Compliance and Operational Risk Manager- Global Markets

Bank of America; New York (NY); On-site; USD 96,000 - 172,000; Full time

Job summary

An established industry player seeks a Compliance and Operational Risk Manager to oversee compliance and risk management processes. This pivotal role involves assessing risks, ensuring adherence to regulations, and providing independent oversight for financial operations. The company is committed to fostering a diverse and inclusive work environment, offering competitive benefits and a flexible work approach. Join a team that values growth, collaboration, and making a meaningful impact in the financial sector. If you have a passion for compliance and risk management, this opportunity is perfect for you.

Benefits

Industry-leading benefits

Access to paid time off

Discretionary incentive eligibility

Qualifications

• Minimum of seven years of relevant experience required.
• May require regulatory examination/registration or certification.

Responsibilities

• Assess risks and effectiveness of processes and controls.
• Provide independent compliance and operational risk oversight.
• Identify and escalate compliance risk 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

Education

Bachelor’s Degree in a related field

Job description

Compliance and Operational Risk Manager- Global Markets

Compliance and Operational Risk Manager- Global Markets

Apply locations New York time type Full time posted on Posted 30+ Days Ago job requisition id 24037159

Job Description:

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day.

One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We’re devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.

Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.

Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us!

Job Description:
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.

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

Required Qualifications:

• Minimum of seven years of relevant experience.

• May require regulatory examination/registration or certification, depending on jurisdiction and role.

Desired Qualifications:

• Bachelor’s Degree in a related field.

• Experience in financial services and/or a similarly regulated sector.

Shift:

1st shift (United States of America)

Hours Per Week:

40

Pay Transparency details

US - NY - New York - ONE BRYANT PARK - BANK OF AMERICA TOWER (NY1100) Pay and benefits information Pay range $96,000.00 - $172,000.00 annualized salary, offers to be determined based on experience, education and skill set. Discretionary incentive eligible This role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company. Benefits This role is currently benefits eligible. We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.