Job Information
Bank of America Business Control Manager in Boston, Massachusetts
Business Control Manager
Pennington, New Jersey;Boston, Massachusetts; Charlotte, North Carolina; Jacksonville, Florida
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. 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. Join us!
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.
The Workplace Benefits Business Governance Control Manager manage risk across the business by promoting a strong risk culture and proactively partnering with Workplace Benefits senior leadership, product managers, legal, risk, compliance and enterprise process owners. Position requires interaction across all lines of business within Workplace Benefits and close partnership with control partners.
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
Oversee the health of the process and controls environment within aligned front line unit(s) (FLU(s)) and controls function(s) (CF(s)) to assure internal controls are properly designed and operating effectively, including implementing best practices and creating a continual improvement and risk identification culture
Take direct accountability, in partnership with process owners within aligned FLU(s)/CF(s), to ensure all activities are well documented with the appropriate controls, metrics and thresholds identified
Oversee and monitor processes, controls and control metric performance for aligned FLU(s)/CF(s) and horizontal risk themes
Promote and drive a culture of proactive identification and escalation of compliance and operational risk issues and leads actions to drive timely resolution of those risks and issues, as needed and in adherence to Regulatory Issue Steering Council guidelines.
Drive consistency in the execution of the Company’s Enterprise Process Management Policy for aligned FLU(s)/CF(s)
Continuously enhance and / or add additional controls in FLU(s)/CF(s) for continuous improvement.
Manages and reviews all operations front line unit responses for regulatory exams, internal audits, and other monitoring and inspection reviews
Promote a strong risk culture through identification and remediation of control gaps using the escalation and debate process
Manage external regulatory exams (i.e., OCC, FINRA, SEC), internal corporate audits and routine compliance testing
Coordinate audit issue remediation through the development of action plans, controls and sustainability activities
Provide guidance to business partners in creating policies and procedures and maintaining Single Process Inventory processes, risks, controls, and metrics to ensure critical business operational processes are well documented and performing
Skills :
Controls Management
Risk Management
Strategy Planning and Development
Oral Communications
Stakeholder Management
Continuous Improvement
Drives Engagement
Influence
Strategic Thinking
Data and Trend Analysis
Decision Making
Problem Solving
Required Qualifications :
Minimum of 5 years experience in the financial services industry with risk and governance experience
The candidate should possess strong written and verbal communication skills
Ability to interface with senior management, control partners, operations and various lines of business
Proven effectiveness in fast-paced, demanding environment.
Ability to plan and execute tactical actions within prescribed timelines to implement strategic objectives
Strong leadership abilities, communication and delegation skills
Proficiency with Microsoft Word, Excel, and PowerPoint
Minimum Education Requirement :
Bachelor’s Degree or equivalent work experience
Shift:
1st shift (United States of America)
Hours Per Week:
40
Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity and affirmative action, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other bases such as medical condition, marital status or any other factor that is irrelevant to the performance of our teammates.
To view the "EEO is the Law" poster, CLICK HERE (https://www.dol.gov/ofccp/regs/compliance/posters/pdf/eeopost.pdf) .
To view the "EEO is the Law" Supplement, CLICK HERE (https://www.dol.gov/ofccp/regs/compliance/posters/pdf/OFCCP_EEO_Supplement_Final_JRF_QA_508c.pdf) .
Bank of America aims to create a workplace free from the dangers and resulting consequences of illegal and illicit drug use and alcohol abuse. Our Drug-Free Workplace and Alcohol Policy (“Policy”) establishes requirements to prevent the presence or use of illegal or illicit drugs or unauthorized alcohol on Bank of America premises and to provide a safe work environment.
To view Bank of America’s Drug-free Workplace and Alcohol Policy, CLICK HERE .
This communication provides information about certain Bank of America benefits. Receipt of this document does not automatically entitle you to benefits offered by Bank of America. Every effort has been made to ensure the accuracy of this communication. However, if there are discrepancies between this communication and the official plan documents, the plan documents will always govern. Bank of America retains the discretion to interpret the terms or language used in any of its communications according to the provisions contained in the plan documents. Bank of America also reserves the right to amend or terminate any benefit plan in its sole discretion at any time for any reason.
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