Commercial Allowance Risk/Financial Analyst

Bank of America • Charlotte, NC, United States • $200k - $250k / year • 1w ago

Commercial Allowance Risk/Financial Analyst page is loaded

Commercial Allowance Risk/Financial Analyst

Apply locations Charlotte Atlanta time type Full time posted on Posted 2 Days Ago time left to apply End Date: November 1, 2024 (11 days left to apply) job requisition id 24041399

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:
This job is responsible for supporting data and technology requests, complex reporting and analysis, and modeling to manage risk and minimize credit and operating losses. Key responsibilities include reviewing and analyzing portfolio trends, supporting the development of more complex databases or queries to extract data, and supporting the production of data for internal and external reporting needs. Job expectations include working with Technology to implement changes necessary to support ongoing data needs.

Responsibilities:

Supports the development and execution of reporting to allow Risk and business partners to effectively identify and manage risk
Analyzes trends and supports the data design, portfolio trends, loss trends, and portfolio dynamics to ensure alignment with business strategies
Provides analytical support on various product strategic initiatives affecting multiple Risk functions and lines of business to ensure company goals are met
Participates in the development of database production processes and performance reports for senior management, using data mining and other advanced analytical techniques to aggregate data
Supports with responding to complex ad-hoc requests for information from both internal and external parties
Provides support on cross-functional efforts to remediate data quality issues
Monitors the outputs of controls and investigates alerts from the control checks

Skills:

Attention to Detail
Business Intelligence
Data and Trend Analysis
Risk Analytics
Risk Management
Adaptability
Collaboration
Continuous Improvement
Data Visualization
Project Management
Business Acumen
Issue Management
Regulatory Relations
Stakeholder Management
Technical Documentation

The Credit Risk Information Strategy and Allowance (CRISA) team sits within Enterprise Credit Risk and supports the allowance function for US GAAP and all Bank of America’s international legal entities. The Commercial Allowance Analyst role is a hybrid credit risk/ finance type role and the candidate will be responsible for the analysis / ownership of components of the reserve.

The role is involved in forecasting, stress testing and the communication to Senior Risk and business partners. The candidate will work with large sets of data to analyze, understand drivers and prepare summaries to management. Additional projects and analysis will focus on understanding how the changing global economic situation impacts credit risk in our portfolio. They may also lead dashboard development and explore report automation. In addition, this individual may be involved in ad-hoc management reporting around key asset quality exposures (e.g., reservable criticized metrics, peer analysis, etc.). The position will provide a well-rounded, balanced role with opportunities for interaction with other teams such as risk / finance, statistical modeling teams, and senior management.

Strong analytical, communication, presentation, and time management skills are required.

Detailed responsibilities include:

Assist the Commercial Allowance team with forecast and quarter end close processes. The individual will be working in a dynamic and challenging environment as the role has exposure to all the production cycles and processes related to the calculation and analysis of allowance results for the Commercial loan portfolio
Work with Global Risk Analytics Loss Forecast modeling teams to understand model drivers and their impacts to Allowance
Assist in completion of quarterly enterprise stress test scenarios each quarter ensuring sufficient reserves and appropriate allowance adequacy
Respond to management and business partner requests, providing necessary analytical, allowance and reporting support

Required Skills and Experience:

Bachelor's degree required, (accounting, finance, risk a plus)
4+ years of experience in a financial institution in analyst / analytics /reporting type role
Proficient working with large datasets for data analysis (i.e. SQL or SAS or more advanced excel)
Experience developing reports or dashboards leveraging Tableau, Alteryx, or Microstrategy
Attention to detail
Teamwork - Fosters collaboration among team members and business partners throughout the enterprise
Analytical Abilities / Financial Acumen (Basic understanding of accounting (debits / credits))
Strong Communicator - Clearly conveys information and ideas through a variety of channels to individuals or groups in a way that engages and impacts the audience.
Strong organization and writing skills
Self-starter, must show initiative and ability to connect dots, maintain a sense of ownership
Resourceful - Systematically acquires relevant information to support key decisions

Desired Skills and Experience: