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. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day.
One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We’re devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.
Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.
Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us!
Job Description:
Responsible for building, consolidating and reporting stress testing results for EST management. Performs complex analysis related to earnings, balance sheet, capital and liquidity as well as associated risk exposures. Provides analytical support for explaining business/forecast strategies in the context of baseline and stress forecasts. Reviews and analyzes trends in stress results to best understand implications both internal and externally. Understands complex interactions between economic and operational factors and their resulting impact to product, business line and financial results & position of the company. Challenges assumptions and results and is comfortable communicating and influencing business partners based on these results. Can quickly build credibility with partners. Duties primarily include the regular use of discretion and independent judgment. Requires strong analytical, , influencing and communication skills. Comfortable with a dynamic, fluid work environment with tight deadlines. Experience with risk management, finance and/or accounting preferred.
Specific LOB/segment/coverage area of this role:
This role is on the Global Recovery & Resolution Planning team (“GRRP”) team within the Global Strategy and Enterprise Platforms (GSEP) team. GRRP coordinates the Company’s recovery and resolution planning processes globally by collaborating with business, finance, and treasury to monitor the Company’s RRP capabilities and act as a review and challenge function for regulatory submissions.
The Stress Testing Consultant will help support key aspects of the end-to-end GRRP process across recovery and resolution plan submissions, regulatory inquiries, rule federation, and legal entity rationalization. This will include leading presentations, coordinating timelines and deliverables, and conveying the team's expectations of FLUs / CFs in GRRP's processes. The ideal candidate must be able to handle multiple priorities and meet urgent deadlines as necessary. This is a unique opportunity to join an enterprise-wide function, gain exposure to businesses and financial drivers across the company’s products and businesses, and work with leaders across the organization.
The role is an excellent opportunity to learn about all of the Bank’s businesses, risks and overall resilience. Recovery and Resolution Planning is a critical bank function and will provide the right candidate with invaluable experience for future roles across a number of areas in the Company.
Additional responsibilities for this role include:
• Support GRRP team efforts to coordinate complex regulatory deliverables, including plan documents, data templates, meeting materials, and responses to regulatory requests
• Partner with Front Line Units and Control Functions to prepare content for regulatory submissions
• Support preparation of materials for senior management and Board-level committees
• Support with drafting executive summaries for recovery and resolution submissions
• Support with all aspects of governance and reporting routines
• Identify improvements for team processes and controls, including Operational Excellence
Skills:
- Controls Management
- Internal Audit Review
- Issue Management
- Monitoring, Surveillance, and Testing
- Regulatory Relations
- Benchmarking
- Data and Trend Analysis
- Interpret Relevant Laws, Rules, and Regulations
- Regulatory Compliance
- Risk Management
- Data Governance
- Data Modeling
- Financial Analysis
- Financial Forecasting and Modeling
- Policies, Procedures, and Guidelines
Required Skills:
• Bachelor’s degree
• 3-5 years of work experience in banking, finance or economic research
• Strong organization and planning ability with meticulous attention to detail
• Independent thinker who is proactive and takes initiative to overcome obstacles
• Excellent interpersonal, written communication and presentation skills
• Ability to effectively work under pressure and successfully manage multiple projects
• Strong organization and planning ability
Desired Skills:
• Prior corporate finance, stress testing or economic forecasting/research experience
• MBA/CFA a plus
• Strong MS Excel and PowerPoint skills
Shift:
1st shift (United States of America)
Hours Per Week:
40
