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Bank Of America Compliance Operational Risk Executive- Global Markets United States, New York, New York 98842172
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This job is responsible for leading and executing the second line of defense compliance and operational risk oversight for a Front Line Unit, Control Function, and/or Third Parties. Key responsibilities include leading a compliance and operational risk team and 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 the team is identifying, challenging, escalating, and mitigating risks in a timely manner.
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: Breaks down barriers to create a more inclusive environment that supports company D&I goals.
Manager of Process & Data: Challenges end-to-end process efficiency and effectiveness, champion data driven decision-making and removes obstacles to optimize operations.
Enterprise Advocate & Communicator: Contributes to enterprise strategy and influence messaging to connect team contributions to business purpose, results, and success.
Risk Manager: Inspects and challenges risk controls, governance and culture to ensure the timely identification, escalation, debate and remediation of risk across the organization.
People Manager & Coach: Coaches to sustain and elevates organizational performance while differentiating to ensure pay for performance.
Financial Steward: Efficiently allocates and manages resources across the organization to drive short and long term profitability.
Enterprise Talent Leader: Inspects and manages the health of the bench to ensure succession for the organization, while supporting enterprise talent needs.
Driver of Business Outcomes: Mobilizes organizational resources to deliver the full range of the bank’s capabilities to meet client needs and to gain competitive advantage.
Skills:
Advisory
Decision Making
Interpret Relevant Laws, Rules, and Regulations
Regulatory Compliance
Risk Management
Executive Presence
Issue Management
Policies, Procedures, and Guidelines Management
Prioritization
Written Communications
Business Acumen
Business Process Analysis
Critical Thinking
Negotiation
Resource Management
Job Description Summary
The team’s focus will be GM FLU’s compliance with requirements relating to processes, controls, metrics as well as the Operational Risk program requirements.
This job is responsible for leading and executing the second line of defense compliance and operational risk oversight for a Front-Line Unit, Control Function, and/or Third Parties. Key responsibilities include leading a compliance and operational risk team and 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 the team is identifying, challenging, escalating, and mitigating risks in a timely manner.
Responsibilities:
Oversees the assessment of risks, associated controls and their effectiveness, while driving compliance with applicable laws, rules, and regulations and adhering to policies
Oversees engagement in activities which provide independent compliance and operational risk oversight of Front-Line Unit or Control Function 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
Oversees identification and escalation of problems or issues that arise and drives actions to
address the root causes that lead to compliance risk issues and/or operational risk losses
Oversees and manages inventory of risks and associated metrics for risk appetite and limits, reporting violations of compliance or regulatory activities
Manages the development of independent risk management reporting for respective area(s) of coverage for inputs into management routines which could include country/regional governance
Oversees monitoring of the regulatory environment to identify regulatory changes applicable to area(s) of coverage
Required Qualifications
Minimum of 10 plus Years of Business & Functional
Degree Required: Bachelor’s Degree; May require regulatory examination/registration or certification depending on jurisdiction and role
Desired Skills
Additional Technical/Functional Experience (e.g.Industry type): Financial Services or similarly regulated sector
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