Risk Management Exec I

$165,000 - $290,000/Yr

Bank of America - New York, NY

Full-time - Senior

New York, NY

10,001+ employees

Credit Intermediation and Related Activities

About the position

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities, and shareholders every day. One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We're devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being. Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization. Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. In this role, you will be responsible for providing risk oversight and advice and counsel to the Lines of Business (LOB). You will establish risk management policies, limits, standards, controls, metrics, and thresholds within the defined corporate standards. The ability to recognize all risk categories including credit, market, operational, and compliance is essential, as is bringing appropriate risk expertise as needed. You will be accountable for conducting execution of risk framework activities, including independent monitoring and testing of controls and risk management processes for the LOB. Additionally, you will establish and oversee the risk management governance structure for the LOB. This position may also involve directing risk staff in establishing risk management procedures and standards, developing risk management analyses and reports, and creating approval procedures and guidelines on risk limits by type of product and/or transaction. You will also be responsible for establishing management and administrative procedures to ensure adherence to policies. As a manager, you will demonstrate responsibilities such as being a Diversity & Inclusion Champion, a Manager of Process & Data, an Enterprise Advocate & Communicator, and a Driver of Business Outcomes. You will mobilize organizational resources to deliver the full range of the bank's capabilities to meet client needs and gain competitive advantage.

Responsibilities

• Provide risk oversight and advice to the Lines of Business (LOB).
• Establish risk management policies, limits, standards, controls, metrics, and thresholds.
• Recognize all risk categories including credit, market, operational, and compliance.
• Conduct execution of risk framework activities, including independent monitoring and testing of controls.
• Establish and oversee the risk management governance structure for the LOB.
• Direct risk staff in establishing risk management procedures and standards.
• Develop risk management analyses and reports.
• Create approval procedures and guidelines on risk limits by type of product and/or transaction.
• Establish management and administrative procedures to ensure adherence to policies.

Requirements

• 10+ years of experience in financial services industry or related field.
• Demonstrated ability to engage and communicate at the executive level.
• Establish and maintain collaborative partnerships and provide thought leadership.
• Critical thinker with the ability to influence senior leaders.
• Significant business knowledge of risk management and regulatory interactions.
• Strong analytical and organizational skills with attention to detail.
• Excellent written and verbal communication skills.
• Strong horizontal and vertical leadership skills in a matrixed environment.
• Ability to attract, retain, and develop top talent.

Nice-to-haves

• Experience in managing associates.
• Ability to challenge the status quo and implement changes.
• Strong coaching skills to elevate organizational performance.

Benefits

• Competitive benefits to support physical, emotional, and financial well-being.
• Opportunities for learning and career growth.
• Flexible working arrangements.