LOB Controls Oversight – Risk Management Senior Officer
Charlotte, NC
About the Position
LOB Controls Oversight is responsible for the finance control framework, operating in both an advisory and oversight capacity. Primarily a project-oriented team, with a dynamic portfolio of initiatives and programs designed to evaluate and mitigate financial and operational risk in an evolving regulatory climate. With a global scope, the team works in close partnership with Front Line Unit Finance, Legal Entity and Corporate Controllers, Global Reconciliation Governance, Regulatory Reporting, Operations, Risk and Audit (internal and external).
Support the development of a holistic risk management framework across all risks types including: credit, market, liquidity, operational, compliance, strategic and reputational. As a member of the Financial Market Utility (FMU) Risk Team responsibilities will span the continuum from designing and implementing the framework through to operationalizing it in a BAU environment.
This individual will report to the Counterparty Credit Risk Executive for Financial Market Utility (FMU) Risk.
Post implementation of the governance framework the Counterparty Credit Risk Manager will be responsible for overseeing credit, market and liquidity risk across the FMU portfolio.
Financial Control Oversight or FCO has firm-wide responsibility for ensuring appropriateness of externally reported financial information. The group works closely with several internal control functions within the Business and Finance Organizations, Operational Risk, Compliance, Corporate Audit and the Company’s external Auditors.
Primary Responsibilities
- Enterprise-wide Internal Control over Financial Reporting: Managing Sarbanes-Oxley 404 Compliance, Disclosure Controls and Procedures (DCP) and FDICIA Compliance.
- Operational Risk Management for Finance: Operational Risk Reporting, Key Risk Indicators, Business Continuity, Records Management, etc.
- Enterprise-wide Reconciliations: Governance over account reconciliations and firmed-owned bank accounts
- Finance Quality Assurance: Process Risk Assessment, QA metrics/scorecards, RCSA, Spreadsheet Compliance and Model Risk Management.
Required Skills
- Bachelor’s Degree
- 5+ years of relevant governance, risk, control experience, specifically in areas of Accounting and/or Finance in a large, fast-paced, results-oriented company with a demonstrated history of success.
- Effective partnering skills enabling navigation of the complexities associated with aligning stakeholders, building consensus and resolving conflicts; proven ability to influence peers/stakeholders and representatives across multiple groups.
- Ability to communicate complex ideas in a clear and concise manner, influencing the opinions and actions of key stakeholders and gaining their trust; experience in effectively interacting with senior management.
- Highly developed project-management skills; ability to handle multiple priorities in a fast paced environment.
- Strong decision-making qualities; proven ability to lead and develop others.
Interested in applying to this career opportunity?
Please email Taylor Frank, [email protected], and include Bank of America LOB Controls Oversight Risk Management Sr Officer in the subject line.
About Bank of America Merrill Lynch
Merrill Lynch Wealth Management is a leading provider of comprehensive wealth management and investment products and services for individuals, companies, and institutions. Merrill Lynch wealth management is one of the largest businesses of its kind in the world specializing in goals-based wealth management, including planning for retirement, education, legacy, and other life goals through investment advice and guidance.
Merrill Lynch’s financial advisors help clients pursue the life they envision through a one-on-one relationship with an advisor committed to their needs. We believe trust comes from transparency. Our trusted financial advisors are equipped with access to the investment insights of Merrill Lynch coupled with the banking convenience of Bank of America.
Bank of America is one of the world’s largest financial institutions, serving individuals, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company serves approximately 56 million U.S. consumer and small business relationships. It is among the world’s leading wealth management companies and is a global leader in corporate and investment banking and trading.
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