Job Description:This job is responsible for executing second line of defense compliance and operational risk oversight for CFO Capital activities in Bank of America's US and EMEA entities, with a particular focus on market risk capital and associated regulations. The role reviews and challenges these activities such as the calculation, governance, controls, data quality and regulatory reporting of market risk capital.
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 detailsUS - 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.
