Bank of America provides a diverse range of banking and nonbanking financial services and products domestically and internationally in more than 35 countries through eight major Lines of Business: Global Banking and Markets, Global Commercial Banking, Business Banking, Global Corporate and Investment Banking, Preferred and Small Business Banking, US Trust, Merrill Lynch Wealth Management, and Retail Banking and Distribution. As a result, the Company inherently encounters a wide range of risks. Corporate Audit is responsible for providing an independent assessment of whether controlling processes within Bank of America are adequately designed and functioning effectively to mitigate potential risks.
Corporate Audit maintains independence and objectivity by reporting to the Audit Committee of the Board of Directors. Corporate Audit teammates cover all areas of the corporation, performing validation of the company’s risk management activities through testing of key processes and controls across the company.
Management and the Audit Committee are provided with regular reporting of Bank of America’s risk management systems and internal controls. Additionally, Corporate Audit provides risk-based advice and counsel to management to help develop and maintain an appropriate customer-focused risk management culture that supports the Corporation's business objectives.
Corporate Audit seeks applicants who have a desire to learn the multiple businesses within Bank of America. Corporate Audit maintains robust processes for reviewing risk and controls throughout the Corporation. The audit plan for the company is developed based upon the risk profile of the Company and reviewed on a quarterly basis. The audit planning process includes considerations around strategic, market, credit, liquidity, compliance and operational risk.
Auditors are charged with understanding business processes, performing risk assessments and testing to evaluate the related controls. This provides the opportunity for each auditor to closely work with and influence each business regarding their control infrastructure.
The Corporate Audit Analyst Program (CAAP) is a two-year associate development program, which moves teammates through rotational assignments within Corporate Audit. This rotational process helps teammates develop a solid knowledge base of the functional areas within Corporate Audit and the bank. Corporate Audit Analysts work closely with various businesses regarding their risk environment and control infrastructure and help build a team that is highly versatile and knowledgeable across the Company. In addition, this process provides opportunities for each and every associate to have a rewarding and successful career at Bank of America.
Bachelor’s or Master’s degree with a graduation date between December 2020 and June 2021
Grade Point Average of at least 3.0 on a 4 point scale
Strong communication skills (both written and verbal)
Demonstrated ability to adapt to change and new environments, be flexible, and open minded
Demonstrated ability to be able to be decisive and committed to accomplishing tasks
A minimum of 6 months of work experience
Must have the ability to travel up to 60% of the time
Legal authorization to work in the US now and in the future without sponsorship
Preference given to the following majors: Accounting, Finance, Information Technology, or Business Administration
Preference given to those who have a 3.2 or above GPA
Preference given to those who have work experience in the following areas: financial services, accounting, internal auditing, management, information technology
Analysts undergo a multi-phase training and development process including web based & instructor-led training, program partners from previous CAAP classes and senior level mentors. Teammates in this program will build a valuable network with other campus hires in Audit and throughout Bank of America as part of the Global Campus program
About Bank of America
By delivering capabilities through eight lines of business, we provide a unique advantage to each customer and client: the powerful expertise of one team, working together to deliver on our purpose to help make financial lives better through our focus on responsible growth.
Employees in banking, markets and finance roles work directly with individual clients across the U.S., as well as companies and institutional clients globally. This includes our Consumer & Small Business, Wealth Management and Global Banking & Markets lines of business.
Employees in our business support functions work on specialist teams to ensure the strategic, efficient and successful operations of our organization’s day-to-day business. Our administrative, finance, audit, human resources, risk and legal functions make up this team.
Employees in technology and operations help provide the infrastructure, technology platforms and information security capabilities crucial to our ability to serve our clients.