Bank Of America Dodd Frank EAC Compliance Operational Risk Executive 

United States, New York, New York 

586672405

Key Requirements:

Individual will be part of the GCOR Swaps Enterprise Area of Coverage
(“Swap Dealer EAC”)team which covers compliance with the Swaps Program across Bank of America (all business lines) globally; key requirements for the role:

• 10+ years’ experience covering swaps related legal or compliance matters for or on behalf of a major U.S. institutional swap dealer or bank with a strong knowledge of Title VII / Dodd Frank;

• Significant experience interfacing with the CFTC, NFA, and/or SEC on swap related matters;

• Proven ability to communicate clearly both orally and in writing with senior stakeholders and external regulators;

• Strong knowledge of swap dealer and FCM risk and control frameworks and ability to analyze business risk and results in the context of regulatory priorities and industry norms;

• Detail-oriented and ability to work in a fast-paced environment, under pressure;

• Strong collaborative skills;

• Ability to lead regulatory advocacy initiatives and drive changes with senior business leaders; industry colleagues, and members of the broader Markets GCOR team;

• JD not required, but a plus, particularly if the candidate has engaged with regulators as counsel on behalf of major institutional swap dealers or banks.

Swap Dealer EAC

• The Swap Dealer Enterprise Area of Coverage (EAC) Compliance & Operational Risk (C&OR) is made up of subject matter experts on swap dealer processes, controls, laws, rules and/or regulations that have enterprise-wide applicability, affecting Front Line Units (“FLU”) and Control Functions (“CF”). Among other things, the EAC is responsible for the implementation and oversight of the Global Compliance -- Enterprise Policy, the Operational Risk Management -- Enterprise Policy (collectively “the Policies”) and the Compliance and Operational Risk Management (“CORM”) Program as applied to the firm’s swap dealers. The EAC identifies, escalates and mitigates risks in a timely manner in alignment with the CORM Program and the Policies, and engages with FLU/CF leaders globally, coordinating with the FLU/CF C&OR coverage officer teams to independently advise them on effectively managing the swap dealer risks related to their line of business coverage areas. The EAC assists in engaging other C&OR officers, to provide comprehensive oversight of FLU/CF activities, and also assists in preparing materials for C&OR regulatory exams/audits/inquiries as well as the preparation for FLU/CF regulatory exams/audits/inquiries. Finally, the EAC engages with regulators on both routine and extraordinary matters related to the swap dealer’s and FCM’s compliance with laws, rules, and regulations.

• Specific activities this for this role will include, but are not limited to:

  • Engaging senior representatives of the firm’s CFTC, NFA, and SEC regulators on matters of focus or concern to the firm, including formal or informal regulatory findings, settlements, proposed rule-making, industry initiatives, and advocacy.

  • Monitoring the regulatory environment to identify regulatory changes applicable to area(s) of coverage, advises business leaders on those as well as required amendments to policies, standards, procedures and/or processes to address those regulatory changes

  • Identifies regulatory training needs driven by regulatory interactions or changes

  • Inspects and challenges remediation plans addressing take aways from regulatory interactions.

  • Engaging with peers at other large Swap dealers and FCM’s on key industry issues

  • Engaging with industry working groups including ISDA, ESMA, and SIFMA on key industry initiatives impacting swap dealers and FCM’s.

1st shift (United States of America)