girl looking into her desktop
Back to search results

Equities Compliance and Operational Risk - Cross Product Initiatives

New York, New York

Job Description:

The Compliance and Operational Risk (C&OR) Manager is responsible for engaging in activities to provide 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). As a member of an FLU or CF C&OR officer team, the C&OR Manager is accountable for proactive identification, management and escalation of compliance and operational risks through the execution of some or all of the below identified activities. 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.

The C&OR Manager proactively engages with other C&OR officers, including horizontal coverage owners and Enterprise Areas of Coverage (“EAC”), to provide comprehensive oversight of FLU/CF activities. This role develops and maintains a global coverage plan which defines the scope and risk-based focus of the second line’s risk management activities. The C&OR Manager prepares materials for C&OR regulatory exams/audits/inquiries and may provide consultation to business leaders in preparation for FLU/CF regulatory exams/audits/inquiries.

The C&OR Manager plans, drives and reviews team deliverables to support consistent quality of activities, processes and outputs. This role may contribute as a manager responsible for providing leadership direction to attract, assess, develop, motivate and retain a team, or may act as an individual contributor.

The C&OR Manager contributes to the requirements of the CORM Program requirements including, but not limited to the following activities:

  • Produces and/or oversees the development of independent risk management reporting for respective area(s) of coverage as input governance and management routines
  • Provides subject matter expertise to assist the FLU/CF in establishing an annual learning plan, may be accountable for developing and delivering training content
  • Develops and maintains C&OR-owned policies and standards and/or provides 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, advises business leaders on those changes, directs the appropriate areas to implement or amend policies, standards, procedures and/or processes to address regulatory requirements, and challenges the implementation plan as needed; maintains a comprehensive regulatory inventory
  • Identifies, aggregates, reports, escalates, inspects and challenges remediation plans, and performs thematic analysis on FLU/CF-owned issues and control enhancements
  • Ensures C&OR “owned” issues and control enhancements are identified and addressed appropriately and timely
  • Contributes to or leads development of risk coverage plans, executes and / or oversees execution of 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)
  • Reviews and challenges internal and external operational loss events, including development of remediation plans to strengthen controls, and approves where appropriate
  • Participates in Scenario Analysis activities for coverage areas and challenges as appropriate
  • Ensures metrics are designed to measure key risks and control performance, monitors and reports on metric performance and breach remediation

Required Skills: Minimum Years of Business & Functional Experience: 7 Years
Degree Required: Bachelor’s Degree; May require regulatory examination/registration or certification depending on jurisdiction and role

Desired Skills: Financial Services or similarly regulated sector

The Equities Compliance and Operational Risk Manager contributes to the independent compliance and operational risk oversight of the Equities business 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 the Equities COR team, this role applies business acumen to promote a culture of risk management and the identification, escalation and timely mitigation of compliance and operational risks by assisting the Equities COR team. Responsibilities will include:

  • Draft and prepare Equities COR reporting and presentations for the Equities business, senior management, and regulators, including the OCC, FRB, FDIC, SEC, and FINRA.
  • Draft and prepare updates for governance forums and committees, including preparing updates for the Global Markets Risk Committee, Chief Risk Officer (CRO) Memorandums, BANA Global Markets Governance Forum, Equities Business Controls Forum, and other legal entity and Equities business routines.
  • Prepare background information, materials, and lead prep sessions with senior management in advance of regulatory meetings and other routines, as necessary.
  • Attend and participate in meetings with the Equities business and controls partners, as necessary.
  • Coordinate and track deliverables and responses for upcoming regulatory deadlines, including MRA and MRIA deliverables. Coordinate and lead review sessions with Equities COR and Equities businesses, as necessary.
  • Review new and amended laws, rules and regulations and assist Equities COR team with determining applicability to Equities businesses and monitoring implementation to meet relevant compliance deadlines. Attend and participate in regulatory reform meetings and other routines with the Equities business and control partners, as necessary.
  • Assist with Equities COR cross-product regulatory initiatives, including reviewing and drafting advisories, policies, and procedures to ensure they are appropriately updated and issued timely. Attend and participate in the GBAM COR Policy Committee.
  • Assist with coordinating in-person training courses, including the Annual Compliance Meeting sessions, for the Equities business.
  • Coordinate and lead the Equities COR Conduct and Conflicts routines with Equities COR and other key stakeholders, as necessary.
  • Manage the Equities COR “Lessons Learned” and “Emerging Risks” routines and track and report on items for senior management.
  • Assist Equities COR with other deliverables, including issues management, training, conflicts, horizon risk, and conduct-related matters. 
  • Manage ad hoc strategic projects and initiatives and provide project management support for Equities COR.

Required:

  • B4;
  • Bachelor’s degree;
  • 8-10+ years of general broker-dealer legal/regulatory/compliance experience;
  • Ability to work effectively in a global environment, leveraging and sharing best practices and insights of Legal and Compliance colleagues globally;
  • Strong strategic, problem solving, and analytical skills;
  • People skills, leadership qualities, and communication skills;
  • Motivation, diligence, and excellent writing skills;
  • Excellent organizational skills;
  • Attention to detail;
  • Ability to work on multiple projects in a fast paced environment;
  • Legal degree a plus but not required; and
  • Regulatory experience a plus but not required.

Job Band:

H4

Shift: 

1st shift (United States of America)

Hours Per Week:

40

Weekly Schedule:

Referral Bonus Amount:

0

Job Description:

The Compliance and Operational Risk (C&OR) Manager is responsible for engaging in activities to provide 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). As a member of an FLU or CF C&OR officer team, the C&OR Manager is accountable for proactive identification, management and escalation of compliance and operational risks through the execution of some or all of the below identified activities. 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.

The C&OR Manager proactively engages with other C&OR officers, including horizontal coverage owners and Enterprise Areas of Coverage (“EAC”), to provide comprehensive oversight of FLU/CF activities. This role develops and maintains a global coverage plan which defines the scope and risk-based focus of the second line’s risk management activities. The C&OR Manager prepares materials for C&OR regulatory exams/audits/inquiries and may provide consultation to business leaders in preparation for FLU/CF regulatory exams/audits/inquiries.

The C&OR Manager plans, drives and reviews team deliverables to support consistent quality of activities, processes and outputs. This role may contribute as a manager responsible for providing leadership direction to attract, assess, develop, motivate and retain a team, or may act as an individual contributor.

The C&OR Manager contributes to the requirements of the CORM Program requirements including, but not limited to the following activities:

  • Produces and/or oversees the development of independent risk management reporting for respective area(s) of coverage as input governance and management routines
  • Provides subject matter expertise to assist the FLU/CF in establishing an annual learning plan, may be accountable for developing and delivering training content
  • Develops and maintains C&OR-owned policies and standards and/or provides 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, advises business leaders on those changes, directs the appropriate areas to implement or amend policies, standards, procedures and/or processes to address regulatory requirements, and challenges the implementation plan as needed; maintains a comprehensive regulatory inventory
  • Identifies, aggregates, reports, escalates, inspects and challenges remediation plans, and performs thematic analysis on FLU/CF-owned issues and control enhancements
  • Ensures C&OR “owned” issues and control enhancements are identified and addressed appropriately and timely
  • Contributes to or leads development of risk coverage plans, executes and / or oversees execution of 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)
  • Reviews and challenges internal and external operational loss events, including development of remediation plans to strengthen controls, and approves where appropriate
  • Participates in Scenario Analysis activities for coverage areas and challenges as appropriate
  • Ensures metrics are designed to measure key risks and control performance, monitors and reports on metric performance and breach remediation

Required Skills: Minimum Years of Business & Functional Experience: 7 Years
Degree Required: Bachelor’s Degree; May require regulatory examination/registration or certification depending on jurisdiction and role

Desired Skills: Financial Services or similarly regulated sector

The Equities Compliance and Operational Risk Manager contributes to the independent compliance and operational risk oversight of the Equities business 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 the Equities COR team, this role applies business acumen to promote a culture of risk management and the identification, escalation and timely mitigation of compliance and operational risks by assisting the Equities COR team. Responsibilities will include:

  • Draft and prepare Equities COR reporting and presentations for the Equities business, senior management, and regulators, including the OCC, FRB, FDIC, SEC, and FINRA.
  • Draft and prepare updates for governance forums and committees, including preparing updates for the Global Markets Risk Committee, Chief Risk Officer (CRO) Memorandums, BANA Global Markets Governance Forum, Equities Business Controls Forum, and other legal entity and Equities business routines.
  • Prepare background information, materials, and lead prep sessions with senior management in advance of regulatory meetings and other routines, as necessary.
  • Attend and participate in meetings with the Equities business and controls partners, as necessary.
  • Coordinate and track deliverables and responses for upcoming regulatory deadlines, including MRA and MRIA deliverables. Coordinate and lead review sessions with Equities COR and Equities businesses, as necessary.
  • Review new and amended laws, rules and regulations and assist Equities COR team with determining applicability to Equities businesses and monitoring implementation to meet relevant compliance deadlines. Attend and participate in regulatory reform meetings and other routines with the Equities business and control partners, as necessary.
  • Assist with Equities COR cross-product regulatory initiatives, including reviewing and drafting advisories, policies, and procedures to ensure they are appropriately updated and issued timely. Attend and participate in the GBAM COR Policy Committee.
  • Assist with coordinating in-person training courses, including the Annual Compliance Meeting sessions, for the Equities business.
  • Coordinate and lead the Equities COR Conduct and Conflicts routines with Equities COR and other key stakeholders, as necessary.
  • Manage the Equities COR “Lessons Learned” and “Emerging Risks” routines and track and report on items for senior management.
  • Assist Equities COR with other deliverables, including issues management, training, conflicts, horizon risk, and conduct-related matters. 
  • Manage ad hoc strategic projects and initiatives and provide project management support for Equities COR.

Required:

  • B4;
  • Bachelor’s degree;
  • 8-10+ years of general broker-dealer legal/regulatory/compliance experience;
  • Ability to work effectively in a global environment, leveraging and sharing best practices and insights of Legal and Compliance colleagues globally;
  • Strong strategic, problem solving, and analytical skills;
  • People skills, leadership qualities, and communication skills;
  • Motivation, diligence, and excellent writing skills;
  • Excellent organizational skills;
  • Attention to detail;
  • Ability to work on multiple projects in a fast paced environment;
  • Legal degree a plus but not required; and
  • Regulatory experience a plus but not required.

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Learn more about this role

Full time

JR-21040187

Band: H4

Manages People: No

Travel: No

Manager:

Talent Acquisition Contact:

Alexander Watkins

Referral Bonus:

0

Street Address

Primary Location:
ONE BRYANT PARK, NY, New York, 10036