Compliance and Operational Risk Specialist

Bank of America•Charlotte, NC

About The Position

At Bank of America, the Compliance and Operational Risk Specialist is a Global Compliance & Operational Risk (GCOR) Analyst providing second-line risk coverage of Consumer and Small Business Product Risk assessments. The role provides independent oversight and effective challenge to the Front Line Unit (FLU), including review of the Single Process Inventory (SPI) and alignment of risks, controls, and metrics. The position oversees risk assessments, monitoring, testing, and issue validation; supports effective control performance and remediation; and guides the business on regulatory requirements. It also supports independent compliance and operational risk oversight, regulatory-change monitoring, reporting, and responses to regulatory inquiries, audits, and examinations.

Requirements

At least 3 years of experience in specific Consumer knowledge and/or Risk experience.
Bachelor’s degree.
Strong grasp of operational risk concepts and frameworks.
Strong interpersonal and team collaboration skills.
Solid project management and organizational capabilities.
Ability to manage multiple priorities in a fast-paced environment.
Ability to work under pressure and meet tight deadlines.
Self-starter with flexibility and strong drive.
Skills include 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

Assess risks and associated controls and their effectiveness; support compliance with applicable laws, rules, and regulations, adherence to policies, and development of reporting and documentation.
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 enterprise policies, the Compliance and Operational Risk Management Program, and Standard Operating Procedures.
Identify and escalate problems or issues and drive actions to address root causes of compliance risk issues and operational risk losses.
Develop independent risk management reporting for areas of coverage as input into management routines.
Respond to regulatory inquiries, audits, and examinations.
Monitor the regulatory environment, identify changes applicable to areas of coverage, and maintain a comprehensive regulatory inventory.
Provide second-line oversight and effective challenge for Consumer and Small Business Product Risk assessments, including review of the Single Process Inventory and alignment of risks, controls, and metrics.
Oversee risk assessments, monitoring, testing, and issue validation; support effective control performance and remediation; and guide the business on regulatory requirements.