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Risk Management Executive I

November 14, 2024

Industry: Private

Employment Type:- Full Time

Work Hours:- 8 Hours

Locations:- USA

Full 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:

The Risk Management Executive I is responsible for providing risk oversight, advice, and counsel to the LOB. Establish risk management policies, limits, standards, controls, metrics, and thresholds within the defined corporate standards. Ability to recognize all risk categories including credit, market, operational and compliance and bringing appropriate risk expertise as needed. Accountable for conducting execution of risk framework activities including, but not limited to, independent monitoring and testing of controls and risk management processes for the LOB. Establish and oversee the risk management governance structure for the LOB. May direct risk staff in establishing risk management procedures and standards, developing risk management analyses and reports, developing approval procedures and guidelines on risk limits by type of product and/or transaction, and in establishing management and administrative procedures to ensure adherence to policies.

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Responsibilities:

Lead Enterprise Issue Portfolio Analyses (Ad-hoc and periodic) across the Enterprise Portfolio to identify common trends, risks, and process improvement opportunities.
Act as subject matter advisor to senior management across the Company within the remit of EIM.
Report and escalate to senior management, including to relevant governance committee(s) on pattern(s) and trend(s) related to the Enterprise Issue Portfolio.
Partner with colleagues across the Company to develop a deep understanding of issues, root causes, and events that may lead to Company-wide issues.
Maintain and develop process level procedures and guidelines to ensure appropriate governance over Enterprise Issue Analyses.

Managerial Responsibilities:

This position may also have responsibilities for managing associates. At Bank of America, all managers at this level demonstrate the following responsibilities, in addition to those specific to the role, listed above.

Diversity & Inclusion Champion: Breaks down barriers to create a more inclusive environment that supports company D&I goals.
Manager of Process & Data: Challenges end-to-end process efficiency and effectiveness, champion data driven decision-making and removes obstacles to optimize operations.
Enterprise Advocate & Communicator: Contributes to enterprise strategy and influence messaging to connect team contributions to business purpose, results, and success.
Risk Manager: Inspects and challenges risk controls, governance and culture to ensure the timely identification, escalation, debate and remediation of risk across the organization.
People Manager & Coach: Coaches to sustain and elevates organizational performance while differentiating to ensure pay for performance.
Financial Steward: Efficiently allocates and manages resources across the organization to drive short- and long-term profitability.
Enterprise Talent Leader: Inspects and manages the health of the bench to ensure succession for the organization, while supporting enterprise talent needs.
Driver of Business Outcomes: Mobilizes organizational resources to deliver the full range of the bank’s capabilities to meet client needs and to gain competitive advantage.
Regulatory Compliance

Required Experience:

10+ years of experience in financial services industry, with an extensive understanding of Financial Services products and services
Demonstrated executive presence, with the ability to engage and communicate at the executive level, establish, and maintain collaborative partnerships and provide thought leadership to strategic decisions.
Critical thinker with the ability to influence senior leaders across GRM and partners, including to challenge the status quo, produce appropriate changes and implement goals.
Capable of managing portfolios of high-quality deliverables according to strict timetables, and proven ability to perform comprehensive business analysis to address risk and business inquiries, ensuring end-to-end governance of solution delivery.
Significant business knowledge of risk management and regulatory interactions.
Strong analytical skills, with a proven ability to interpret data and drive desired outcomes
Excellent written and verbal communication skills.
Strong horizontal leadership skills across peers as well as vertical leadership in a matrixed environment; an individual who can lead a diverse associate population, inspire a strong sense of camaraderie and accountability, and motivate continuous improvements to performance.
Able to attract, retain and develop top talent, strong coach.
Effectively packages and communicates complex content and information.
Can effectively navigate and deliver results in highly matrixed environment within Global Risk and beyond.

Desired Experience:

Risk Management or Corporate Audit experience

Desired Skills:

Critical Thinking
Decision Making
Executive Presence
Talent Development
Issue Management
Liquidity Management
Oral Communications
Performance Management
Written Communications
Analytical Thinking
Change Management
Fiscal Responsibility
Presentation Skills

Risk Management Executive I

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Common Interview Questions And Answers

1. HOW DO YOU PLAN YOUR DAY?

This is what this question poses: When do you focus and start working seriously? What are the hours you work optimally? Are you a night owl? A morning bird? Remote teams can be made up of people working on different shifts and around the world, so you won't necessarily be stuck in the 9-5 schedule if it's not for you...

2. HOW DO YOU USE THE DIFFERENT COMMUNICATION TOOLS IN DIFFERENT SITUATIONS?

When you're working on a remote team, there's no way to chat in the hallway between meetings or catch up on the latest project during an office carpool. Therefore, virtual communication will be absolutely essential to get your work done...

3. WHAT IS "WORKING REMOTE" REALLY FOR YOU?

Many people want to work remotely because of the flexibility it allows. You can work anywhere and at any time of the day...

4. WHAT DO YOU NEED IN YOUR PHYSICAL WORKSPACE TO SUCCEED IN YOUR WORK?

With this question, companies are looking to see what equipment they may need to provide you with and to verify how aware you are of what remote working could mean for you physically and logistically...

5. HOW DO YOU PROCESS INFORMATION?

Several years ago, I was working in a team to plan a big event. My supervisor made us all work as a team before the big day. One of our activities has been to find out how each of us processes information...

6. HOW DO YOU MANAGE THE CALENDAR AND THE PROGRAM? WHICH APPLICATIONS / SYSTEM DO YOU USE?

Or you may receive even more specific questions, such as: What's on your calendar? Do you plan blocks of time to do certain types of work? Do you have an open calendar that everyone can see?...

7. HOW DO YOU ORGANIZE FILES, LINKS, AND TABS ON YOUR COMPUTER?

Just like your schedule, how you track files and other information is very important. After all, everything is digital!...

8. HOW TO PRIORITIZE WORK?

The day I watched Marie Forleo's film separating the important from the urgent, my life changed. Not all remote jobs start fast, but most of them are...

9. HOW DO YOU PREPARE FOR A MEETING AND PREPARE A MEETING? WHAT DO YOU SEE HAPPENING DURING THE MEETING?

Just as communication is essential when working remotely, so is organization. Because you won't have those opportunities in the elevator or a casual conversation in the lunchroom, you should take advantage of the little time you have in a video or phone conference...

10. HOW DO YOU USE TECHNOLOGY ON A DAILY BASIS, IN YOUR WORK AND FOR YOUR PLEASURE?

This is a great question because it shows your comfort level with technology, which is very important for a remote worker because you will be working with technology over time...

DISCLAIMER

Full Job Description:-

Other Jobs You May Be Interested In

Risk Management Executive I

Common Interview Questions And Answers

1. HOW DO YOU PLAN YOUR DAY?

2. HOW DO YOU USE THE DIFFERENT COMMUNICATION TOOLS IN DIFFERENT SITUATIONS?

3. WHAT IS "WORKING REMOTE" REALLY FOR YOU?

4. WHAT DO YOU NEED IN YOUR PHYSICAL WORKSPACE TO SUCCEED IN YOUR WORK?

5. HOW DO YOU PROCESS INFORMATION?

6. HOW DO YOU MANAGE THE CALENDAR AND THE PROGRAM? WHICH APPLICATIONS / SYSTEM DO YOU USE?

7. HOW DO YOU ORGANIZE FILES, LINKS, AND TABS ON YOUR COMPUTER?

8. HOW TO PRIORITIZE WORK?

9. HOW DO YOU PREPARE FOR A MEETING AND PREPARE A MEETING? WHAT DO YOU SEE HAPPENING DURING THE MEETING?

10. HOW DO YOU USE TECHNOLOGY ON A DAILY BASIS, IN YOUR WORK AND FOR YOUR PLEASURE?