Risk Appetite and Risk Identification Program – Senior Specialist

Charlotte, NC, United States

Risk Appetite and Risk Identification Program – Senior Specialist page is loaded Risk Appetite and Risk Identification Program – Senior Specialist Apply locations Charlotte Chicago time type Full time posted on Posted 3 Days Ago job requisition id 24011132 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!

The Enterprise Risk Appetite (ERA) and Enterprise Risk Identification (Risk ID) team, part of the Global Risk Management (GRM) organization, is responsible for overseeing the execution of critical programs that represent foundational elements of company’s Risk Framework. Additional information on these programs as follows:

The company’s risk appetite indicates the amount of capital, earnings or liquidity we are willing to put at risk to achieve our strategic objectives and business plans, consistent with applicable regulatory requirements. The ERA program provides a common framework that includes a set of measures to assist senior management and the board of directors in assessing the company’s risk profile against our risk appetite and risk capacity. The ERA team manages the company’s Risk Appetite Statement and coordinates across Front-Line Units (FLUs) and GRM to develop both qualitative statements and quantitative limits that describe our approach to managing risks and indicate the amount of risk we are willing to take for given metrics. The ERA team is also responsible for the annual limit refresh, quarterly reporting of limits to the boards of directors, and providing a clear path for escalation of breaches.

The identification of risks is the first step in sound, proactive risk management, and is the starting point for the company’s strategic and capital planning processes. The primary objective of the Risk ID program is to create a holistic view of risks facing the organization across all FLUs and Control Functions (CFs). The Risk ID team is the custodian of the Enterprise Risk inventory and coordinates the quarterly refresh process partnering with stakeholders from FLUs, CFs and GRM. The Risk ID team is also responsible for analysis of the inventory for consistency or harmonization opportunities across the various FLU / CF inventories and across risk types. Additionally, the team solicits feedback from subject matter experts to help inform considerations and guidance on emerging risks (e.g., regional banking crisis, climate change, etc.).

The primary responsibility of the ERA and Risk ID Program Senior Specialist is driving the execution of these programs where risks and limits are established across lines of business and legal entities. This critical role will support the annual refresh of the Risk Appetite Statement and Limits, the quarterly Risk ID refresh, the Comprehensive Capital Analysis and Review (CCAR) exam and other related activities. Additionally, the role will include working with technology partners to maintain and enhance our proprietary platforms, refining and developing process documentation and training materials, and participating in strategic initiatives to further the long-term program objectives and evolution.

This role will create and foster relationships across GRM and the FLUs / CFs and promote a drive for process efficiency, user experience and program execution. Qualified candidates will demonstrate intellectual curiosity, exercise sound judgment, and seek operational excellence opportunities.

Responsibilities:

Assist management in the development and execution of various strategic initiatives to strengthen risk governance, the respective program frameworks, and the review / challenge process

Participate in the execution of foundational Risk Appetite and Risk ID processes (Annual Risk Appetite refresh, quarterly Risk ID inventory refresh, integration with other risk routines, enhancement programs and CCAR planning support)

Assist in the development and reporting on metric performance, thematic risk aggregation, and risk harmonization, as well as analyzing trends in metric breaches and emerging risk identification to provide senior management insights into risk profiles

Support exercises to review, maintain, and update core program processes within the Single Process Inventory to ensure control effectiveness for key creation, change, monitoring, and reporting activities

Serves as liaison to stakeholders to ensure timely responses to limit breaches, risk inventory changes, and documentation of related action plans

Assisting teammates in the maintaining of up-to-date procedures and program documentation (Risk Appetite Statement, Risk ID Standard, and Risk Appetite Guidelines) to provide clarity in stakeholder execution

Required Qualifications:

2+ years of financial industry or risk experience, including knowledge of general bank policies, programs and procedures

Strong stakeholder and relationship management skills, including the ability to interact, influence and communicate effectively with senior executives and business partners across the company

Excellent written / verbal communication skills with attention to detail, including accuracy and consistency

Strong analytical skills and ability to effectively challenge or identify limitations and assumptions

Skills:

Analytical Thinking

Credit and Risk Assessment

Critical Thinking

Portfolio Analysis

Decision Making

Oral Communications

Presentation Skills

Technical Documentation

Written Communications

Active Listening

Drives Engagement

Detail Oriented

Problem Solving

Technical Proficiency (MS Word, Excel, PowerPoint, SharePoint and Conferencing tools)

Effective Team Player and Sole Contributor

Shift:

1st shift (United States of America) Hours Per Week:

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Bank of America is committed to help employees through the transition period when they’re displaced as a result of a workforce reduction, realignment or similar measure. Please review the resume writing and interviewing tips provided below to help prepare you for your next career opportunity.

Regardless of the position you are interested in, the starting points to building your resume are the same:

1. Determine the job or types of jobs you want to do and research their responsibilities and qualifications.

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3. Identify experiences or accomplishments that show your proficiency in the skills required for the job.

4. Summarize your abilities, accomplishments and skills into a brief, concise document.

Considerations when writing a resume

• Do be brief. Resumes should be 1-2 pages in length.

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• Don't be dishonest, always tell the truth about yourself in the most flattering light.

• Don't include salary history or requirements.

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Seven steps to a successful interview

1. Anticipate –Put yourself in the interviewer's position. What do you believe the interviewer is most interested in? Why do you think you have been invited to interview?

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