Bank Of America Compliance Operational Risk Manager- Merchant Services 

United States, North Carolina, Charlotte 

407062016

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

• 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

The Merchant Services Technology Compliance and Operational Risk Manager is responsible for ensuring technology solutions and processes comply with current regulations, industry standards, and internal policies related to the Bank’s current and future Merchant Services offerings.

Responsibilities:
• Oversight of strategic change within Consumer Merchant Services functions, applications, user interface and processing. Second Line Oversight of Consumer Merchant Technology material projects and initiatives.
• Regulatory Compliance: Stay abreast of regulatory developments, industry standards, and best practices related to merchant services technology, including but not limited to PCI DSS, GDPR, PSD2, HIPAA, and other relevant regulations.
• Technology Service Second Line Engagement: Engagement in all new product and merchant services technology development.
• Compliance Risk Assessment: Conduct comprehensive risk assessments of technology solutions, processes, and third-party vendors, identifying potential compliance risks and vulnerabilities.
• Compliance Monitoring and Testing: Perform ongoing monitoring and testing of technology solutions and processes to assess compliance with regulatory requirements, internal policies, and industry standards.
• Audit and Examination Support: Support internal and external audits, examinations, and assessments of our compliance program and technology infrastructure, providing documentation, evidence, and assistance as needed.

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.

• 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

• 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.
• Models an inclusive environment for employees and clients, aligned to company D&I goals
• Demonstrates deep process knowledge, operational excellence and innovation through a focus on simplicity, data-based decision making and continuous improvement
• Communicates enterprise decisions, purpose, and results, and connects to team strategy, priorities and contributions
• Ensures proper risk discipline, controls and culture are in place to identify, escalate and debate issues
• Provides inspection, coaching and feedback to motivate, differentiate and improve performance
• Actively manages expenses and budgets in alignment with objectives, making sound financial
• decisions
• Assesses talent and builds bench strength for roles across the organization
• Delivers results by effectively prioritizing, inspecting and appropriately delegating team work

1st shift (United States of America)