Corporate Audit Summer Analyst (Nov 2024)

About Bank of America

Bank of America, among the world's largest financial institutions, serves a diverse clientele with a full range of banking, investment, and risk management services. With approximately 56 million U.S. consumer and small business relationships, the company is a global leader in wealth management and corporate banking. Its broad offerings and extensive reach position Bank of America as a significant player in the global financial landscape.

To know more, watch this video:

Your role

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.

What you’ll do (Key Responsibilities):

As a summer analyst, your key tasks and responsibilities may include but are not limited to:

• Maintaining robust processes for reviewing risk and controls throughout the Corporation.
• Assisting with the audit planning process including considerations around strategic, market, credit, liquidity, compliance and operational risk.
• Assisting with the audit plan for the company, developed upon the risk profile of the Company and reviewed on a quarterly basis.
• Understanding business processes, performing risk assessments and testing to evaluate the related controls.
• Working closely with, and influencing each business regarding their control infrastructure

Training, development & rotations

The Summer program is a 10-week program designed to provide Summer Analysts with a unique opportunity to gain exposure to life at Bank of America and also make significant contributions to the team. The Summer Program begins with an orientation and induction to the firm. Summer Analysts are given a true associate experience, as assignments mirror full-time responsibility and include goal-setting and a formal review process.

Benefits

Bank of America is committed to supporting Summer Analysts and providing them with the following benefits:

• Access to the bank’s learning hub containing a variety of learning resources, ranging from banking fundamentals to communication skills
• Structured and on-the-job training
• Networking and social opportunities
• Speaker series with senior management across all lines of business
• Corporate Social Responsibility project/learning
• Involvement in Diversity and Inclusion training/events

Career progression

At the end of the program, you can be considered for full-time employment upon graduation. They promote personalized skill development with access to diverse education options, allowing individuals to align with organizational culture and values while fulfilling objectives. Opportunities for growth at Bank of America are facilitated through leadership models, mentor programs, and inclusive support, empowering individuals to make informed career decisions and succeed at various levels.

Work-life balance

Bank of America prioritizes work-life balance by fostering personal connections among employees through clubs, networks, and various activities, contributing to a strong and inclusive workplace. The support for arts and cultural organizations grants employees premium access to museums and cultural events globally, promoting community engagement. Additionally, initiatives like Get Active! inspire employees to pursue a healthier lifestyle through team-based physical activity challenges, reinforcing a culture that values well-being and camaraderie.

Company culture

They are driven by a shared commitment to improving financial lives through meaningful connections. They emphasise responsible growth, prioritizing its global workforce's well-being through diversity, inclusivity, and competitive benefits supporting physical, emotional, and financial health. They foster a collaborative environment, providing career opportunities for individuals seeking personal and professional growth.

About you

What Bank of America is looking for:

• Penultimate year Undergraduate student with outstanding academic achievement
• Major in Accounting, Finance or Business
• Effective verbal and written communication
• Strong team player and client-focused
• Demonstrate energy and drive
• Fluency in English is essential
• Desire to learn about the multiple businesses within Bank of America

Source

The following sources were used in researching this page:

• careers.bankofamerica.com/en-us/benefits/career-growth
• careers.bankofamerica.com/en-us/benefits/part-of-the-package
• about.bankofamerica.com/en/working-here/employee-benefits
• careers.bankofamerica.com/en-us/culture/shared-interests