In January, when the new Bank of America Corp. president and CEO Brian Moynihan announced his top-management team, it included Bruce Thompson as chief risk officer. Formerly head of global capital markets, Thompson was the third executive to hold the CRO title in a seven-month period, an indication of how deep the bank’s problems ran and of how Moynihan was going about changing course.

On July 16, the $2.3 trillion-in-assets banking giant will announce second-quarter results, hoping to build on the momentum of its $3.2 billion earned in the first quarter. That was half its net income for all of 2009, the post-crisis transitional year under departed CEO Kenneth Lewis. Exposed to the sputtering economy, the company is still wrestling with credit losses, but its loan-loss provisions declined in the first quarter, and a continued, strong bottom line should reflect well on the tone at the top of the organization, and particularly the new look in risk management. ....

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