Compliance and Operational Risk Manager, Investment Solutions Group

Bank of America • Jersey City, NJ

8d • $97,200 - $195,000 • Onsite

About The Position

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
• May require regulatory examination/registration or certification, depending on jurisdiction and role

Nice To Haves

• Bachelor’s Degree in a related field
• Experience in financial services and/or a similarly regulated sector
• Credible Challenge
• Issues Management & Resolution
• Process Management & Inventory
• Regulatory Knowledge
• Risk Identification & Assessment
• Products, Services & Acumen
• Compliance Risk Principles
• Conduct Risk Principles
• Compliance & Operational Risk Program Management
• Operational Risk Principles
• Advisory
• Monitoring, Surveillance, and Testing
• Regulatory Compliance Reporting
• Risk Management
• Critical Thinking
• Influence
• Interpret Relevant Laws, Rules, and Regulations
• Issue Management
• Policies, Procedures, and Guidelines Management
• Business Process Analysis
• Decision Making
• Negotiation
• Process Management
• Written Communications

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

Benefits

• Access to paid time off
• Resources and support to our employees
• Discretionary incentive eligible
• Annual discretionary award based on individual performance, line of business performance, and overall company success.

What This Job Offers

• Job Type: Full-time
• Career Level: Senior