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 and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates’ physical, emotional, and financial wellness through affordable, competitive and flexible benefits. We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve. Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs. At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

Position Summary:
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. Consumer Post Approval Review (CPAR) is a key component of the Credit Risk Framework, ensuring the risks associated with credit strategies and execution are effectively identified, measured, mitigated, and controlled. We have a broad reach covering US Consumer Card, Small Business, Consumer Vehicle Lending & Consumer Real Estate, across Credit, Fraud, Product and Collections. The Risk Management Specialist is accountable for Consumer post approval underwriting reviews (New Account Acquisition and Existing Account Credit), monthly review scheduling, process execution, and reporting. This role will participate in the creation of monthly reporting of Credit Risk themes and trends within front line units, and enterprise level, and may be expected to present to various levels of management. This role will have a pivotal role in maintaining and scheduling current state Credit Risk reviews across Consumer products and support process innovation by identifying opportunities for automation and efficiency. Assist in driving opportunities into a more operationally efficient future state. The ideal candidate for this role will be a self-starter comfortable working with various partners and platforms and have a strong desire to improve processes (both governance and technology).

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
• Perform detailed analysis of Consumer Underwriting decisions to validate adherence to policy/standards, procedures and sound decision making
• Candidate must exhibit an exceptional degree of ingenuity, creativity, and resourcefulness.
• Will apply and/or develop highly advanced data access routines.
• Often acts independently to identify and resolve issues associated with review findings
• Develop and maintain strong working relationships with front line units, risk and control partners including exposure to Executive management
• Promote a strong risk culture by using data/ analysis and action-oriented ideas for effective process challenge
• Report on adherence to policies, standards, and procedures
• Create detailed monthly reporting packages that support the Consumer Post Approval Review team. Reports will validate adherence to policy/standards, procedures and sound decision making.
• Drive inclusion of issue action plan development and remediation within all reporting packages
• Participate in PAR cross training across other Consumer products.

Required Skills:

• 5+ years of direct Consumer product underwriting experience (Consumer Real Estate or Consumer Vehicle Lending or Credit Card)
• Ability to interpret and demonstrate a deep understanding of the 5 categories of credit: character, capacity, capital, collateral, and conditions.
• 2+ years of Quality Assurance or Business Control experience related to consumer products
• Proficient computer/software skills - Experience with Microsoft Word, PowerPoint, Outlook, etc.
• Ability to effectively communicate and present (written & oral) to a variety of audiences
• Solid understanding of Risk Management and the Credit industry
• Oversight/Governance experience- Risk/Business Control/Compliance/Testing background
• Issue identification, escalation, and reporting experience
• Degree in Business, Economics, Finance, Quantitative, Data Science, marketing and/or professional certification's

Desired Skils:

• Experience in banking industry/financial services, preferably Credit Risk and/or key credit risk metrics
• Aspiration to learn data analysis, data manipulation, data reporting skills (e.g., Tableau, SAS, SQL, etc.)

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:

Hours Per Week: