Enterprise Independent Testing (EIT) Compliance and Operational Risk Manager

Description

This job is responsible for executing second line of defense compliance and operational risk oversight for a Front Line Unit, Control Function, and / or Third Parties.

Key responsibilities include ensuring requirements of the Global Compliance Enterprise Policy, the Operational Risk Management Enterprise Policy (collectively the Policies ), the Compliance and Operational Risk Management Program and Standard Operating Procedures are implemented and identifying, challenging, escalating, and mitigating risks in a timely manner.

Responsibilities :

Assesses risks and effectiveness of Front Line Unit (FLU) processes and controls to ensure compliance with applicable laws, rules, and regulations, while responding to regulatory inquiries, other audits, and examinations

Engages in activities to provide independent compliance and operational risk oversight of FLU or Control Function (CF) performance and any related third party / vendor relationships in alignment with the Global Compliance - Enterprise Policy, the Operational Risk Management - Enterprise Policy (collectively the Policies) and the Compliance and Operational Risk Management Program and Standard Operating Procedures

Identifies and escalates problems or issues that arise and drives actions to address the root causes that lead to compliance risk issues and / or operational risk losses

Manages inventory of processes, risks, controls, and associated metrics for risk appetite and limits, reporting violations of compliance or regulatory activities

Assists in the development of independent risk management reporting for respective area(s) of coverage as input into country / regional governance and management routines

Analyzes and interprets applicable laws, rules, and regulations to provide clear and practical advice to stakeholders, and identify and manage risks

Reviews and challenges FLU / CF process, risk, Single Process Inventory, and FLU / CF Risk and Control Self-Assessment related to themes or trends, while monitoring the regulatory environment to identify regulatory changes applicable to area(s) of coverage

Managerial Responsibilities :

At Bank of America, all managers at this level demonstrate the following responsibilities, in addition to those specific to the role, listed above.

Diversity & Inclusion Champion : Models an inclusive environment for employees and clients, aligned to company D&I goals.

Manager of Process & Data : Demonstrates deep process knowledge, operational excellence and innovation through a focus on simplicity, data based decision making and continuous improvement.

Enterprise Advocate & Communicator : Communicates enterprise decisions, purpose, and results, and connects to team strategy, priorities and contributions.

Risk Manager : Ensures proper risk discipline, controls and culture are in place to identify, escalate and debate issues.

Skills : Advisory

Advisory

Monitoring, Surveillance, and Testing

Regulatory Compliance

Reporting

Risk Management

Critical Thinking

Influence

Interpret Relevant Laws, Rules, and Regulations

Issue Management

Policies, Procedures, and Guidelines Management

Business Process Analysis

Decision Making

Negotiation

Process Management

Written Communications

Required Skills :

Knowledge of the Global Compliance & Operational Risk Program with an emphasis on monitoring, testing and risk assessment

Knowledge of governance and reporting practices including escalation best practices and guidelines

Knowledge of issue management requirements and remediation

Ability to effectively review and challenge work done by the FLU / CF

15+ Years experience in the Financial Services industry including 5+ years in Risk Management

Working knowledge of test development and execution processes

Desired Skills

Model Risk

Vendor management

Knowledge of Enterprise Independent Testing (EIT) processes

Shift :

1st shift (United States of America)

Hours Per Week :