Chief Operating Officer - Audit

Bank of America - Stamford, CT

Full-time - Executive

Stamford, CT

Credit Intermediation and Related Activities

About the position

The Chief Operating Officer (COO) for Audit at Bank of America is a pivotal role responsible for managing various business groups within Corporate Audit. This position entails executing personnel, communication, and expense management activities while ensuring that the audit strategy aligns with the company's goals. The COO will work closely with senior leadership to develop comprehensive audit coverage strategies and manage relationships with regulatory agencies and internal business management groups. The role emphasizes the importance of operational excellence, risk management, and effective communication across all levels of the organization. In this capacity, the COO will drive operational excellence by setting and monitoring key performance indicators, making recommendations to enhance business effectiveness, and developing strong stakeholder relationships. The position serves as a key integration point between the CFO, CAO, and GHR Audit teams, ensuring that robust risk management practices are embedded in all operations. The COO will lead various operational functions, including financial and workforce management, vendor management, and employee engagement, while also overseeing audit teams to ensure timely execution of the audit plan in accordance with quality standards. The role requires a strategic mindset to communicate Corporate Audit's mission and goals effectively, driving continuous improvement and supporting change initiatives. The COO will leverage a risk-oriented approach to identify and analyze risks, engage with senior leaders, and influence business partners to balance business strategy with appropriate risk management controls. Additionally, the COO will be responsible for developing the audit coverage strategy, assessing risks, and managing team performance through training and mentoring, ensuring a diverse workforce is attracted, developed, and retained.

Responsibilities

• Drive operational excellence in all aspects of the organization by setting and monitoring key performance indicators and making recommendations to increase business effectiveness.
• Serve as a key integration and coordination point to ensure strong linkages between CFO/CAO/GHR Audit team and peer organizations.
• Ensure strong risk management practices and policies are effectively integrated into all operations, including plan management and issue remediation.
• Drive effective management routines such as leadership meetings, scorecard reporting, business reviews, planning exercises, town halls, strategic communications, recognition, and employee engagement.
• Lead operational functions in support of CFO/CAO/GHR Audit team, including business management, financial and workforce management, workspace management, vendor management, and employee engagement.
• Communicate Corporate Audit's mission, goals, and strategies, emphasizing operational effectiveness and driving continuous improvement.
• Oversee audit teams to ensure timely execution of the audit plan within quality standards and in conformance to audit policies and procedures.
• Leverage a risk mindset to proactively identify risks, analyze themes, and evaluate areas of priority against the company's risk profile and control environment.
• Engage with senior leaders and influence business partners to balance business strategy with appropriate risk management controls.
• Maintain relationships with regulatory agencies and leadership teams by proactively driving communications and discussing audit results.
• Develop the audit coverage strategy and plan, assess risks, and provide appropriate coverage for current and/or emerging risks for assigned areas.
• Manage team performance by training and mentoring, and attract, develop, and retain a diverse workforce through talent planning.

Requirements

• 10 years of business operations experience in increasingly complex roles, including strategy, innovation, portfolio planning & management, business management, and risk management.
• Demonstrated ability to influence and integrate across functional lines and at all levels of seniority.
• Expertise in establishing and maintaining rigorous management discipline routines & processes.
• Ability to execute on multiple competing long and short-term priorities, often within tight time frames, while managing key stakeholder expectations.
• Ability to influence strategy and execute at a detailed level.
• Deep understanding of the Bank's Risk Framework and Audit, ideally both BofA and industry best practices.
• Superb written and verbal communication skills.
• Superior team player with demonstrated stakeholder management skills.

Nice-to-haves

• Experience in financial management and internal audit review.
• Familiarity with workforce diversity management practices.

Benefits

• Competitive salary and performance-based bonuses.
• Comprehensive health insurance plans including medical, dental, and vision coverage.
• 401(k) retirement savings plan with company matching contributions.
• Paid time off and holidays.
• Flexible work arrangements to support work-life balance.
• Professional development opportunities and tuition reimbursement programs.