Compliance and Operational Risk Specialist - CFO

Bank of America; Charlotte (NC); On-site; USD 71,000 - 131,000; Full time

Benefits offered by this job

Benefits eligible

Job summary

Bank of America is recruiting for a Compliance and Operational Risk role in the United States. The position focuses on implementing policies, assessing risk, and supporting regulatory inquiries within the Global Compliance framework.

The role requires strong communication skills, at least three years in financial services, and a Bachelor’s degree. It offers in-office work with solid benefits and opportunities for growth within a large, diverse organization.

Qualifications

• Bachelor’s degree in a relevant field required.
• 3+ years of financial services compliance or risk work experience.
• Strong communication, writing and presentation skills.

Responsibilities

• Provide oversight of Front Line Unit performance and third party relationships in line with Global Compliance and Operational Risk policies.
• Assess risks and controls to ensure regulatory compliance and respond to inquiries and audits.
• Escalate issues and drive root-cause actions for risk mitigation.
• Develop independent risk management reporting for areas of coverage.
• Monitor regulatory changes and maintain a regulatory inventory.

Skills

Monitoring Surveillance Testing

Process Management

Regulatory Compliance

Risk Management

Attention to Detail

Critical Thinking

Written Communications

Sh​ift: US

Education

Bachelor’s Degree

Job description

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. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day. Being a Great Place to Work and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates’ physical, emotional, and financial wellness through affordable, competitive and flexible benefits. We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve. Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role‑specific responsibilities and business needs. At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

Key responsibilities

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

• Engages in activities to provide support to the Compliance and Operational Risk teams in order to 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
• 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
• Assists in assessing risks, associated controls and their effectiveness, while driving compliance with applicable laws, rules, and regulations, adhering to policies, and developing reporting and documentation
• Assists in identifying and escalating problems or issues that arise and drives actions to address the root causes that lead to compliance risk issues and/or operational risks
• Assists in the development of independent risk management reporting for respective area(s) of coverage as inputs into management routines
• Assists in responding to regulatory inquiries and other audits or examinations
• Monitors the regulatory environment to identify regulatory changes applicable to area(s) of coverage and maintains a comprehensive regulatory inventory

Required Skills

• Capital Risk and/or Market Risk Experience
• Compliance / Operational Risk Experience
• Minimum of 3 years’ experience in financial services
• Bachelor’s Degree
• Demonstrates bias for action in order to execute team priorities
• Intellectual curiosity - approaches each day with a curious mindset; effectively uses inquiry to uncover facts and circumstances; consistently applies critical thinking
• Communication - ability to communicate effectively and with impact, including strong writing and presentation skills
• Understands the Bank of America Compliance and Operational Risk Program and how it applies to daily work activity
• Applies the context to work deliverables; demonstrates understanding of the "why"
• Collaboration - Develops networks and builds alliances; collaborates across boundaries to build strategic relationships and achieve common goals.
• Influencing and negotiating across external stakeholders (regulators) as well as internal groups
• Innovative - ability to identify simpler and better ways of doing things; embraces and adapts to change well
• Autonomy - self-starting, able to translate broad-strokes to actions.
• Actively seeks and executes on value-added opportunities
• Influence - ability to influence stakeholders and drive agenda

Skills

• Monitoring, Surveillance, and Testing
• Process Management
• Regulatory Compliance Reporting
• Risk Management
• Attention to Detail
• Critical Thinking
• Interpret Relevant Laws, Rules, and Regulations
• Issue Management
• Policies, Procedures, and Guidelines
• Management
• Active Listening
• Advisory
• Business Process Analysis
• Written Communications
• Shift: 1st shift (United States of America)
• Hours Per Week: 40

Pay Transparency details

• US - NJ - Jersey City - 525 Washington Blvd (NJ2525)
• US - NJ - Pennington - 1600 American Blvd - Hopewell Bldg 6 (NJ2600)
• US - NY - New York - ONE BRYANT PARK - BANK OF AMERICA TOWER (NY1100)

Pay and benefits information

Pay range $70,800.00 - $130,500.00 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.

Privacy Statement

Privacy Statement: https://careers.bankofamerica.com/en-us/privacy-notice

Company Culture

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! Partnering Locally Learn about some of the ways Bank of America is making a difference in the communities we serve. Global Impact Learn about the six areas that guide Bank of America’s efforts to help make financial lives better for customers, clients, communities and our teammates. Opportunity and Inclusion Each employee brings unique skills, background and opinions. We see opportunity and inclusion as our platform for innovation and a key component in our success. Our Values Learn about our four values that represent what we believe.

Pay Transparency

Pay Transparency: https://careers.bankofamerica.com/en-us/pay-transparency