GCB Business Control Manager

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. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day. Being a Great Place to Work and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates’ physical, emotional, and financial wellness through affordable, competitive and flexible benefits. We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve. Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs. At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

Business Overview

Global Commercial Banking (“GCB”) provides treasury, lending, leasing, advisory, and debt and equity underwriting services to middle market companies with revenues of $50 million to $2 billion across all major industries. GCB brings clients the full capabilities of the Company paired with local service. GCB financial solutions include credit, treasury services, international banking, wealth management, risk management and investment banking capabilities.

LOB Workplace Strategy currently consist of in office location with up to 5 “flex” days per month to work remotely. If in an office, 4/1 expectation as well. Subject to change with GCB leadership guidance.

This is a Private-side role requiring compliance with associated AIM requirements.

Office location flexible to: Atlanta, Charlotte, Dallas, Houston, Jacksonville, Los Angeles, Miami, New York City and San Francisco

Job description

The Global Commercial Banking (“GCB”) Business Controls team equips GCB with the tools and resources needed to identify, escalate, debate and mitigate operational and compliance risk. The team provides primary support for Global Commercial Banking, however, may support efforts spanning other Global Banking businesses as well. This role is focused on supporting operational risk management and business controls, providing oversight and monitoring of GCB compliance with regulation, policy, and procedures. The successful candidate must have or develop a deep understanding of GCB and its global business, as well as a deep understanding of the risk programs supported by the team. The candidate should also have a broad understanding of the enterprise and financial services industry. The ability to collaborate with Business Controls peers, Line of Business and Product subject matter experts and Control Partners (including Compliance / Operational Risk / Audit / Regulatory Relations) will be critical to success.

The position resides on the GCB Business Controls team, housed within the GCB National Operations and Business Integration function, supporting multiple aspects of risk management work. Candidate must be able to thrive in a fast-paced and professional environment with the following responsibilities :

Responsibilities:

Lead, manage and govern multiple risk and control programs, in partnership with GCB leaders and Business Controls teammates, to effectively manage operational risk and ensure GCB compliance with regulation, policy, and procedures:

Regulatory Change & Adoption – Lead the Business Controls regulatory change and adoption framework for GCB.

o Regulatory Change Management and Implementation – Lead or

coordinate assessment, engagement, implementation and

adoption activities associated with significant regulatory

changes impacting Global Commercial Banking, including

material international regulatory changes and cross-LOB

regulatory changes impacting GCB. Current areas of focus

include implementation activity associated with the EU Capital

Requirements Directive (CRD6) and U.S. Regulation K regarding

International Banking Operations. Drive sustainable adoption

through establishment of appropriate ongoing operating

routines, processes and controls. Provide credible challenge and

strategic guidance to GCB stakeholders on regulatory

applicability, implementation approach, control requirements,

execution risks and ongoing sustainability.

o Regulatory Change Process – Lead and govern the GCB

regulatory change management process, partnering with Global

Compliance and Operational Risk to understand regulatory

changes and associated enterprise policies impacting GCB,

identify appropriate GCB leads and participants, monitor

mitigation and implementation activities and dependencies, and

identify and escalate material risks or gaps as appropriate.

o Regulatory Inquiry Process – Lead and coordinate the GCB

regulatory inquiry process, partnering with Regulatory Relations,

Global Compliance and Operational Risk, and other stakeholders

to understand regulatory inquiries and drive appropriate

engagement, governance and timely responses.

o Inspections – Lead or support GCB engagement in audits,

regulatory examinations and inspections related to regulatory

change practices and activities.

o Reporting and Governance – Drive accurate and timely GCB

reporting and governance related to regulatory change and select

change implementations, including implementation status and

material risks, issues and dependencies.

o Partnerships – Represent GCB in select enterprise efforts

focused on regulatory change interpretation, application,

implementation and governance. Participate in relevant forums

and activities, partnering with Enterprise Risk, Global Compliance

and Operational Risk, Regulatory Relations, Global Banking peers

and other stakeholders as appropriate.

o Risk Identification and Controls – Serve as the GCB lead for

regulatory change-related processes and controls and participate

in GCB’s quarterly Risk Identification process and inventory

refresh.

o Policy & Procedures – Lead select Enterprise Policy reviews, and

own, author and anchor select GCB procedures, largely driven by

Enterprise policy and/or regulatory requirement. Serve as a GCB

subject matter expert, providing guidance, driving adherence and

monitoring business performance for associated programs

including procedures impacting GCB.

Additional Responsibilities

• •Maintain program summary documents and evidence of process control routines for the risk program(s) supported.
• •Analyze, monitor, interpret, and report data and information related to risk and control programs and leverage it to identify and drive resolution of potential issues or inefficiencies.
• •Liaise with Business Controls management and teammates, business process owners, and Control and Support Partners (e.g. Global Compliance and Operational Risk, Global Strategy and Enterprise Platforms, Operations, etc.)
• •Support select audit and inspection activity within the business.
• •Support operational risk mitigation efforts via Issue or MRA remediation.
• •Support other management routines as required related to Line of Business’ internal control disciplines.
• •Act as an ambassador of the risk culture.

Required Skills:

Bachelor’s degree or equivalent, with 5 years of experience with preference for operational risk or compliance program experience, knowledge of regulatory and public policy space sp