Compliance and Operational Risk Executive - Global Commercial Banking

Bank of America•Charlotte, NC

About The Position

At Bank of America, the Compliance and Operational Risk Executive leads and executes second-line compliance and operational risk oversight for a Front Line Unit, Control Function, and/or third parties. The role leads a compliance and operational risk team and ensures implementation of the Global Compliance Enterprise Policy, Operational Risk Management Enterprise Policy, Compliance and Operational Risk Management Program, and Standard Operating Procedures. The team is expected to identify, challenge, escalate, and mitigate risks in a timely manner. The position provides compliance and operational risk coverage for Global Commercial Banking, serving business clients with $50 million to $2 billion in revenue. Coverage includes client selection, onboarding, ongoing relationship management, client-facing solutions, and internal tools and support. The executive manages execution of compliance and operational risk program elements to promote a comprehensive, risk-based approach to proactively identifying, managing, mitigating, and escalating risks, and represents the function on change initiatives within the Global Compliance and Operational Risk organization.

Requirements

10 or more years of experience in Risk Management, Commercial Banking, and/or Regulatory Compliance.
Skills in advisory, decision making, interpreting relevant laws, rules and regulations, regulatory compliance, risk management, executive presence, issue management, policies/procedures/guidelines management, prioritization, written communications, business acumen, business process analysis, critical thinking, negotiation, and resource management.

Nice To Haves

Experience in financial services or a similarly regulated sector.

Responsibilities

Oversee assessment of risks, associated controls, and control effectiveness; drive compliance with applicable laws, rules, and regulations and adherence to policies.
Oversee independent compliance and operational risk oversight of Front-Line Unit or Control Function performance and related third-party/vendor relationships, in alignment with enterprise policies, the Compliance and Operational Risk Management Program, and Standard Operating Procedures.
Oversee identification and escalation of problems or issues and drive actions addressing root causes of compliance risk issues and operational risk losses.
Oversee and manage inventories of risks and associated risk appetite and limit metrics, including reporting violations of compliance or regulatory activities.
Manage development of independent risk management reporting for areas of coverage for management routines, potentially including country or regional governance.
Oversee monitoring of the regulatory environment to identify regulatory changes applicable to areas of coverage.
Lead and execute compliance and operational risk coverage for Global Commercial Banking clients with $50 million to $2 billion in revenue, including client selection, onboarding, relationship management, client-facing solutions, and internal tools and support.
Manage execution of compliance and operational risk program elements and represent the function on organizational change initiatives.
If managing associates, model inclusion; promote process and data excellence; communicate enterprise decisions and strategy; maintain risk discipline; coach and develop employees; manage expenses and budgets; build organizational talent; and prioritize, inspect, and delegate work to deliver business outcomes.