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 :
This position may also have responsibilities for managing associates. 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.
People Manager & Coach : Provides inspection, coaching and feedback to motivate, differentiate and improve performance.
Financial Steward : Actively manages expenses and budgets in alignment with objectives, making sound financial decisions.
Enterprise Talent Leader : Assesses talent and builds bench strength for roles across the organization.
Driver of Business Outcomes : Delivers results by effectively prioritizing, inspecting and appropriately delegating team work.
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
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
Minimum Years Business & Functional Experience : 7 Years
Degree Required : Bachelor’s Degree or equivalent experience; May require FINRA registration, Series 7, 14, 24, as indicated by job code
Shift :
1st shift (United States of America)
Hours Per Week :
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