The posting
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!
Team Overview:
Enterprise Independent Testing (EIT) is a sub-line of business within Global Risk Management (GRM). EIT is responsible for developing consistent and coherent analytical tools and tests for effective risk and capital measurement, management, and reporting across Bank of America. EIT partners with the Lines of Business and Enterprise function 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, EIT drives innovation, process improvement, and automation.
EIT is transforming the way testing is built and executed through digital transformation, automation, and cutting-edge artificial intelligence and natural language processing technologies. EIT carries a portfolio of 6,000+ tests and has a global footprint of testing professionals across the United States, Europe, Asia, and Latin America, as well as Global Business Services (GBS) associates.
Job Description:
Enterprise Independent Testing (EIT) has established itself as the enterprise utility for testing all end-to-end processes on behalf of the Second Line of Defense, Frontline Units (FLUs), and Control Functions (CFs), enabling more efficient and effective testing.
This job is responsible for leading the development, maintenance, quality assessment and sample execution of a portfolio of tests. Key job responsibilities include ensuring that our tests comprehensively cover key requirements of applicable laws, rules, regulations, policies, and procedures. Job expectations include working closely with all stakeholders, including other team members, to ensure that the testing portfolio is comprehensive; appropriately designed to meet all requirements, implemented to ensure the tests run properly, and with ongoing process assessments on accuracy and usefulness.
Embodies EIT Core Skills:
- Critical Thinking, Decisive, Leverage Enterprise/Matrix Management/ Proactive/ Project Management, Manages Risk, Adaptability, Collaborative, Customer, and Client Focus, Communicate Effectively (Written and Verbal), and Control Rigor and Discipline
- Implements and drives the data acquisition strategy for the Testing Control and Sampling Environment and/or oversees with the development and maintenance of quality tests
- Ensures the function accurately and effectively measures and monitors the delivery of quality tests and samples follow all requirements of EIT standards, policies, and procedures
- Develops and updates routines, strategies and operational guidelines for overall use by Independent Testing and our partners
- Collaborates with business stakeholders to understand test requirements and objectives and translate them into technical solutions
- Oversee test development and delivery, designing efficient and comprehensive tests, and maintain quality standards throughout the process
- Manage development pipeline and resource allocation to meet stakeholder expectations.
Responsibilities:
This position may also have responsibilities for managing associates. At Bank of America, all managers at this level demonstrate the following responsibilities, in addition to those specific to the role, listed above.
- Opportunity & Inclusion Champion: Models an inclusive environment for employees and clients, aligned to company Great Place to Work goals.
- Manager of Process & Data: Demonstrates deep process knowledge, operational excellence and innovation through a focus on simplicity, data based decision making and continuous improvement.
- Enterprise Advocate & Communicator: Communicates enterprise decisions, purpose, and results, and connects to team strategy, priorities and contributions.
- Risk Manager: Ensures proper risk discipline, controls and culture are in place to identify, escalate and debate issues.
- People Manager & Coach: Provides inspection, coaching and feedback to motivate, differentiate and improve performance.
- Financial Steward: Actively manages expenses and budgets in alignment with objectives, making sound financial decisions.
- Enterprise Talent Leader: Assesses talent and builds bench strength for roles across the organization.
- Driver of Business Outcomes: Delivers results by effectively prioritizing, inspecting and appropriately delegating team work.
- Models an inclusive environment for employees and clients, aligned to company Great Place to Work goals
- Demonstrates deep process knowledge, operational excellence and innovation through a focus on simplicity, data based decision making and continuous improvement
- Provides inspection, coaching and feedback to motivate, differentiate and improve performance
- Delivers results by effectively prioritizing, inspecting and appropriately delegating team work
- Communicates enterprise decisions, purpose, and results, and connects to team strategy, priorities and contributions
Requirements & Work Experience:
- Bachelor’s degrees or above in fields including but not limited to: Finance, Economics, Mathematics, Computer Science, Statistics, Process and Mechanical Engineering, Operations Research, Data Science, Accounting, Business Administration (or equivalent work experience).
- At least 7 years of relevant experience in risk management, compliance, controls, audit, independent testing, or a related financial services discipline.
- The candidate must be a strong communicator and able to effectively explain the rationale and details of the methodologies to a broad set of audiences that include key senior stakeholders across the Bank, as well as auditors and regulators
- Strong analytical and problem-solving skills
- Candidates should have experience with implementing process improvements and automation.
Desired Skills:
- Demonstrated strategic thinking and initiative, with the ability to synthesize complex information, connect interdependencies, anticipate downstream impacts, and translate insights into action.
- Experience in Compliance and Operational Risk, with the ability to understand underlying risks and design effective testing of business processes and controls to assess whether risks are appropriately mitigated within established risk tolerance levels
- Experience in Consumer, Products, Business Banking, Commercial banking, Marketing, or Global Payment Solutions (FLOD, SLOD, or Audit)
- Strong PowerPoint and Excel skills, with demonstrated experience developing polished presentations and translating data and complex information into clear, executive-ready materials.
- Working knowledge of coding concepts and languages such as SQL and Python, with the ability to understand and apply coding principles in support of testing and data analysis.
Skills:
- Process Design: Ability to understand how work is executed within an organization, evaluate efficiencies, and identify areas for overall process improvement and growth
- Test Development: Ability to design and document tests used to measure the effectiveness of the Bank’s processes and controls, as well as adherence to applicable laws, rules, regulations, and internal policies and procedures
- Test Reporting: Ability to produce testing results, reporting, and data-driven insights for the test inventory
- Test Development Life Cycle: Understands the end-to-end test development life cycle, from test request to development, execution, and dissemination of results. Collaborates with cross-functional teams to meet testing objectives
- Risk and Control Assessment: Ability to understand risk and control relationships, evaluate control design, and develop testing approaches that determine whether controls and processes are operating as intended
- Business Acumen and Domain Knowledge: Strong understanding of Consumer Banking products, services, processes, risks, controls, and the related regulatory environment
- Problem Solving: Approaches challenges creatively and effectively, even under constraints
- TrendsGrowth Mindset: Continuously develops knowledge of Consumer Banking, risk management, testing methodologies, regulatory expectations, and industry practices
- Adaptability
- Attention to Detail
- Collaboration
- Monitoring, Surveillance, and Testing
- Influence
- Interpret Relevant Laws, Rules, and Regulations
- Issue Management
- Reporting
- Strategic Thinking
- Stakeholder Management
- Complex Initiative Leadership
- Consumer Banking Risk Management
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
$95,000.00 - $153,000.00 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.
