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Assistant Vice President / Vice President, Enterprise Area of Coverage Compliance & Operational Risk Specialist

Hong Kong, , Hong Kong;

Job Description:

Your background

  • 4+ years in privacy or risk management, audit or comparable experience
  • Knowledge of financial services desired
  • Knowledge implementing Privacy laws, rules and regulations in the APAC region preferred
  • Privacy certification (e.g. IAPP Certified Information Privacy Professional) desired
  • Outstanding organizational abilities and demonstrates strong attention to details
  • Excellent verbal and written communication skills with the ability to translate complex concepts into simple explanations
  • Ability to collaborate with all levels of management and enterprise partners and drive accountability for risk mitigation
  • Pro-active, forward-thinking and process oriented
  • Ability to understand internal information systems and information data flows and identify issues and control gaps
  • Ability to translate complex process, application and technology control gaps into risk
  • Speaks and acts with confidence
  • Demonstrates a bias for action and a commitment to achieving sustainable results
  • Weighs the relative importance, adequacy, and validity of information to form fact-based opinions, solve problems and make sound recommendations

What you can expect

The Enterprise Area of Coverage (EAC) Compliance & Operational Risk (C&OR) Specialist is an individual contributor member of the Privacy EAC Compliance and Operational Risk team focused on Data Privacy for the APAC region. This role is responsible for providing enterprise-wide oversight of APAC Data Privacy and Protection laws, rules and/or regulations, and related processes and controls with privacy risk. The EAC C&OR Specialist is responsible for identifying, escalating and mitigating risks in a timely manner in alignment with the Compliance and Operational Risk Management (CORM) Program, the Global Compliance Enterprise Policy (GC Policy) and the Operational Risk Management – Enterprise Policy (ORM Policy). Global Risk Management is seeking a risk professional to provide Operational Risk and Compliance oversight and strategic enterprise coverage of Data Privacy for the APAC region.  The position will play a critical role in the overall oversight of processes, controls, and laws, rules and regulations in scope for the Privacy Enterprise Area of Coverage (EAC) and will participate and assist in execution of the requirements of the Global Compliance and Operational Risk Policies for the Privacy Enterprise Area of Coverage. The role requires experience and expertise to escalate, debate and challenge significant risks as appropriate across the enterprise.

What you will do

The EAC C&OR Specialist is accountable for the requirements in the Global Compliance and Operational Risk Policies, participating and assisting in any of the following activities for their respective area of coverage:

  • Create and maintain a global coverage plan.
  • Establish, monitor and report on enterprise risk tolerance metric(s) that are translated and connected to relevant business metrics (Key Risk Indicators).
  • Create and maintain a regulatory inventory.
  • Update relevant policies to ensure they reflect regulatory requirements.
  • Conduct annual and targeted risk assessments.
  • Contribute to monitoring and testing coverage plans and related metrics.
  • Monitor and test the effectiveness of the front line units and control functions’ processes and controls.
  • Identify, aggregate, report and escalate compliance and operational risks, issues and control enhancements.
  • Assist in the review and analysis of internal and external losses related to their area of coverage for enterprise-wide themes; escalate concerns or loss exposures as appropriate.
  • Provide support to Scenario Analysis activities which provide a forward-looking estimate of hypothetical operational losses.
  • Assist in executing governance and management routines.
  • Assist in the identification of regulatory training needs and inspect Front Line Unit/Control Function (“FLU/CF”)
  • Assist with preparations for regulatory exams and audits.
  • Inspect that commitments made regarding actions in response to Matters Requiring Attention (“MRAs”) and other actions are completed.
  • Escalate regulatory relations concerns to EAC C&OR Manager or 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:

H5

Shift: 

Hours Per Week:

40

Weekly Schedule:

Referral Bonus Amount:

0

Job Description:

Your background

  • 4+ years in privacy or risk management, audit or comparable experience
  • Knowledge of financial services desired
  • Knowledge implementing Privacy laws, rules and regulations in the APAC region preferred
  • Privacy certification (e.g. IAPP Certified Information Privacy Professional) desired
  • Outstanding organizational abilities and demonstrates strong attention to details
  • Excellent verbal and written communication skills with the ability to translate complex concepts into simple explanations
  • Ability to collaborate with all levels of management and enterprise partners and drive accountability for risk mitigation
  • Pro-active, forward-thinking and process oriented
  • Ability to understand internal information systems and information data flows and identify issues and control gaps
  • Ability to translate complex process, application and technology control gaps into risk
  • Speaks and acts with confidence
  • Demonstrates a bias for action and a commitment to achieving sustainable results
  • Weighs the relative importance, adequacy, and validity of information to form fact-based opinions, solve problems and make sound recommendations

What you can expect

The Enterprise Area of Coverage (EAC) Compliance & Operational Risk (C&OR) Specialist is an individual contributor member of the Privacy EAC Compliance and Operational Risk team focused on Data Privacy for the APAC region. This role is responsible for providing enterprise-wide oversight of APAC Data Privacy and Protection laws, rules and/or regulations, and related processes and controls with privacy risk. The EAC C&OR Specialist is responsible for identifying, escalating and mitigating risks in a timely manner in alignment with the Compliance and Operational Risk Management (CORM) Program, the Global Compliance Enterprise Policy (GC Policy) and the Operational Risk Management – Enterprise Policy (ORM Policy). Global Risk Management is seeking a risk professional to provide Operational Risk and Compliance oversight and strategic enterprise coverage of Data Privacy for the APAC region.  The position will play a critical role in the overall oversight of processes, controls, and laws, rules and regulations in scope for the Privacy Enterprise Area of Coverage (EAC) and will participate and assist in execution of the requirements of the Global Compliance and Operational Risk Policies for the Privacy Enterprise Area of Coverage. The role requires experience and expertise to escalate, debate and challenge significant risks as appropriate across the enterprise.

What you will do

The EAC C&OR Specialist is accountable for the requirements in the Global Compliance and Operational Risk Policies, participating and assisting in any of the following activities for their respective area of coverage:

  • Create and maintain a global coverage plan.
  • Establish, monitor and report on enterprise risk tolerance metric(s) that are translated and connected to relevant business metrics (Key Risk Indicators).
  • Create and maintain a regulatory inventory.
  • Update relevant policies to ensure they reflect regulatory requirements.
  • Conduct annual and targeted risk assessments.
  • Contribute to monitoring and testing coverage plans and related metrics.
  • Monitor and test the effectiveness of the front line units and control functions’ processes and controls.
  • Identify, aggregate, report and escalate compliance and operational risks, issues and control enhancements.
  • Assist in the review and analysis of internal and external losses related to their area of coverage for enterprise-wide themes; escalate concerns or loss exposures as appropriate.
  • Provide support to Scenario Analysis activities which provide a forward-looking estimate of hypothetical operational losses.
  • Assist in executing governance and management routines.
  • Assist in the identification of regulatory training needs and inspect Front Line Unit/Control Function (“FLU/CF”)
  • Assist with preparations for regulatory exams and audits.
  • Inspect that commitments made regarding actions in response to Matters Requiring Attention (“MRAs”) and other actions are completed.
  • Escalate regulatory relations concerns to EAC C&OR Manager or 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-21058550

Band: H5

Manages People:

Manager:

Talent Acquisition Contact:

Mitesh Rathod

Referral Bonus:

0

Street Address

Primary Location:
51 KWAI CHEONG ROAD, Hong Kong
Additional Locations: