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 supporting the execution of the Global Compliance - Enterprise Policy, the Operational Risk Management - Enterprise Policy and the Compliance and Operational Risk Management Program.
Key responsibilities include assisting with identifying, escalating, and mitigating risks in a timely manner, supporting engagement and Control Functions (FLU / CF) leaders globally, coordinating with the FLU / CF Compliance and Operational Risk Officer teams, identifying themes and trends, conducting analysis for new and emerging risks.
Responsibilities :
- Assists in assessing risks, associated controls and their effectiveness, driving compliance with applicable laws, rules and regulations and adhering to policies, and developing reporting and documentation
- Engages in activities to provide independent compliance and operational risk oversight of Front Line Unit or Control Function (FLU / 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
- Assists in identifying and escalating problems or issues that arise and drives actions to address the root causes that lead to compliance risk issues and / or operational risk losses, and may assist with opening new issues in the centralized issues tool
- Maintains an inventory of processes, risks, and controls and associated metrics for risk appetite and limits, reporting violations of compliance or regulatory activities
- Assists in responding to regulatory inquiries and other audits and examinations including monitoring the regulatory environment to identify regulatory changes applicable to area(s) of coverage and maintain 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
- 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 :
- Analytical Thinking
- Regulatory Compliance
- Reporting
- Risk Management
- Written Communications
- Active Listening
- Adaptability
- Issue Management
- Monitoring, Surveillance, and Testing
- Policies, Procedures, and Guidelines Management
- Advisory
- Business Process Analysis
- Interpret Relevant Laws, Rules, and Regulations
- Process Management
Chief Financial Officer and Data Compliance and Operational Risk (CFOD COR), seeks to deliver effective independent risk management of the activities and processes of the CFO Group and Enterprise-wide activities and processes associated with managing the Company's data.
CFOD COR drives responsible growth at Bank of America by developing our teammates, promoting a diverse and inclusive culture and approaching our work with intellectual curiosity and dispassionate objectivity.
CFOD COR delivers its mission through a steadfast commitment to its values : managing risk well; cultivating diversity of thought and valuing different perspectives and experiences;
driving an inclusive culture that promotes learning, fostering relationships and creativity; developing talent, advancing careers and creating leaders within Global Risk Management and across the company.
The EAC Specialist for the CFOD COR team is an individual contributor member of the CFOD COR team and drives execution of the 2nd line independent compliance and operational risk oversight of the firm's Data and Finance organizations.
The CFOD COR EAC Specialist assists in engaging stakeholder areas across CFOD COR, to provide comprehensive oversight of the firm's data processes and activities, financial planning and analysis, financial and regulatory reporting, and accounting activities.
This includes preparing materials for regulatory exams, audits, and other inquiries, and may assist with preparation for internal management and governance routines.
Activities this role performs for their area of coverage include, but are not limited to :
- Engages in activities to provide independent compliance and operational risk oversight of Front-Line Unit or Control Function (FLU / 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
- Assist with CFOD COR review and challenge of 1st line remediation of issues, including both internal and regulatory issues as well as assisting with CFOD COR remediation of their owned issues
- Develop, maintain, document and execute routines to communicate CFOD COR's Enterprise Risk Point of View, including qualitative and quantitative information and incident and issue escalation
- Assists in the development of independent risk management reporting as input into governance and management routines
- Assist across CFOD COR with engagement with regulators and audit, including standing routines, exams, and ad hoc inquiries
- Assists with the development and maintenance of C&OR-owned policies and standards to ensure regulatory and operational risk requirements are appropriately addressed, inclusive of conduct risk as applicable
- Supports the review and challenge of internal and external operational loss events, including development of remediation plans to strengthen controls
Required Skills :
- 4+ years of Financial Services experience
- Strong analytical and organizational skills with a focus on attention to detail and accuracy
- Intellectual curiosity and learning agility
- Bachelor's Degree or equivalent experience
Desired Skills :
- Experience in Data Management, Risk Management or Business Controls
- Experience collecting, aggregating, and analyzing information for various types of reporting
- Experience creating reporting that provides management-level insight into key data points
- Experience with monitoring information to identify changes in business or risk trends
- Strong ability to communicate in written and oral form with business stakeholders and management of all levels
- Proficient in the Microsoft Office suite with advanced Microsoft Excel skills
- Experience working with teams with diverse skill sets, executing a long-term departmental strategy and comfortable with working in a changing environment
Additional Skills and Competencies :
- Vision- Takes a long-term view and builds a shared vision with others, acts as a catalyst for organization change. Influences others to translate vision into action
- Communication- Can articulately paint credible pictures & visions of possibilities and likelihoods
- Resilience- Deals effectively with pressure; remains optimistic and persistent, even under adversity. Recovers quickly from setbacks.
On occasion required to take an unpopular stand
- Collaboration- Develops networks and builds alliances; collaborates across boundaries to build relationships and achieve common goals.
- Interpersonal Skills- Treats others with courtesy, sensitivity, and respect. Considers and responds appropriately to the needs and feelings of different people in different situations
- Leveraging Diversity- Fosters an inclusive workplace where diversity and individual differences are valued and leveraged to achieve the vision and mission of the organization.
Exposure and involvement with Employee Engagement initiatives including supporting Diversity & Inclusion efforts
Shift :
1st shift (United States of America)
Hours Per Week :