Bank Of America Compliance Operational Risk Manager - Information Wall 

United States, North Carolina, Charlotte 

642211099

Job Description:

Job Description:

This job is responsible for executing second line of defense compliance and operational risk oversight for Global Compliance and Operational Risk. 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 Global Compliance and Operational Risk 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 Global Compliance and Operational Risk 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

• Ensures proper risk discipline, controls and culture are in place to identify, escalate and debate issues.

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 Compliance and Operational Risk (C&OR) Manager is responsible for engaging 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; (“CORM”) Program and Standard Operating Procedures (SOPs). As a member of an FLU or CF C&OR officer team, the C&OR Manager is accountable for proactive identification, management and escalation of compliance and operational risks through the execution of some or all of the below identified activities. This role exercises judgment and influence, and may constructively challenge FLU and CF leaders to support the CORM Program objectives, balancing business strategy with appropriate controls.

The C&OR Manager contributes to the requirements of the CORM Program requirements including, but not limited to the following activities:

• Produces and/or oversees the development of independent risk management reporting for respective area(s) of coverage as input governance and management routines

• Provides subject matter expertise to assist the FLU/CF in establishing an annual learning plan, may be accountable for developing and delivering training content

• Develops and maintains C&OR-owned policies and standards and/or provides oversight of FLU/CF-owned policies, standards and procedures to ensure regulatory and operational risk requirements are appropriately addressed, inclusive of conduct risk as applicable

• Monitors the regulatory environment to identify regulatory changes applicable to area(s) of coverage, advises business leaders on those changes, directs the appropriate areas to implement or amend policies, standards, procedures and/or processes to address regulatory requirements, and challenges the implementation plan as needed; maintains a comprehensive regulatory inventory

• Identifies, aggregates, reports, escalates, inspects and challenges remediation plans, and performs thematic analysis on FLU/CF-owned issues and control enhancements

• Ensures C&OR “owned” issues and control enhancements are identified and addressed appropriately and timely

• Contributes to or leads development of risk coverage plans, executes and / or oversees execution of independent risk monitoring, testing and risk assessments, communicates results

• Reviews and challenges the FLU/CF process, risk, control (PRC) inventory and FLU/CF Risk & Control Self Assessment (RCSA)

• Reviews and challenges internal and external operational loss events, including development of remediation plans to strengthen controls, and approves where appropriate

• Participates in Scenario Analysis activities for coverage areas and challenges as appropriate

• Ensures metrics are designed to measure key risks and control performance, monitors and reports on metric performance and breach remediation

Required Skills

• Knowledge of the GCOR Program with an emphasis on monitoring, testing and risk assessment

• Knowledge of governance and reporting practices including escalation best practices and guidelines

• Knowledge of issue management requirements

• Ability to effectively review and challenge work done by the FLU/CF

• Information Wall experience inclusive of handling Material Non-Public Information

Desired Skills

• 10+ Years experience in Risk Management with 5+ years related to Control Room

• Working knowledge of Information Wall policy and standard requirements

1st shift (United States of America)