Risk Management Executive I

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 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.

The Model Risk Strategic Initiatives – Program Executive is responsible for building out a program management and strategic implementation framework, to provide enhanced oversight and delivery of strategic MRM programs that will continue to enhance the effectiveness of Model Risk’s processes and drive continue improvements. 
 
This leader will engage with an extensive set of stakeholders and activities globally, both within Model Risk Management and also with key partners within Model Development and Control teams, to understand model risk processes end-to-end and drive effective and sustainable improvements.

Responsibilities:

• Ability to lead strategic programs and projects across a range of disciplines (including delivery of large-scale technology solutions, platform / application automation and process re-engineering enhancements). 

• Lead engagement across MRM and partner with key stakeholders industry forums to underst