Compliance and Operational Risk Specialist - CFO

Bank of America•Charlotte, NC

8h•Onsite

About The Position

At Bank of America, the Compliance and Operational Risk Specialist executes second-line-of-defense compliance and operational risk oversight for CFO Capital activities across the bank’s US and EMEA entities, with a particular focus on market risk capital and associated regulations. The role reviews and challenges activities including market risk capital calculation, governance, controls, data quality, and regulatory reporting. The specialist helps ensure that the Global Compliance Enterprise Policy, Operational Risk Management Enterprise Policy, Compliance and Operational Risk Management Program, and Standard Operating Procedures are implemented. The role identifies, challenges, escalates, and mitigates risks in a timely manner, and supports independent oversight of Front Line Unit or Control Function performance and relevant third-party or vendor relationships. The position is based at one of the listed New Jersey or New York locations. Bank of America describes an in-office culture with role-specific flexibility.

Requirements

Capital Risk and/or Market Risk experience.
Compliance and/or Operational Risk experience.
At least 3 years of experience in financial services.
Bachelor’s degree.
Demonstrated bias for action in executing team priorities.
Intellectual curiosity, effective inquiry, and critical-thinking skills.
Effective communication, including strong writing and presentation skills.
Understanding of the Bank of America Compliance and Operational Risk Program and its application to daily work.
Ability to apply context and understand the purpose behind work deliverables.
Collaboration skills, including building networks and working across organizational boundaries.
Ability to influence and negotiate with external stakeholders, including regulators, and internal groups.
Ability to identify simpler and better ways of working and adapt to change.
Self-starting autonomy, with the ability to translate broad direction into action and pursue value-added opportunities.
Ability to influence stakeholders and drive an agenda.
Skills in monitoring, surveillance and testing; process management; regulatory compliance reporting; risk management; attention to detail; critical thinking; interpreting relevant laws, rules and regulations; issue management; policies, procedures and guidelines management; active listening; advisory; business process analysis; and written communications.

Responsibilities

Support Compliance and Operational Risk teams in providing independent oversight of Front Line Unit or Control Function performance and related third-party or vendor relationships, in alignment with applicable enterprise policies, programs, and procedures.
Assess risks and the effectiveness of Front-Line Unit processes and controls to ensure compliance with applicable laws, rules, and regulations.
Assist in assessing risks and associated controls, driving compliance with applicable requirements, adhering to policies, and developing reporting and documentation.
Identify and escalate problems or issues, and drive actions to address root causes of compliance and operational risk issues.
Assist in developing independent risk management reporting for covered areas as inputs to management routines.
Assist in responding to regulatory inquiries, audits, and examinations.
Monitor the regulatory environment for changes applicable to covered areas and maintain a comprehensive regulatory inventory.
Review and challenge market risk capital calculation, governance, controls, data quality, and regulatory reporting.