Risk Management Executive - Risk Rating Scorecard

Bank of America

Newark (NJ)

On-site

USD 120,000 - 160,000

Full time

8 days ago

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Job summary

Bank of America is seeking an experienced risk leader responsible for providing risk oversight, policy development, and governance for a major line of business. The role emphasizes controls, monitoring, and escalation to ensure risk limits are met and risk frameworks are adhered to across credit, market, operational, and compliance areas.

The position includes advising front-line units, influencing risk culture, and managing associates as needed.

Qualifications

10+ years experience in Global Risk Management, Control Function or Credit.
Proven project management experience.
Strong written and verbal communication skills.
Ability to build effective business partnerships and executive presence.

Responsibilities

Oversees risk management procedures and standards for the line of business.
Guides execution of risk framework activities, including independent monitoring and testing of controls.
Analyzes market trends and stress testing implications across risk categories.
Ensures compliance with company policies and risk limits.
Provides risk insights, reports, and approval guidelines for various products/transactions.

Skills

Critical Thinking

Decision Making

Executive Presence

Talent Development

Issue Management

Liquidity Management

Oral Communications

Performance Management

Written Communications

Analytical Thinking

Change Management

Fiscal Responsibility

Presentation Skills

Regulatory Compliance

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!

Job Description:

This job is responsible for providing risk oversight, advice, and counsel to a line of business. Key responsibilities include establishing risk management policies, limits, standards, controls, metrics and thresholds within the defined corporate standards. Job expectations include the ability to recognize all risk categories including credit, market, operational and compliance leveraging risk expertise.

Responsibilities:

Oversees the establishment of risk management procedures and standards
Provides guidance and insight into the execution of risk framework activities including independent monitoring and testing of controls and risk management processes for the Line of Business
Understands market trends and impacts on portfolio, using knowledge of stress testing and its applicability to risk categories
Ensures adherence to the policies and procedures established by the company
Oversees risk requests, breach remediations and providing risk effective challenges for front line units
Gives counsel on risk management analyses, reports, and approval procedures and guidelines on risk limits by type of product and/or transaction

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: Breaks down barriers to create a more inclusive environment that supports company Great Place to Work goals.
Manager of Process & Data: Challenges end-to-end process efficiency and effectiveness, champion data driven decision-making and removes obstacles to optimize operations.
Enterprise Advocate & Communicator: Contributes to enterprise strategy and influence messaging to connect team contributions to business purpose, results, and success.
Risk Manager: Inspects and challenges risk controls, governance and culture to ensure the timely identification, escalation, debate and remediation of risk across the organization.
People Manager & Coach: Coaches to sustain and elevates organizational performance while differentiating to ensure pay for performance.
Financial Steward: Efficiently allocates and manages resources across the organization to drive short and long term profitability.
Enterprise Talent Leader: Inspects and manages the health of the bench to ensure succession for the organization, while supporting enterprise talent needs.
Driver of Business Outcomes: Mobilizes organizational resources to deliver the full range of the bank’s capabilities to meet client needs and to gain competitive advantage.

Required Qualifications: