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.
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Job Description:
The Testing Manager IC is a highly skilled subject matter expert in test script design and test execution for Compliance and Operational Risk. The Testing Manager IC, in collaboration with Testing Shared Services and Risk and Compliance officers, ensures accountability for the completion of testing activities in alignment with the Independent Testing- Enterprise Policy & Standard in a timely manner.
The Testing Manager IC consults with compliance officers and operational risk to execute an effective testing program per requirements. This role contributes to the identification of themes and trends at the front line unit, control function and enterprise level.
The Testing Manager IC proactively manages the relationship with external consultants, front line unit (FLU) /Control Function (CF) Compliance and Operational Risk groups. This role participates in routines involving FLU/CF Compliance and regulatory agencies.
Key responsibilities:
The Testing Manager IC is accountable for test execution for the Independent Testing Function.
The Testing Manager IC is a highly tenured subject matter expert with strong subject matter expertise of test execution and system(s) of record required and is able to translates business strategy into work programs and processes.
The Testing Manager IC is accountable for quality testing execution, reporting and analysis of results. This role may lead, contribute and participate in multiple special projects as an experienced subject matter expert of a processes and/or projects.
Managerial 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.
- Diversity & Inclusion Champion: Models an inclusive environment for employees and clients, aligned to company D&I 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.
Skills:
- Adaptability
- Attention to Detail
- Collaboration
- Monitoring, Surveillance, and Testing
- Problem Solving
- Data Privacy and Protection
- Influence
- Interpret Relevant Laws, Rules, and Regulations
- Issue Management
- Reporting
- Quality Assurance
- Underwriting
Job Description:
Enterprise Independent Testing (EIT) Onsite Global Banking and Global Markets (GB&GM) Testing Team is part of the GB&GM test execution organization that provide risk management covering the broker dealer supervision regulatory requirement. EIT has established itself as the enterprise utility to test all end-to-end processes on behalf of Second Line of Defense, Frontline Units (FLUs) and Control Functions (CFs), enabling more efficient and effective testing. EIT is transforming the way testing is built and executed with digital transformation, implementing automation and leveraging cutting edge Artificial Intelligence/Natural Language Processing technologies. EIT carries a portfolio of 8,000+ 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.
EIT Onsite GB&GM Testing Team works closely with Global Risk and Operational Compliance (GCOR) in developing and executing an onsite branch inspection program that is an integral part of the firm's risk management. Independent branch testing evaluates the effectiveness of the firm's supervisory policies and procedures.
Role Overview:
The role of a Testing Manager IC is unique and requires certain skills/talents to perform the role effectively, and in many aspects, independently. The Testing Manager IC must possess knowledge regarding FINRA, MSRB, NFA rules, and have excellent interpersonal, written, and verbal communication skills.
The Testing Manager IC is expected to:
- Accurately perform supervisory testing of GB & GM branch offices related to sales, trading, research, investment banking, commercial banking, and operations.
- Provide oversight functions to internal client ensuring the remediation and adherence to the firm's supervisory functions.
- Partner with internal clients to assess new laws, rules, regulations and develop effective testing to examine the firm's policies and procedures adherence.
- Coordinate with Testing Portfolio Manager to establish the scope of each exam; may travel to branch offices to conduct onsite inspections; analyze supervisory controls to determine compliance with established standards and regulatory requirements.
- Responsible for reviewing and documenting testing artifacts with integrity to ensure branch/desk supervisor functions meet the firm and regulatory requirements.
- Provide comprehensive written reports relating to the examinations; and track identified issues.
- Ensure identified issue's action plans are adequately monitored and resolved to testing program and firm's standards.
- Identify opportunities to enhance the testing program as well as functional processes.
- Conduct ad hoc reviews and manage projects as identified or assigned.
- Domestic Travel 10%
Required Education & Experience:
- Bachelor's degrees or above; or equivalent experience in fields including but not limited to: Finance, Economics, Mathematics, Computer Science, Statistics, Process and Mechanical Engineering, Operations Research, Data Science, Accounting, Business Administration.
- Minimum 5 years of institutional brokerage, compliance, or supervisory experience.
Required Skills:
Accountability/Ownership
- Comprehensive knowledge of financial regulations and firm's policies and procedures,
- Understanding of appropriate supervision of GB & GM businesses.
- Feels ownership and accountability for delivering high quality work, able to prioritize effectively, adapt, and meet strict deadlines.
- Ability to recommend and implement process control improvements.
Intellectual Curiosity
- Critical thinking and analysis to solve complex problems.
- Demonstrates understanding of and passion for the "why".
- Looks around the corner, explores uncharted territories with an "outside-in" perspective.
- Life-long learner who not only assertively educates self but encourages others to learn and grow.
Executive Interaction & Communication
- Business writing acumen, verbal, presentation creation and delivery skills.
- Communications are timely, concise, easy to follow and tailored to topic, audience, and competing priorities.
- Exercises excellent judgment, discerning appropriate moments to challenge or insert point of view.
- Ability to influence and challenge assumptions.
- Asks the next level of questions, applies context to determine direction.
Risk Manager Mindset
- Understand a broad view of the business being inspected to discover potential supervision defects.
Executive Interaction
- Regularly engage with domestic and international branch/desk supervisors, senior leaders (Band 2-4), business support/controls and GCOR partners.
Desired Skills:
- FINRA licenses (e.g. SIE, S7, S24 etc.)
- Understanding of international regulatory requirements, multilingual, Global Operations' functions and procedures, project and relationship management
Technical Skills:
- Proficient in Microsoft PowerPoint and Excel
Shift:
1st shift (United States of America)
Hours Per Week:
40