Risk Management Sr Specialist at Bank of America

Charlotte, North Carolina, United States -

Full Time

Start Date

Immediate

Expiry Date

14 Feb, 26

Salary

0.0

Posted On

16 Nov, 25

Experience

5 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

Analytical Thinking, Credit and Risk Assessment, Critical Thinking, Portfolio Analysis, Decision Making, Oral Communications, Presentation Skills, Technical Documentation, Written Communications, Active Listening, Issue Management, Liquidity Management, Monitoring, Surveillance, and Testing, Regulatory Compliance

Industry

Banking

Description

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 assisting in providing risk oversight and advice to the Line of Business (LOB) on risk management issues. Key responsibilities include monitoring and adhering to risk management policies, limits, standards, controls, metrics and thresholds within the defined corporate standards, assisting in conducting execution of risk framework activities including independent monitoring and testing of controls and risk management processes for the LOB. Job expectations include the ability to recognize all risk categories including credit, market, operational, and compliance. Responsibilities: Assists in establishing and overseeing the risk management governance structure for the Line of Business (LOB) Assists in conducting execution of risk framework activities including monitoring and testing of controls and risk management processes for the LOB Liaisons with businesses to understand 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 Supports the management of risk requests, breach remediations and providing risk effective challenges for front line units The position requires extensive knowledge of credit risk and experience with consumer real estate products; first mortgage and home equity. Must be intellectually curious driven to determine root cause by evaluating policy criteria as well as leveraging data to determine risk attributes potentially impacting underwriting due diligence as well as portfolio performance. Will have credit approval authority to approve highly complex or high value transactions including exceptions outside approved Front Line Unit risk tolerances. Responsible for independently or supporting other team members for oversight of credit risk activities: reviewing and approving credit policy changes; originations and portfolio analysis including performance monitoring; identification and analyzing of emerging risks, and other risk activities. Direct and conduct ad-hoc evaluation/analysis of policy expansion request, emerging issues and regulatory items requiring interaction across partners for best outcome. Active Credit Risk participant in related governance routines: regulatory, internal and across business segments. Required Qualifications: 5 + years of credit experience; preferably in consumer real estate Ability to effectively collaborate, challenge and influence business partners and peers Knowledge of consumer real estate policy and regulatory requirements Proven record of risk detection / risk mitigation work Executive-level written and oral communication skills Ability to work well under pressure, adapt to unexpected events, prioritize and multi-task in a deadline driven environment. Desired Qualifications: Bachelor's Degree Experience in underwriting complex home loans preferred Skills: Analytical Thinking Credit and Risk Assessment Critical Thinking Portfolio Analysis Decision Making Oral Communications Presentation Skills Technical Documentation Written Communications Active Listening Issue Management Liquidity Management Monitoring, Surveillance, and Testing Regulatory Compliance Shift: 1st shift (United States of America) Hours Per Week: 40 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. Getting started 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. 2. Think about why you can do the job and make a list of your skills that are relative to the job. 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. • Do be upbeat and active in your wording. • Do emphasize what you have done clearly and concretely. • Do be neat and well organized. • Do have others proofread and critique your resume. Spell check. Make it error free. • Do use high quality, white or light colored 8½ x 11 paper. Use a laser printer if possible. • Don't be dishonest, always tell the truth about yourself in the most flattering light. • Don't include salary history or requirements. • Don't include references. • Don't include accomplishments that do not support your professional goals. • Don't include anything that isn't relevant. (For example, don't mention your fondness for swimming unless you want to work on the water.) • Don't use italics, underlining, shadows or other fancy treatments. 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? 2. Research –What are the primary functions of the line of business? What are the success factors for the job? Is there a job description available? 3. Assess –Think about your skills, abilities, knowledge, interests, traits, values and accomplishments. Match them to what you know about the job. Consider which ones you should highlight. 4. Prepare Answers –Think about what the interviewer may ask, determine what the best answer is and write it down. 5. Prepare Questions – Interviewing is a two-way street. By asking thoughtful questions, you communicate your interest and learn a lot about the job. Choose two or three questions to ask your interviewer. Avoid asking a lot of questions about vacation time or breaks. 6. Practice – It may seem awkward, but it is the best way to come across well in an interview. Practice your own "great responses" with others or in front of a mirror until you appear relaxed and at ease. 7. Follow-up – Send a brief follow-up letter to the interviewer. Keep in mind that the many job searchers will not send a follow-up letter. Sending one can become a competitive advantage. Pay Transparency - https://careers.bankofamerica.com/en-us/pay-transparency Privacy Statement - https://careers.bankofamerica.com/en-us/privacy-notice

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Responsibilities

This job is responsible for assisting in providing risk oversight and advice to the Line of Business on risk management issues. Key responsibilities include monitoring and adhering to risk management policies, limits, standards, controls, metrics, and thresholds within the defined corporate standards.