Biography
Carol Hoke-Milligan is a global business leader who strategically integrates people, process, and technology to create data-driven transformations and increase business effectiveness. With more than 30 years of experience, Carol expertly leads the design and implementation of sustainable solutions that address process improvement, regulatory risk, and data management. She is an authentic communicator and dedicated mentor with a passion for supporting the professional development of others, especially women in business.
As a Credit and Data Transformation Executive at Bank of America (BofA), Carol leads business and credit modernization for Global Banking, setting data strategy and overseeing a budget of nearly $150M. Continuously working to simplify processes through the implementation of new technologies, enhanced automation, and AI, she is driving a streamlined, elevated wholesale credit digital experience for clients and internal users. She also participates in the strategic direction of the overall organization as a member of the company’s Operating Committee.
An advocate for diversity, Carol is committed to building inclusive work environments and developing dynamic teams that foster future leaders. She currently directs a global team of 350 professionals, which nearly doubled in size amid the recruitment and retention challenges of the COVID-19 pandemic. She is the executive sponsor of the credit business’ Diversity and Inclusion Council and is focused on establishing recruiting and talent pipeline solutions that recognize all populations.
Carol previously served as a BofA Risk Management Executive implementing large regulatory change programs and creating credit risk information and data strategies. She also held several leadership positions in various BofA business units including Global Banking and Markets, Enterprise Credit, and Commercial and Risk Management Technology. Collaborating with C-level leadership, Carol delivered innovative solutions that replaced antiquated systems, enabled regulatory compliance, reduced expenses, and raised awareness of the significance of sound data governance and business solutions. She additionally provided oversight and guidance as a valued member of the company’s Risk and Enterprise Data Governance Councils and Committees.
Earlier in her career at BofA, Carol served as an HR Executive for Global Corporate Investment Banking, during which time she managed compensation strategy, leadership development programs, and organizational effectiveness metrics. With HR support of 1,500 associates, she laid the foundation for her expertise in process improvement and relationship-building.
Carol’s drive to empower and uplift others has not only influenced her career, but also led her to serve as a mentor for several non-profit organizations including Girls Who Code, UNC Charlotte Data Science Program, and the Cherie Blair Foundation for Women. She is also a former JDRF board member.
Carol holds a BA in psychology from the University of North Carolina at Charlotte. She has two children and lives in Mooresville, North Carolina, with her husband. She enjoys yoga and outdoor activities, especially spending time on the water.