CONSUMER & SMALL BUSINESS: Regulatory Business Control Specialist
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. We’re devoted to being a diverse and inclusive workplace for everyone. Join us!
The Business Control Specialist is part of the Regulatory Business Controls team within the Home Lending and Fulfillment Shared Services organization. This position will be responsible for providing regulatory support and internal control discipline related to Home Loans Sales including exams, internal audits, assessments, issues, and metric oversight and reporting. This role influences across multiple levels of management and provides direction to the front line units. Incumbents typically have over 5+ years of risk management and/or FLU/ECF experience.
Responsibilities:
- Monitor and influence the control environment to drive adherence to regulatory requirements and enterprise standards
- Provide regulatory direction and SME support to Home Loans Sales, including assessments, impact analysis, and implementation of regulation and policy changes
- Actively engage in process change initiatives to ensure solutions result in compliant outcomes with meaningful, sustainable controls
- Analyze compliance testing, monitoring reports, and other testing results to identify primary root cause of errors and escalate for remediation
- Interface with Global Compliance and Operational Risk (GCOR) and Legal partners to provide the business point of view on regulatory topics
- Identify issues and/or control improvements for remediation
- Perform assessments of compliance against regulatory requirements and enterprise policies
- Coordinate with partners and stakeholders to ensure end-to-end process engagement
- Provide audit and exam support
- Acts as an ambassador of the risk culture
Required Qualifications:
- Minimum of 5 years of relevant work experience with a working knowledge of lending regulations, as well as lending processes
- Ability to read and understand complex matters, anticipate risks, and summarize key information
- High attention to detail and strong organizational skills with the ability to prioritize requests and workload accordingly
- Influence horizontally and vertically across the organization and diverse audiences
- Strong written and verbal communication skills
- Self-starter with excellent anticipation skills, problem-solving; follow-up
- Demonstrated dependability and ability to act with a sense of urgency
- Ability to interact with people at all levels of the organization
- Ability to work well under pressure, adapt to unexpected events, prioritize and multi-task in a deadline-driven environment
- Ability to work in a fast-paced and complex environment
- Ability to deal with sensitive data and maintain confidentiality
- Ability to identify risks and ways to mitigate those risks
- Exhibits strong relationship management and interpersonal skills
Desired Qualifications:
- 8+ years of risk management or business control experience
- Lending regulation expertise, specifically related to consumer lending regulations
- Process Improvement and six-sigma and/or data analysis experience
- Capable of performing complex analyses and formulating solutions independently
- Experience with root cause analysis
Pay Transparency details:
Pay range: $69,000.00 - $103,900.00 annualized salary, offers to be determined based on experience, education, and skill set. This role is eligible to participate in the annual discretionary plan.
Benefits:
We provide industry-leading benefits, access to paid time off, resources, and support to our employees.
#J-18808-Ljbffr
