Regulatory Relations Senior Exam Manager
The Senior Exam Manager will be responsible for:
- Managing relationships with our securities regulators
- Plan and execute large, complex exams with our securities regulators
- Help regulators navigate through the company
- Escalate regulator concerns
- Lead/participate in regulatory routines⁻Collect and share key insights
- Help senior executives prepare for regulatory activities
- Strong business knowledge of Bank of America’s business lines, operations, organizational structure, senior executives, etc.
- 5 – 7 years experience in planning and executing large-scale, complex regulatory exams and/or large-scale projects
- Ability to influence at all levels, including senior executives
- Must have an executive presence and ability to influence effectively at various levels within the company
- Strong interpersonal skills with ability to build effective relationships.
- Excellent verbal and written communication skills
- Strong presentation skills with ability to deliver key messages clearly and succinctly
- Ability to identify themes/trends and issues from exams and routines, and formulate key highlights and recommended actions.
- Sound understanding of financial regulatory agencies and regulatory oversight and supervision.
- Collaborative, team player and ability to connect with people across the enterprise·
- Self-starter, able to work independently and with a team with minimal supervision
- Ability to think “outside of the box”
Enterprise Role Overview:
The Regulatory Engagement & Exam Management Manager holds primary accountability for the examination execution. Provides leadership and guidance to business leaders on exams, inquiries and other interactions. May manage other specialists. Responsible for providing leadership direction, attracting, assessing, developing, motivating and retaining a successful team in the following activities:
• Manages regulatory exams for a line of business or function.
• Understands, is accountable and can lead others through the phases outlined in the Bank of America Regulatory Exam Management Standards.
• Ensures a readiness assessment (if advance notice of the exam is received and if practical) is performed of the end to end process being examined to identify any control gaps or weaknesses, potential issues and potential emerging risks. Readiness assessment includes:
• Review of regulatory handbooks/standard testing questions (e.g., OCC Exam Handbooks, FFIEC Handbook, CFPB Exam Manual).
• Review of any recent regulatory guidance or regulatory changes issued.
• Review of any open and closed issues arising from past regulatory exams, internal audits, credit reviews or self-identified issues.
• Ensures the proper level of senior executive engagement and subject matter expertise on the exam team.
• Completes Exam Management training each calendar year and determines which exam management team members should attend Exam Management training, if any.
• Manages and conducts Pre-Exit and Exit meetings.
• Coordinates responses to regulatory inquiries and other counter parties such as agencies, GSE, investors, etc.
Ongoing Supervision Meetings
• Assists in the planning and coordination of ongoing supervision meetings with regulators, including meetings with Front Line Unit (FL) and Control Function (CF) Executives.
• Prepares executives and business leadership on key messages to present when working with regulators.
• As appropriate, coordinates Bank’s Response to regulator supervisory letter.
• Manages and provides active oversight of the tollgate process meetings.
• Shares exam information / regulator perspective on the issues to influence the action plans.
Regulatory Activity Tracking, Reporting and Escalation
• Serves as primary liaison to the Global Regulatory Relations team.
• Engages business leaders and Audit on regulatory matters to ensure risk mitigation.
• Contributes to effective reporting and communication routines to achieve FLU/CF understanding of key issues.
• Responsible for escalating any regulator concerns, emerging themes or issues.
Responsible for ensuring consistent quality of activities, processes and outputs by establishing effective review practices across teams.
TO BE USED IN GLOBAL COMPLIANCE ONLY: The Regulatory Engagement & Exam Management Manager holds primary accountability for the examination execution. Provides leadership and guidance to business leaders on exams, inquiries and other interactions. May manage other specialists. Responsible for providing leadership direction, attracting, assessing, developing, motivating and retaining a successful team in the following activities: Exam Management; regulatory inquiries; ongoing supervision meeting; regulatory responses; and regulatory activity tracking, reporting and escalation. Responsible for ensuring consistent quality of activities, processes and outputs by establishing effective review practices across teams.
Job number: 17068163