|
 |
|
||||||||||||
|
|
|||||||||||||
|
|
|
|
| |
Risk Management. Explore a career with the Bank of Opportunity.
|
|
| |
Risk ManagementVideo transcript
>>Allen Price, GMRM Global Credit: My name is Allen Price. Return to standard page with video Guided Job Search
The goal of Global Risk is to manage all types of risk to achieve predictable, consistent and sustainable earnings growth. Our model for managing risk is holistic, covering credit, market and operational risks on an enterprise-wide scale. Our challenge is to ensure we provide the optimum balance of risk and reward to help grow the business.
Frequently Asked Questions
What is the importance of Risk/Compliance at Bank of America?
At Bank of America we have an expression about risk, and it's really simple; it's two words: Risk Matters. It matters in everything we do. Whether its processing credit card payments, whether its processing checks, whether its dealing with business continuity events, operational risks. Everything we do at Bank of America has a risk element to it, so the Global Risk organization is absolutely crucial to how we make money, how we save money, how we continue growth. It's absolutely critical to our shareholders, to our associates and to our customers.
What are the Lines of Business that make up Global Risk Management?
The business organizations that make up global risk management at Bank of America are first, Compliance and Operational Risk. We deal primarily in that group with the regulatory and operational risk associated with running an operation. The second is legal, fairly self explanatory. That's where all the lawyers live and breathe. Enterprise Credit Risk, which is responsible for aggregating all the credit risks across the entire franchise, and looking at it from a portfolio basis. Corporate Security, those are primarily the investigators who will investigate suspicious activity that occurs at the bank, as well as making sure that all of our sites, wherever they are in the world, are secure. Audit, which serves primarily a testing function and a control function in that they make sure that the controls are in place across the franchise. And then there are three groups that serve the principal lines of business of Bank of America. The first one supports Global Wealth and Investment Management, the second one supports Global Corporate and Investment Banking, and the third, which is our largest line of business, is the Global Consumer and Small Business Banking group.
What is the relationship/value add that Global Risk Management has with our Lines of Business/clients?
The value that Global Risk Management brings to the table at Bank of America, is that we say 'yes' and we say 'no'. Examples of where we would say 'yes' is finding a way to make sure that we can service our customers and clients. For example, extending a credit card, extending a loan, opening a checking account. Making sure that we can serve our customers appropriately. On the other side, we may say no, where the risk is too great, given the reward. If the credit risk is too high, given the return for our investment, it's our responsibility as Risk Managers at Bank of America, to say no. So we help businesses that we're engaged in to say yes when its appropriate, and to say no and to balance that risk and reward trade-off.
New Opportunities |
|
