Compliance and Operational Risk Manager- Global Markets

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

Job Description Summary

This job is responsible for executing compliance and operational risk oversight of Global Markets front-line units and supporting functions.

Key responsibilities include ensuring requirements of the Enterprise Regulatory Change Policy and other compliance and operation risk policies are met on a timely basis, and creating content for meetings with regulators.

The role will also be responsible for supporting compliance and operation risk coverage of securities partner banks and data governance.

Key Requirements :

The coverage strategy executive will be part of the Global Compliance and Operational Risk Coverage Strategy Team which oversees a number of compliance and operational risk programs and responsibilities relevant to the global markets businesses including : Regulatory Change, Policies and Procedures, second line coverage of financial markets utilities, the firm's data program, and regulatory reporting.

• 5+ years experience working in an investment bank / financial institution;
• Strong knowledge of compliance risk and control management frameworks, including regulatory change processes and policies;
• Strong interpersonal skills, including the ability to communicate clearly both orally and in writing with compliance and front-line personnel;
• Strong personal drive, attention to detail, individual initiative, a sense of urgency and responsiveness, with a desire to grow, learn, and take on increasing levels of responsibility;
• Detail-oriented and ability to work in a fast-paced environment under pressure ;
• Ability to collaborate with stakeholders at all levels of the organization;
• Proficient in Microsoft Office products.

Responsibilities :

The Global Markets Coverage Strategy Executive's responsibilities include but are not limited to :

Identifying, documenting, and tracking proposed and recently finalized regulatory changes, including maintaining oversight and reporting required in order to assess their potential impact on the Global Markets businesses.

The role requires partnering with compliance coverage officers and front-line unit personnel to gather information on rules to be reviewed during regularly scheduled regulatory change governance routines.

• Supporting the development and maintenance of policies, including preparing reports and materials for monthly policy governance meetings, and assisting policy owners where needed in support of the policy management program.
• Preparing reporting for quarterly regulatory meetings with the OCC, and SEC. Preparation will include drafting materials and holding preparation meetings with presenting executives.
• Supporting compliance and operational risk coverage of the Global Markets data program and initiatives, including data incidence reviews, monitoring and testing.
• Supporting compliance and operational risk coverage of financial markets utilities, including governance routines and monitoring and testing covering securities partner banks and central securities depositories.

Shift :

1st shift (United States of America)

Hours Per Week :