Compliance and Operational Risk Specialist
About The Position
At Bank of America, this role assists the Compliance and Operational Risk officer team in executing second-line compliance and operational risk oversight for a Front Line Unit, Control Function, and/or third parties. The specialist supports implementation of the Global Compliance Enterprise Policy, the Operational Risk Management Enterprise Policy, the Compliance and Operational Risk Management Program, and related Standard Operating Procedures. The role also supports second-line Trade Surveillance activities for Associate Investment Monitoring (AIM) and Dodd-Frank Title VII Swap Dealer policy and regulatory requirements. The position assesses risks and controls, promotes compliance with applicable laws, regulations, and enterprise policies, and helps identify, challenge, escalate, and mitigate risks and control issues. It supports regulatory inquiries, audits, and examinations; develops risk reporting and analytics; and monitors regulatory developments to maintain a current regulatory inventory. Bank of America describes an in-office culture intended to support collaboration, engagement, and career development, with role-specific flexibility based on responsibilities and business needs. The position is listed for Jersey City, New Jersey, and New York, New York, and is a 1st-shift role of 40 hours per week.
Requirements
- At least 5 years of experience combining compliance, risk, regulatory compliance, or trade surveillance.
- Skills in monitoring, surveillance, and testing.
- Process management skills.
- Regulatory compliance and reporting skills.
- Risk management skills.
- Attention to detail and critical thinking.
- Ability to interpret relevant laws, rules, and regulations.
- Issue management skills.
- Knowledge of policies, procedures, and guidelines management.
- Active listening, advisory, business process analysis, and written communication skills.
Responsibilities
- Assist in assessing risks and associated controls and their effectiveness, promoting compliance with applicable laws, rules, and regulations, adhering to policies, and developing 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/vendor relationships in alignment with enterprise policies, the Compliance and Operational Risk Management Program, and Standard Operating Procedures.
- Help identify and escalate problems or issues and drive actions addressing root causes of compliance risk issues and operational risk losses.
- Assist in developing independent risk management reporting for assigned areas of coverage as input into management routines.
- Assist in responding to regulatory inquiries, audits, and examinations.
- Monitor the regulatory environment for changes applicable to assigned areas and maintain a comprehensive regulatory inventory.
- Support second-line Trade Surveillance activities for Associate Investment Monitoring (AIM) and Dodd-Frank Title VII Swap Dealer policy and regulatory requirements.
Benefits
- Paid time off.
- Access to resources and support for employees.
- Eligibility for an annual discretionary incentive award based on individual performance and behavior, business group performance and contributions, and overall company success.
Stand Out From the Crowd
Upload your resume and get instant feedback on how well it matches this job.
What This Job Offers
Job Type
Full-time
Career Level
Mid Level
Education Level
No Education Listed
