Enterprise Financial Risk COO Program Manager

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.

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. Join us!

Enterprise Financial Risk (EFR) Overview

Enterprise Financial Risk (EFR) seeks to deliver effective independent risk management of the activities and processes associated with managing the Company's capital, liquidity and interest rate risks, including price risk in the CFO managed securities portfolio.

As the Chief Risk Officer (CRO) function covering the Chief Financial Officer (CFO) Group, we also bring together a holistic point of view across all seven risk types for the Company's CFO.

The team helps Bank of America grow responsibly through developing our teammates, promoting a diverse and inclusive culture, and approaching our work with intellectual curiosity.

EFR delivers its mission through a steadfast commitment to its values : cultivating diversity of thought and valuing different perspectives and experiences;

promoting learning, fostering relationships and creativity; developing talent, advancing careers, and creating leaders within Global Risk Management and across the company.

Our goal is to ensure that a healthy and sustainable liquidity, capital, and interest rate risk (IRR) profile is maintained through baseline economic scenarios, as well as during times of market and idiosyncratic stress.

EFR Team / Division : Chief Operating Officer (COO)

The EFR COO team is responsible for day-to-day operations of the broader EFR organization, including (1) Risk Governance Committees and independent oversight, (2) Executive & Board Reporting and Escalation, (3) Policies, Programs, and Standard Operating Procedures, and (4) Business Operations and Controls.

This includes core deliverables of both enterprise and vertical CRO programs, setting strategic priorities and escalation of top risks to senior management and the Board, as well as management of the groups single process inventory (SPI), regulatory engagement, expense management, onboarding and training programs, etc.

Our aim is to support Bank of America's purpose in making financial lives better through responsible growth, while maintaining healthy and sustainable liquidity, capital, and interest rate risk profiles through both business as usual and stressed environments.

Role Summary : EFR COO Program Manager

The EFR COO Program Manager will operate within Bank of America's Risk Framework, understand and drive all components of financial risk related programs, establish oversight of key program documentation, and evolve integration of our risk programs.

As a risk team with both horizontal and vertical risk coverage responsibilities, it is our role to ensure that all elements of the Policy, Program, and coverage model are implemented and operating effectively across coverage teams, as well as Lines of Business and Front-Line Units.

Examples of projects the candidate would be accountable for may include : Aggregate Risk Reporting to senior management and Legal Entity Boards, including summary of top financial risk and mitigants, risk Identification inventory review and challenge, review of new products for reputational risk, facilitation of CFO CRO forums and other related program deliverables, ad hoc risk memos to senior management, risk committee governance operations, and management of financial risk policies including monitoring adherence.

The role requires a person with curiosity and a passion for inquiry, comfort with ambiguity, and an entrepreneurial / learning mindset.

Self-motivated and flexible, the candidate will be adept at both creative and analytical thinking and have the willingness to work in a function that is evolving and maturing.

The position also requires the individual to build and maintain relationships with EFR teammates, as well as across the enterprise while working closely with other teams in Global Risk Management and the CFO Group.

Key responsibilities :

Draft and edit executive and committee reporting on a regular basis in a variety of formats, including power point and MS Word;

inclusive of complex financial risk content for an executive audience

• Develop and demonstrate acumen for the identification of various risks and mitigants
• Ensure appropriate and adequate documentation is maintained for policy and program requirements
• Deliver effective review and challenge of front line owned processes
• Establish, develop, and monitor risk program requirements, including policies and ensuring governance deliverables owned by the 2nd line of defense are met in a timely and effective manner
• Monitor execution of board and committee reporting, within the established governance structure
• Keep abreast of emerging regulatory requirements and provide guidance on the impact of these regulations to the 2nd Line of Defense
• Liaise with Audit, Compliance and other control functions
• Ensure understanding of the business processes that may increase our risk, as well as the mitigants to that risk
• Provide subject matter expertise related to financial risk program processes and deliverables to EFR teammates, Corporate Treasury and other partners across the enterprise, in order to drive the execution of the risk framework

Core Competencies :

• Vision- Takes a long-term view and builds a shared vision with others; acts as a catalyst for organization change. Influences others to translate vision into action
• Communication- Can articulately paint credible pictures & visions of possibilities and likelihoods
• Resilience- Deals effectively with pressure; remains optimistic and persistent, even under adversity. Recovers quickly from setbacks.

On occasion required to take an unpopular stand

Collaboration- Develops networks and builds alliances; collaborates across boundaries to build relationships and achieve common goals.

Influencing and negotiating across external stakeholders (regulators) as well as internal groups including LOB Risk teams, Corporate Treasury, GRRP, Audit & Compliance to drive execution

• Interpersonal Skills- Treats others with courtesy, sensitivity, and respect. Considers and responds appropriately to the needs and feelings of different people in different situations
• Leveraging Diversity- Fosters an inclusive workplace where diversity and individual differences are valued and leveraged to achieve the vision and mission of the organization.

Exposure and involvement with Employee Engagement initiatives including supporting Diversity & Inclusion efforts

Key Requirements :

• Strong analytical skills, including excellent writing, proofreading, and presentation (power point) skills; analysis of written reports and documentation with great attention to detail
• Writes in a clear, concise, organized, and convincing manner for the intended audience
• Takes Initiative; ability to work through a large volume of ongoing deliverables, manage projects, and pivot between tactical and strategic tasks
• Interaction with Senior Management regarding risk program requirements, deliverables, and key issues
• 8-10 years of Risk Management or other experience in the Banking industry; Note that diverse backgrounds or experiences are welcomed and will be considered
• Strong business-centric mindset with ability to utilize sound business judgment and tailor approach to drive optimal business outcomes

Critical Success Measures :

• Articulation of all risk program requirements and understanding of applicability for the 2nd Line of Defense
• Execution of responsibilities of the independent review function, as it relates to core program requirements
• Ensure that we are providing appropriate monitoring and analysis that allow us to support high quality risk insights
• Deliver against the book of work for Enterprise Financial Risk

Shift :

1st shift (United States of America)

Hours Per Week :