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Bank Of America Country Compliance Operational Risk Specialist 
Germany, Hesse, Frankfurt 
261635198

25.06.2024

Role Description:

  • The Country Compliance and Operational Risk (C&OR) Specialist is responsible for execution the Global Compliance and Operational Risk (GCOR) Program in the country, delivering each element on time, and to the required standard, including the effective review and challenge of Front-Line Units and Control Functions
  • Proactively engage with other C&OR officers, including horizontal coverage owners and Enterprise Areas of Coverage to support in providing comprehensive oversight of the business’ respective operations and activities
  • Preparing materials for C&OR regulatory exams/audits/inquiries and supports in providing consultation to Front-Line Units / Control Functions
  • The focus of this role is to conduct a 2nd line of defense oversight of different businesses, participate in the development of compliance and operational risk procedures, assist in management routines, reporting, assist in compliance and operational risk issues
  • The role is part of the Compliance Function of the BofA Europe DAC, a significiant financial institutions, headquartered in Dublin and member of the EU Country Compliance & Operational Risk team.

Responsibilities:

  • Support in development and maintance of C&OR-owned policies, standards and procedures and/or oversight of business-owned policies, standards and procedures to ensure regulatory and operational risk requirements are appropriately addressed, inclusive conduct risk where applicable
  • Monitor the regulatory environment to identify regulatory changes applicable to areas of coverage, advise on those changes, support in directing the appropriate areas to implement or amend policies, standards, procedures and/or processes to address regulatory requirements, and challenges the implementation plan as needed; support in maintaing a comprehensive regulatory inventory
  • Support in performing compliance and operational risk reviews and assessments
  • Monitoring, testing and working with Testing and surveillance teams
  • Identifies, aggregates, reports, escalates, inspects and challenges remediation plans, and perform thematic analysis on business-owned issues and control enhancements
  • Ensures C&OR “owned” issues and control enhancements are identified and addressed appropriately and timely
  • Contributes to development of risk coverage plans, executes monitoring, testing, risk assessments, communicates results to stakeholders
  • Reviews and challenges to business processes, new products, risk identification, control inventory and Risk & Control Self Assessments
  • Reviews and challenges internal and external operational loss events, including development of remediation plans to strengthen controls
  • Support in ensuring metrics are designed to measure key risks and control performance, monitors and reports on metric performance and breach remediation

What we are looking for:

  • Knowledge and experience at a global financial institution(s) (involvement in Compliance or Risk Management preferred) or regulatory background
  • Experience in working with international, cross-border teams
  • Understanding of compliance and risk management frameworks in the European Union
  • Experience on the practical implementation of regulations
  • Solution driven, confident, highly motivated and able to work independently
  • Demonstrate intellectual curiosity and focused on continues learning and skill development
  • Must be fluent in German and English (additional language of an EU member state is a plus)
  • Proficient with technology and systems
  • Being confortable with change and adjust to dynamically changing demands and requirements
  • Good attention to detail and accuracy

We strive to ensure that our recruitment processes are accessible for all candidates and encourage any candidates to tell us about any adjustment requirements.