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

  • 5-7 years of relevant experience in financial services or similar domain
  • Strong technical understanding of data and technology
  • Familiarity with data regulations and compliance in financial services
  • Proven ability to drive program execution and manage cross-functional teams
  • Excellent communication and stakeholder management skills
  • Solid background in risk management and analytics
  • Demonstrated leadership capability within a complex organizational structure

Responsibilities

  • Supports development and execution of risk management reporting
  • Analyzes portfolio and loss trends to align with business strategies
  • Provides analytical support for strategic initiatives across Risk functions
  • Develops database production processes and management reports
  • Responds to complex ad-hoc information requests from internal and external stakeholders
  • Monitors data quality controls and investigates alert notifications
  • Trains and oversees data management procedures within the organization

Benefits

  • Access to industry-leading benefits
  • Paid time off options
  • Resources and support for employee development and engagement
  • Opportunities to contribute to community growth and sustainable business practices
  • Participation in annual discretionary incentive plans
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

Job Description:
This role reports to the GRM Data Governance Head and is provided a broad platform to build partnerships with GRM, enterprise, business and technology leadership, a vantage point to explore end-to-end processes, data ecosystems and technologies, and an ability to influence data strategies that drive the greatest value across the lines of business.

  • Broad responsibilities to support the DSM function’s day-to-day operations, including progress tracking of DSM initiatives, annual initiative, resourcing, and funding planning on behalf of DSME.
  • Oversee and assist in managing GRM’s data commitments to internal and external parties, monitor progress and escalate execution risks – including regulatory and audit commitments.
  • Provide support to prepare and present GRM data strategy vision on behalf of DSME to GRM CRO, senior leadership team, FLU/CF and enterprise senior stakeholders.
  • Identify opportunities for data process optimization across GRM and promulgate leading practices across GRM and enterprise.
  • Overseeing maintenance of GRM-wide data management procedures
  • Ensuring GRM data-related initiatives are aligned to the DSM strategy
  • Develop and implement a robust stakeholder engagement strategy and communication plan 
  • Establish and execute against a DSM Employee Engagement action plan
  • Establish and maintain the GRM DSM Operational Excellence/SIM portfolio, ensuring alignment to the DSM strategy

Requirements:

  • Technical Expertise: Demonstrates understanding of data and technology.
  • Understanding of the data regulations, compliance and risk environment in financial services.
  • Execution Expertise: Ability to drive program execution through disciplined oversight with right assignment of accountabilities.
  • Successful delivery in a cross functional team environment in financial services - business, technology, compliance and risk.
  • Leadership capability: A successful candidate will also need to navigate effectively across different levels of the enterprise and external stakeholders.
  • Able to coordinate and prioritize data strategy as well as shape detailed solutions with quants, technologists and business teammates.
  • Able to adjust communication styles to explain complex issues in appropriate terms and perspectives to a broad audience.
  • Strong influencing and partnership skills, including with senior FLU and Risk leaders.
  • Develop strategic solutions broadly across Risk, prioritizing and influencing for needs.
  • Excellent writing and presentation skills.
  • At least 3-5 years of relevant experience with the ability to work in a large, complex organization, and influence various stakeholders and partners, preferably within the financial industry.

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

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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