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Risk Process Analyst

Bank of America

Bank of America

IT
Atlanta, GA, USA · Multiple locations · Plano, TX, USA · Texas, USA · Arizona, USA · Jacksonville, FL, USA · Florida, USA · Chicago, IL, USA · Illinois, USA · United States · Remote
Posted on Tuesday, June 25, 2024

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!

Job Description:

Works under senior management and with other team members. Proactively monitors and remediates incoming data used in risk measurement and reporting. Ensures the completeness, validity, and accuracy of data on a daily basis. Creates reports and analysis on the quality of data used in risk systems. Implements effective risk controls for our data processes and systems. Participates in user acceptance testing of data control processes.

Risk Process Analyst

Team Overview

Global Risk Analytics (GRA) and Enterprise Independent Testing (EIT) are sub-lines of business within Global Risk Management (GRM). Collectively, they are responsible for developing a consistent and coherent set of models, analytical tools, and tests for effective risk and capital measurement, management and reporting across Bank of America. GRA and EIT partner with the Lines of Business and Enterprise functions to ensure the capabilities it builds address both internal and regulatory requirements, and are responsive to the changing nature of portfolios, economic conditions, and emerging risks. In executing its activities, GRA and EIT drive innovation, process improvement and automation.

Role Overview

We are seeking Risk Process Analysts to join our team. This role is integral to the Bank’s commitment to process excellence and the candidate will learn about, and conduct activities that support, all aspects of the end-to-end testing lifecycle. The team develops and executes tests to evaluate the effectiveness of Bank of America’s processes and controls, and adherence to applicable Laws/Rules/Regulations, policies, and procedures. The processes to be assessed are in areas that span across all Lines of Business from Consumer to Global Markets and cover Products (e.g., card, mortgage, derivatives), Regulations (e.g., Reg W, Dodd Frank), and Enterprise Processes (e.g., Fraud, AML, Payments, Complaints), providing an opportunity for candidates to gain wide exposure to how the Bank operates early in their careers. The outputs of the tests are used by the Bank to drive process improvements and timely detection and reporting of errors.

The Risk Process Analyst works closely with teammates in GRA/EIT as well as process owners in the Lines of Business and Enterprise functions to obtain an understanding of processes, including underlying data, flows, and controls, and to identify risks to successful execution, so that appropriate testing and monitoring can be developed. Examples of day-to- day responsibilities a Risk Process Analyst may perform include:

  • Collaborate with key stakeholders across the Bank to identify risks and prioritize testing needs
  • Document and analyze testing requirements
  • Source and evaluate data required for testing
  • Design and develop tests
  • Document tests in a manner that is clear, concise and repeatable
  • Use programming skills and knowledge of software development lifecycle principles to write testing code
  • Execute tests
  • Provide reporting of test results
  • Communicate key testing insights to stakeholders across the Bank

Required Education

  • Undergraduate or masters degree from an accredited college or university
  • GPA of 3.5 or higher is preferred
  • Common areas of study include but are not limited to: Engineering, Mathematics, Statistics, Physics, Finance, Economics, Computer Science, Data Science, Accounting, Audit Management and Risk Management

Required Skills

  • High level of intellectual curiosity
  • Proficiencies in leadership, teamwork, problem solving
  • Feels ownership and accountability for delivering high quality work, able to prioritize effectively, adapt, and meet strict deadlines
  • Strong written, verbal, presentation creation and delivery skills
  • Well organized, and has attention to detail
  • Microsoft Office suite

Desired Skills and Experience

  • Experience applying quantitative methods such as modelling, data analytics, machine learning, and statistics to develop business solutions
  • Programming skills (e.g., Python) and solid understanding of Software Development Life cycle principles
  • Knowledge of financial services industry and related regulations
  • Digital fluency
  • Experience implementing process improvements and automation

Shift:

1st shift (United States of America)

Hours Per Week:

40