Sr. Business Control Specialist - Client Claims & Risk Support

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. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day. Being a Great Place to Work and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates’ physical, emotional, and financial wellness through affordable, competitive and flexible benefits. We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve. Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs. At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

Job Description:

The Client Claims & Risk Support role supports the Consumer Investments Platform by executing and coordinating work across the team’s four primary functions: pre‑litigation client claims, claim request reviews, litigation and subpoena liaison support. The role focuses on accurate assessment, disciplined tracking, and effective partner coordination to mitigate legal, regulatory, and financial risk while supporting a consistent, high‑quality client experience.

This position serves as an operational and analytical liaison between business partners, Legal, and Supervision. Within defined guidelines and authority, the role supports pre‑litigation decisioning, facilitates information flow for litigation and subpoena matters, and contributes to reporting and trend analysis. The role is designed for an employee looking to increase their responsibility with independent execution, issue identification, and well‑documented recommendations.

This job is responsible for driving and executing on internal control discipline and operational excellence within a Line of Business (LOB) or Enterprise Control Function (ECF). Key responsibilities include providing analytical and administrative support for LOB or ECF specific processes and tools to drive adherence to enterprise-wide standards. Job expectations include monitoring and testing controls and implementing quality assurance and quality control processes within the LOB or ECF by evaluating data to help identify, track, and report issues and control improvements for remediation.

Responsibilities:

• Review and assess escalated client claims and pre‑litigation matters to determine defensible resolution strategies, including settlement recommendations where appropriate.
• Apply established decision criteria, regulatory requirements, and historical precedent to ensure fair, consistent, and auditable outcomes.
• Partner with internal teams to proactively resolve issues, reducing escalation, litigation risk, and client dissatisfaction.
• Serve as the primary point of contact for assigned matters, coordinating timely information exchange with Legal and business partners.
• Prepare concise summaries of facts, risks, and recommendation rationale to support informed Legal and leadership decision‑making.
• Own end‑to‑end tracking, documentation, and accuracy of credit losses, including coordination with Finance for reconciliations and reporting.
• Maintain accurate, up‑to‑date records and reporting for all matters, including trends in claims, settlements, legal matters, and credit losses.
• Identify root causes, process gaps, and control weaknesses; contribute to process enhancements and refinement of decision criteria.
• Serve as a Legal Liaison for all litigation and subpoena matters.
• Oversees the design and effectiveness of the risk and control environment to support Client Operational Services and ensure adherence to enterprise-wide standards
• Supports the monitoring and testing of controls by evaluating data to identify issues and control improvements for remediation
• Implements optimized controls and enhanced Quality Assurance (QA) practices to support business continuity efforts
• Conducts and coordinates quality inspection reviews to enhance employee performance and control effectiveness
• Performs QA activities including executing on controls, managing cases, and reporting results
• Executes initiatives by identifying areas of potential testing automation, procedural updates, thematic trends, test script updates, and coaching opportunities to enhance QA program success
• Supports the overall management of and research required for regulatory exams, internal audits, and other monitoring and inspection reviews and evaluates data and information relevant to inspection metrics to support governance activities for dashboard reporting

Required Qualifications:

• Two plus years of Financial Services experience

Desired Qualifications:

• Series 7
• Self-starter capable of taking strategic direction and executing upon that strategy with limited direction
• Ability to shift priorities on a daily basis with short notice

Skills:

• Strong process and analytic/problem solving skills
• Detail oriented team member that can exceed efficiency goals while ensuring accurate and complete resolutions
• Ability to quickly understand and comprehend complex scenarios while   working in a fast-paced environment
• Advanced user of MS Excel with the ability to analyze large amounts of data
• Understanding of Merrill Edge clients and business
• Proficient user of MS PowerPoint and Word
• Strong communication and presentation skills
• Strong organization skills, including the ability to manage multiple responsibilities, prioritize and meet deadlines
• Risk, Controls and Issues Management
• Monitoring, Surveillance, and Testing
• Quality Assurance
• Critical and Analytical Thinking
• Attention to Detail
• Problem Solving
• Decision Making
• Positive attitude

Managerial Responsibilities (not for this specific role):
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.

• Opportunity & Inclusion Champion: Creates an inclusive team where members are treated fairly and respectfully.
• Manager of Process & Data: Demonstrates and expects process knowledge, data driven decisions, simplicity and continuous improvement.
• Enterprise Advocate & Communicator: Delivers clear and concise messages that motivate, convey the “why” and connects contributions to business results.
• Risk Manager: Leads and encourages the identification, escalation and resolution of potential risks.
• People Manager & Coach: Knows and develops team members through coaching and feedback.
• Financial Steward: Manages expenses and demonstrates an owner’s mindset.
• Enterprise Talent Leader: Recruits, on-boards and develops talent, and supports talent mobility for career growth.
• Driver of Business Outcomes: Delivers results through effective team management, structure, and routines.

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Pay Transparency details

US - MD - Hunt Valley - 11333 MCCORMICK RD - HUNT VALLEY (MD5031), US - NJ - Pennington - 1500 American Blvd - Hopewell Bldg 5 (NJ2150), US - RI - Lincoln - 670 George Washington Hwy (RI1541)

Pay and benefits information

Pay range

$71,500.00 - $107,700.00 annualized salary, offers to be determined based on experience, education and skill set.

Discretionary incentive eligible

This role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.

Benefits

This role is currently benefits eligible. We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.