Compliance and Operational Risk Manager

Bank of America•Pennington, AL

23h•$97,200 - $195,000•Onsite

About The Position

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! 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.

Requirements

Minimum of seven years of relevant experience in GCOR and/or Third Party Management
May require regulatory examination/registration or certification, depending on jurisdiction and role
Confident analytical and organizational skills with a focus on attention to detail and accuracy
Demonstrated ability to identify, assess, and track regulatory change and translate requirements into actionable guidance for the first line
Ability to manage multiple priorities in a time sensitive environment
Ability to collaborate effectively across multiple teams
Intellectual curiosity and learning agility
Excellent written and verbal communication skills, with the ability to clearly articulate complex regulatory and risk concepts
Ability to prepare high quality materials for senior management and regulatory audiences
Strong interpersonal skills with the ability to build trusted relationships across first and second lines
Sound professional judgment, integrity, and the confidence to provide constructive challenge

Nice To Haves

Bachelor’s Degree in a related field
Experience in financial services and/or a similarly regulated sector
Experience interpreting and applying region and country specific laws, rules, and regulatory guidance across multiple EMEA jurisdictions
Experience with GCOR programs, technology and tools

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
Provide second-line oversight, support regulatory examinations, and challenge regulatory remediation activities
Represent GCOR/ECOR in governance forums and influence strategic decisions across Global Risk Management and Legal Public Policy
This role is the primary second-line Compliance and Operational Risk officer responsible for oversight of both the Global Risk Management (GRM) and Legal and Public Policy (LPP) Laws, Rules, and Regulations (LRR) as well as the LPP Third Party requirements. Provides strategic risk coverage for the GRM/LPP ensuring regulatory requirements are appropriately interpreted, governed, integrated, and executed. Acts as the primary risk advisor for international resiliency programs and emerging regulatory requirements.