Job Description

Job Description:

Department Overview:

Enterprise Capital Risk Management is a department within Global Markets and Financial Risk (GMFR). It is responsible for providing an independent assessment of Bank of America’s Capital risk, as described within BAC’s Risk Framework. The department’s aim is to support Bank of America’s purpose in making financial lives better through responsible growth. This is accomplished by providing an independent perspective on the effective utilization of Bank of America’s Capital resources and ensuring we understand all of the risks that could impact our Capital resources. The goal of the department is that a healthy and sustainable Capital profile is maintained through a business as usual environment and also during times of stress to support the Businesses Earnings Plans 

Role Summary:  

Operating within BAC’s Risk Framework, understand and drive all components of the end-to-end Capital/Capital Risk management process/program for the Enterprise. As a Risk horizontal team, it is our role to ensure the Enterprise is provided and adheres to our Capital Management policy and any resultant standards and guidance. Key components of the Capital/Capital Risk Management program include appropriate risk identification across the 8 lines of business and legal entities, establishment of effective stress testing processes across a range of scenarios, establishment of risk monitoring processes across the 8 lines of business and legal entities; including the review and challenge of Board and Management Level Risk Appetite Limits for our Enterprise and material entities.

Key responsibilities:

Develop and demonstrate acumen for the identification of risks and mitigants (including market and economic environment and connectivity to other risk stripes)

Ensure understanding of the business processes that may increase our risk, as well as the mitigants to that risk

Assist in the establishment of all Enterprise Risk Management Program requirements (see program elements above)

Coordinate and conduct execution of risk framework activities that are the responsibility of GMFR, including but not limited to independent review and risk assessment of FLU owned processes

Conduct and ensure appropriate and adequate documentation for all independent risk reviews, including appropriate escalation and communication to Senior Management

Deliver effective review and challenge of front line owned processes that generate or impact our risk or Capital position

Draft and communicate executive and committee messaging on a regular basis in a variety of formats, including power point and MS Word

Support corporate-wide risk related initiatives

Enhance the Risk landscape, by ensuring our balance sheet and business model is appropriately stressed across a variety of scenarios, baseline to bankruptcy (resolution)

Provide subject matter expertise related to Capital risk management process and Capital stress testing to the Risk verticals teams, Corporate Treasury and other partners across the enterprise, in order to drive the execution of the stress testing framework and ensure Risks identified are reflected across all scenarios

Critical success measures:

Deliver against the book of work for Enterprise Capital/Capital Risk Management

Ensure that we are providing appropriate monitoring and analysis that allow us to support high quality risk insights

Connection to and execution of responsibilities of the independent risk function

Core Competencies:

Vision- Takes a long-term view and builds a shared vision with others; acts as a catalyst for organization change. Influences others to translate vision into action

Communication- Can articulately paint credible pictures & visions of possibilities and likelihoods

Resilience- Deals effectively with pressure; remains optimistic and persistent, even under adversity. Recovers quickly from setbacks. On occasion required to take an unpopular stand

Collaboration- Develops networks and builds alliances; collaborates across boundaries to build Capital relationships and achieve common goals. Influencing and negotiating across external stakeholders (regulators) as well as internal groups including LOB Risk teams, Corporate Treasury, GRRP, Audit & Compliance to drive execution

Interpersonal Skills- Treats others with courtesy, sensitivity, and respect. Considers and responds appropriately to the needs and feelings of different people in different situations

Leveraging Diversity- Fosters an inclusive workplace where diversity and individual differences are valued and leveraged to achieve the vision and mission of the organization. Exposure and involvement with Employee Engagement initiatives including supporting Diversity & Inclusion efforts

Developing Others- Develops the ability of others to perform and contribute to the organization by providing ongoing feedback and by providing opportunities to learn through formal and informal methods

Key Requirements:

Strong analytical skills, including both analysis of financial data and written reports

7-10 years of Markets Risk, Finance, Accounting or Risk Management experience

Proficiency with PowerPoint and Excel. Demonstrated ability to write in a clear, concise, organized, and convincing manner for the intended audience

Strong business-centric mindset with ability to utilize sound business judgment and tailor approach to drive optimal business outcomes