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Compliance / Operational Risk Specialist

Charlotte, North Carolina;

Job Description:

The Compliance and Operational Risk (“C&OR”) Specialist assists the C&OR officer team in activities to contribute to the independent compliance and operational risk oversight of Front Line Unit or Control Function (“FLU/CF”) performance and any related third party/vendor relationships in alignment with the Global Compliance -- Enterprise Policy, the Operational Risk Management -- Enterprise Policy (collectively “the Policies”) and the Compliance and Operational Risk Management (“CORM”) Program and Standard Operating Procedures (SOPs).

The C&OR Specialist assists in engaging other C&OR officers, including horizontal coverage owners and Enterprise Areas of Coverage (“EAC”), to provide comprehensive oversight of FLU/CF activities. This role assists in developing and maintaining a global coverage plan which defines the scope and risk-based focus of the second line’s risk management activities. The C&OR Specialist assists in preparing materials for C&OR regulatory exams/audits/inquiries and may assist with preparation for FLU/CF regulatory exams/audits/inquiries.

The C&OR Specialist is accountable for assisting the C&OR Team in the proactive identification, escalation and timely mitigation of compliance and operational risks through the execution of some or all of the following activities:

  • Assists in the development of independent risk management reporting for respective area(s) of coverage as input into governance and management routines
  • Contributes to the oversight of FLU/CF training which may include content development and/or tracking and communication of employee completion rates
  • Assists with the development and maintenance of C&OR owned policies and standards and/or the oversight of FLU/CF-owned policies, standards and procedures to ensure regulatory and operational risk requirements are appropriately addressed, inclusive of conduct risk as applicable
  • Monitors the regulatory environment to identify regulatory changes applicable to area(s) of coverage and maintains a comprehensive regulatory inventory; may support communication of regulatory changes to the FLU/CF and ensuring that policies, standards, procedures and/or processes are appropriately implemented or amended to address regulatory requirements
  • Assists in identifying, aggregating, reporting, escalating, inspecting and challenging remediation plans, and performing thematic analysis on FLU/CF-owned issues and control enhancements
  • Assists in remediating C&OR “owned” issues and control enhancements
  • Contributes to risk coverage plan development, executes independent risk monitoring, testing, and risk assessments, communicates results
  • Reviews and challenges the FLU/CF process, risk, control (PRC) inventory and FLU/CF Risk & Control Self-Assessment (RCSA)
  • Supports the review and challenge of internal and external operational loss events, including development of remediation plans to strengthen controls
  • Assists with the development of risk metrics, monitors related performance and breach remediation

Required Skills: Minimum Years Business & Functional Experience: 5 Years Functional Experience
Degree Required: Bachelor’s Degree

Specific LOB/segment/coverage area of this role: Data Management
The Compliance and Ops Risk Manager is responsible for engaging in activities to contribute to the independent risk oversight of Chief Data Officer (CDO) program performance in alignment with the Risk Management Program. As a member of a GTO Compliance and Operational Risk team, the Compliance and Ops Risk specialist demonstrates and applies technology expertise in conjunction with risk acumen to promote a culture of compliance and the identification, escalation and timely mitigation of compliance and operational risks. This role exercises judgment and influence, and may constructively challenge CDO leadership to support the Global Risk program objectives, balancing business strategy with appropriate controls.

  • Assist the Compliance Executive 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
  • Engage other compliance officers and horizontal function roles to provide oversight of data management activities
  • Engage in review and challenge of critical business services across dimensions of reliability set by CDO program
  • Provide oversight of CDO program strategic and execution health, program governance, and funding, as well as escalate risks across various program workstreams
  • Conduct targeted risk assessments of the CDO program
  • Contribute to monitoring and testing coverage plans and related metrics for CDO program
  • Monitor and test the effectiveness of CDO control environment
  • Identify aggregate, report and escalate risks, issues and control enhancements
  • Assist business leaders in preparations for regulatory exams and audits for CDO

Required

  • 5+ years in Technology, Data Management, Risk Management, or Audit
  • Understanding of IT or Operations principles and controls
  • Understanding of risk management responsibilities (risk assessments, monitoring, testing, etc.)
  • Understanding of data quality controls and metrics
  • Advanced knowledge in the use of data analytic tools (Excel, Access, Tableau etc..)

Prior experience with Bank of America's Third Party program, ITIL Framework, BCM ITSM Remedy, Incident and Problem management framework and/or Technology organization is desired, but not required.

Job Band:

H5

Shift: 

1st shift (United States of America)

Hours Per Week:

40

Weekly Schedule:

Referral Bonus Amount:

0

Job Description:

Generally, COR Risk Specialists will be responsible for developing independent compliance and operational risk oversight of Front Line Unit or Control Function (FLU/CF) performance and any related third party/vendor relationships. Additionally, COR Specialists assist in engaging other C&OR officers, including horizontal coverage owners and Enterprise Areas of Coverage (“EAC”), to provide comprehensive oversight of FLU/CF activities. This role assists in developing and maintaining a global coverage plan which defines the scope and risk-based focus of the second line’s risk management activities. The C&OR Specialist assists in preparing materials for C&OR regulatory exams/audits/inquiries and may assist with preparation for FLU/CF regulatory exams/audits/inquiries. The C&OR Specialist is accountable for assisting the C&OR Team in the proactive identification, escalation and timely mitigation of compliance and operational risks through the execution of some or all of the following activities:

  • Assists in the development of independent risk management reporting for respective area(s) of coverage as input into governance and management routines
  • Contributes to the oversight of FLU/CF training which may include content development and/or tracking and communication of employee completion rates
  • Assists with the development and maintenance of C&OR owned policies and standards and/or the oversight of FLU/CF-owned policies, standards and procedures to ensure regulatory and operational risk requirements are appropriately addressed, inclusive of conduct risk as applicable
  • Monitors the regulatory environment to identify regulatory changes applicable to area(s) of coverage and maintains a comprehensive regulatory inventory; may support communication of regulatory changes to the FLU/CF and ensuring that policies, standards, procedures and/or processes are appropriately implemented or amended to address regulatory requirements
  • Assists in identifying, aggregating, reporting, escalating, inspecting and challenging remediation plans, and performing thematic analysis on FLU/CF-owned issues and control enhancements
  • Assists in remediating C&OR “owned” issues and control enhancements
  • Contributes to risk coverage plan development, executes independent risk monitoring, testing, and risk assessments, communicates results
  • Reviews and challenges the FLU/CF process, risk, control (PRC) inventory and FLU/CF Risk & Control Self-Assessment (RCSA)
  • Supports the review and challenge of internal and external operational loss events, including development of remediation plans to strengthen controls
  • Assists with the development of risk metrics, monitors related performance and breach remediation

Required Skills:

Minimum Years Business & Functional Experience: 5 Years Functional Experience

  • Degree Required: Bachelor’s Degree
  • Specific LOB/segment/coverage area of this role: Data Management
  • The Compliance and Ops Risk Manager is responsible for engaging in activities to contribute to the independent risk oversight of Chief Data Officer (CDO) program performance in alignment with the Risk Management Program. As a member of a GTO Compliance and Operational Risk team, the Compliance and Ops Risk specialist demonstrates and applies technology expertise in conjunction with risk acumen to promote a culture of compliance and the identification, escalation and timely mitigation of compliance and operational risks. This role exercises judgment and influence, and may constructively challenge CDO leadership to support the Global Risk program objectives, balancing business strategy with appropriate controls.
  • Assist the Compliance Executive 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
  • Engage other compliance officers and horizontal function roles to provide oversight of data management activities
  • Engage in review and challenge of critical business services across dimensions of reliability set by CDO program
  • Provide oversight of CDO program strategic and execution health, program governance, and funding, as well as escalate risks across various program workstreams
  • Conduct targeted risk assessments of the CDO program
  • Contribute to monitoring and testing coverage plans and related metrics for CDO program
  • Monitor and test the effectiveness of CDO control environment
  • Identify aggregate, report and escalate risks, issues and control enhancements
  • Assist business leaders in preparations for regulatory exams and audits for CDO

Required

  • 5+ years in Technology, Data Management, Risk Management, or Audit
  • Understanding of IT or Operations principles and controls
  • Understanding of risk management responsibilities (risk assessments, monitoring, testing, etc.)
  • Understanding of data quality controls and metrics
  • Advanced knowledge in the use of data analytic tools (Excel, Access, Tableau etc..)
  • Prior experience with Bank of America's Third Party program, ITIL Framework, BCM ITSM Remedy, Incident and Problem management framework and/or Technology organization is desired, but not required.

Generally, COR Risk Specialists will be responsible for developing independent compliance and operational risk oversight of Front Line Unit or Control Function (FLU/CF) performance and any related third party/vendor relationships. Additionally, COR Specialists assist in engaging other C&OR officers, including horizontal coverage owners and Enterprise Areas of Coverage (“EAC”), to provide comprehensive oversight of FLU/CF activities. This role assists in developing and maintaining a global coverage plan which defines the scope and risk-based focus of the second line’s risk management activities. The C&OR Specialist assists in preparing materials for C&OR regulatory exams/audits/inquiries and may assist with preparation for FLU/CF regulatory exams/audits/inquiries. The C&OR Specialist is accountable for assisting the C&OR Team in the proactive identification, escalation and timely mitigation of compliance and operational risks through the execution of some or all of the following activities:

  • Assists in the development of independent risk management reporting for respective area(s) of coverage as input into governance and management routines
  • Contributes to the oversight of FLU/CF training which may include content development and/or tracking and communication of employee completion rates
  • Assists with the development and maintenance of C&OR owned policies and standards and/or the oversight of FLU/CF-owned policies, standards and procedures to ensure regulatory and operational risk requirements are appropriately addressed, inclusive of conduct risk as applicable
  • Monitors the regulatory environment to identify regulatory changes applicable to area(s) of coverage and maintains a comprehensive regulatory inventory; may support communication of regulatory changes to the FLU/CF and ensuring that policies, standards, procedures and/or processes are appropriately implemented or amended to address regulatory requirements
  • Assists in identifying, aggregating, reporting, escalating, inspecting and challenging remediation plans, and performing thematic analysis on FLU/CF-owned issues and control enhancements
  • Assists in remediating C&OR “owned” issues and control enhancements
  • Contributes to risk coverage plan development, executes independent risk monitoring, testing, and risk assessments, communicates results
  • Reviews and challenges the FLU/CF process, risk, control (PRC) inventory and FLU/CF Risk & Control Self-Assessment (RCSA)
  • Supports the review and challenge of internal and external operational loss events, including development of remediation plans to strengthen controls
  • Assists with the development of risk metrics, monitors related performance and breach remediation

Required Skills:

Minimum Years Business & Functional Experience: 5 Years Functional Experience

  • Degree Required: Bachelor’s Degree
  • Specific LOB/segment/coverage area of this role: Data Management
  • The Compliance and Ops Risk Manager is responsible for engaging in activities to contribute to the independent risk oversight of Chief Data Officer (CDO) program performance in alignment with the Risk Management Program. As a member of a GTO Compliance and Operational Risk team, the Compliance and Ops Risk specialist demonstrates and applies technology expertise in conjunction with risk acumen to promote a culture of compliance and the identification, escalation and timely mitigation of compliance and operational risks. This role exercises judgment and influence, and may constructively challenge CDO leadership to support the Global Risk program objectives, balancing business strategy with appropriate controls.
  • Assist the Compliance Executive 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
  • Engage other compliance officers and horizontal function roles to provide oversight of data management activities
  • Engage in review and challenge of critical business services across dimensions of reliability set by CDO program
  • Provide oversight of CDO program strategic and execution health, program governance, and funding, as well as escalate risks across various program workstreams
  • Conduct targeted risk assessments of the CDO program
  • Contribute to monitoring and testing coverage plans and related metrics for CDO program
  • Monitor and test the effectiveness of CDO control environment
  • Identify aggregate, report and escalate risks, issues and control enhancements
  • Assist business leaders in preparations for regulatory exams and audits for CDO

Required

  • 5+ years in Technology, Data Management, Risk Management, or Audit
  • Understanding of IT or Operations principles and controls
  • Understanding of risk management responsibilities (risk assessments, monitoring, testing, etc.)
  • Understanding of data quality controls and metrics
  • Advanced knowledge in the use of data analytic tools (Excel, Access, Tableau etc..)
  • Prior experience with Bank of America's Third Party program, ITIL Framework, BCM ITSM Remedy, Incident and Problem management framework and/or Technology organization is desired, but not required.

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Learn more about this role

Full time

JR-21034518

Band: H5

Manages People: No

Travel: No

Manager:

Talent Acquisition Contact:

James Henry

Referral Bonus:

0