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Assistant Vice President, Compliance and Operational Risk Specialist

HONG KONG ISLAND, , Hong Kong

Job Description:

Your background

  • Minimum Years Business & Functional Experience: 5 Years
  • Degree Required: Bachelor’s Degree or equivalent experience
  • Knowledge of rules and regulations relating to Corporate and Investment Banking, Global Capital Markets and Research preferred

What you can expect

The Compliance and Operational Risk Specialist role, based in Hong Kong, assists the Global Corporate and Investment Banking (“GCIB”) and Research Compliance and Operational Risk officer team in activities to contribute to the independent compliance and operational risk oversight of GCIB and Research Front Line Unit (“FLU”) and Control Function (“CF”) performance 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:

What you will do

  • 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
  • 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.

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

  • Minimum Years Business & Functional Experience: 5 Years
  • Degree Required: Bachelor’s Degree or equivalent experience
  • Knowledge of rules and regulations relating to Corporate and Investment Banking, Global Capital Markets and Research preferred

What you can expect

The Compliance and Operational Risk Specialist role, based in Hong Kong, assists the Global Corporate and Investment Banking (“GCIB”) and Research Compliance and Operational Risk officer team in activities to contribute to the independent compliance and operational risk oversight of GCIB and Research Front Line Unit (“FLU”) and Control Function (“CF”) performance 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:

What you will do

  • 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
  • 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.

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-22022573

Band: H5

Manages People:

Manager:

Talent Acquisition Contact:

Mitesh Rathod

Referral Bonus:

0

Street Address

Primary Location:
2 QUEEN'S RD, HONG KONG ISLAND