1 day old

MLWM Business Risk Control Analyst

Bank of America
New York, NY
  • Job Code
Company Bank of America

Job Title MLWM Business Risk Control Analyst

Jobid bankofamerica-17053342NewYorkNY

Location: New York, NY, 10176, USA

Description **Job Description:**

_Merrill Lynch Wealth Management is a leading provider of comprehensive wealth management and investment products and services for individuals and businesses. With 10,869 Financial Advisors and $1.9 trillion in client balances as of December 31, 2015, Merrill Lynch is among the largest businesses of its kind in the world._

_Merrill Lynch Wealth Management specializes in goals-based wealth management, including planning for retirement, education, legacy, and other life goals through investment advice and guidance. Merrill Lynch’s financial advisors help clients pursue the life they envision through a one-on-one relationship with a financial advisor committed to their needs — an advisor with access to the investment insights of Merrill Lynch and the banking convenience of Bank of America._


Manages diverse administrative functions usually for a very large, complex department or business unit. Functions managed may include: financial control/budgeting and consolidation, personnel processes, audit/compliance, premises, and coordination of certain projects, associate training, service quality, process improvement, business continuity, or communication. May consult with senior management to define and manage projects that encompass and impact many associates. Requires a thorough knowledge of the department or business unit's functional area or products. Working knowledge of general bank policies, programs and procedures and financial/accounting practices. May have full management responsibility over a team or may manage one level of managers.

Key Responsibilities

+ The Business Risk Control Analyst will work closely in support of the MLWM COO Risk Executive

+ Responsibilities include knowledge of operational risk policies, procedures and standards, and are capable of performing analyses with little or no direction

+ In conjunction with the Executive, this role will need to identify risks to which the firm is exposed, implements measures to prevent, eliminate or mitigate losses, and monitors outcomes / risk levels for various business lines

+ Additional responsibility includes limiting exposures due to risks such as those resulting from human error, unsupervised trading, and transaction processing failure, monitoring weaknesses, threats to information systems, data integrity and fraudulent activities

+ This person will undertake assessments of business unit exposures, identifying risks, evaluating their potential impact and reviewing the strengths and weaknesses of the organization's existing controls

+ Work with other risk functions to develop and implement controls that mitigate operational risks. Once the controls are in place, continue to monitor control compliance and the prevalent risk environment to ensure that exposures are kept at acceptable levels

+ Audit/ Operational Risk Specialization: Responsible for having a strong understanding of the processes and controls of various business areas and assessing the risks associated with these various processes. Staff undertake relevant audit testing to determine the effectiveness of the control environment and provide recommendations to improve processes and controls where necessary


+ 3-5 years of relevant risk related experience in Wealth Management industry a must

+ Experience managing others and partnering closely critical lines of business

+ Assist in development of routines to proactively engage critical partners (Audit, Risk, Legal, Compliance) and monitor risk issues and trends

+ Work with senior leaders to ensure accountability and action plans are in place to mitigate risk

+ Support the Operational Risk Executive to create execution plans, with LOB heads and key partners, for timely issue resolution and closure

+ Work with senior leaders and key partners to ensure risks issues, once closed, remain closed through robust management of execution plans and mitigations; Influence across MLWM leadership with the Operational Risk Executive, in promoting a risk culture focused on identify-escalate-debate, with proactive management and mitigation of risk issues

+ Keep the MLWM COO and MLWM Leadership Team informed of key risk issues, actions, and mitigations

+ Build relationship that fosters ongoing and proactive communication with Audit, Legal, Risk, and Compliance partners who support MLWM

+ Participate in QA/QC/ RCSA process

+ Work closely with Operational Risk Executive to prepare updates for Fed and OCC for MLWM COO

**Posting Date** : 07/31/2017

**Location** :


New York, NY, 250 VESEY ST (NY3004),

- United States

**Travel** : Yes, 10% of the time

**Full / Part-time** : Full time

**Hours Per Week** : 40

**Shift** : 1st shift

**Assistance for Applicants with Disabilities**

Bank of America is committed to ensuring that our online application process provides an equal employment opportunity to all job seekers, including individuals with disabilities. If you believe you need a reasonable accommodation in order to search for a job opening or to submit an application, please visit the Applicants with Disabilities page at http://careers.bankofamerica.com/us/applicants-with-disabilities .

**Diversity & Inclusion**

At Bank of America, our commitment to diversity and inclusion is helping us to create not only a great place to work, but also an environment where our employees, our customers and our communities around the world can reach their goals and connect with each other. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status.

**Frequently Asked Questions**

Need to know how to apply online, view a list of your submitted job applications or reset your password? Visit our FAQ at http://careers.bankofamerica.com/us/faq section for answers to these questions and more.

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MLWM Business Risk Control Analyst

Bank of America
New York, NY

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Bank of America
New York, NY

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