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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

Canada C&OR is part of a global independent, centralized governance and control function with responsibility for proactively managing compliance and operational risk, including establishing program standards and policies and executing testing and monitoring.

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).

The Compliance & Operational Risk Department of Bank of America is seeking a highly motivated compliance officer to join its Canada compliance team based in Toronto. The position will report to the Chief Compliance Officer for Canada.

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

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

  • Contributing to the development, implementation and monitoring of compliance and operational risk policies and procedures across a broad range of businesses including Corporate and Commercial Banking, Investment Banking, Treasury Services, Banknotes, Merchant Services, Leasing and Global Markets

  • Applying knowledge and expertise to influence business managers and peers to ensure enforcement of compliance and operational risk programs, balancing business strategy with appropriate risk management controls

  • 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

  • Communicating and interacting with regulatory agencies (specifically OSFI, IIROC and the OSC) internal and external counsel and other internal risk management groups

  • Contributing to the development of compliance and operational monitoring & testing plans

  • Conducting compliance and operational risk assessments in the country and contributing to the risk assessment for the region, incorporating review of external loss events to assess control effectiveness

  • Contributing to Scenario Analyses to provide a forward-looking estimate of hypothetical regulatory exposure and operational losses

  • Ensuring Compliance and Operational Risk “owned” issues (i.e., Internal Audit, Regulator and Self-Identified issues) are addressed appropriately and timely

  • Participating in global compliance projects

Qualifications

  • Law degree or equivalent

  • Minimum of 5 years experience in the banking/securities department of a law firm or similar experience in a financial institution’s legal or compliance departments

  • French language skills would be an asset

What Bank of America Offers

Bank of America 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 Bank of America for our clients, our shareholders and our employees.

Bank of America 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 is an Equal Opportunity Employer.

Bank of America 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.

Job Band:

H5

Shift: 

Hours Per Week:

37.5

Weekly Schedule:

Referral Bonus Amount:

0

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

Canada C&OR is part of a global independent, centralized governance and control function with responsibility for proactively managing compliance and operational risk, including establishing program standards and policies and executing testing and monitoring.

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).

The Compliance & Operational Risk Department of Bank of America is seeking a highly motivated compliance officer to join its Canada compliance team based in Toronto. The position will report to the Chief Compliance Officer for Canada.

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

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

  • Contributing to the development, implementation and monitoring of compliance and operational risk policies and procedures across a broad range of businesses including Corporate and Commercial Banking, Investment Banking, Treasury Services, Banknotes, Merchant Services, Leasing and Global Markets

  • Applying knowledge and expertise to influence business managers and peers to ensure enforcement of compliance and operational risk programs, balancing business strategy with appropriate risk management controls

  • 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

  • Communicating and interacting with regulatory agencies (specifically OSFI, IIROC and the OSC) internal and external counsel and other internal risk management groups

  • Contributing to the development of compliance and operational monitoring & testing plans

  • Conducting compliance and operational risk assessments in the country and contributing to the risk assessment for the region, incorporating review of external loss events to assess control effectiveness

  • Contributing to Scenario Analyses to provide a forward-looking estimate of hypothetical regulatory exposure and operational losses

  • Ensuring Compliance and Operational Risk “owned” issues (i.e., Internal Audit, Regulator and Self-Identified issues) are addressed appropriately and timely

  • Participating in global compliance projects

Qualifications

  • Law degree or equivalent

  • Minimum of 5 years experience in the banking/securities department of a law firm or similar experience in a financial institution’s legal or compliance departments

  • French language skills would be an asset

What Bank of America Offers

Bank of America 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 Bank of America for our clients, our shareholders and our employees.

Bank of America 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 is an Equal Opportunity Employer.

Bank of America 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-21038933

Band: H5

Manages People:

Manager:

Talent Acquisition Contact:

Birkan Casper

Referral Bonus:

0

Street Address

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