Our Business:

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.

Overview:

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.