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Compliance & Operational Risk Manager

London, , United Kingdom

Job Description:

Job Title: Compliance & Operational Risk Manager

LOB: Global Risk / EMEA Compliance & Operational Risk

Corporate Title: Vice President

Location: London

The EMEA Compliance & Operational Risk business currently has a fantastic opportunity available for a Compliance and Operational Risk Manager to join the London team. The Compliance & Operational Risk Manager is primarily responsible, with others, for the provision of Front Line Unit Compliance and Operational Risk services located within the London based entities, for the following Equities lines of business:

  • Execution Services

  • Client Solutions

  • Synthetic and Stock Lending

  • Asset Management Services

  • Equity Management

Individuals are expected to be able to develop professional relationships with the management of the relevant business lines and desk staff, with the objective of each member being able to provide carefully considered real-time advice to the Equities business in pressurised situations which can often require thorough debate and guidance to find solutions.

The successful candidate will be a source of regulatory expertise and guidance to the business and will be involved in many aspects from advisory, training, dealing with investigations, ensuring market abuse risks are managed, advising on regulatory impact of new products and liaising with compliance in other global locations etc.

Overview of the Role:

  • Risk Assessments - Management and execution of the Compliance and Operational Risk, Risk Assessment process for the Equities Business. Perform and conduct targeted risk assessments on emerging risks, or perform deeper dives into processes which may require reviewing in more detail

  • Risk Challenge – Challenge the EMEA Equities Sales and Trading teams on identified and potential Compliance and Operational Risks. Review and Challenge the Risk and Control Self Assessments to identify risk and control issues and drive risk mitigation action

  • Operational Loss Events - Ensuring that operational loss events are appropriately reported by the business, and that these are reviewed and challenged to ensure appropriate mitigation actions are captured

  • Scenario Analysis – Responsible for agreeing the yearly operational risk scenarios for the EMEA Equities business with other stakeholders and working with those stakeholders to create the scenarios to drive the review of the control environment and determining the potential capital required for ICAAP

  • Participation in Governance Forums and Management Routines – Developing effective working relationships with the Equities Management team and other departments in the region including GCIB (including Corporate Broking and Equity Capital Markets) and Research to manage impact on day to day Equity business. The role also involves attending and participating in governance forums for each of the Equities business groups and providing day to day oversight, advice and challenge in relation to these businesses, including providing clarity on the Firm’s regulatory and exchange obligations.

  • Regulatory and Markets Interaction - The role requires interaction with UK, European and US regulators as well as Exchanges. Both working with the business to prepare for regulatory visits and reviews, and also to answer individually to the regulator and/or the Exchanges on activities on the Equities markets and on Compliance and Operational Risk interactions with the Equities business and on the Firm’s policies and processes

  • Regulatory Consultations and Developments - Participate in regulatory consultations so that BofA’s view is heard and considered, e.g. ESMA/FCA papers as well as working with trade associations as necessary. Be able to provide regulatory requirements and interpretation of the Firms view for the business to be able to implement

  • Global Interaction - The role requires interaction with Compliance, Risk and business partners based in the US and Asia Pacific, as well as Country Compliance officers within Europe, given that multiple policies and processes related to the Equities business are global in nature

  • Breach detection, review and action - Where breaches occur within the business it is crucial that these breaches are reviewed and dealt with consistently. The role encompasses reviewing and issuing breach notifications, participating in the Compliance Breaches Forum and where necessary also escalating individual breach cases and themes to allow for appropriate ongoing business supervision and review.

  • Monitoring and Testing – Developing and executing monitoring and testing routines of the Equities businesses adherence to laws, rules and regulations. Identifying high risk processes that require monitoring to assess the effectiveness of these processes. Where issues are identified ensuring these are escalated to stakeholders and following these through to acceptance and resolution. Be able to conduct reviews of the monitoring and testing parameters to ensure they have the appropriate thresholds as the business evolves

  • Training and supervision - It is essential to ensure that the Equities businesses are provided with an adequate level of Compliance and Operational Risk support and training, which the Equities Compliance and Operational Risk team provide both in person and online. The role requires working with business and supervision to ensure that themes such as Conduct Risk are being adequately addressed

Bank of America

Every day, across the globe, our employees bring a commitment to our purpose and to driving responsible growth by living our values: deliver together, act responsibly, realize the power of our people and trust the team. A key aspect of driving responsible growth is doing so in a sustainable manner, a critical pillar of which is being a great place to work for our teammates.

In line with these values, in EMEA we have 9 Employee Networks, a wide range of Sports & Social clubs, and other development and networking opportunities so that you can enjoy a range of experiences and connect with colleagues across the bank. We also offer exclusive discounts to some of the most iconic cultural experiences for you to enjoy in your spare time outside of work. Learn more about our benefits here.

Good conduct and sound judgment is crucial to our long term success. It’s important that all employees in the organisation understand the expected standards of conduct and how we manage conduct risk. Individual accountability and an ownership mind-set are the cornerstones of our Code of Conduct and are at the heart of managing risk well.

We are an equal opportunities employer, and ensure that no applicant is subject to less favourable treatment on the grounds of gender, gender identity, marital status, race, colour, nationality, ethnic or national origins, age, sexual orientation, socio-economic background, responsibilities for dependants, physical or mental disability. The Bank selects candidates for interview based on their skills, qualifications and experience.

We strive to ensure that our recruitment processes are accessible for all candidates and encourage any candidates to tell us about any adjustment requirements. As part of our standard hiring process to manage risk, please note background screening checks will be conducted on all hires before commencing employment.

Job Band:

H4

Shift: 

Hours Per Week:

35

Weekly Schedule:

Referral Bonus Amount:

0

Job Description:

Job Title: Compliance & Operational Risk Manager

LOB: Global Risk / EMEA Compliance & Operational Risk

Corporate Title: Vice President

Location: London

The EMEA Compliance & Operational Risk business currently has a fantastic opportunity available for a Compliance and Operational Risk Manager to join the London team. The Compliance & Operational Risk Manager is primarily responsible, with others, for the provision of Front Line Unit Compliance and Operational Risk services located within the London based entities, for the following Equities lines of business:

  • Execution Services

  • Client Solutions

  • Synthetic and Stock Lending

  • Asset Management Services

  • Equity Management

Individuals are expected to be able to develop professional relationships with the management of the relevant business lines and desk staff, with the objective of each member being able to provide carefully considered real-time advice to the Equities business in pressurised situations which can often require thorough debate and guidance to find solutions.

The successful candidate will be a source of regulatory expertise and guidance to the business and will be involved in many aspects from advisory, training, dealing with investigations, ensuring market abuse risks are managed, advising on regulatory impact of new products and liaising with compliance in other global locations etc.

Overview of the Role:

  • Risk Assessments - Management and execution of the Compliance and Operational Risk, Risk Assessment process for the Equities Business. Perform and conduct targeted risk assessments on emerging risks, or perform deeper dives into processes which may require reviewing in more detail

  • Risk Challenge – Challenge the EMEA Equities Sales and Trading teams on identified and potential Compliance and Operational Risks. Review and Challenge the Risk and Control Self Assessments to identify risk and control issues and drive risk mitigation action

  • Operational Loss Events - Ensuring that operational loss events are appropriately reported by the business, and that these are reviewed and challenged to ensure appropriate mitigation actions are captured

  • Scenario Analysis – Responsible for agreeing the yearly operational risk scenarios for the EMEA Equities business with other stakeholders and working with those stakeholders to create the scenarios to drive the review of the control environment and determining the potential capital required for ICAAP

  • Participation in Governance Forums and Management Routines – Developing effective working relationships with the Equities Management team and other departments in the region including GCIB (including Corporate Broking and Equity Capital Markets) and Research to manage impact on day to day Equity business. The role also involves attending and participating in governance forums for each of the Equities business groups and providing day to day oversight, advice and challenge in relation to these businesses, including providing clarity on the Firm’s regulatory and exchange obligations.

  • Regulatory and Markets Interaction - The role requires interaction with UK, European and US regulators as well as Exchanges. Both working with the business to prepare for regulatory visits and reviews, and also to answer individually to the regulator and/or the Exchanges on activities on the Equities markets and on Compliance and Operational Risk interactions with the Equities business and on the Firm’s policies and processes

  • Regulatory Consultations and Developments - Participate in regulatory consultations so that BofA’s view is heard and considered, e.g. ESMA/FCA papers as well as working with trade associations as necessary. Be able to provide regulatory requirements and interpretation of the Firms view for the business to be able to implement

  • Global Interaction - The role requires interaction with Compliance, Risk and business partners based in the US and Asia Pacific, as well as Country Compliance officers within Europe, given that multiple policies and processes related to the Equities business are global in nature

  • Breach detection, review and action - Where breaches occur within the business it is crucial that these breaches are reviewed and dealt with consistently. The role encompasses reviewing and issuing breach notifications, participating in the Compliance Breaches Forum and where necessary also escalating individual breach cases and themes to allow for appropriate ongoing business supervision and review.

  • Monitoring and Testing – Developing and executing monitoring and testing routines of the Equities businesses adherence to laws, rules and regulations. Identifying high risk processes that require monitoring to assess the effectiveness of these processes. Where issues are identified ensuring these are escalated to stakeholders and following these through to acceptance and resolution. Be able to conduct reviews of the monitoring and testing parameters to ensure they have the appropriate thresholds as the business evolves

  • Training and supervision - It is essential to ensure that the Equities businesses are provided with an adequate level of Compliance and Operational Risk support and training, which the Equities Compliance and Operational Risk team provide both in person and online. The role requires working with business and supervision to ensure that themes such as Conduct Risk are being adequately addressed

Bank of America

Every day, across the globe, our employees bring a commitment to our purpose and to driving responsible growth by living our values: deliver together, act responsibly, realize the power of our people and trust the team. A key aspect of driving responsible growth is doing so in a sustainable manner, a critical pillar of which is being a great place to work for our teammates.

In line with these values, in EMEA we have 9 Employee Networks, a wide range of Sports & Social clubs, and other development and networking opportunities so that you can enjoy a range of experiences and connect with colleagues across the bank. We also offer exclusive discounts to some of the most iconic cultural experiences for you to enjoy in your spare time outside of work. Learn more about our benefits here.

Good conduct and sound judgment is crucial to our long term success. It’s important that all employees in the organisation understand the expected standards of conduct and how we manage conduct risk. Individual accountability and an ownership mind-set are the cornerstones of our Code of Conduct and are at the heart of managing risk well.

We are an equal opportunities employer, and ensure that no applicant is subject to less favourable treatment on the grounds of gender, gender identity, marital status, race, colour, nationality, ethnic or national origins, age, sexual orientation, socio-economic background, responsibilities for dependants, physical or mental disability. The Bank selects candidates for interview based on their skills, qualifications and experience.

We strive to ensure that our recruitment processes are accessible for all candidates and encourage any candidates to tell us about any adjustment requirements. As part of our standard hiring process to manage risk, please note background screening checks will be conducted on all hires before commencing employment.

Learn more about this role

Full time

JR-21027670

Band: H4

Manages People:

Manager:

Talent Acquisition Contact:

Adrian Michal Zuber

Referral Bonus:

0

Street Address

Primary Location:
2 King Edward St, London, EC1A 1HQ