2nd-Line Compliance & Operational Risk Lead

Bank of America Corporation; Pennington (NJ); On-site; USD 97,000 - 195,000; Full time

Job summary

Bank of America in the United States seeks a seasoned risk and compliance professional to execute second line of defense oversight for front line and control functions, including third parties. You will ensure adherence to Global Compliance and Operational Risk policies, and translate complex regulations into clear actions for stakeholders.

The role involves assessing FLU processes, escalating risks, maintaining risk inventories, and supporting independent risk reporting.

Qualifications

• Seven years of relevant experience in a compliance or risk 2nd line function.
• Experience with Alternative Investments, CIO, or treasury products.
• May require regulatory examination/registration or certification, depending on jurisdiction and role.

Responsibilities

• Assesses risks and effectiveness of 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 performance and any related third party/vendor relationships in alignment with the Global Compliance - Enterprise Policy, the Operational Risk Management - Enterprise Policy 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

Skills

Advisory

Monitoring

Regulatory Compliance

Reporting

Risk Management

Critical Thinking

Influence

Interpret Relevant Laws

Issue Management

Policies, Procedures, Guidelines

Business Process Analysis

Decision Making

Negotiation

Process Management

Written Communications

Education

Bachelor's Degree

Job description

Bank of America in the United States seeks a seasoned risk and compliance professional to execute second line of defense oversight for front line and control functions, including third parties. You will ensure adherence to Global Compliance and Operational Risk policies, and translate complex regulations into clear actions for stakeholders.

The role involves assessing FLU processes, escalating risks, maintaining risk inventories, and supporting independent risk reporting.