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Compliance and Operational Risk Manager

Paris, , France

Job Description:

LOB: Global Risk - GCOR

Corporate Title: Vice President

Location: Paris

The Compliance and Operational Risk Specialist assists the Compliance and Operational Risk officer team in activities to contribute to the independent compliance and operational risk oversight of Front Line Unit (“FLU”) and Control Function (“CF”) performance and any related third party/vendor relationships 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 a FLU or CF compliance and operational risk officer 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 FLU or CF Compliance and Operational Risk teams with any of the following activities:
 

Main Responsibilities

  • Create and maintain a regulatory inventory.

  • Update relevant policies to ensure they reflect regulatory requirements for FLU/CF.

  • Conduct compliance and operational risk assessments.

  • Support group’s work to review and challenge the FLU/CFs’ Risk & Control Self-Assessments (RCSA)

  • Contribute to monitoring and testing coverage plans and related metrics.

  • Conduct monitoring and testing activities to check the effectiveness of the front line unit and control function compliance and operational risk controls.

  • Identify, aggregate, report and escalate compliance and operational risks, issues and control enhancements for FLU/CF.

  • Identify, collect, validate and record internal loss events and “near misses.” Contribute to root cause analyses on internal loss events and develop remediation plans to strengthen controls.

  • Identify, review and document relevant external loss events.

  • Assist in the execution of governance and management routines.

  • Identify compliance and operational risk training needs and inspect FLU/CF and third party participation for FLU/CF.

  • Assist with preparations for regulatory exams and audits for FLU/CF.

  • Inspect that commitments made regarding actions in response to Matters Requiring Attention (“MRAs”) and other actions are completed for FLU/CF.

  • Escalate regulatory relations concerns to Compliance and Operational Risk Manager or Executive.

The Team

  • An international team with very good working spirit.

  • Our team has interaction with FICC and EQTs business across EU and UK.

  • We have very strong interactions with other Paris based C&OR team and as well with other C&OR teams across the world.

  • As we are a small team there is plenty of opportunities to get exposure to the Business and C&OR management

  • Our team benefit from all the learning & development offer by BOFA

Core Skills

  • Educated to degree level, or equivalent experience.

  • Legal, Compliance or Regulatory qualifications helpful.

  • Excellent written and verbal interpersonal skills and solid influencing capability across all levels of management and with regulators.

  • Excellent relationship management skills.

  • Able make decisions in a demanding, high-energy environment.

  • Project management skills.

  • Self-aware: Ability to self-identify priorities, deliver to deadline and handle challenging demands and partners.

  • Good team attitude, willing to interact and discuss issues in a team environment.

  • A deep understanding of Global Markets products, including rates products, credit products, derivatives products, high yield products, currencies and commodities, acquired through a role in the Business or coverage in a Legal or Compliance function in a major financial institution, accounting or law firm.

  • Genuine interest in the securities markets and banking world, regulation and changing legislation.

  • Experience in dealing with regulators.

  • Sound risk management skills and an ability to apply good judgment, take decisions when required and to intensify when necessary.

  • A flexible and solution driven perspective, able to solve problems and a determination to seek answers to complex issues.

  • The ability to synthesise laws, rules and regulations into practice Strong written and verbal communication skills

  • Proficient in MS Office Suite applications

  • Team player, willing to collaborate with the team on initiatives, projects and issues

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.

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:

LOB: Global Risk - GCOR

Corporate Title: Vice President

Location: Paris

The Compliance and Operational Risk Specialist assists the Compliance and Operational Risk officer team in activities to contribute to the independent compliance and operational risk oversight of Front Line Unit (“FLU”) and Control Function (“CF”) performance and any related third party/vendor relationships 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 a FLU or CF compliance and operational risk officer 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 FLU or CF Compliance and Operational Risk teams with any of the following activities:
 

Main Responsibilities

  • Create and maintain a regulatory inventory.

  • Update relevant policies to ensure they reflect regulatory requirements for FLU/CF.

  • Conduct compliance and operational risk assessments.

  • Support group’s work to review and challenge the FLU/CFs’ Risk & Control Self-Assessments (RCSA)

  • Contribute to monitoring and testing coverage plans and related metrics.

  • Conduct monitoring and testing activities to check the effectiveness of the front line unit and control function compliance and operational risk controls.

  • Identify, aggregate, report and escalate compliance and operational risks, issues and control enhancements for FLU/CF.

  • Identify, collect, validate and record internal loss events and “near misses.” Contribute to root cause analyses on internal loss events and develop remediation plans to strengthen controls.

  • Identify, review and document relevant external loss events.

  • Assist in the execution of governance and management routines.

  • Identify compliance and operational risk training needs and inspect FLU/CF and third party participation for FLU/CF.

  • Assist with preparations for regulatory exams and audits for FLU/CF.

  • Inspect that commitments made regarding actions in response to Matters Requiring Attention (“MRAs”) and other actions are completed for FLU/CF.

  • Escalate regulatory relations concerns to Compliance and Operational Risk Manager or Executive.

The Team

  • An international team with very good working spirit.

  • Our team has interaction with FICC and EQTs business across EU and UK.

  • We have very strong interactions with other Paris based C&OR team and as well with other C&OR teams across the world.

  • As we are a small team there is plenty of opportunities to get exposure to the Business and C&OR management

  • Our team benefit from all the learning & development offer by BOFA

Core Skills

  • Educated to degree level, or equivalent experience.

  • Legal, Compliance or Regulatory qualifications helpful.

  • Excellent written and verbal interpersonal skills and solid influencing capability across all levels of management and with regulators.

  • Excellent relationship management skills.

  • Able make decisions in a demanding, high-energy environment.

  • Project management skills.

  • Self-aware: Ability to self-identify priorities, deliver to deadline and handle challenging demands and partners.

  • Good team attitude, willing to interact and discuss issues in a team environment.

  • A deep understanding of Global Markets products, including rates products, credit products, derivatives products, high yield products, currencies and commodities, acquired through a role in the Business or coverage in a Legal or Compliance function in a major financial institution, accounting or law firm.

  • Genuine interest in the securities markets and banking world, regulation and changing legislation.

  • Experience in dealing with regulators.

  • Sound risk management skills and an ability to apply good judgment, take decisions when required and to intensify when necessary.

  • A flexible and solution driven perspective, able to solve problems and a determination to seek answers to complex issues.

  • The ability to synthesise laws, rules and regulations into practice Strong written and verbal communication skills

  • Proficient in MS Office Suite applications

  • Team player, willing to collaborate with the team on initiatives, projects and issues

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.

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-21071779

Band: H4

Manages People:

Manager:

Talent Acquisition Contact:

Josh Littlemore

Referral Bonus:

0

Street Address

Primary Location:
49-51 Rue La Boetie, Paris, 75008