Senior Business Control Specialist – Financial Center

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 leading and executing on internal control discipline and operational excellence within the Financial Center Channel.  Key responsibilities include executing business 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 business through ongoing monitoring and testing of controls, identifying issues and control improvements for remediation, and building out actions plans and milestones.

Responsibilities:

The Operations Approval Specialist will play a critical role in ensuring the integrity and security of high-risk transactions of Bank of America Clients. Risk review employs a risk and fraud prevention mindset to ensure the security of accounts and to minimize risk/losses to the company and clients.  This role relies upon the ability to demonstrate a sense of urgency and impeccable attention to detail while remaining disciplined in determining financial risk, fraud, and anti-money laundering violations of transaction.

• Manages the end-to-end process, risks, controls, and control metrics for assigned processes
• Development, implementation, monitoring and reporting process for controls and performance metrics
• Performs root cause analysis of non-performing metrics
• Collaborates with process owners on reaction plans when metrics are performing out of specification
• Assists with remediation efforts for audit issues, MRAs and control enhancements; ensures timely delivery of key milestones/action plans and closure of issues and projects
• Develops sustainable monitoring and control plans post-issue closure
• Drives risk identification culture within the business
• Collaborates with process owners to design process that are easy to follow; removes complexity
• Supports the implementation of optimized controls to support business continuity efforts
• Assists with the review and 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
• Supports new initiatives, including designing process and control impacts and development of implementation plans
• Maintain and continue to enhance the process, risk, control, metric inventory - Single Process Inventory (SPI)
• Develop strong partnership and influence decisions with peers and partners
• Assist with the development of materials for the tracking, monitoring, and escalation of risk related issues for all levels of the organization

Required Skills:

• Proficiency with money movement internal policies and procedures.
• Conduct comprehensive and thorough reviews of high-risk transactions to identify potential fraud and mitigate risk.
• Utilize advanced tools and techniques to detect fraudulent activities and take appropriate action to prevent financial loss.
• Error-free and timely processing of distribution requests.
• Ability to think analytically and effectively manage risk using strong research skills, applying best practices and leveraging past experiences to resolve problems.
• Respond promptly to high-risk alerts and escalate issues as necessary to ensure timely resolution.
• Work closely with client facing associates to ensure coordinated efforts with exception client care and risk management.
• Willingness and ability to play an active role in identifying and implementing process improvements.
• Work in a team/group environment; demonstrate a willingness/desire to share experiences or ideas with others.
• Strong ownership and resolution skills.
• Good organizational