Summer Analyst, Global Compliance & Operational Risk at Bank of America

Top Employer
Duration
Virtual Experience
Region
Lagos Rest of the World
Review Date
Salary
£30,000+
Roles
Banking and Finance Law

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Bank of America is a Top Employer

9.1/10

The Role
9.5
Organisation
8.2

Socialising

9.8

About You

Role Description

Getting famiiar with risk management, understanding regulatory interpretations, regulatory developments and implementing policies in line with the bank's Compliance and Operational Risk program

1. To what extent did you enjoy the virtual experience?

I enjoyed getting to learn more about the company's risk framework in addition to geting insights into how each team within the Compliance & Operational Risk division I interned in worked.

I also enjoyed getting more familiar with the lines of business the Bank is engaged in as well as taking advantage of the wealth of resources provided on their my learning platform. This allowed me to build up on my knowledge of compliance & operational risk.

10/10

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2. To what extent did you feel valued during your time at the company or firm?

From each call I engaged in during the program, there was always a sense of genuine desire to teach me more about the things I was curious about.

It truly felt like I was a part of the Division as I got the opportunity to shadow some members of teams within the Compliance & Operational Risk division and there were also opportunities to sit in on meetings with various teams. In addition, there was room for the interns to ask questions.

9/10

3. How much guidance/support did you receive during the virtual experience?

The Junior Talent Team provided imense support to us.
Interns were provided with buddies and mentors within the division we were assigned to
They ensured we had access to every technological equipment we needed to work effectively, they also provided us with our weekly schedules during the orientation sessions and followed up with us meticulously.

The recruiters also had reqular 1 on 1 meetigs with each of us in addition to weekly general catch ups to discuss any issues we wanted to discuss. The support provided was truly phenomenal.

9/10

4. To what extent did/will the skills you developed, and information you received, assist you in your degree studies and beyond?

I improved my communication and teamwork skills through the training sessions we participated in during the first three weeks as well as through the various cross divisional projects worked on.

During the course of the internship, I also got to network with several people within the Bank and this helped me to sharpen my communication skills as well as time management skills. These skills have impacted my professional life and I will continue to develop them.

10/10

The Organisation

5. How well structured was the virtual experience?

The program was divided into the training period and line of business desk work period.
The training period consisted of three weeks of uintense trainings as well as executive speaker sessions where we got to ask C-Suite members of the Bank questions.

The Desk work period involved working on cross divisional and team projects.

Both periods provided us with access to a wealth of learning resources and all activities were carried on timely and according to well curated schedules.

9/10

6. How was the general atmosphere during your virtual experience?

The general atmosphere was welcoming and embracing.

There was a strong genuine interest in building up the interns and promoting their complete wellness. This included physical and mental wellness. We had sessions that helped us understand more about personality types and how to communicaye ffectively.

We had access to top quality facilitators from institutions like Cornell University as well as sessions that introduced us to Data Science. These sessions were very impactful and I am grateful for the opportunity to participate in the Summer program at Bank of America.

10/10

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7. In terms of personal training and development, to what extent did the company or firm invest in you?

The Bank invested heavily in providing a rich learning program for all the interns. We had training sessions and materials from Cornell University, Alpha Development, members from the different lines of business within the bank, and partners of the bank. We also got the opportunity to have insightful sessions on thematic investing, accounting and data science.

We were also given projects to work on after the accounting and data literacy training sessions which helped us conduct further research on the concepts contained in the projects and develop a better understanding of the subjects at an elementary level.

9/10

8. To what extent did the virtual experience help you to understand what it would be like to have a full time role with the company or firm?

The internship provided me with the opportunity to explore my interests in the EU financial services regulatory system and risk management.

I discovered how Compliance officers carry on their roles, how the second line of defence protects the bank for compliance risks and I now understand better what kind of impact the Compliance & Operational Risk division has on the bank.

I am now certain that this is a career path that I want to follow.

9/10

9. How much did the virtual experience help you in understanding the company culture?

The internship helped us to become more acquainted with the company's culture which helped me to understand the core values of the company and the culture at the bank.

Through the interactions with employees at the bank, I developed a better understanding of the culture. The wealth of resources, courses and other reading materials showed me how much the bank invests in promoting the personal development of its employees.

The virtual experience also made aware of the partnerships the bank is engaged in which also reflect this same culture of embracing people, building them up and generally making profound impact.

10/10

10. How valuable was the content in helping you to decide on your future career path?

I had the opportunity to have several discussions with my assigned mentor which provided me with the platform to discuss my interests and discover how the division I interned in intersected with my interests and career goals.

These conversations fuelled the shadowing sessions I engaged in with her and expanded my understanding of who a compliance officer is, what they do and what I needed to understand to excel at it.

The resources she shared with me as well as members of other teams within the division were very valuable in helping me decide on the next steps to take in my career.

9/10

Other Information

11. Were you paid or reimbursed adequately for this experience?

We were provided with funds for internet connectivity expenditure and alternative power supply. We were also entitled to payment under the contracts we signed with the bank.

I believe the remuneration and reimbursements provided were very helpful as they ensured that we did not lack anything we needed to have a robust experience during the course of the internship. In addition, getting paid for work done made me feel like a part of the bank.

12. Were there opportunities for networking and meeting other employees of the company or firm?

During the training period, several of the sessions provided opportunities for networking as we had the privilege of asking any questions during the sessions.

There were no restrictions on how many people we could connect with and this was one of the most fantastic things about the internship. We had access to talk to senior leaders in teams within the division, to introduce ourselves, ask question and connect with them.

We were also encouraged to engage with as many employees as we desired.

10/10

13. How were the networking/ social event opportunities?

We had several executive speaker series sessions which helped us to connect with the members of the bank's executive management team.

We also got to participate in extracurricular activities with debate mate as well as the summer interns ice breaker session and charity events.

The debate mate session provided training on listening effectively and the opportunity to meet young students interested in getting insights from interns and undergraduates. This was a very impactful session and I enjoyed getting to connect with the young students.

The social events were largely wonderful activities.

9/10

14. Did you find out about activities that employees can get involved in outside of work?

The junior talent team ensured we had sessions with members of employee networks. We got to understand more about the unique communities provided within the bank for people who belong to various minority groups as well as people with certain specific interests.

The bank encourages people to explore their interests through extracurricular activities that can be carried on in groups like volunteer programs, leadership and mentoring programs among others.

I also discovered through networking other extracurricular activities employees at the bank were involved in outside of work.

10/10

15. Would you recommend this virtual experience to a friend?

Yes, I would recommend a virtual internship at the bank to a friend because it really helped me build a network with brilliant people from across the globe as well as with industry professionals that I would ordinarily not have access to.

I am also truly impressed with the culture at the bank, it is indeed a fantastic place to start out one's career and grow. These are reasons I would recommend the program to friends.

10/10

Imagine yourself working at Bank of America

RateMyPlacement is currently advertising 11 roles at Bank of America

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