Compliance and Operational Risk Specialist - CFO
About The Position
This role executes 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. It reviews and challenges the calculation, governance, controls, data quality, and regulatory reporting of market risk capital. The Specialist ensures that the Global Compliance Enterprise Policy, the Operational Risk Management Enterprise Policy, the Compliance and Operational Risk Management Program, and Standard Operating Procedures are implemented. The role identifies, challenges, escalates, and helps mitigate risks in a timely manner while supporting independent oversight of Front Line Unit or Control Function performance and related third-party/vendor relationships.
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.
- Demonstrates bias for action in executing team priorities.
- Intellectual curiosity, effective inquiry, and critical thinking.
- Effective communication, including strong writing and presentation skills.
- Understands the Bank of America Compliance and Operational Risk Program and applies it to daily work.
- Applies context and understands the purpose behind work deliverables.
- Collaborates across boundaries, builds strategic relationships, and influences or negotiates with internal groups and external stakeholders, including regulators.
- Identifies simpler and better ways of working and adapts to change.
- Works independently, translates broad direction into action, and pursues value-added opportunities.
- Influences stakeholders and drives agendas.
- Skills in monitoring, surveillance, and testing; process management; regulatory compliance; reporting; risk management; attention to detail; interpreting relevant laws, rules, and regulations; issue management; policies, procedures, and guidelines management; active listening; advisory work; business process analysis; and written communications.
Responsibilities
- Supports 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 applicable policies, programs, and procedures.
- Assesses risks and the effectiveness of Front-Line Unit processes and controls to ensure compliance with applicable laws, rules, and regulations.
- Assesses risks and associated controls, drives compliance with laws, rules, and regulations, adheres to policies, and develops reporting and documentation.
- Identifies and escalates problems or issues and drives actions to address root causes of compliance and operational risk issues.
- Assists in developing independent risk management reporting for areas of coverage as input to management routines.
- Assists in responding to regulatory inquiries, audits, and examinations.
- Monitors the regulatory environment for changes applicable to areas of coverage and maintains a comprehensive regulatory inventory.
- Reviews and challenges market risk capital calculation, governance, controls, data quality, and regulatory reporting.
Benefits
- Industry-leading benefits
- Paid time off
- Eligible to participate in the annual discretionary incentive plan
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
