Compliance & Operational Risk Manager - Global Markets

Bank of America • New York, NY

3d • $97,200 - $230,000 • Onsite

About The Position

At Bank of America, the Compliance & Operational Risk Manager executes second-line-of-defense compliance and operational risk oversight for a Front Line Unit, Control Function, and/or third parties. The role ensures that the Global Compliance Enterprise Policy, Operational Risk Management Enterprise Policy, Compliance and Operational Risk Management Program, and related procedures are implemented, and identifies, challenges, escalates, and mitigates risks in a timely manner.

The position provides real-time support to the Global Credit Front-Line Unit on rules applicable to relevant products, markets, and venues, as well as other laws, regulations, and internal policies relevant to the Global Markets business. It works with business personnel and internal partners, including Legal, Operations, Financial Crimes Compliance, and Regulatory Reporting, and contributes to regulatory responses, investigations, business reviews, monitoring, testing, training, and policy updates.

The role is based at One Bryant Park in New York, New York. It is a first-shift position with 40 hours per week. The annualized salary range is $97,200 to $230,000, with offers based on experience, education, and skill set. The position is eligible for an annual discretionary incentive plan and benefits, including paid time off and employee support resources.

Requirements

• Minimum of seven years of relevant experience.
• May require regulatory examination, registration, or certification, depending on jurisdiction and role.
• Strong knowledge of fixed income markets, including swaps and derivatives products and services.
• Excellent interpersonal and communication skills, including strong verbal and written communication and confident presentation skills.
• High attention to detail, diligence, and conscientiousness.
• Ability to work in a dynamic, fast-paced trading-floor environment.

Nice To Haves

• Bachelor’s degree in a related field.
• Experience in financial services and/or a similarly regulated sector.
• Strong experience dealing with regulator and exchange inquiries and examinations.
• Strong understanding of market misconduct laws, rules, and regulations, and applicable surveillance controls.
• Strong understanding of SEC, FINRA, and CFTC rules and regulations.
• Operational Risk Management experience, preferably with fixed income product knowledge.

Responsibilities

• Assess risks and the effectiveness of Front Line Unit processes and controls to ensure compliance with applicable laws, rules, and regulations; respond to regulatory inquiries, audits, and examinations.
• Provide independent compliance and operational risk oversight of Front Line Unit or Control Function performance and related third-party or vendor relationships in accordance with enterprise policies and programs.
• Identify and escalate problems or issues and drive actions to address root causes of compliance risk issues and operational risk losses.
• Manage inventories of processes, risks, controls, and related metrics for risk appetite and limits, and report violations of compliance or regulatory activities.
• Help develop independent risk management reporting for relevant areas as input to country and regional governance and management routines.
• Analyze and interpret applicable laws, rules, and regulations to provide practical advice to stakeholders and identify and manage risks.
• Review and challenge Front Line Unit or Control Function processes, risks, Single Process Inventory, and Risk and Control Self-Assessments for themes and trends; monitor regulatory changes relevant to areas of coverage.
• Provide real-time support to the Global Credit Front-Line Unit regarding relevant product, market, venue, legal, regulatory, and internal policy requirements applicable to the Global Markets business.
• Develop effective working relationships with Front Line Unit personnel and internal departments, including Legal, Operations, Financial Crimes Compliance, and Regulatory Reporting.
• Assist with responding to and coordinating regulatory inquiries.
• Review and challenge business activities in accordance with the Global Compliance and Operational Risk Program.
• Participate in internal investigations into potential breaches of regulatory or venue requirements or firm policy, as required.
• Participate in department initiatives concerning regulatory and market developments and their impact on the firm’s business and support groups, as required.
• Assist with reviews of new business initiatives, including non-standard transactions.
• Review and assess activity escalated through Enterprise Independent Testing surveillance or directly by the Front Line Unit for potential market misconduct.
• Coordinate with regional Compliance and Operational Risk teams to support consistent approaches and best practices.
• Review and update Compliance and Operational Risk Policies to ensure consistency with global and local regulatory practices.
• Help develop new or update existing Monitoring and Testing items for the Compliance and Operational Risk Program from local and global perspectives.
• Help develop and deliver Compliance and Operational Risk training, both face-to-face and online.
• Keep abreast of regulatory changes and developments.

Benefits

• Benefits eligibility.
• Paid time off.
• Resources and support for employees.
• Eligibility to participate in the annual discretionary incentive plan, with awards based on individual performance and behavior, line-of-business or group performance and contributions, and the company’s overall success.

What This Job Offers

• Job Type: Full-time
• Career Level: Manager
• Education Level: No Education Listed