Finance Manager - Allowance for Loan Lease Losses

Finance Manager - Allowance for Loan Lease Losses

Charlotte, North Carolina

Job Description:

Job Description Summary

The Credit Risk Information Strategy and Allowance (CRISA) team sits within Enterprise Credit Risk and supports the allowance function for US GAAP and all Bank of Americas legal entities.

The Allowance Manager role is responsible for end-to-end execution of allowance processes for Small Business and Consumer Vehicle Lending (CVL). The candidate will work closely with the Credit Risk Executive and will be responsible for setting the quarter-end Allowance for Small Business and CVL. The candidate will be responsible for review and analysis of the allowance for loan losses and related forecasting and stress testing as well as communication of results to key Risk and business partners. The candidate will work with large sets of data to analyze, understand drivers of allowance, prepare executive presentations, and communicate the allowance story to Head of the Allowance function. The candidate will lead dashboard development and explore report automation. Additional projects and analysis may focus on specific end-to-end loss forecasting and allowance related processes or functions including earnings preparation and 10Q/10K reviews. In addition, this individual may be involved in ad-hoc management reporting around key asset quality exposures (e.g. nonperforming loan metrics, peer analysis, etc.). The position will provide a well-rounded, balanced role with opportunities for interaction with other risk / finance teams, statistical modeling teams, senior management, auditors and regulators. Strong analytical, communication, presentation, and time management skills are required.

Detailed responsibilities include:

Own end-to-end allowance related processes and analytics for Small Business and CVL

Responsible for setting the quarter-end allowance for Small Business and CVL, including providing analysis and support for the imprecision process

Responsible for forecasting allowance for baseline forecast cycles

Partner with EST on quarterly enterprise stress test scenarios each quarter ensuring sufficient reserves are estimated under different stress scenarios

Work with Global Risk Analytics Loss Forecast modeling teams to understand model drivers and their impacts to Allowance

Respond to management and business partner requests, providing necessary analytical, allowance and reporting support

Support the quarterly earnings process by preparing analysis and story to support the allowance estimate.

Own all the allowance schedules in the 10Q/10K

Developing executive presentations and articulating the allowance story to multiple stakeholders including Line of Business, Risk, and other business partners

Work with Internal Audit and Model Risk Management on allowance related exams and reviews

Required:

• Bachelor's Degree

• 5+ years in a financial institution

• Strong attention to detail in all aspects of work

• Ability to learn new tools (SQL, Tableau, Alteryx, Microstrategy)

• Analytical Abilities / Financial Acumen - Systematic application of a combination of inductive and deductive reasoning to examine information, interpret results and arrive at well-founded logical conclusions

• Strong communicator Clearly conveys information and ideas through a variety of channels to individuals or groups in a way that engages and impacts the audience

• Ability to work on a variety of projects

• Ability to anticipate follow up questions and challenges from stakeholders

• Self-starter, must show initiative and ability to connect dots, maintain a sense of ownership

• Strong organization and writing skills

• Teamwork - Fosters collaboration among team members and business partners throughout the enterprise

• Resourceful Systematically acquires relevant information to support key decisions

Job Band:

H4

Shift:

1st shift (United States of America)

Hours Per Week:

40

Weekly Schedule:

Referral Bonus Amount:

0

Job Description:

Job Description Summary

The Credit Risk Information Strategy and Allowance (CRISA) team sits within Enterprise Credit Risk and supports the allowance function for US GAAP and all Bank of Americas legal entities.

The Allowance Manager role is responsible for end-to-end execution of allowance processes for Small Business and Consumer Vehicle Lending (CVL). The candidate will work closely with the Credit Risk Executive and will be responsible for setting the quarter-end Allowance for Small Business and CVL. The candidate will be responsible for review and analysis of the allowance for loan losses and related forecasting and stress testing as well as communication of results to key Risk and business partners. The candidate will work with large sets of data to analyze, understand drivers of allowance, prepare executive presentations, and communicate the allowance story to Head of the Allowance function. The candidate will lead dashboard development and explore report automation. Additional projects and analysis may focus on specific end-to-end loss forecasting and allowance related processes or functions including earnings preparation and 10Q/10K reviews. In addition, this individual may be involved in ad-hoc management reporting around key asset quality exposures (e.g. nonperforming loan metrics, peer analysis, etc.). The position will provide a well-rounded, balanced role with opportunities for interaction with other risk / finance teams, statistical modeling teams, senior management, auditors and regulators. Strong analytical, communication, presentation, and time management skills are required.

Detailed responsibilities include:

Own end-to-end allowance related processes and analytics for Small Business and CVL

Responsible for setting the quarter-end allowance for Small Business and CVL, including providing analysis and support for the imprecision process

Responsible for forecasting allowance for baseline forecast cycles

Partner with EST on quarterly enterprise stress test scenarios each quarter ensuring sufficient reserves are estimated under different stress scenarios

Work with Global Risk Analytics Loss Forecast modeling teams to understand model drivers and their impacts to Allowance

Respond to management and business partner requests, providing necessary analytical, allowance and reporting support

Support the quarterly earnings process by preparing analysis and story to support the allowance estimate.

Own all the allowance schedules in the 10Q/10K

Developing executive presentations and articulating the allowance story to multiple stakeholders including Line of Business, Risk, and other business partners

Work with Internal Audit and Model Risk Management on allowance related exams and reviews

Required:

• Bachelor's Degree

• 5+ years in a financial institution

• Strong attention to detail in all aspects of work

• Ability to learn new tools (SQL, Tableau, Alteryx, Microstrategy)

• Analytical Abilities / Financial Acumen - Systematic application of a combination of inductive and deductive reasoning to examine information, interpret results and arrive at well-founded logical conclusions

• Strong communicator Clearly conveys information and ideas through a variety of channels to individuals or groups in a way that engages and impacts the audience

• Ability to work on a variety of projects

• Ability to anticipate follow up questions and challenges from stakeholders

• Self-starter, must show initiative and ability to connect dots, maintain a sense of ownership

• Strong organization and writing skills

• Teamwork - Fosters collaboration among team members and business partners throughout the enterprise

• Resourceful Systematically acquires relevant information to support key decisions

Shift:

1st shift (United States of America)

Hours Per Week:

40

Learn more about this role

Full time

JR-22063600

Band: H4

Manages People: No

Travel: No

Manager:

Talent Acquisition Contact:

Pamela Salvato

Referral Bonus:

0

Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity and affirmative action, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other bases such as medical condition, marital status or any other factor that is irrelevant to the performance of our teammates.

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