EAC Compliance and Operational Risk Manager

Bank of America•Fort Worth, TX

About The Position

At Bank of America, this position executes the Global Compliance - Enterprise Policy, the Operational Risk Management - Enterprise Policy, and the Compliance and Operational Risk Management (CORM) Program. The role identifies, escalates, and mitigates risks; engages with Front Line Units and Control Functions (FLU/CF) leaders globally; coordinates with FLU/CF Compliance and Operational Risk Officer teams; and identifies themes, trends, and new or emerging risks. The individual executes or coordinates key program activities across two enterprise areas of coverage, identifying opportunities for synergies and automation. Activities include assessing and advising on regulatory changes, contributing to coverage plans, conducting thematic assessments of issues and operational losses, coordinating quarterly risk assessments, and developing materials for board memos, points of view, executive talking points, and regulator presentations and requests. The role provides independent compliance and operational risk oversight, assesses risks and controls, advises stakeholders on applicable laws and regulations, responds to regulatory inquiries and examinations, and reviews and challenges FLU/CF processes and risk assessments.

Requirements

At least 7 years of experience in Compliance, Risk Management, Business Controls, or a similar role.
Bachelor's degree or equivalent experience in risk management or a related field.
Confident analytical and organizational skills, with attention to detail and accuracy.
Ability to identify, assess, and track regulatory changes and translate requirements into actionable guidance for the first line.
Ability to communicate orally and in writing with business stakeholders at all levels.
Ability to manage multiple priorities in a time-sensitive environment.
Ability to collaborate effectively across multiple teams.
Intellectual curiosity and learning agility.
Strong written and verbal communication skills, including the ability to clearly explain complex regulatory and risk concepts.
Strong interpersonal skills and ability to navigate relationships across first and second lines.
Sound professional judgment, integrity, and confidence in providing constructive challenge.
Critical-thinking ability and ability to provide effective challenge and oversight to the business.

Nice To Haves

Knowledge of compliance and operational risk programs.
International compliance expertise.

Responsibilities

Assess risks and associated controls and their effectiveness, promote compliance with applicable laws, rules, and regulations, and adhere to policies.
Provide independent compliance and operational risk oversight of FLU/CF performance and related third-party or vendor relationships in alignment with enterprise policies and the CORM Program.
Identify and escalate problems or issues and drive action to address root causes of compliance risks and operational risk losses, including opening issues in the centralized issues tool based on risk severity.
Manage inventories of processes, risks, controls, and associated risk appetite and limit metrics, and report violations of compliance or regulatory activities.
Interpret applicable laws, rules, and regulations and provide clear, practical advice to stakeholders.
Monitor regulatory developments, identify applicable changes, maintain a comprehensive regulatory inventory, support communication of changes to FLU/CFs, and ensure policies, standards, procedures, and processes are implemented or amended as required.
Respond to regulatory inquiries, audits, and examinations and identify regulatory training needs to support development of the training curriculum.
Review and challenge FLU/CF processes, the Single Process Inventory, and FLU/CF Risk and Control Self-Assessments in relation to themes and trends.
Execute or coordinate program activities across two enterprise coverage areas and identify and implement synergies and automation opportunities.
Assess and advise on regulatory change impacts, contribute to coverage plans, conduct thematic assessments of issues and operational losses, and coordinate quarterly risk assessments.
Develop content for board memos, points of view, executive talking points, and regulator presentations and requests.