Lending Governance Executive

Job Description:

Merrill Wealth Management is a leading provider of comprehensive wealth management and investment products and services for individuals, companies, and institutions. Merrill Wealth Management is one of the largest businesses of its kind in the world specializing in goals-based wealth management, including planning for retirement, education, legacy, and other life goals through investment advice and guidance.

Merrill’s Financial Advisors and Wealth Management Client Associates help clients pursue the life they envision through a personal relationship with their advisory team committed to their needs. We believe trust comes from transparency. Our trusted advisory teams are equipped with access to the investment insights of Merrill coupled with the banking convenience of Bank of America.

Merrill 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 Merrill, we empower you to bring your whole self to work. We value the unique perspectives in our thoughts, business, and within our employees and clients. Our Wealth Management team represents an array of different skills and experiences that individuals bring from all backgrounds and careers; whether gained through 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.

Internal employees who are currently working from home are still eligible to apply. However, if selected for the role, you may be required to work onsite in accordance with the workplace excellence policy.

Job Description:
This job is responsible for partnering with lines of business to design an effective risk and control environment and ensure adherence to enterprise-wide standards. Key responsibilities include establishing and overseeing the governance structure including managing meeting routines, process inventory administration, policy and procedures and exception management. Job expectations include working directly with enterprise and line of business partners or leadership to implement solutions that resolve critical business challenges.

The Lending Governance Executive is responsible for oversight and execution of governance, risk, and control frameworks for the Merrill Lending Solutions Group. The Lending Governance Executive will ensure alignment with enterprise risk standards, regulatory requirements, and Broker-Dealer supervisory expectations, partnering closely with senior management to build, implement and monitor the operational risk framework for the Lending Solutions Group organization. Job expectations include operating across multiple lines of business (Consumer Lending Mortgage, Enterprise Credit, Lending Fulfillment/Operations, Merrill Banking Solutions) and partnering with GCOR, Compliance, and enterprise shared services to ensure controls are consistently designed, implemented, and operating effectively.

Responsibilities:

• Partners with other businesses to design an effective risk control environment

• Oversees issue management activities end-to-end, including development of action plans for identified issues

• Engages with regulators, participates in meetings with senior leaders and acts as subject matter expert

• Fosters a best in class operating and risk management culture and acts as trusted resource

• Utilizes deep understanding of investment products within asset and wealth management to showcase executive presence and ability to lead meetings with executives

• Uses strong communication skills both verbal and written to delivery clearly to wide audience from clients to executives

• Execute lending risk reviews, control health assessments, issue remediation, and executive reporting as well as perform governance oversight to support adherence to business strategy.

• Implement and monitor operational risk frameworks, including processes, controls, and metrics, to ensure effective risk management across the Merrill Lending Solutions Group.

• Assess control design and operating effectiveness; identify control gaps, defects, and emerging risks, and drive timely escalation and sustainable remediation.

• Ensure process is documented accurately and operating as intended with appropriate controls and metrics as the process owner.

• Ensure compliance with consumer lending laws, regulatory guidance (including OCC), and FINRA requirements through partnership with Compliance, Legal, Supervision, GCOR, and other control functions.

• Represent Merrill in enterprise and cross‑LOB governance forums to drive consistent application of governance and controls.

• Prepare and deliver executive‑level materials that clearly communicate governance strategy, risk posture, and issue status

Managerial Responsibilities:
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: Breaks down barriers to create a more inclusive environment that supports company Great Place to Work goals.
• Manager of Process & Data: Challenges end-to-end process efficiency and effectiveness, champion data driven decision-making and removes obstacles to optimize operations.
• Enterprise Advocate & Communicator: Contributes to enterprise strategy and influence messaging to connect team contributions to business purpose, results, and success.
• Risk Manager: Inspects and challenges risk controls, governance and culture to ensure the timely identification, escalation, debate and remediation of risk across the organization.
• People Manager & Coach: Coaches to sustain and elevates organizational performance while differentiating to ensure pay for performance.
• Financial Steward: Efficiently allocates and manages resources across the organization to drive short and long term profitability.
• Enterprise Talent Leader: Inspects and manages the health of the bench to ensure succession for the organization, while supporting enterprise talent needs.
• Driver of Business Outcomes: Mobilizes organizational resources to deliver the full range of the bank’s capabilities to meet client needs and to gain competitive advantage.

Required Qualifications:

• Minimum 8 years of experience in operational risk, business governance, controls, or related disciplines within financial services.

• Lending subject matter expertise.

• Advanced knowledge of consumer lending laws, rules, and regulations, with experience applying regulatory requirements to consumer or wealth management lending products and processes.

• Strong risk and control expertise, including control design, operating effectiveness assessment, issue identification, and audit/exam remediation.

• Proven ability to influence across multiple lines of business and partner effectively with control functions and senior stakeholders in a matrixed environment.

• Strong analytical, decision‑making, and problem‑solving skills, with the ability to think strategically while executing with attention to detail.

• Excellent written, verbal, and executive presentation skills, including the ability to develop and deliver clear, concise materials for senior audiences.

• Demonstrated ability to work independently and manage complex, large‑scale work efforts with strong organizational and stakeholder management skills.

Desired Qualifications:

• Familiarity with Lending products, risks & controls and related laws, rules and reg background Wealth Management experience a plus.

• Expertise with Bank of America audit processes as well as regulatory exams.

• Previous experience working with enterprise control partners.

• Experience interacting with regulators.

• Bachelor's degree or equivalent preferred.

Skills:

• Corporate Governance Management
• Data Governance
• Issue Management
• Regulatory Compliance
• Regulatory Relations
• Analytical Thinking
• Oral Communications
• Policies, Procedures, and Guidelines
• Risk Management
• Strategy Planning and Development
• Governance & Business Controls
• Policy and Procedure Development
• Privacy, Records, Vendor, and Product Governance
• Stakeholder & Executive Engagement
• Process Design & Improvement
• Project & Program Execution
• Business Analysis
• Clear, Influential Communication

Shift:

1st shift (United States of America)

Hours Per Week:

40

Pay Transparency details

US - IL - Chicago - 110 N Wacker Dr - Bank Of America Tower Chicago (IL4110), US - MA - Boston - 100 Federal St - 100 Federal St Lp (MA5100), US - NJ - Pennington - 1600 American Blvd - Hopewell Bldg 6 (NJ2600), US - NY - New York - 225 LIBERTY ST (NY3002), US - NY - New York - ONE BRYANT PARK - BANK OF AMERICA TOWER (NY1100)

Pay and benefits information

Pay range

$200,000.00 - $275,000.00 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.