Operations Consultant

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OtherConsultant

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Quick Summary

Key Responsibilities

This job is responsible for the day-to-day resolution of complex problems and the research and execution of complex transactions for a single site/business unit or smaller business unit(s).

Requirements Summary

Knowledge of loan structure, loan agreements and credit regulations. Knowledge of loan accounting and reconciliations. Ability to accurately interpret credit agreements and supporting loan documents.

Technical Tools

OtherConsultant

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!

Responsibilities

~2 min read

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Advises on the design, development, and implementation of complex products, systems, and services in an operations environment using discretionary judgment
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Advises on projects and directs activities of a team related to special initiatives
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Advises as a technical expert in assigned area, providing an understanding of the business unit's operations processes and implications on other groups within the operations function
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Consults on present-state, develops alternative future-state approaches, and facilitates implementations by creating a clear and coherent approach to guide effective program/initiative setup, execution, and control
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Identifies and recommends responsibilities and accountabilities for key programs/projects

The Operations Consultant is responsible for performing and ensuring the effectiveness of quality assurance reviews for Syndicated and Corporate Lending Fulfillment teams. Responsibilities of the Operations Consultant will be to:

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Accurately interpret loan agreements and related documents.
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Verify details within the loan agreements and supporting document are accurately and completely reflected on the system of record.
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Communicate errors identified to responsible business partners and track to resolution.
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Identify and escalate any material or thematic processing issues to LOB management and stakeholders in a timely manner.
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Continuously assess quality assurance routines to identify and implement opportunities for improvement.
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Analyze QA data to monitor effectiveness of existing controls and make recommendations on necessary process, control, or system enhancements.
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Prepare and manage the publication of reporting for LOB managers and stakeholders to track errors, issues, and remediation activities.
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Assist in driving complex root cause analysis for issues or errors as required.

Requirements

~1 min read

Knowledge of loan structure, loan agreements and credit regulations.
Knowledge of loan accounting and reconciliations.
Ability to accurately interpret credit agreements and supporting loan documents.
Proficiency in the use of core Microsoft Office applications including Excel, PowerPoint, and Word.
Ability to analyze QA results to identify gaps in processes or controls.
Working knowledge of the Loan IQ application.
Ability to identify errors and track to resolution.
Ability to liaise across multiple teams, including Operations and Technology, to perform root cause analysis and assist in the design of process or system enhancements as needed.