Compliance and Operational Risk Specialist - CFO

Bank of America•Jersey City, NJ

2d•$70,800 - $130,500•Onsite

About The Position

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.

Requirements

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

Nice To Haves

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

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