Compliance and Operational Risk Manager - Conflicts of Interest

Job Description :

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection.

Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day.

One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We're devoted to being a diverse and inclusive workplace for everyone.

We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.

Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.

Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us!

Job 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
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

Enterprise Conflicts of Interest Compliance and Operational Risk (Enterprise COI COR) assists in engaging other COR officers and FLU / CF Conflicts Officers, including horizontal coverage owners and EACs, to provide comprehensive oversight of FLU / CF activities related to Conflicts of Interest.

The Enterprise COI COR team is responsible for enterprise program requirements to drive understanding, accountabilities and escalation of related Conflicts risks.

The Enterprise COI COR Manager has responsibility for executing COR program elements including the development and execution of monitoring and testing and risk assessments aligned to the Conflicts of Interest program.

• Specifically, this role will execute the Enterprise Conflicts of Interest program oversight. Activities include, but are not limited to :
• Reviews and challenges FLU / CF process, risk, Single Process Inventory related to Conflicts risk
• Working with EACs and C&OR coverage officers to review and challenges the FLU / CF single process inventory and Conflicts of Interest Registry
• Develops, executes and / or provides oversight of Monitoring, Testing, Metrics and Controls are designed to measure key risks and control performance, and reports on metric performance and breach remediation governance and management routines.
• Networks internally with appropriate liaisons to identify emerging risks
• Identifies, aggregates, reports, escalates, inspects and challenges remediation plans, and performs thematic analysis on FLU / CF-owned issues and control enhancements as it relates to Conflicts risk
• Provides subject matter expertise to C&OR officers and FLU / CF as needed
• Analyzes and interprets applicable laws, rules, and regulations to provide clear and practical advice to stakeholders, and identify and manage risks including monitoring the regulatory environment to identify regulatory changes applicable to area(s) of coverage and maintaining a comprehensive regulatory inventory, while supporting communication of regulatory changes to the FLU / CF and ensuring that policies, standards, procedures and / or processes are appropriately implemented or amended to address regulatory requirements
• Manage the COI Registry / Non-Standard Inquiry Platform, Perform Targeted Assessments, experience developing / analyzing monitoring activities and tests.

Skills Needed : Excel, data management, SharePoint, Broker Dealer or Consumer backgrounds

Required Skills :

• Minimum years business and functional experience or compliance and operational risk experience : 5 years
• Bachelors degree or equivalent experience
• Advanced Microsoft Excel and SharePoint site management
• Demonstrated strong business writing, presentation and verbal communication skills are required. Candidates will need to be able to work across the Enterprise to complete their responsibilities.

Desired Skills

• Ability to interact with all levels of personnel, globally, including senior executives.
• Previous Business Controls experience and / or Compliance and Operational Risk experience preferred including the ability to understand effective process design and execution, rules and regulations to FLU / CF owned processes with an emphasis on bank and / or broker-dealer products.
• Detail-oriented and highly organized, inquisitive, self-driven, and positive under pressure
• Ability to respond appropriately to time-sensitive requests
• Demonstrated ability as a team player on a small team Previous experience developing monitoring, testing, and executing risk assessments

Shift :

1st shift (United States of America)

Hours Per Week :