Bank Of America Management Style Analysis

Culture and Management Style: The way Bank of America present its own culture will influence the performance results of the management team implementation of the organization control system, management style is probably the most important and will have the biggest impact on the management control system depending on how the management team is perceived in the entire organization, from the CEO down to the lower layer of supervisors. Informal Organization: Management needs to recognize the importance of communication, relationships and responsibilities at all levels of the organization, every layer of management is of importance to one another. Sources of communication are also of importance and can affect the performance of controls systems …show more content…
The comptroller is the person responsible for designing and operating the management control system, preparing financial statements and analyzing reports, supervising internal audits and accounting control procedures to ensure validity of information, controlling the integrity of the accounting system and safeguarding of company assets from theft and fraud, also playing an important role on strategic and budget …show more content…
The key enhancements include increasing the focus on risk culture and ensuring consistency with regulatory guidelines, which is fundamental to the organization core values and operating procedures, requirements are to focus on risk in all activities and encouraging the necessary mindset and behavior to be able effective risk management and promoting sound risk taking within the limits already set. Bank of America Risk Framework is the heart of comprehensive risk management, it clearly detail responsibilities and accountability for managing risk. The Risk Framework sets roles and responsibility for the management of risk by front line units, independent risk management, control functions and Corporate Audits, risk Management Governance, and provide a blueprint on how the Board, through delegation of authority to executive officials and