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Vice President, Compliance and Operational Risk Manager (GCIB)

Hong Kong, , Hong Kong;

Job Description:

Your background

  • Bachelor degree holder or equivalent educational experience.
  • Knowledge of rules and regulations relating to Corporate and Investment Banking and Capital Markets preferred
  • Minimum 10 years’ experience working in global investment bank. 
  • Ability to multi-task and independently drive responses to regulatory/exchange compliance issues/queries
  • Solid awareness of controls and governance
  • Self-motivated, a team player and results orientated
  • Ability to work in partnership with business, shared services and other members in Legal and Compliance in the region
  • Outstanding interpersonal and communication skills. 

What you can expect

The Compliance and Operational Risk (C&OR) Manager for Global Corporate and Investment Banking (“GCIB”) is responsible for engaging in activities to provide independent compliance and operational risk oversight of Front Line Unit (“FLU”) and Control Function (“CF”) performance 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). As a member of an FLU or CF C&OR officer team, the C&OR Manager demonstrates and applies business acumen to promote a culture of risk management and the identification, escalation and timely mitigation of compliance and operational risks. This role exercises judgment and influence, and may constructively challenge FLU and CF leaders to support the CORM Program objectives, balancing business strategy with appropriate controls.

What you will do

  • Takes an active leadership role in maintaining and communicating regulatory changes, advising and directing business leaders to ensure that regulatory requirements are addressed in their respective process and controls so that their day-to-day activities operate in a compliant manner.
  • Proactively engages other C&OR officers, Enterprise Areas of Coverage (EAC) roles, and horizontal function roles to provide comprehensive oversight of FLU and CF activities.
  • 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.
  • Conduct compliance and operational risk assessments of FLU and CF, incorporating review of external loss events to assess control effectiveness.
  • Provides independent review and challenge of the FLU/CF’s Risk & Control Self-Assessment (RCSA).
  • Leads the efforts and/or contributes to monitoring and testing coverage plans and related metrics for Front Line Unit (“FLU”) or Control Function (“CF”).
  • Monitor and test the effectiveness of the front line unit and control function compliance and operational risk controls.
  • Identify aggregate, report and escalate compliance and operational risks, issues and control enhancements.
  • Contribute to Scenario Analyses to provide a forward-looking estimate of hypothetical operational losses.
  • Executes and/or provides oversight of governance and management routines.
  • Identify compliance and operational risk training needs, provide subject matter expertise to support development of training curriculum, and inspect FLU/CF.
  • Provides consultation to business leaders in preparations for regulatory exams and audits for FLU/CF and related Enterprise Areas of Coverage.
  • Inspect that commitments made regarding actions in response to Matters Requiring Attention (“MRAs”) and other actions are completed.
  • Escalate regulatory relations concerns to Compliance and Operational Risk Executive.

About Bank of America

Our purpose as a firm is to make financial lives better, through the power of every connection. Across the world, we partner with leading corporate and institutional investors through our offices in more than 35 countries. In the U.S. alone, we serve almost all of the Fortune 500 companies and approximately 67 million consumer and small-business clients. We provide a full suite of financial products and services, from banking and investments to asset and risk management. We cover a broad range of asset classes, making us a global leader in corporate and investment banking, sales and trading.

Connecting Asia Pacific to the world

Our Asia Pacific team is spread across 19 cities in 12 markets. We are focused on connecting Asia to the world and the world to Asia, using our global expertise to ensure success is shared between us, our clients and our communities. Our regional footprint covers 12 currencies, more than a dozen languages and five time zones, placing us firmly among the region’s leading financial services companies.

Job Band:

H4

Shift: 

Hours Per Week:

40

Weekly Schedule:

Referral Bonus Amount:

0

Job Description:

Your background

  • Bachelor degree holder or equivalent educational experience.
  • Knowledge of rules and regulations relating to Corporate and Investment Banking and Capital Markets preferred
  • Minimum 10 years’ experience working in global investment bank. 
  • Ability to multi-task and independently drive responses to regulatory/exchange compliance issues/queries
  • Solid awareness of controls and governance
  • Self-motivated, a team player and results orientated
  • Ability to work in partnership with business, shared services and other members in Legal and Compliance in the region
  • Outstanding interpersonal and communication skills. 

What you can expect

The Compliance and Operational Risk (C&OR) Manager for Global Corporate and Investment Banking (“GCIB”) is responsible for engaging in activities to provide independent compliance and operational risk oversight of Front Line Unit (“FLU”) and Control Function (“CF”) performance 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). As a member of an FLU or CF C&OR officer team, the C&OR Manager demonstrates and applies business acumen to promote a culture of risk management and the identification, escalation and timely mitigation of compliance and operational risks. This role exercises judgment and influence, and may constructively challenge FLU and CF leaders to support the CORM Program objectives, balancing business strategy with appropriate controls.

What you will do

  • Takes an active leadership role in maintaining and communicating regulatory changes, advising and directing business leaders to ensure that regulatory requirements are addressed in their respective process and controls so that their day-to-day activities operate in a compliant manner.
  • Proactively engages other C&OR officers, Enterprise Areas of Coverage (EAC) roles, and horizontal function roles to provide comprehensive oversight of FLU and CF activities.
  • 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.
  • Conduct compliance and operational risk assessments of FLU and CF, incorporating review of external loss events to assess control effectiveness.
  • Provides independent review and challenge of the FLU/CF’s Risk & Control Self-Assessment (RCSA).
  • Leads the efforts and/or contributes to monitoring and testing coverage plans and related metrics for Front Line Unit (“FLU”) or Control Function (“CF”).
  • Monitor and test the effectiveness of the front line unit and control function compliance and operational risk controls.
  • Identify aggregate, report and escalate compliance and operational risks, issues and control enhancements.
  • Contribute to Scenario Analyses to provide a forward-looking estimate of hypothetical operational losses.
  • Executes and/or provides oversight of governance and management routines.
  • Identify compliance and operational risk training needs, provide subject matter expertise to support development of training curriculum, and inspect FLU/CF.
  • Provides consultation to business leaders in preparations for regulatory exams and audits for FLU/CF and related Enterprise Areas of Coverage.
  • Inspect that commitments made regarding actions in response to Matters Requiring Attention (“MRAs”) and other actions are completed.
  • Escalate regulatory relations concerns to Compliance and Operational Risk Executive.

About Bank of America

Our purpose as a firm is to make financial lives better, through the power of every connection. Across the world, we partner with leading corporate and institutional investors through our offices in more than 35 countries. In the U.S. alone, we serve almost all of the Fortune 500 companies and approximately 67 million consumer and small-business clients. We provide a full suite of financial products and services, from banking and investments to asset and risk management. We cover a broad range of asset classes, making us a global leader in corporate and investment banking, sales and trading.

Connecting Asia Pacific to the world

Our Asia Pacific team is spread across 19 cities in 12 markets. We are focused on connecting Asia to the world and the world to Asia, using our global expertise to ensure success is shared between us, our clients and our communities. Our regional footprint covers 12 currencies, more than a dozen languages and five time zones, placing us firmly among the region’s leading financial services companies.

Learn more about this role

Full time

JR-21023339

Band: H4

Manages People:

Manager:

Talent Acquisition Contact:

Mitesh Rathod

Referral Bonus:

0

Street Address

Primary Location:
2 QUEEN'S RD, Hong Kong
Additional Locations: