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Country Compliance and Operational Risk Manager

Toronto, Canada

Job Description:

Bank of America is one of the world's largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk-management products and services. Following the acquisition of Merrill Lynch on January 1, 2009, Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes serving corporations, governments, institutions and individuals around the world.  In Canada, Bank of America has a strong market position on which to continue to build, as well as a clear commitment to the market. 

Description

The Country Compliance and Operational Risk (C&OR) Manager is responsible for ensuring the identification, escalation and timely mitigation of compliance and operational risks in the country in alignment with the Global Compliance Enterprise Policy, the Operational Risk Enterprise Policy (collectively “the Policies”) and the Compliance and Operational Risk Management (“CORM”) Program and Standard Operating Procedures (SOPs). 

Responsibilities

Responsibilities for this role also include ensuring consistent quality of activities, processes and outputs by establishing effective review practices across teams.

The duties of this role will include, but are not limited to the below:

  • Conduct compliance and operational risk assessments in the country and contribute to the risk assessment for the region, incorporating review of external loss events to assess control effectiveness
  • Country Compliance and operational risk reporting, identifying and aggregating compliance and operational risks/issues for the country
  • Identify, collect, validate and record internal loss events and “near misses”. Perform root cause analyses on internal loss events and develop remediation plans to strengthen controls.
  • Identify, review and document relevant external loss events
  • Contribute to Scenario Analyses to provide a forward-looking estimate of hypothetical operational losses
  • Creation of compliance and operational risk training coverage plans to address local needs
  • Compliance and operational risk monitoring occurring in the country
  • Evaluation of internal audit results, regulator identified issues, monitoring & testing (“M&T”) results and advising on remediation required in country
  • Ensuring Compliance and Operational Risk “owned” issues (i.e., Internal Audit, Regulator and Self-Identified issues) are addressed appropriately and timely
  • Contribution to the development of compliance and operational monitoring & testing plans
  • Execute governance and management routines
  • Oversight of changes in local and regional regulation, including advising on those changes and directing the appropriate areas to implement or amend policies and procedures/processes to address change in regulations

Required Skills

  • Bachelors/Undergraduate degree required with  5 to 7 years of related work experience

What Bank of America Merrill Lynch Offers

Bank of America Merrill Lynch embodies a culture that extends from how we think, to how we behave, and to how we measure performance. By achieving excellence - in everything we do, every time we do it - we deliver the full value of Merrill Lynch for our clients, our shareholders and our employees.

Bank of America Merrill Lynch places a high value on talent and on maintaining a culture defined by meritocracy. For these reasons, it is deeply committed to professional development, opportunity and accountability at all levels of the organization.

Bank of America Merrill Lynch is an Equal Opportunity Employer.

Bank of America Merrill Lynch encourages applications from all qualified individuals. Applicants with disabilities may notify us of any accommodations needed to support your participation in the recruitment process. We wish to thank all applicants for their interest and effort in applying. Please be aware that only candidates selected for interviews will be contacted for this position.

Learn more about this role

Full time

JR-20000545

Manages People:

Manager:

Talent Acquisition Contact:

Referral Bonus:

Check out the Toronto office

Located in Canada’s financial capital, we’re connected via the PATH underground network to hotels, shopping and major attractions like the CN Tower and the Hockey Hall of Fame.

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Street Address

Primary Location:
181 BAY ST, Toronto, M5J 2V8