• Track and monitor performance metrics for team and organizational opportunities
• Will support and manage other critical business functions
• Demonstrates leadership, leading through change and process improvements to deliver results
• Strong communications/presentations skills
• Strong PowerPoint and Excel skills with ability to tell story on paper at executive level
• Demonstrated ability to track and drive execution on priorities, including driving accountability across lines of business and peer group
• Self-starter able to work independently, with minimal oversight and guidance
• Strong organization skills, including the ability to manage multiple responsibilities, prioritize and meet deadlines
• Provide statistical analysis to identify trends and outlier metrics
• Knowledge of brokerage and/or banking industry, internal policies and procedures and mitigation strategies
• Ability to influence others with effective negotiating skills
• Familiar with Risk Mitigation and Controls Development

Skills

Risk management

Controls development

Communication

PowerPoint

Excel

Tools

Series 7

Series 66

9/10 licenses

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. Join us!

The candidate will support the SCCS Proactive Risk Identification team in creating a best-in-class overall client experience and risk controls environment. This role will help drive engagement across the enterprise to identify and lead execution on strategic opportunities to implement and mitigate key controls for a growing, highly regulated business. Initiatives will focus on risk management and operational excellence across Advanced Client Solutions, Consumer Investments, Financial Center Sales, Small Business and Lending driving integration where appropriate of our processes, further streamlining existing processes, associate/client experience, and support of the overall SCCS Regulatory and Issues Management controls strategy.

Responsibilities:

• Support development of the Proactive Risk Identification strategic vision, document the strategy, communicate across enterprise partners and execute effectively.


• Complete Proactive Tactical Risk Assessments


• Drive execution of key strategic initiatives and cross team initiatives (i.e. process efficiency and risk mitigation opportunities)


• Track and monitor performance metrics for team and organizational opportunities


• Will support and manage other critical business functions


• Demonstrates leadership, leading through change and process improvements to deliver results


• Strong communications/presentations skills


• Strong PowerPoint and Excel skills with ability to tell story on paper at executive level


• Demonstrated ability to track and drive execution on priorities, including driving accountability across lines of business and peer group


• Self-starter able to work independently, with minimal oversight and guidance


• Strong organization skills, including the ability to manage multiple responsibilities, prioritize and meet deadlines


• Provide statistical analysis to identify trends and outlier metrics


• Knowledge of brokerage and/or banking industry, internal policies and procedures and mitigation strategies


• Ability to influence others with effective negotiating skills


• Familiar with Risk Mitigation and Controls Development

Required Qualifications:

5 or more years work experience in financial services

Understanding of Merrill Edge clients and business

Understanding of Financial Center clients and business

Prior Experience in a Risk or Control Function

Desired Qualifications:

• Series 7, 66 and 9/10 a plus


• Previous management and/or audit experience preferred


• Business Controls, Quality Assurance or Corporate Audit experience a plus

Enterprise Job Description:
This job is responsible for leading and executing on internal control discipline and operational excellence within a Line of Business (LOB) or Enterprise Control Function (ECF). Key responsibilities include executing LOB or ECF 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 through ongoing monitoring and testing of controls, identifying issues and control improvements for remediation, and building out actions plans and milestones.

Responsibilities:

• Leads the assessment of the design and effectiveness of the risk and control environment to support Client Operational Services and ensure adherence to enterprise-wide standards


• Performs monitoring and testing of controls, identifying issues and control improvements for remediation


• Leads the implementation of optimized controls and enhanced Quality Assurance (QA) practices to support business continuity efforts


• Manages the performance and productivity of team members that conduct quality inspection reviews


• Ensures timely execution of QA activities including control execution, case management, and results reporting


• Manages and reviews all operations front line unit responses for regulatory exams, internal audits, and other monitoring and inspection reviews


• Ensures accuracy of data and that relevant information is captured for inspection metrics to support governance for dashboard reporting

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.

• Opportunity & Inclusion Champion: Models an inclusive environment for employees and clients, aligned to company Great Place to Work goals.


• Manager of Process & Data: Demonstrates deep process knowledge, operational excellence and innovation through a focus on simplicity, data based decision making and continuous improvement.


• Enterprise Advocate & Communicator: Communicates enterprise decisions, purpose, and results, and connects to team strategy, priorities and contributions.


• Risk Manager: Ensures proper risk discipline, controls and culture are in place to identify, elevate and debate issues.


• People Manager & Coach: Provides inspection, coaching and feedback to motivate, differentiate and improve performance.


• Financial Steward: Actively manages expenses and budgets in alignment with objectives, making sound financial decisions.


• Enterprise Talent Leader: Assesses talent and builds bench strength for roles across the organization.


• Driver of Business Outcomes: Delivers results by effectively prioritizing, inspecting and appropriately delegating team work.

Additional Skills:

• Controls Management


• Oral Communications


• Risk Management


• Stakeholder Management


• Strategy Planning and Development


• Continuous Improvement


• Drives Engagement


• Influence


• Strategic Thinking


• Talent Development


• Data and Trend Analysis


• Decision Making


• Monitoring, Surveillance, and Testing


• Problem Solving


• Quality Assurance

Shift:

1st shift (United States of America)

Hours Per Week:

40

Pay Transparency details

US - NJ - Pennington - 1400 American Blvd - Hopewell Bldg 4 (NJ2140), US - RI - Riverside - 3400 Pawtucket Ave - East Providence Call Center (RI1530)

Pay and benefits information

Pay range

$104,000.00 - $159,900.00 annualized salary, offers to be determined based on experience, education and skill set.

Discretionary incentive eligible

This role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.

Benefits

This role is currently benefits eligible. We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.