Bank of America Sr. Business Control Specialist-Regulatory Support Specialist in Plano, Texas

Sr. Business Control Specialist-Regulatory Support Specialist


Line of business description:

Position will be a member of the Regulatory Business Controls team supporting the Consumer Lending businesses, including First Mortgages, Home Equity, Merrill Lynch Home Loans, Custom Mortgage and Consumer Vehicle Lending

Position will be responsible for providing regulatory support in one or all of the following areas for their assigned State or Federal Regulation:

- Provide Regulatory direction and SME support to Consumer Lending, including impact analysis and implementation of Enterprise Compliance policies and Assessments.

- Interface with Compliance and Legal to provide the business point of view on regulatory topics.

- Actively engage in process change initiatives to ensure solutions result in compliant outcomes with meaningful controls

-Maintain action plans for new rules and standards in Enterprise database and initiate change projects not driven by Regulatory Programs.

-Analyze compliance testing, monitoring reports, and other testing results to identify primary root cause of errors and escalate for remediation.

-Provide Regulatory SME support to resolve audit issues that result in compliance violations.

-Provide compliance question support and system overrides related to compliance rules for front line First Mortgage employees.

Enterprise description:

Provide analytical support in executing internal control discipline and operational excellence within a LOB/ECF. Gather and organize data in order to monitor and test the effectiveness of key controls and status of mitigation and action plans. Prepare documentation for the tracking, monitoring, and escalation of risk related issues to management. Acts as an ambassador of the risk culture. Incumbents typically have over 5 years of risk management and/or LOB/ECF experience. May manage staff.


Required Skills:

  • 2-5 years Regulatory or compliance experience within mortgage originations

  • Ability to identify risks and related mitigation efforts

  • Critical thinking/analytical skills

  • Demonstrated ability to multi-task in a matrixed reporting environment

  • Strong analysis and fact-based decision making

  • Proven ability to communicate complex information in simple terms (oral and written)

  • Strong organization skills with the ability to prioritize requests and workload accordingly

  • Influence horizontally and vertically across the organization and diverse audiences

  • Exhibit strong relationship management and interpersonal skills

Desired Skills:

  • The successful candidate will be able to manage multiple risk related activities in close coordination with other Business Control

Monitoring and Readiness teams.

  • College Degree - B.A or B.S. preferable

  • Capable of performing complex analyses and formulating solutions independently

  • Substantial experience with assessments and root cause analysis

  • Ability to work collaboratively

  • Demonstrated experience with risk management and project planning with a particular focus on the ability to properly scope a problem /

gap, as well as set goals and objectives

  • Ability to work effectively with business owners, Legal, Risk and Compliance

  • Demonstrable experience with communicating effectively

  • Process management experience

Job: KU-Business Control

Primary Location: US-TX-Plano

Work Locations: TX2972 6400 LEGACY DR Plano 75024


Travel: Yes, 10 % of the Time

Job Posting Date: Oct 21, 2016

Unposting Date: Nov 13, 2016

Full/Part-time: Fulltime

Hours Per Week: 40.00

Shift: 1st Shift

Req ID: 16046224