Sr Business Control Specialist

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 driving and executing on internal control discipline and operational excellence within a Line of Business (LOB) or Enterprise Control Function (ECF). Key responsibilities include providing analytical and administrative support for LOB or ECF specific processes and tools to drive adherence to enterprise-wide standards. Job expectations include monitoring and testing controls and implementing quality assurance and quality control processes within the LOB or ECF by evaluating data to help identify, track, and report issues and control improvements for remediation.

Manages diverse administrative functions usually for a very large, complex department or business unit. Functions managed may include financial control/budgeting and consolidation, personnel processes, audit/compliance, premises, and coordination of certain projects, associate training, service quality, process improvement, business continuity, or communication. May consult with senior management to define and manage projects that encompass and impact many associates. Requires a thorough knowledge of the department or business unit's functional area or products. Working knowledge of general bank policies, programs and procedures and financial/accounting practices. May have full management responsibility over a team or may manage one level of managers.

Enterprise Credit COO team has a centralized Third Party Governance responsible for driving and executing compliance with the Global Third Party Management Program and related Third Party requirements. This Sr Business Control Specialist role is critical to the effective management, risk mitigation and data protection of BAC and customer data that is shared by and between the Bank and key critical payment vendors.  This role will support the new BofA Enterprise Data Transmission Standard and Key Third Party Program Deliverables for managed vendors on behalf of Enterprise Credit Third Party Engagement Managers. The person will need to work closely with third party engagement managers, technology, vendor managers and lines of business across Consumer and Commercial Credit. Key responsibilities include:

Responsibilities:

• Oversees the design and effectiveness of the risk and control environment to support Client Operational Services and ensure adherence to enterprise-wide standards
• Supports the monitoring and testing of controls by evaluating data to identify issues and control improvements for remediation
• Implements optimized controls and enhanced Quality Assurance (QA) practices to support business continuity efforts
• Conducts and coordinates quality inspection reviews to enhance employee performance and control effectiveness
• Performs QA activities including executing on controls, managing cases, and reporting results
• Executes initiatives by identifying areas of potential testing automation, procedural updates, thematic trends, test script updates, and coaching opportunities to enhance QA program success
• Supports the overall management of and research required for regulatory exams, internal audits, and other monitoring and inspection reviews and evaluates data and information relevant to inspection metrics to support governance activities for dashboard reporting
• Execute Data Transmission Registration (DTR) and Permit to Send (PTS) process requirements within the DTR tool, including overlapping horizontal activities (Cloud Governance, Application Governance, Model Risk, etc.)
• Manage new DTR requests and updates to existing DTR, maintaining DTR quality. Ensure DTRs meet new Data Transmission Policy and Standard requirements (SPI alignment, Contract alignment, individual registration case break out by transmission direction, transmission method, etc.) and drive remediation of any inaccuracies. Conduct annual DTR cert