Bank of America Corporation

Risk Analysis Specialist II

Bank of America Corporation$72K — $130K *
Finance & Insurance
Less than 5 years of experience
Job Overview by Ladders

Qualifications

  • Bachelor's or Master's in computer science, system analysis, Information Systems, or related field.
  • 1-3+ years of experience with Data Sourcing, Data Wrangling, Data Engineering, or similar role.
  • Strong capabilities in process/systems analysis and documentation.
  • Exceptional analytical, critical thinking, and problem-solving skills.
  • Familiarity with Risk Management and Data Management principles.
  • Experience with Product Management and delivering cross-functional projects.
  • Proficient in project management, including creating concise project plans and advanced JIRA usage.

Responsibilities

  • Develops and executes reporting to help manage risk effectively.
  • Analyzes portfolio trends to ensure strategies align with business objectives.
  • Provides analytical support for product strategic initiatives across Risk functions.
  • Participates in creating database processes and advanced performance reports for senior management.
  • Responds to complex ad-hoc information requests from various stakeholders.
  • Supports remediation of data quality issues in cross-functional efforts.
  • Monitors control outputs and investigates alerts from the controls.

Benefits

  • Access to industry-leading benefits and paid time off.
  • Resources and support for making a genuine impact in business and communities.
  • Annual discretionary incentive program based on performance.
  • Opportunities for personal and professional growth within the organization.
  • Collaboration with diverse teams across technology and risk management.
Full Job Description

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

Global Risk Analytics (GRA) is a sub-line of business within Global Risk Management (GRM), 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 partners 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 drives innovation, process improvement and automation. 

This role will collaborate with the GRM Data Stewards, Data Users, Data Owners, and Technology Teams to understand and assess their data, processes, and technology to support strategic data initiatives, remediate deficiencies, and drive business requirements. 

  • Consult with data stewards, process owners, subject matter experts, technical experts, end users and other stakeholders to gather information about the current and target state business process, data attributes and data sources, control features, interfaces with other systems required.

  • Document and provide definitions for processes and procedures, data models, data quality controls, data lineage, and data dictionaries using industry standard methods including business process descriptions, use cases, scenarios, diagrams, flow charts, etc.

  • Analyze information gathered from multiple sources, reconcile conflicts, segment high-level information into details, and abstract up from low-level information to a general understanding.

  • Assess and identify deficiencies against internal policies and standards or industry best practices, providing formal recommendations and requirements to remediate.

  • Collaborate and partner with technology teams, architects, and other key stakeholders to drive solutions which provide ongoing operational excellence and resiliency to metadata and control environment challenges.

  • Review and provide input to technical solution designs from a business point of view and recommend alternatives.

  • Communicate plans, progress and risks appropriately to the stakeholders and sponsors.

Required Skills:

  • Bachelors or Masters in computer science, system analysis, Information Systems or related field.

  • 1-3+ years of experience with Data Sourcing, Data Wrangling, Data Engineering or similar role

  • Strong process/systems analysis, design and documentation.

  • Strong analytical, critical thinking, and problem-solving skills.

  • Ability to monitor tight deadlines and adapt to unexpected requirement changes.

  • Strong Understanding of Risk Management and Data Management Principles

  • Experience in Product Management: Ability to visualize functionality within a product, work with cross functional teams to deliver, market the product, create Road Shows/Office Hours, and onboard the users

  • Experience in Project Management

  •      - Create concise project plans

  •      - Delivery Management

  •      - JIRA advanced user

  •      - Presentation Skills

  • Business and Data Analysis Skills

  •     - Create BRDs/DRDs

  •     - SQL Skills 

  •     - Technical skills (Python etc) is a plus

  •    - Data Quality/Profiling Awareness

  •    - Data Lineage Awareness

  • Business Analytics

  •     - Tableau Experience

  •     - Any BI Tool Experience

  • Finance/Risk Domain Experience

  • Stakeholder management and Communication Skills.

Desired Skills:

  • Familiarity with one of the following areas – Trading, Consumer Banking, Wealth Management, Transaction Banking

  • Understanding or experience of programming in SQL, C/C++, Java

  • Familiarity with databases, such as Oracle, Hadoop, etc.

  • Ability to research new data technologies, architect novel data solutions for business problems and prove design approach through hands-on prototyping.

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

Hours Per Week:

40

Travel Required: 

No

Pay Transparency details

US - NJ - Jersey City - 525 Washington Blvd (NJ2525)

Pay and benefits information

Pay range

$72,000.00 - $130,700.00 annualized salary, offers to be determined based on experience, education and skill set.

Discretionary incentive eligible

This role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.

Benefits

This role is currently benefits eligible. We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.

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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