Compliance and Operational Risk Specialist
About The Position
At Bank of America, the Compliance and Operational Risk Specialist assists the Compliance and Operational Risk officer team in executing second-line-of-defense compliance and operational risk oversight for a Front Line Unit, Control Function, and/or third parties. The role 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. It helps identify, challenge, escalate, and mitigate risks in a timely manner. The specialist supports second-line Trade Surveillance activities for Associate Investment Monitoring (AIM) and Dodd-Frank Title VII Swap Dealer policy and regulatory requirements. The role assesses risks and controls, supports compliance with applicable laws, regulations, and enterprise policies, identifies and escalates risks and control issues, assists with regulatory inquiries and audits, develops risk reporting and analytics, and monitors regulatory developments to keep the regulatory inventory current. The position is based at one of the listed Bank of America locations in Jersey City, New Jersey, or New York, New York, and is designated as first shift, 40 hours per week. The role is eligible for an annual discretionary incentive plan and benefits, including access to paid time off.
Requirements
- At least 5 years of experience combining compliance, risk, regulatory compliance, or trade surveillance.
- 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
- Assist in assessing 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 independent compliance and operational risk 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 support actions to address root causes leading to compliance risk issues or operational risk losses.
- Assist in developing independent risk management reporting for the covered area as input into management routines.
- Assist in responding to regulatory inquiries, audits, and examinations.
- Monitor the regulatory environment for changes applicable to the covered area 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
- Access to paid time off
- Industry-leading benefits
- Eligibility for an annual discretionary award based on individual performance and behaviors, line of business or group performance and contributions, and overall company success
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What This Job Offers
Job Type
Full-time
Education Level
No Education Listed
