Bank of America Corporation

Risk Analysis Specialist II

Bank of America Corporation$80K — $95K *
Finance & Insurance
Less than 5 years of experience
Job Overview by Ladders

Qualifications

  • Bachelor's degree in accounting, finance, or risk-related field required
  • Several years of experience in an analyst or analytics role within a financial institution
  • Strong attention to detail
  • Proven ability to work collaboratively in teams across the enterprise
  • Solid analytical abilities with basic understanding of accounting principles
  • Excellent communication and writing skills
  • Self-starter with initiative and ownership mindset

Responsibilities

  • Supports reporting development for effective risk management by business partners
  • Analyzes portfolio trends and data design to align with business strategies
  • Provides analytical support for strategic initiatives affecting Risk functions
  • Participates in building database processes and senior management performance reports
  • Handles complex ad-hoc requests for information from internal and external stakeholders
  • Supports cross-functional efforts to improve data quality
  • Monitors controls outputs and investigates alerts from control checks
  • Aids in forecast and quarter-end close processes for the Commercial Allowance team

Benefits

  • Hybrid work model allows for flexibility
  • Opportunities for interaction with senior management and cross-functional teams
  • Exposure to complex data and risk management processes
  • Engagement in strategic initiatives affecting multiple lines of business
  • Dynamic environment that encourages professional growth and skill development
  • Involvement with advanced analytical tools and methodologies
Full Job Description
Job Description:

Position Summary:
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. 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 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 Allowance Analyst role is responsible for the review and analysis of the allowance for loan losses and related forecasting and stress testing as well as the communication to key Risk and business partners. The candidate will use quantitative tools and 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.

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
  • 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)
  • Several years of experience in a financial institution in analyst / analytics type role
  • 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:
  • Allowance / Credit Risk / Commercial banking
  • Familiarity with models
  • Audit or controls background
  • Proficient using SQL or SAS, on large datasets for data analysis
  • Experience with or desire to learn AI tools, Tableau and/or MicroStrategy, and Alteryx
  • General Ledger experience

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


Shift:
1st shift (United States of America)

Hours Per Week:
40

About Bank of America Corporation

Bank of America Merrill Lynch is the corporate and investment banking division of Bank of America. It provides services in mergers and acquisitions, equity and debt capital markets, lending, trading, risk management, research, and liquidity and payments management. It was formed through the combination of the corporate and investment banking activities of Bank of America and Merrill Lynch following the acquisition of the latter by the former in January 2009. Bank of America completed the acquisition of Merrill Lynch & Co on 1 January 2009. Bank of America began rebranding all of its corporate and investment banking activities under the Bank of America Merrill Lynch name in September 2009. In April 2010, Bank of America Merrill Lynch appointed Christian Meissner as head of investment banking for Europe, Middle East and Africa. In April 2011, Bank of America Merrill Lynch integrated its corporate and investment banking operations into a single division. In October 2013, Bank of America Merrill Lynch was recognised as the Most Innovative Investment Bank of the Year in The Banker's Investment Banking Awards.

Bank of America Corporation Careers

Join the dynamic team at Bank of America Corporation, a premier global financial institution where innovation, leadership, and growth go hand in hand. As one of the largest banks in the world, we offer unparalleled job opportunities and a culture that values diversity, inclusion, and professional growth. Work You’ll Do At Bank of America Corporation, you’ll be part of a team that’s dedicated to making a real difference. Whether you’re helping families buy their first home, advising businesses on expansion, or developing cutting-edge financial technologies, your work will have an impact. Our commitment to leadership in the financial industry has never been stronger, and we need passionate, skilled professionals to lead our journey. Explore a World of Opportunities From entry-level positions to leadership roles, Bank of America Corporation offers a variety of career paths in areas such as investment banking, technology, marketing, and risk management. Our job opportunities span the globe, providing the chance to work alongside the best in the industry and develop skills that will propel your career forward. Internship Programs Kickstart your career with Bank of America Corporation’s internship programs. These opportunities provide hands-on experience and a chance to engage in meaningful work that complements your academic studies. Interns gain invaluable networking opportunities, receive mentorship from seasoned professionals, and learn about the culture and operations of a global financial leader. Benefits and Growth Bank of America Corporation is committed to the well-being and continuous professional development of our team members. We offer a competitive benefits package that supports the health, financial stability, and work-life balance of our employees. Our training programs and development initiatives ensure that every team member has the opportunity to grow and advance within the company. Inclusive Culture We believe our strength lies in our diversity. Bank of America Corporation fosters an inclusive environment where all employees can thrive. Through diversity training and a commitment to equal opportunities, we cultivate leadership and innovation that reflect the wide-ranging communities we serve. Join Our Team Are you ready to advance your career at a company that’s at the forefront of the financial industry? Explore the positions available at Bank of America Corporation and find where your skills and interests align with our needs. We are continuously hiring and looking for individuals who are curious, creative, and eager to drive change. Stay Connected Keep up to date with the latest from Bank of America Corporation Careers by subscribing to our job alert emails. Tailor your subscription to receive updates that match your career interests and get insider tips that can help you during your application and interview process. Bank of America Corporation is not just a company—it’s a place where you can shape your future and the future of finance. Join us and be part of a team that’s redefining what a bank can be.
Learn more about Bank of America Corporation
Size
208,000 employees
Market Cap
$260.3 billion
Industry
Net Income
$17.8 billion
Founded
1998
5 Year Trend
-1.4%
NASDAQ

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